Tawny Lynn, NMLS-57806 Loan Officer Mortgage Originator  (Washington First Mortgage Loan Corporation)

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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Tawny - If my clients aren't happy with my lender, then neither am I.

Jun 15, 2016 06:10 AM
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Tawny, I've left lenders for far less!  I choose the lenders I do because they "get stuff done" and provide top-notch customer service.  If they charge higher fees, they better provide something for that.  If they are just taking advantage of me and my clients, in the words of Shark Tank's Mr. Wonderful, "they're dead to me."


For my own loans, I use my lenders.  I've had bad experiences with a lender on my preferred list once and they were off that list by the time I was 10 days into escrow.  I even almost left a bank because of their loan application process.

Jun 15, 2016 09:04 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

If a client told me this you bet it would matter. I would say "Let's get them on the phone and talk about this".

Jun 15, 2016 06:10 AM
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

The lenders I recommend have to have competitive rates.

Jun 15, 2016 12:29 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

You bet it would and I would have a conversation with the lenders about it. I want my clients to have the most competitive rates and fees.

Jun 15, 2016 09:00 AM
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

At one time I had a Mtg broker license and owned a large mortgage company.  Out of the 42 loan officers, I would only use 3 for my buyer clients...the ones that were at the top of their game, and knew how to package a loan to fly through underwriting.

What I have learned is the good brokers do not work for free...(just like real estate agents)  and good mortgage lenders are ususually close in what they charge.  There are many ways to lable the fees, schuffle the fees and distort the charges.

I always recommend my preferred lenders and the buyer can make the final decision.  I never go for cheap, because I have never found "good" with "cheap".  

And yes, I like to use the best in the business even for my own personal mortgage.  It saves time, headaches and fixes transactions that otherwise might not close.


Jun 15, 2016 07:04 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Everyone has to make a buck...It makes the wrold go round. That's all I know

Jun 15, 2016 06:24 AM
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

 Hi Tawny, Great question and I enjoyed reading some of the answers. As a Mortgage Broker, excellent rates, low fees, and great service and honesty is my package deal. Many agents have their preferred lenders because they get their deals closed. I find that with them, rates and fees are secondary and only will be an issue once the buyer says something to the agent. When I make a referral, I have checked out not only their service, but their pricing. If you won't use your preferred lenders yourself, why would you tell your customers to use them? I still believe that you can get "good and cheap", you just need to find them. I think each agent should review their preferred lenders and really find out if they are the best for your clients. I bet many will find out they are not. Try shopping them and see if they are the best or not.

Jun 16, 2016 01:44 AM
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West - Carlsbad, CA
Presence, Persistence & Perseverance

Definitely! We like to know we are providing value throughout the entire transaction. Yes; it would affect my personal decisions!

Jun 15, 2016 11:07 PM
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Where dollars are concerned everything matters. Choosing to pay higher rates and fees is not on the agenda for myself or my customers.

Jun 15, 2016 08:52 PM
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

It depends of what " very high" is. It seems that there is usually not a huge difference in rates from lender to lender. Quality of service is another story.

Jun 15, 2016 08:33 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

They are not long for my list if they are not competitive with rates and great with service.

Jun 15, 2016 01:53 PM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Absolutely.  I work very hard to help my buyers find the best lender for them and closing costs and interest rate -- bottom line -- is always important.

Jun 15, 2016 01:01 PM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I give them a different lender or broker.

Borrowers are not dumb... They shop around.

Jun 15, 2016 11:22 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Yes if it were an issue for my clients I would want to know

Jun 15, 2016 07:38 AM
Susan Laxson CRS
Premier Sotheby's International Realty - Naples, FL
The Michelle Thomas Team

Yes, it would matter because if it didn't, they wouldn't be talking about it. I would see if we could get the lender on the phone to see what the charges were and compare them to other lenders. Sometimes there is just a misunderstanding, but the best way to clear it up is to find out. Good question!

Jun 15, 2016 06:33 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy


Dick Greenberg and I are on the same page on this subject.  A

Jun 15, 2016 06:14 AM
James Schneider
Eagle Creek - Gaithersburg, MD
Your Mortgage Source

This is where the LE comes in for your clients, it allows them to really see what is right for them.  What the LE doesn't show is how satisfied they will be throughout the process.  That is where the key is, would they be willing to sacrifice a few hundred dollars for a lot less headaches?  They should treat it just like an interview process... let the LE be the resume and then speak with each lender to make sure that this is who they want to go through the process with.  They aren't buying a car, or applying for a credit card... this is a life altering decision.  

Jun 22, 2016 02:49 AM
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

Our list of preferred lenders changes frequently - non-competitive rates is one of the reasons. If my clients aren't happy, then you're not my preferred lender any more.

Jun 16, 2016 08:37 AM
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Nope, they can choose whatever lender they want as long as the lender gets the job done

Jun 15, 2016 10:44 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Cost is a factor, but service is most important. If the customer is consumed with cost, my referral might be different with a word of caution that cost may effect service!

Jun 15, 2016 10:30 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I would check it out.

Jun 15, 2016 09:56 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I would have a conversation with that lender to see what's what. At the end of the day, it's up to the client to decide where it's worth paying money.

Jun 15, 2016 09:54 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Provide your best advice but they still make their own selection.

Jun 15, 2016 08:45 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Tawny Lynn they definitely have a right to choose their lender.

After couple of clients lost, the lender should 'get it'!

Jun 15, 2016 03:10 PM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

of course it matters and no I would not use the lender partner for my own mortgage

Jun 15, 2016 02:40 PM
Melissa Jackson
Century 21 Alliance Properties - Azle, TX
Helping You Make The Right Move

If my client is not happy I have no issue with them talking to other lenders.  No, I would shop around if my lender charged more fees without any advantages for my loan. Not all lenders are equal nor do they offer the same products.  A home is a large purchase with a  longtime commitment.

Jun 15, 2016 01:05 PM
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

If the services have a higher value then I don't have a problem with higher fees. If the services are the same or equivalent then yes, it matters and no I would not use them personally.

Jun 15, 2016 09:23 AM
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

  Lenders are pooling from the same source for 90% of the closed loans- US government sets the pricing a couple times a day. Translation: FHA USDA Conventional are all priced in same bucket. Consumers can get a low ball quote that isn't related to their deal very easily- doesn't mean it is related to their own needs. The freeway billboard might say: 2% 30 year fixed but it is meaningless. Close on time - means something.  Jumbo and niche loans are ballpark where skill and honesty determine the outcome.  

I sold my super jumbo house recently/ Buyer's lender lied 64 days on a 30 day escrow. It is difficult to weed through the quote from the real closing, even when in the business.

Jun 15, 2016 08:14 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Nobody wants to be overcharged, but if the high rate lender gets significantly more deals closed then they may be worth the money.

Jun 15, 2016 07:50 AM
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I would re-examine my definition of "preferred lender" - do they supply super service (whatever that might be) to warrant the higher pricing?

Jun 15, 2016 07:47 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

You can not force your client to use your preferred lender. If they can not offer competitive fees, I would not blame clients for using someone else. I never though had such complains about my current lenders. But of course, I had similar experience before, when I worked with big companies and had to use their in house lenders. 

Jun 15, 2016 07:10 AM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Ditto Dick Greenberg and Ron and Alexandra Seigel 

Jun 15, 2016 06:53 AM