LOAN ORIGINATION FEE POLICY AND PLEDGE
As an independent contracting Mortgage Broker, I am free to set my own (all- inclusive) origination fee. I believe in fair and affordable loan origination pricing. Borrowers benefit from lower rates when origination fees are fixed and uniform, regardless of loan size.
Competing Loan Brokers should be encouraged to submit their “Best Offer” without reference to any other offer
– that way, you may discover their willingness to be fair and equitable without regard to what others may be willing to provide. – offers or guarantees to "beat any quote" - should raise ethical questions.
In no circumstance whatsoever, shall I mark-up or derive a profit from ANY third party service provider (ie. Wholesale Lender, Escrow, Title Insurance, Appraisal, Recording, Notary, or Credit Report Issuer).
Any wholesale derived compensation (Yield Spread Premium) received from your Lender, shall be passed on to you in the form of a credit against any other closing costs (third party charges) due or payable by you in the transaction.
You may elect to pay “lender discount points” in order to obtain below market interest rates. I do not receive any benefit or compensation as a result of a clients election to pay lender discount points.
Please see our Daily 30 Yr Fixed
or 15 Yr Fixed
Rate and Pricing Quotations maintained on our website.
David Sones, Senior Loan Consultant / Mortgage Broker (858) 672-2707