Don’t reward bad lenders. Many mortgage borrowers in this market have heeded our call to shop their mortgage around, especially when dealing with that “quick in pocket-sounding lender” or that VA lender that is supposed to “unite” veterans.

They call us because they want to compare offers to see if they are getting a good deal with a low interest rate and low fees. The first thing I tell them is that I don’t want to even see the other lender’s offer, let me send you our best offer, then we will compare the offers.

In the last month, 100% of the time, our offer was a much better deal for the borrower. Indigo Mortgage had a lower mortgage rate and fewer closing costs. But when the borrower went back to cancel their loan with that “quick-in pocket sounding lender” or that “united” veteran lender, these companies had the nerve to tell the borrower to send them our offer and they would match it!
This is when I tell the borrower not to reward that lender for giving them a raw deal. Because if the borrower had not shopped their mortgage loan, then those lenders would let the borrower go to closing with the higher rate and higher fees. I don’t believe in rewarding these lenders, by allowing them to all of a sudden drop their rates and fee, only when they know they have competition!