Okay, so we're not always right...

Mortgage broker = Sex Offender?

A long time ago I tried selling mutual funds (failed miserably), and to get the SEC licensing necessary, I had to get fingerprinted.  This is really no different.
Permalink Aaron 
July 28th, 2010 3:38pm
Why do they need a Credit Check?

If you have bad credit you can't sell mortgages?
Permalink Morons 
July 28th, 2010 3:43pm
would you trust somebody who defaulted on their mortgage to sell you one?
Permalink Send private email Colm 
July 28th, 2010 3:47pm
WTF. This is correcting something? Where are the background checks for CEOs and stock traders?
Permalink CC 
July 28th, 2010 3:47pm
Drug testing for all CEOs.
Permalink CC 
July 28th, 2010 3:48pm
>>would you trust somebody who defaulted on their mortgage to sell you one?

What do i care? If he is giving a better rate... He is giving me money.. not the other way around.
Permalink Morons 
July 28th, 2010 3:53pm
>> Mortgage loan originators will have to be fingerprinted and sign up to a central registry to do business in future, according to final rules issued on Wednesday by the Federal Reserve and other regulators. <<

Because mortgage brokers rob convenience stores on the weekends?
Permalink Send private email xampl 
July 28th, 2010 4:07pm
>>What do i care? If he is giving a better rate...

Now that he has all your personal information, he can apply loans, credit cards under your name ...
Permalink Rich Tsang 
July 28th, 2010 4:09pm
>>Now that he has all your personal information, he can apply loans, credit cards under your name ...

So can the guy trading t-shirts for CC Applications at your local collage.
Permalink Morons 
July 28th, 2010 4:10pm
>What do i care? If he is giving a better rate... He is
>giving me money.. not the other way around.

Let's assume you're the bank (or the government backstopping that bank). You care whether or not your customers default.
Permalink Send private email Colm 
July 28th, 2010 4:42pm
>>Let's assume you're the bank (or the government backstopping that bank). You care whether or not your customers default.

Right so i the customer has my credit checked by the bank. What does the broker's credit have to with my ability to pay?
Permalink Morons 
July 28th, 2010 4:47pm
> You care whether or not your customers default.

Yes, that is an innovation.
Permalink Attila 
July 28th, 2010 4:48pm
They used to just sell them on, before the customers could default.
Permalink Attila 
July 28th, 2010 4:49pm
>They used to just sell them on, before the customers could default.

Ah the Good ol' days!
When i bought my house i just started my business and couldn't prove any income at all.. all i had was Projections. No one in there right mind would lend me money. But no checked!!! I got a great rate too!
Permalink Morons 
July 28th, 2010 5:00pm

This topic is archived. No further replies will be accepted.

Other topics: July, 2010 Other topics: July, 2010 Recent topics Recent topics