Jeff Corbett's (thexbroker) Blog

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Real Estate Technology - BoomTown
An Insiders Guide to Whats in My Head...
RECENT BLOG POSTS
Some members of blogging and other community platforms I belong too tend to misinterpret my MO…calling me ‘negative’, an ‘idealist’, ‘mud-slinger’, etc. Contrary to popular belief, I’m not the Grim Reaper, although my posts may have a sensationalist, tongue-in-cheek, even rapine roll to them; so...
11/08/2006
      We've had many people write in positive comments regarding these mortgage calculators, so I thought I would share them with the AR community.  They are much more intuitive than the traditional versions found on many lender websites...So, for what it's worth, here they are....   Side by side...
11/03/2006
 Lending Tree Accused of Unfair Business Practices   <-- Now you know why....  Unless you are 'in' the industry, news like this gets shuffled into the abyss. I wrote a quick post recently regarding the caveats of dealing with e-lenders or online bankers and mortgage lead aggregation sites.  The p...
11/01/2006
The chart shows the exact same loan for the same borrower "priced" two different ways: The broker/banker's way, and Transparently, with a pre-negotiated fixed cost for services utilizing wholesale, par rate pricing.   DiTech™ was arbitrarily chosen for this comparison, but it could have been any ...
10/31/2006
    Pre-Payment Penalties (PPP) are often used as a tool by mortgage broker/bankers to increase the amount of YSP a Lender will allow them to charge. The theory behind this is that Lenders don’t mind paying larger amounts of YSP if they can guarantee a recoup of some of the cost via a PPP, should...
10/28/2006
14 Comments
    Mash-Up has to be the Web 2.0 “Word of the Year.” For those of you not in the know, a mash-up is the combination of two existing webservices to create something new, wherein the whole is greater than the sum of its parts. Here are some of my favorites… Neighboroo They have injected a mapping...
10/28/2006
14 Comments
WARNING: What you are about to read are 100% factual accounts of grievous broker misconduct. The rules regarding YSP and disclosure are clear, yet some broker/bankers continue to operate as if they’re above the law.   If you’ve never seen this 2-page brief on YSP & Consumer Disclosure from the C...
10/27/2006
There has been quite a bit of material written about the sinister mortgage programs called Option ARM's, or fixed payment mortgages. Dangerous, Predatory, Deceptive, ______ fill in the blank with your "watch out!" comment of choice. The general consensus on how these programs hurt borrowers is ge...
10/26/2006
Couldn’t refuse the title. “DOJ Intent Leaks Ahead Of Meeting With NAR, DOJ Denies Leak” from The Realty Times reports. Things are not looking good when the Government is threatening your organization with an anti-trust suit. I don’t care if you’re innocent or guilty—you better have deep pockets...
10/25/2006
Some things would be different, that’s for sure: There would be no prices on the menu.The exact same coffee drink sold out of the same location on the same day would be sold at different prices to different people.Employees would be trained and encouraged to maximize the gross profit on every cu...
10/24/2006
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