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The “No Bull” Transparent Wholesale, Flat Fee ProgramThe “No Bull” BEST Rate & Fee Pricing GuaranteeCompareThe “No Bull” Transparent Wholesale, Flat Fee Program;The mortgage financing industry has multiple layers and sources of ‘money flow,’ and often times a borrower can save hundreds or even THOUSANDS of dollars if allowed to participate directly in the wholesale flow of funds. The lenders that do not tell you about these money flows keep them for themselves. After a no-charge analysis of your credit file, we will arrive at a mutually agreed FLAT SERVICE FEE for the work involved in your mortgage finance origination, and ALL ADDITIONAL MONEY FLOW IS YOURS FROM THERE FORWARD! Q: You say you typically charge between 1-3%... what if I have a Lender offering NO
ORIGINATION FEES?
A: YOU get to design how many points of pre-paid interest you pay, or how many points of
REBATE you have the LENDER pay to your own costs… it is entirely in your own hands!
Q: How much savings are there in getting the wholesale rates instead of retail?
A: It actually fluctuates daily… sometimes the best wholesale is a full 1% in rate, or over
2.5% in points, better than any retail pricing… and sometimes the differences are only ¼%. Very
rarely the markets “cross” with retail dipping temporarily lower than wholesale, but that happens
maybe 1-3% of the time, with the rest of the time having wholesale be a significant savings.
Q: What else is “transparent” about this program?
A: With this program you are “in the driver’s seat” right along with us! You get CC’d on all
the emailed conversation logs, orders, changes, commands, arguments, etc. with the real estate
agents, title companies, closing agents, attorneys, employers, appraisers, underwriters, etc. etc.
If there are any delays, you have ALL the ammunition to jump right in & raise a holy ruckus if you
want to!
Q: Do you let me pick the lenders, service providers, etc.?
A: YES! However, we also do not “throw you to the wolves!” In order to make sure you are
prepared so you make the best educated choices, we provide you with several recommended options, and
explain what the differences are for your own considerations.
Q: What about rate-locking? Can I decide when we lock? Do I HAVE TO decide when to lock?
A: Either way… again, with complete support and coaching. If you LOVE to micro-manage the markets,
and you are watching the interest rates and bond markets daily, then “you are the man (or woman)” and
we will keep feeding you the daily wholesale ratesheets until you tell us to pull the trigger.
HOWEVER… if you love the details, but DO NOT manage in the markets daily, we will provide our
coaching & opinions on where the markets are, what they are likely to do through the time
frame of your considerations, and when would be the best time to execute your ratelocks.
Q: What am I allowed to do with Rebate Pricing, if I choose to take it?
A: Almost anything you want! You can apply it to down payment… apply it to closing costs… apply
it to property taxes… apply it to homeowners’ insurance. You can even take it in cash back to you at
the closing table up to any amount of earnest deposits you may have made on a purchase contract.
Q: What if we see better retail pricing during the Transparent Wholesale process?
A: This is part of the risks that the borrower manages themselves. There is the approximately
1-3% possibility of retail pricing being better than wholesale… and in return for managing your own
risks, you also get the benefits of the upside 97% of the time!
Q: The agreement says this is an “exclusive representation,” what does that mean?
A: This means that we bring you “on the inside” of the industry, and in return you protect us
with an assurance that you will close your transaction with us, and only us (at the transparent
wholesale pricing) no matter what… whether it be on this particular home being shopped for, or any
other homes (within a one year period) if this home doesn’t work out for you. If no home works out
for you… “that’s the breaks” and we understand… however, if a home comes up and the seller demands
you use their financing, or you use a different source for any other reason, our agreement holds that
we will still be paid 1% of the funds applied for as compensation for bringing you into the "transparent
inside" of the industry.
The "No Bull" BEST Rate & Fee Pricing Guarantee;It's very simple, at the point of Rate Lock we will ALREADY be lower than any verifiable competitive Lender's lockable offer, OR ELSE WE WILL REDUCE OUR OFFER TO BEAT THEM! Q: You say you typically charge between 1-3%... what if I have a Lender offering NO ORIGINATION
FEES?
A: These offers are done by increasing the interest rates to cover lender
fees... and we can still beat their deal the same way, if that's
how you prefer it. If you REALLY want a "Zero Points" deal, check
out the Transparent Wholesale agreement!.
Q: How can you supposedly beat a lender that really DOES have lower pricing?
A: SIMPLE, our funding bank BACKS US UP! Because of our volume, the wholesale funding lenders
that support OUR business volume will "sharpen their pencils" in order to get your loans funded through
them. While your loan may be $100,000, or $250,000 or even $500,000... the monthly total our wholesalers
get from us is in the many Millions... and because we "play favorites" the wholesalers will "back
us up" on any deal "at war." BOTTOM LINE: We have more clout than most other shops, and more clout
than ALL individual borrowers... and we bring that to our guarantee.
Q: Would you actually complete a loan if you had to lose money to keep the guarantee?
A: OF COURSE! And we HAVE DONE SO!
Q: WHY would you do so?
A: It gives us the right to MAKE the guarantee that nobody else will...
and THAT means more people can trust US than anywhere else!
Q: What does "verifiable" mean?
A: If you point out a Lender offering a lower lock, we have a 3rd party CPA "secret shopper" call as
a ready-to-lock shopper... and whatever they get back as a real offer, we adhere to... no fuss from us!
Q: With this guarantee agreement, when can I lock?
A: On a purchase, as soon as you have an executed Purchase Agreement. On a refi, as soon as we have
the appraisal back showing the property as acceptable.
Q: Do you charge any upfront fees?
A: NO! NONE! (You will pay directly to the providers for the credit report and appraisal, however.)
Q: If we lock and then rates get better later, what then?
A: We will make all efforts to re-negotiate your lock for you... however, at the point of ratelock, hard
funds are being spent to secure your loan funds at the rates requested, and re-negotiating is rarely successful
EXCEPT when the rates have dropped so much that the rates can be adjusted without incurring additional lock
costs to the funding sources.
Q: If we lock and the deal falls through... what then?
A: The agreement AND the guarantee simply roll forward to the next opportunity
in the future. There is no penalty for a deal falling apart (as sometimes
naturally just happens.) Cancellation entirely (to use a
different source, for example) would incur a 1% fee, however
extensions of the agreement are at no cost whatsoever.
CompareA Question & Answer explanation of the basic differences between the "Unbeatable Guarantee" and
"Transparent Wholesale" methods, and which kinds of borrowers tend to prefer which type of
relationship.
Q: C'mon... what I REALLY want to know is "Which method is better for getting me the best rates?"
A: Well... the "Guarantee" program assures you that you will ALWAYS have the best known competitive rate
& fee... and the "Transparent" program lets you get wholesale pricing, which is even lower than retail
about 95% of the time!
Q: OK... then let us ask this; "Which way does No Bull Mortgage MAKE more money from us?"
A: Actually, over the averages of many transactions, the revenues from both are pretty close to equal.
If we make less with one over the other... we probably tend to make a little bit less with the
"Transparent Wholesale" program... but that is understandable because the Client also manages
some of their own risks in that case also. Even though we make less with the "Transparent" program, it
is still our favorite because it tends to be less stressful for everyone involved (including the borrower)
when the borrower loves getting "shoulder deep in the details" of the transaction.
Q: What kind of people are usually most comfortable with the "Guarantee" program?
A: Usually the "Guarantee" program seems the best to "Big Picture" people, and "People-People." The
kinds of people who prefer to watch the "big picture" and have others that they trust manage the incremental
details. Examples would tend to be; school teachers, salespeople, managers, non-financial people,
trades-people, etc. These types like that they are GUARANTEED that they've made the right decision up
front, and don't have to worry about a 'bait & switch' later on.
Q: What kind of people are usually most comfortable with the "Transparent" program?
A: Usually the "Transparent" program attracts the detail-freaks... people who prefer to keep their thumb
on the pulse of every detail of their financial picture, and LOVE knowing about the most arcane items involved
in their mortgage financing process. Examples would tend to be engineers, attorneys, accountants, and others
in the financial professions. These types don't mind managing their own risks, and love keeping track of the
markets themselves. They love being involved in every aspect of their financing, love taking part in the
ongoing conversations with the various service providers, and love seeing the details on a daily basis as they
unfold.
Q: Which method do your customers use the most?
A: It's pretty evenly split, actually... mostly right along the lines of personality types, as explained
above. Our suggestion is to choose according to the style that makes you the most comfortable in the process...
they are designed with YOU in mind!
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