I am a mortgage broker and have been since 2001. I have a masters degree in Finance and not only know how to do loans, but I truly believe in “customer service and fairness.”
My question is this; is it fair for me as the mortgage broker to charge $995.00 on the front as my broker fee, $0.00 in YSP, and give the borrower the lowest possible rate? I have been doing this for several months now, but really wondered if people really do care about fees. Yes, I want to continue to make a living in this business, but the last two months I have closed 6 loans each month, but after my split with my company, I take home $1500 a month. I won’t last long if I keep this up….any suggestions????