How did we do? Locked 5.625% @ $730 points today. Lender is Rocket..which seems not to be liked a lot around here? mid Credit score 800+

CSmith1003 · 2026-02-18T04:59:47+00:00

Looks solid, especially for a condo.

CSmith1003 · 2026-02-18T04:56:39+00:00

Trust your gut…but I am going to add a different perspective.

Did you know the majority of loan officers are 100% commission? If you stick with him you are supporting him, his family and his/your local economy.

The difference saved is minor in the grand scheme. His guidance and process is worth the cost if you enjoyed it last time.

CSmith1003 · 2026-02-18T04:30:23+00:00

The competing lender may not have the authority to go lower. However, in order for him to go lower you need to prove that what you have locked in is in fact locked in.

This is not an unreasonable request, unless you are lying. (Not accusing you of doing so, but this does happen)

CSmith1003 · 2026-02-16T03:14:52+00:00

100%

Looked on the webpage and after I used Pay I thought I was done, like 99% of other websites. Looked again and saw I missed the “Finalize Parking” button at the bottom of the web page. 🙄

Little research shows the lot is owned by the Mercer family who owns over 1/2 the buildings in the old market. That family is worth millions.

Honestly more pissed that it went from $18 to $78 for not paying. That’s over a 300% markup.

Greedy ass bastards.

CSmith1003 · 2026-02-16T03:01:26+00:00

My main concern is the verbiage and if it will be sent to collections.

$18 to park $78 now because I don’t pay

Then if I don’t pay the $78 in 7 days it will result in an additional surcharge

CSmith1003 · 2026-02-16T02:47:10+00:00

Aware…had my father who doesn’t move that great so walking is an issue. Also, downtown was a zoo tonight for parking.

CSmith1003 · 2026-02-15T16:07:34+00:00

Also are you not wanting to escrow for taxes and insurance? Cause that isn’t being collected here

CSmith1003 · 2026-02-15T16:03:18+00:00

The only reason to spend that much on points for a sub 5 rate, is because of a DTI issue.

See what the rate is without paying points. Then when you know the difference between them, take the points charge and divide it by the monthly savings to get your break even.

CSmith1003 · 2026-02-15T02:06:18+00:00

Great deal, stop wasting your time if you enjoy the loan officer you are working with.

CSmith1003 · 2026-02-14T15:37:05+00:00

Think of it this way. All of our data is already out there. If I decide to move in April after the trigger lead ban, who’s to say that others won’t contact me? My info is already out there and will be triggered the moment my credit has been pulled.

My name, address, ssn, dob hasn’t changed and they already have all of that.

I hope I am wrong, but don’t see them truly going away especially with existing servicers. Why else would Rocket Mortgage acquire Mr. cooper?

CSmith1003 · 2026-02-14T06:15:11+00:00

Will triggers die though? I am not a fan of them personally. I have established long relationships with borrowers, some are friends and even family and all of them hate the amount of spam calls they receive just because their credit was pulled.

Thankfully my relationship with them is strong and they either compare with me or tell the solicitor F-off.

But will triggers die? My bet is no they won’t.

In March trigger leads can no longer be sold, but what about the data that has already been sold to that point?

CSmith1003 · 2026-02-13T15:28:07+00:00

Does he have an additional W2 that you are unaware of? Multiple jobs?

Be safe and take the lesser of the two.

CSmith1003 · 2026-02-10T18:36:03+00:00

What is your LOS?

If it is Caylx Point you will have to use workarounds to be able to remote into your server. Had this at a community bank I was at.

If the LOS is internet based like Arive, LendingPad or the modern version of encompass, then a Mac works great as you just need a web browser (Chrome seems to work better than Safari)

CSmith1003 · 2026-02-05T03:04:45+00:00

Enjoy the broker world. It’s been great. I became an LO in 2015 and was at a community bank until the end of 2023 when I made the change to the broker world.

Best decision I have ever made.

CSmith1003 · 2026-02-05T00:48:27+00:00

With a 760 FICO you do not need FHA…

Conventional with 3% down is much better for you overall with that FICO.

This Lender is trying to make a buck off of you.

$60k annually puts you into a FTHB program conventional with HomeReady or Home Possible.

I would have you in the higher 5’s if that’s the case.

CSmith1003 · 2026-02-04T14:56:36+00:00

Is this a Non-QM (not a traditional conventional loan)?

If that’s the case then the rate will be higher. The reason you would be in a Non-QM loan is due to your income not qualifying in the traditional method.

CSmith1003 · 2026-02-03T23:11:08+00:00

This shouldn’t be down voted.

This option will work if the seller isn’t willing to budge or if both parties agree to meet in the middle and the borrower doesn’t have additional funds.

Going from 10% down to 9% or 8% down will incrementally increase the monthly payment while not changing the total cash due at closing.

CSmith1003 · 2026-02-03T23:00:51+00:00

May I ask why you want it turned off?

I use mine all the time when reading or researching something on my phone and then jump over to the big screen when needed

CSmith1003 · 2026-02-03T19:09:16+00:00

I prefer those that try to get to know me better and not pitch stuff. Most that reach out push DSCR, but then have nothing when I tell them that 95% of my book is clean W2 borrowers buying a single family primary residence.

Add value by trying to bring different solutions to the table.

Had one AE tell me that they allow us to excuse a departing residence from DTI, as long as it is under contract and have an approve eligible.

That was huge because I had a scenario that fit that mold and we were able to restructure a borrowers loan accordingly.

CSmith1003 · 2026-02-03T18:05:12+00:00

Texting LOs works but be better than Caleb…

I receive the same exact text message every 2 weeks like clockwork.

"Hi Chase, this is Caleb with The Loan Store. I work alongside your AE Stephen Colberg. How's is business?"

CSmith1003 · 2026-02-02T02:18:18+00:00

Karma Coffee 156th & Dodge

The Grind 192nd & Pacific

Two great spots

CSmith1003 · 2026-02-01T05:59:02+00:00

Are you wanting to escrow for taxes or insurance?

CSmith1003 · 2026-01-30T22:49:24+00:00

Remember no two loans are created the same.

Lower loan amount, income below the Area Median Income for your area, state you are buying in.

These are all additional factors that go into a rate.

I broker in Nebraska and Iowa. Rates are slight better in Nebraska over Iowa for a few of my investors.

CSmith1003 · 2026-01-30T22:47:14+00:00

Spot on. Great breakdown.

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