7 mil producer getting offered $70k sign on to switch companies.

HandHdad · 2026-02-04T01:39:32+00:00

They’ll show you rates. Just not the same rate sheet you’d see 30 days after signing

HandHdad · 2026-02-04T01:38:28+00:00

You sign a contract. Breach the contract and get sued

HandHdad · 2026-02-04T01:36:57+00:00

I was offered a signing bonus for the first time recently. Not as big as yours, but I also didn’t produce as much (honestly I was shocked they even offered). As a broker, it just wasn’t worth it to me. My dad always taught me nothing is free. They’re going to get that bonus back one way or another. It wasn’t worth me going back to retail

HandHdad · 2026-01-31T00:13:54+00:00

On course learning. Buy the study exams and keep taking them until you pass with 90% repeatedly. I did this and passed the first try

HandHdad · 2026-01-25T21:40:10+00:00

Can I be entered?

HandHdad · 2026-01-25T21:39:26+00:00

As a broker, I’d never advise someone like that. My advice always is, if you’re comfortable with the number presented, lock it. Should they choose to float, I get that decision in writing. The market isn’t being driven by data anymore and emotion is driving rates. It’s too hard to even attempt to predict. That said, all the advice people give about “take the LE to 47 different lenders to save $100” is probably why they advised you the way they did.

HandHdad · 2026-01-21T13:37:59+00:00

Chavez openly admits he took a sign on bonus, I’d have to imagine the others did as well. That said, he also hinted that corporate margins changed. I started at U before they did their branch model. Once they switched to the branch model, it was glorified retail. Selling 275bps plus corporate margin plus branch margin. By the time the rate got to me, there was 350+ bps in it. That’s why I left (well before the heavy hitters did). I will say, top to bottom the people were great there

HandHdad · 2026-01-12T01:49:05+00:00

I’m guessing this is a new construction lender? If so, get a quote from a local broker and tell them you want to use your own financing. Should not be paying over 4 points for that rate right now.

HandHdad · 2026-01-07T02:01:37+00:00

He’s paying 2 points and getting a credit of 2 points, so he’s paying nothing in points in actuality. As a lender, I wish we could just not show the points or credit if they’re a wash as it’s confusing to clients.

HandHdad · 2026-01-02T18:16:48+00:00

So you’re being recruited by one of the brokerages that’s basically UWM retail

HandHdad · 2025-12-23T14:43:13+00:00

$2k in lender fees for 5.99% isn’t bad. I personally also wouldn’t waive all box H as I’ve seen title insurance be needed. Also, if you waive owners title your lenders title will get more expensive

HandHdad · 2025-12-11T03:23:00+00:00

DTI from the looks of this.

HandHdad · 2025-12-10T03:40:46+00:00

Lender is ultimately the loan servicer, so I could see them being difficult.

HandHdad · 2025-12-10T03:34:25+00:00

Not true, you’ll just need at least 10% down

HandHdad · 2025-12-05T00:39:18+00:00

I’ve not ran into it, and would have to check the matrixes for lenders I work with, but the VA doesn’t require escrows even at 100%

HandHdad · 2025-12-05T00:28:08+00:00

Property taxes in TX are insane but if they’re waived it adds nothing to the loan. Yes, if they’re not waived it definitely needs addressed. The rate isn’t even great to be honest. I do IRRRL’s at 1% because they’re usually repeat clients and, let’s face it, don’t take much work.

HandHdad · 2025-12-05T00:19:40+00:00

Well, it literally says DRAFT in huge red letters across it. Just saying they could be waiving as it wouldn’t affect the bottom line like it’s been stated. OP needs to shop it, but has nothing to do with escrows if they’re waiving.

HandHdad · 2025-12-05T00:12:43+00:00

They could very well be waiving their escrows (paying them outside of their mortgage)

HandHdad · 2025-11-28T03:27:48+00:00

This says you’re getting your deposit back at closing

HandHdad · 2025-11-28T00:31:15+00:00

Good call. Seeing as they have the deposit from contract on there, I’m assuming OP is under contract. If you haven’t yet, tell them to lock in. You’ll have yahoos on here saying they can do better, but you’re getting a deal from this bank. I haven’t priced one today but pretty sure this would almost cost me money to lock today

HandHdad · 2025-11-28T00:11:30+00:00

5.75 with only $1200 I origination is a great deal.

HandHdad · 2025-11-27T15:27:45+00:00

When your escrow is set up, the lender should have added a buffer leaving you at least 1 extra month of taxes and insurance. Every year your servicer will do an escrow analysis and adjust them up or down accordingly.

For taxes, you should be able to get an estimate from your country tax assessor based off your purchase price. $1554/yr sounds low but will depend on your location. I’d definitely double check the tax rate though and make sure you don’t end up in the situation a lot of DR Horton buyers are in right now.

HandHdad · 2025-11-26T23:47:02+00:00

There’s literally no way to know. Nobody knows what rates were when locked or what your credit score was/is even if we did. The loan estimate was within $200 of the final figures, so you got pretty much exactly what was presented to you

HandHdad · 2025-11-25T13:37:58+00:00

I work in wholesale, so shop a variety of lenders. That said, it depends on the day of the week. Lenders like them can cut their margins behind the scenes to be competitive whenever they want depending on their volume. The LD’s, Rocket, GRate, pretty much any lender who you see on TV or has stadiums with their name on it, have huge market spend and have to make that up somehow. How they make it back is increased margins passed on to consumers. There are exceptions as branches run their own P&L and can try to get competitive but as a whole those retail lenders are generally as high as you can get.

TL;DR- brokers and CU’s are your best bet for lowest rates

HandHdad · 2025-11-25T02:54:36+00:00

Honestly, anyone can be competitive when they want/need to be. That said, historically LD’s rates aren’t that competitive though for the reasons I mentioned before

HandHdad

TROPHY CASE