![]() ![]() So this means that you could get the EXACT same mortgage, from the EXACT same company, but if you go directly to that company you could pay between 2% and 1.5% more in fees. So that means that a broker would be able to offer you a 15 year fixed through Quicken Mortgage at a rate of 3.75% with between. Most (most does not mean all) Mortgage Brokers make somewhere between 2.0%-2.5% per transaction. This quote does not include the mortgage broker’s compensation. This quote shows that an interest rate of 3.75% through Quicken’s Wholesale channel has a 1.531% credit attached to it. If you are working through the company’s wholesale channel it means that you are working with a broker as an intermediary. ![]() When you go to a company’s retail division, it means you are working directly with the company as a consumer. This is a quote for the exact same scenario from Quicken Wholesale just 6 days later. Typically you pay points to get a lower than market interest rate. Points are additional closing costs from the lender to get the quoted interest rate. The interest rate is 3.75% and there are 2.5% in Points for the quote. It shows a quote for a 15 year fixed refinance. It is a Loan Estimate (LE) from Quicken’s Retail Division. These were recently posted on LinkedIn by a fellow mortgage broker. There is one option that never makes sense, and that’s Quicken Mortgage. While obviously biased towards mortgage brokers, there are admittedly circumstances where a broker, bank and direct lender could all make sense. ![]() Protect Quicken Loans’ interest and reputation as the nation’s largest online retail mortgage lender and the second largest retail mortgage lender in the U.S.As we went over in the last installment, you have a wealth of options when deciding where to go for help with your home financing.Ensure exceptional client experiences with ongoing communication throughout the entire loan process.Educate and advise clients on the home buying process and how to best manage their mortgage(s).Evaluate various loan programs and affordable financing plans from a broad range of Quicken Loans mortgage options.Use state-of-the-art technologies to conduct credit, underwriting and financial analyses to qualify clients for various loan programs.Interview clients to gather information about their unique financial situations, needs and objectives.Deliver world-class client service and establish ongoing financial services relationships.Consult with our clients about current and future needs in achieving their financial goals.Complete and pass all assigned Mortgage Banker training and licensing activities – 15 weeks of Mortgage Banker training and licensing completely paid by Quicken Loans.And like all successful entrepreneurs, they work hard, think creatively, and earn big.Īs the faces of the Quicken Loans experience, our Mortgage Bankers: Quicken Loans Mortgage Bankers own their own business within our business and are given a wide variety of options on how to accomplish individual and team goals. If you are passionate when it comes to sales, want high earning potential, and do not fit the 9-to-5 mold, then a career in mortgage banking might be right for you. We are revitalizing the communities in which we live, work, and play. We’re revolutionizing the mortgage banking industry, while developing new technology-driven ventures along with life changing career experiences. We certainly have the desire and ability to adapt to a changing world, but we are known to have changed the world ourselves. The Quicken Loans Family of Companies (FOC) is obsessed with always finding a better way through the creativity, innovation and transformative thinking of our leaders and team members. ![]()
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