As a mortgage broker, you are guaranteed to enter into the ping-pong interest rate game. Are you prepared so you reduce your risk of losing the sale, without losing your commission at the same time? Let’s make sure by looking at the all-too-familiar scenario.
A mortgage broker quotes a potential borrower the best rate available at that time. The broker has answered all of the questions and concerns of his or her clients and disclosed all the relevant points. The broker explained the weaknesses in the borrower’s loan application and guided and helped the borrower(s) to resolve those issues.