Nightmare Kickback

Kickbacks8/13/19- I hope you are having a great day and I hope your week is going well!  This is a crazy week in our family as My Dad is in Cooperstown watching my nephews, my wife and oldest daughter are at Camp Kessem helping out kids whose families are affected by cancer, and we are getting ready to ship bonus child Spencer off to Texas Christian University on Thursday!  Well, work comes first!

So a couple of weeks ago I was walking out the door at about 8:40PM when I received an urgent call from a Real Estate Agent that I know, but we have never done business.  I know there are a lot of agents know me but have never used me, but it will happen.  You will need me!  So the agent was totally cool and she said that she sent her client to a lender that was referred by an agent in her office, where she gets a portion of the commission earned on the loan too!  That doesn’t sound like a violation now does it?  LOL!  So the loan officer pre-approved the buyer, they found a house, they released contingencies and then the there was an issue!  The loan “did not approve”, but the buyer could get a higher interest rate at a different bank!  YAY!  The client was pissed, the agent asked if she could waiver her “commission,” the loan officer told her she is not a priority because there are a lot of refinances happening, and she called me!  So I called the buyer immediately, and the buyer got me everything very quickly!  We got disclosures out, we got an appraisal waiver and we closed the loan at a better rate than the first go around with the first lender!   The agent was thankful, and the client baked cookies and dropped them off!  I ate the cookies with my team!

So these people are around where they offer the world and they give you nothing in the end.  You want your clients with someone professional that will handle each and every issue that happens on a file.  Greed may be good, but kickbacks are illegal and when you are dealing with shady people it makes you look shady!  When someone is not making full pop on a file and they have to work a little harder to make it happen and they have poor work ethic, low morals and they are shady then what?  Then you call me at 8:40PM?  LOL, I will always take that call, but I hope you call me first the next time!

Interest rates are still great!  We can go a little lower on rates with more down.  The market is still volatile, but rates are still FANTASTIC!! Below are rates as of this moment:

  • 30-year fixed conventional 1st Mortgage with 25% down – 3.625% (3.673 APR). Loan amounts up to $484,350.00 = $2208.88
  • 15-year fixed conventional 1st Mortgage with 25% – 3.125% (3.210 APR). Loan amounts up to $484,350.00 = $3374.03
  • 5/1 ARM 1st Mortgage –  25% down – Fixed for 5 years and then becomes variable – 3.125% – (3.144 APR) Loan amounts up to $3,000,000.00 = $12851.26
  • 7/1 ARM 1st Mortgage – 25% Fixed for 7 years and then becomes variable – 3.250% – (3.261 APR) Loan amounts up to $3,000,000.00 = $13,056.19
  • 10/1 ARM 1st Mortgage – 25% Fixed for 10 years and then becomes variable – 3.375% – (3.385 APR) Loan amounts up to $3,000.,000.00 = $13,262.89
  • 30-year fixed 1st Mortgage FHA loan 3.50% down – 3.250% (4.663 APR). Loan amounts up to $484,350.00 = $2144.81 + $349.08 PMI = $2493.89
  • 30-year fixed 1st Mortgage VA loan 0% – 3.250% (3.296 APR). Loan amounts up to $484,350.00 = $2107.92
  • 30 Year Fixed rate 1st Mortgage Jumbo Loan 25% down – 4.125% (4.145 APR).  loan amounts up to $3,000,000.00 =14,539.49

So tonight is dinner at the Old Town Junction and tomorrow is dinner at Wicked Chicken!  Yup, that is what Spencer wants for her last two dinners at home.  It’s kind of like being on death row when you go to college, we let you choose your last meals!  I will be around all week and the weekend!  My cell # is 661-714-6258 and my office line is  661-260-2970.  I hope you have a great week and please let me know if you need anything from me.