The Professor’s 3 Levels of Protection to Mortgage Shoppers

1. Decision Support: Receive His Help in Selecting the Type of Mortgage That Best Meets Your Needs

You want decision support in selecting the loan program that will cost you the least over the period you expect to have the loan. The professor’s approach to making this calculation, found nowhere else, is state-of-the-art, and uses valid pricing as described below. This removes the risk that an inexperienced or careless loan officer will place you in the wrong loan.

If you are refinancing, you want this decision support to include your existing mortgage. The professor includes your existing loan in the cost comparisons, assuring you that the new mortgage you select will cost you less in total than the old one.

2. Price Validity: Shop Valid Prices Anonymously

For mortgage prices to be valid, they must be posted directly by lenders, fully-adjusted to your deal, and current.

Shop Prices Posted Directly by Certified Lenders: You want direct access to the prices posted by the lenders you are shopping. Posted prices are those at which the lender is prepared to lend. You do not want price quotes subject to the discretion of a loan officer (LO), which can be quite different.

When first contacted, LOs may low-ball the price in order to convince you that his prices are the best and you should select him and reject the others. When it comes time to lock the price, which is the point at which the price quote becomes a commitment by the lender, low-balling morphs into” high-balling,” where your loan is priced above the posted price . At that point, you are heavily committed and backing out would be costly.

Having access to posted prices protects you against both low-balling and high-balling.

Shop Prices Fully-Adjusted to Your Deal: You want the prices you shop to be adjusted for all the features of your transaction that affects the price. If there are 10 factors that affect your price and the site asks about only 6, it means that the site is assuming values for the other 4 that are most favorable to you. This means that the price quoted to you may be understated, which can result in an unpleasant surprise down the road.

The prices delivered to you by the professor are never understated.

Shop Prices That Are Always Current: You want the prices you shop to be live, not obsolete. Since lenders reset their prices every day, and sometimes during the day, a system providing timely prices must be directly linked to the system that generates prices. The professor’s system works this way, in the sense that any price change that a lender makes, automatically and simultaneously occurs on his site. Sites that require participating lenders to update prices on the site as a separate operation invariably fall behind, especially during periods of rapid market change.

Remain Anonymous Until You Select a Lender: You want to be able to shop prices anonymously. While you must provide the information needed to price your loan accurately , you do not want to disclose information that can be used to contact you. Otherwise you will be besieged by loan officers (LOs) competing to see which is the better liar in quoting low-ball prices to you.

3. Ombudsman: The Professor Is Yours Just In Case

Mortgages are complicated, as is the mortgage process, things sometimes go wrong even with the best systems, When that happens, it is helpful to know that there is an informed and objective third party with the clout needed to find a solution. The professor or his agent is that party.

Want to shop for a mortgage on a level playing field?

Why Shop for a Mortgage with the Professor?

  1. Receive His Help in Finding the Type of Mortgage That Best Meets Your Needs
  2. Shop Prices Posted Directly by His Certified Lenders
  3. Shop Prices Fully Adjusted to Your Deal
  4. Shop Prices That Are Always Current
  5. Get Him as Your Ombudsman Just in Case

Read More About the Support and Protections Listed Above

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