Selecting the Wrong Lender

The wrong lender is one prepared to take advantage of its superior knowledge, together with the complexities of the lending process, to extract a price from the borrower above what the borrower deserves. Most price scams arise in connection with the locking process, and result in the borrower paying a higher price at lock than the price they were quoted earlier.
The most wide-spread scam is “low-balling”, which means quoting a price below the price the lender can or has any intention of delivering. The "market-volatility scam" takes advantage of changes in the market between the date of the price quote and the lock date. The "price complexity scam" takes advantage of the fact that accurate pricing depends on many factors, and the lender may over-rule some of the information provided by the borrower on which the price depends.
Borrowers using this site to select their lender can protect themselves against all of these scams, which they do at step 5.

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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

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