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Posted by: loan_solutions on 2008-05-13, 11:44:44
I am a Loan Officer and i will tell you that lending tree is not a bank or a brokerage. they simply collect info on potential borrowers and sell it to lenders and brokers. there's allot of money in that sort of thing. my office typically pays between 10-20 per person and the company who supplies the info usually sells that info to multiple companies. If you are looking to refinance and do not know much about mortgages i would suggest going to a broker. Banks will only offer THEIR rates but brokers can send in applications to any bank. For example i am a Loan Officer and i can send a loan to any of the 150 banks my company works with across the US. Also since we are familiar with the different programs we can often get you better interest rates because we know where to look. if you have any other questions feel free to ask |
