And, yes you are right. We all need each other right now and a good mortgage broker and/or loan officer is invaluable regardless of market conditions.
It's the $ made on the back end of the loan that was traditionally not disclosed to client. It is the hiked up interest rate the loan broker makes for selling the loan interest rate above par.
In CO the good old days of loan officers not having to disclose this are OFFICIALLY over. Now mortgage brokers have to disclose YSP to all potential borrowers but banks don't. HUH?
I work with everyone and bring in retail banks and specialized lenders to my marketing meetings as much as possible. We also have an inhouse lender, and they understand that there are programs that they just cant offer. Making them feel wanted and appreciated though is my main concern, i just wanted to get this post out there to bring awareness that Loan officers are a great asset in todays market.