THE LENDING GEEK

So how do you know whether your broker is treating you right? You check the “Good Faith Estimate” you [should] receive within three days of submitting an application with any loan brokerage. Without an explanation of this form, however, you might as well be signing a document written in a foreign language. In this article, I’ll do my best to dissect these fees and give you an understanding of what needs to be there, what might be there, and what should not be there.

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I am a real estate salesperson. What this ultimately means is that I can both act as an agent in the buying and selling of real estate and I can also originate loans, including construction loans, rate/term refinances, cash-out refinances, purchase money mortgages, etc. There are tons of licensed real estate salespeople in California, but there are also a bunch of unlicensed agents doing business under a bank’s corporation license. This only comes into play when you’re talking about loans, because all real estate agents must be licensed to sell houses.

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