Posted by Lee/AR on 2/6/10 11:16am
Msg #321628
These poor guys need our help...
So, keep doing those $50, $85 signings to help them out. From the NY Times:
Goldman made a series of political and business calculations in tallying Mr. Blankfein’s rewards. The timing, too, seemed deft: hours earlier, JPMorgan Chase had announced that its chief executive, Jamie Dimon, would receive a $16.6 million bonus and $1 million in salary. For once, Goldman, known for its big paydays, had grabbed the high ground by paying its chief executive less money. At the top, John G. Stumpf, chief of Wells Fargo, was paid $18.4 million in cash and stock for 2009 though he runs a less complex company.
|
Reply by Les_CO on 2/6/10 12:01pm
Msg #321634
Let’s remember that it’s the borrower that pays our fee 99% of the time. Either directly (on the HUD) or out of the Titles ‘closing costs’. The only true no-closing-costs loans I’ve seen were from GMAC some time ago,and I think they made it back in the YSP. Not to say the lenders aren’t making loads on money in this business, and NO one desirves those kind of salaries.
|
Reply by John_NorCal on 2/6/10 12:40pm
Msg #321643
Here in my area the only lender that I have seen with a true no cost loan is Fremont Bank. I'm having my own loan recorded in the next day or so, so I know there is absolutely no cost to me. They pay the signing service $150.00 and the SA gets $50.00. The guy who came out to sign my docs said he's happy to get those all day long, I guess that wasn't part of his economics course at UC Berkeley.
|
