Comments on: How shopping for a mortgage online is like Morpheus' enigma http://lenderama.com/2007/11/14/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/ The Original Mortgage Blog. Providing the Mortgage Industry with News and Information Since 2005. Wed, 10 Mar 2010 20:33:02 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: DenverWade http://lenderama.com/2007/11/14/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/comment-page-1/#comment-677 DenverWade Wed, 21 Nov 2007 02:11:58 +0000 http://blog.mariah.com/2007/11/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/#comment-677 Todd says in response to the Lending Tree model, "you just become a lead." Unfortunately, you can become a lead without ever entering your personal information into a submission form. Even if you approach the process the old-fashioned way (by picking up the phone), you are still in danger of becoming a lead. As many of you know, when a mortgage broker pulls credit it creates a "trigger lead" at the credit bureaus that is sold to other mortgage brokers. It's a good idea to get your client's permission to put them on the opt out list so that they can't be put on the trigger leads list. www.optoutprescreen.com http://www.reddoorhomeloans.com Todd says in response to the Lending Tree model, “you just become a lead.” Unfortunately, you can become a lead without ever entering your personal information into a submission form. Even if you approach the process the old-fashioned way (by picking up the phone), you are still in danger of becoming a lead. As many of you know, when a mortgage broker pulls credit it creates a “trigger lead” at the credit bureaus that is sold to other mortgage brokers. It’s a good idea to get your client’s permission to put them on the opt out list so that they can’t be put on the trigger leads list. http://www.optoutprescreen.com

http://www.reddoorhomeloans.com

]]> By: Hamp Yonce http://lenderama.com/2007/11/14/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/comment-page-1/#comment-676 Hamp Yonce Sat, 17 Nov 2007 18:57:13 +0000 http://blog.mariah.com/2007/11/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/#comment-676 Clever analogy. The current flock of online originators make me have to double up on my purple pills, for heartburn. Clever analogy. The current flock of online originators make me have to double up on my purple pills, for heartburn.

]]> By: Paul http://lenderama.com/2007/11/14/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/comment-page-1/#comment-675 Paul Fri, 16 Nov 2007 01:54:50 +0000 http://blog.mariah.com/2007/11/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/#comment-675 So it's safe to say the mortgage model shouldn't be 'bait and zwitch'. So it’s safe to say the mortgage model shouldn’t be ‘bait and zwitch’.

]]> By: north carolina mortgage lender http://lenderama.com/2007/11/14/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/comment-page-1/#comment-674 north carolina mortgage lender Thu, 15 Nov 2007 23:58:17 +0000 http://blog.mariah.com/2007/11/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/#comment-674 what's annoying is when the borrowers actually believe that the rates are Bankrate are actual rates! When they first started...they had lenders posting 1% lower than the average 30yr fixed rate. needless to say a lot of borrowers were surprised at closing. what’s annoying is when the borrowers actually believe that the rates are Bankrate are actual rates! When they first started…they had lenders posting 1% lower than the average 30yr fixed rate. needless to say a lot of borrowers were surprised at closing.

]]> By: Paul http://lenderama.com/2007/11/14/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/comment-page-1/#comment-673 Paul Thu, 15 Nov 2007 17:29:52 +0000 http://blog.mariah.com/2007/11/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/#comment-673 See I always thought that pill business was from "Total Recall". As for the Bank Rate model - I just read about a mortgage company in my area that filed bk last month as a result of a $46M judgment relating to a lawsuit where BankRate was named as another one of the defendants. Bank Rate settled their end of the case and this local mortgage co. filed bk. Needless to say, whatever path Zillow chooses I imagine will be carefully weighed. See I always thought that pill business was from “Total Recall”.

As for the Bank Rate model – I just read about a mortgage company in my area that filed bk last month as a result of a $46M judgment relating to a lawsuit where BankRate was named as another one of the defendants. Bank Rate settled their end of the case and this local mortgage co. filed bk.

Needless to say, whatever path Zillow chooses I imagine will be carefully weighed.

]]> By: max http://lenderama.com/2007/11/14/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/comment-page-1/#comment-672 max Thu, 15 Nov 2007 11:36:27 +0000 http://blog.mariah.com/2007/11/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/#comment-672 Thanks for such a nice article. . Max Thanks for such a nice article.

.
Max

]]> By: Todd Carpenter http://lenderama.com/2007/11/14/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/comment-page-1/#comment-671 Todd Carpenter Thu, 15 Nov 2007 04:50:12 +0000 http://blog.mariah.com/2007/11/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/#comment-671 No Phil. It just proves you are a bigger geek than I am. No Phil. It just proves you are a bigger geek than I am.

]]> By: P in CO http://lenderama.com/2007/11/14/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/comment-page-1/#comment-670 P in CO Thu, 15 Nov 2007 04:15:43 +0000 http://blog.mariah.com/2007/11/how-shopping-for-a-mortgage-online-is-like-morpheus-enigma/#comment-670 Nice analogy. Cypher had the quote about why didn't I choose the blue pill. Do I get bonus points? Nice analogy. Cypher had the quote about why didn’t I choose the blue pill. Do I get bonus points?

]]>