Mortgage Blog

Just got a phone call from unknown company  who claimed
that they can provide better service than my current service
provider. And I told them that I don't want to waste their time
since I am happy with my current service.

There is no reason for me to switch, or even try. I spent so
much time on the web, on the blog, etc.

It's the same for other industry as well. When a person has
a very good family doctor, they don't switch; when people
have a good realtor or mortgage broker, I don't recommend
to switch. When I work on the loans for my clients, I know
how to submit those files to which lender to avoid certain
"hurdles".

And indeed the mortgage industry has some difference from the
other industry. We do have something called "mortgage rates",
we do have something called "customer service". And the most
different thing is that the rate changes all the time,
and the borrowers can switch lenders to get lower rate if they
want to. And also even if they switch the lender all the time,
they may not be able to get the "lowest" rate since we can
not beat the market.

Even though the rate we quoted two weeks ago or one month ago
was low enough, it may be the lowest at the current market.
And indeed we need have some wisdom to think about the right
strategy to make the right decision.

We learn from the books, we learn from the experience, or the
mistakes we made. From Delivering Happiness, the author was
lucky to sell the first company(LinkExchange) and survived
the 2nd company(Zappos). Sometimes, I can not imagine what
will happen to Zappos if Wells Fargo did not loan them 6 million
line of credit. But I agree with the author on the following:
1)Don't outsource the core business.
2)Superior customer service(plus good products) can win
lots of loyalty customers.
3), 4)...

Stay tuned. And yes, the rate is up a little bit today.
Don't trust the news, they are a little bit delayed.