| Padded__ Rates__ are__ Anti-Entrepreneurial
Padded Rates are Anti-Entrepreneurial
The very notion of working from a padded rate sheet defies the core values of many entrepreneurs. For most entrepreneurs, thinking independently is part of the fiber of their being. The concept of having a corporate office dictate the use of a padded rate sheet interferes with their natural free flow of ideas.
Other drawbacks to Padded Rates:
Rates higher due to padding, might prove a tough sell
The underwriting that goes along with the padding is often slower
Underwriters may have their own bias against certain types of loans.
Quality control may be lacking
Underwriters may favor files from certain LO’s for personal or political reasons.
Often there are loan products on the open market not included.
When comparing one opportunity against another it might be useful to create a mathematical formula to reach more accurate conclusions. If you are considering a flat fee program you could convert the flat per file fee into percentage points based on your average loan size.
Aapex has been around since 1989 and is licensed in 32 states if you would like information on a non-padded rate branch opportunity visit :aapexnetbranch.net or call 630-918-8945
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