Home Forum Contact Create an Account Sign In Create a Trust

What’s in it for Mortgage Brokers?

Home Forums General EHTrust/EHT Topics and Creative Real Estate Financing What’s in it for Mortgage Brokers?

This topic contains 4 replies, has 0 voices, and was last updated by Avatar of ahutton ahutton 11 years, 5 months ago.

Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • #4902
    Avatar of ahutton
    ahutton
    Member

    Say a mortgage broker gives you a lead from his list of dead deals. I bet you can’t legally pay him anything, right?

    Perhaps you could “buy the lead” from him when the trust is set up and working???

    Seems like there should be more incentive for the mtg broker than the slim chance that the RB might come back and use him when he gets a new loan to cash out the trust.

    Amy

    #26117
    Avatar of jerry carey
    jerry carey
    Member

    Amy said:

    I bet you can’t legally pay him anything, right?

    Why couldn’t you :?: They can be paid a referral fee or a “finders fee” up-front at the trust creation and with the future hope of getting the refinance at trust termination. If your state has laws against this … simply make the Loan Broker a Co-Beneficiary of the trust and he would be paid through the closing of the trust at termination as a Co-Beneficiary!

    Jerry Carey

    #26118
    Avatar of getsmart
    getsmart
    Member

    @Jerry Carey wrote:

    simply make the Loan Broker a Co-Beneficiary of the trust and he would be paid through the closing of the trust at termination as a Co-Beneficiary!

    how would i go about explaining this to the mb? also is there some type of definition booklet i can read to catch up to speed on the terms?

    #26119
    Avatar of mtnwizard49
    mtnwizard49
    Member
    #26120
    Avatar of joecain
    joecain
    Member

    Bender’s Back !!

    Thank you Gary.

    To GetSmart:

    Also, try this, found elsewhere on this Board in the Documentation Assistance Section on the crazy Acronyms that we often use around here and what they mean.

    Hopefully this will get you on your way:

    http://www.landtrust.net/board/viewtopic.php?t=6840

    #26121
    Avatar of scott
    scott
    Member

    I’ll be a copy cat an say:

    Try This http://landtrust.net/board/viewtopic.php?t=4397&

Viewing 6 posts - 1 through 6 (of 6 total)

You must be logged in to reply to this topic.

Posted in
Contact Form
Your Fullname:


Email Address:


Phone:


Best Time to Call:


Subject:


Your Message:


Security Code:

 

Can't read the above security code? Refresh