I never even took an application from this person. This was a referral from a realtor I work with. We had a 30-minute phone call. He started the conversation asking me how much I was paid in commission and then he went on to tell me how his experience with a mortgage broker wasn’t a good one. I think he had a bad experience with paying a broker’s commission so I told him I work for a direct lender and I am a W2 employee who gets paid the same regardless of loan, even though that is really none of his business.
I listened and let him vent. Then he asked us about our fees. Then he explained how he was self-employed and that he needed to work with a lender who could help him in his unique situation.
I explained to him the many different non-traditional loan programs we have since this person expressed interest in a bank-statement loan. Then he told me he was going to be a non-QM mortgage with a bank I have never heard of and asked me what I could “bring to the table”. He then asked me to quote him rates and fees for non-QM loans. I told him it’s tough to give him a quote without knowing much information. I explained to him that rates set are by credit, down payment size, loan size itself, and loan type. I told him if he wanted, to go ahead and apply on our website and send me his business income documentation and I would be happy to see what he would qualify for.
Then he told me my pitch was “generic” and “a tactic” to get him to have his credit pulled. So yes, at that point, I did tell him we are wasting each other’s time if I can’t do an application, so he hung up on me. I did not yell at him.
He is not a customer of Embrace and never worked with us.