Parker Mortgage Tip: Big Bank Wants – Needs Mortgage Broker Business!

In today’s Parker Mortgage Tip, I am going to share what a Representative from Wells Fargo Bank confessed about their business operations. This will reinforce why it better for you to get your next mortgage Parker Colorado or Colorado home loan from Colorado Mortgage Brokers.

This Wells Fargo Bank Representative told our company that they are very committed to their “Wholesale” business.  Wholesale means that the Bank does not directly originate the loan but it comes from outside sources such as Colorado Mortgage Brokers.   This representative went on to say that 60% of Wells Fargo business is from Wholesale.  This Wells Fargo Representative added that their Wholesale business is More Profitable and there is also Less Fraud.  If you go back to my earlier posts about the differences between Banks and Colorado Mortgage Brokers, you will see why.  Banks don’t pay our salaries or any costs associated with bringing that mortgage Parker Colorado or that Colorado home loan to them.  Banks such as Wells Fargo makes more money when we do it than doing the loan internally. 

There is also Less Fraud!   This again reinforces the fact that you should consider getting your next Parker mortgage or Colorado home loan from Colorado Mortgage Brokers.  Don’t go to the Banks.  Banks depend on Colorado Mortgage Brokers to keep them in business!   Although this is the truth, banks will not tell you this.  They have to protect that professional image.  Banks give Colorado Mortgage Brokers special pricing incentives to bring your mortgage Parker Colorado or Colorado home loan to them. 

The next Parker Mortgage Tip will address things you should ask Colorado Mortgage Brokers when you shop for your next mortgage Parker Colorado or Colorado home loan.