Jason Sardi, Pennsylvania Mortgage Broker

It was about 5:48 PM when I got out of this evening's closing. I arrived at 4:00 PM. It's my second of the month and boy do I have some bar water cooler stories for anyone interested. Before I go further, I should mention that each respective client at each respective closing did their due diligence in making sure no question they had was left unanswered. Kudos to you both! On one hand we have a first time home buyer. On the other, was a first time Real Estate Investor. I'll get to that in a moment though...

I found out that tomorrow is Mental Health Day. I wasn't aware that I had a three day weekend. Yet, it makes one (me) think.

My mother has spent her entire life working with and teaching those who society deems as mentally challenged. As a youngster, I saw that she brought her work home with her and I saw her passion being unrewarded with financial gain. I saw her passion to help cause a heck of a lot of stress... passion sometimes goes unrewarded along the less than merry way.

From day one, I looked at a lot of those who weren't socially compatible mentally, as persons who were closer to a higher power than the rest of us. While their intellect failed socially, at least in our culture, their hearts performed miracles of humane notions. It wasn't that ignorance was bliss; it was and is their heart that our intellect would not allow us to understand.

Tough times, damn right! I propose a simple solution to lead us to the promised land, that of one which will make our lives a bit more comfortable.

I left that closing (or so I thought) at 5:48 PM this evening but before I did... the client gave a speech that stimulated both my mind and heart. Because of that, I left much after 5:48 PM;-) Sure, they were trying to wax intellectual in saying that they want to build a team for future reference... but I saw something different every time his eyes made contact with mine. All he really wanted was a sense of trust and stability. All they really wanted was to make sure folks they worked with were really on their side.

My mother has represented folks who weren't in tune with society as we know it for her entire life. Now I represent folks who are unsure of what it takes to buy or refinance a home. While it is not easy to take on the media in mid-drift, it makes little difference if we burn out or fade away. Both options are failure. I won't concede that just yet.

Tis life...

I gotta give it to Active Rain, its pulse on Google has seemed to transform into various other media forms. I've read many a post here on how fellow Mortgage Professionals have been contacted by newspapers, television, magazines, etc... because someone came across their blog here on Active Rain.

A couple of weeks back, I got an email from Erica Ramus, a broker with Realty Executives in Pottsville, Pa. She had given my number to a reporter for the Republican & Herald, a newspaper also out of Pottsville, Pennsylvania. They were to run a story on the mortgage mess and wanted to get some insight from local Real Estate Professionals.

The story ran on the 27th of September and is actually a pretty good article. It's a pretty in depth look and analysis of what is going on in the Mortgage and Real Estate Industry. In simple terms, it also gives consumers insight to educate themselves when buying a home. If they already own one and are finding themselves in times of trouble, this article can also be of benefit.

You can check out the full story and the link here.

Erica and I were quoted several times in the article. I even came off as quasi-intelligent, which is typically a good thing. So a belated thank you to Erica for spreading some Sardi love to the local media and a thank you to this forum... for publicity that costs just a few moments of our own precious time.

*This is some interesting stuff, you must register by tomorrow. Read on...*

Our friends over at one of the three major Credit Reporting Agencies (TransUnion) ran into a bit of trouble recently. It has been alleged that TransUnion improperly sold consumers' personal data. That could mean that your information was sold to various companies who could then overview your information and solicit you for such things as Mortgage Loans, Credit Card Offers, heck... credit of any kind. If you applied for credit in the past twenty years or so, this could apply to you. If you pay for everything via cash or have Mafioso ties, this may not apply;-) Here's the link.

Imagine that, Credit Reporting Agencies making money on the side selling leads. This is good news for consumers though, and free credit monitoring is key in this. Typically, one must pay for this type of monitoring service. Due to this ruling, you have several options and having your credit monitored for free is one of those options. There seems to be a possibility that you could receive cash via a settlement, but I wouldn't count those hens just yet. Here is the link to register.

**Remember, you must register by September 24, 2008 to receive these benefits.**

Please visit the above links for more information and to register.

Yesterday consisted of many phone calls with clients about an abundance of things. One call and client stood out from the rest though. That particular client is on the fence in wanting to lock their rate. While they are well aware that rates can change daily and even hourly, they have their fingers crossed that rates will nudge down just a tad so the rate they receive can be the talking points at many a dinner party and business functions.

As we were talking about rates, the market, our dissertations on world peace, who is going to win the Steeler/Eagle game this Sunday, and the like... the conversation took a turn. Please note that this gentlemen was a shopper; he had said he had talked to over 15 companies in two weeks before deciding on me. Here's where the conversation turned a bit interesting, and I'm paraphrasing:

Me - So, I gotta ask... what made you choose me over everyone else? Truth be told, we all have similar if not the same in products. Especially for your situation (money down, excellent credit, can document his income, etc.)

Client - Oh, that's easy. You had the best rate.

Me - Really, that's the only reason?

Client - Well, you answered all my emails and returned all my calls very fast.

Me - So, service came into play?

Client - Oh yeah, absolutely.

Me - What if you had to choose between service and cost (rates, fees, etc)?

Client - I'd choose both.

Me- Of course you would, we all would. But what if it was one or the other, not both?

Client - (Paused for a bit) I guess I'd feel more comfortable knowing that I was going to have service, someone to speak with and who would be there every step of the way and after if necessary.

Me - Novel idea, eh? That's so overlooked and misunderstood by consumers about the Real Estate Business. There's this fixation on cost and few realize the importance of service.

Client - How about you, do you shop that way?

Me - Very fair question. Tell you what, I'll give you two examples. As a Mortgage Broker, I deal with a variety of Wholesale Lenders and Banks. Historically and even presently, the ones I use for the majority of transactions I close don't have the best rates. Actually, they may be an 1/8th or a 1/4 higher in rate at times.

Client - Really, why wouldn't you use the ones with the lower rates to get us better deals?

Me - Oh, I've used them in the past. The service with them was pretty bad. I wouldn't get return phone calls or emails for days and that concerned me. When I quote and lock a rate, I do so for a certain amount of time. If the service is lacking, that may delay closing. It can jeopardize any rate I quote or lock, increasing the likelihood of the deal falling through. It's one thing to quote the best rate, quite another to close at it.

Client - That makes sense, I'm still VERY rate sensitive though. I'm sure you can understand that.

Me - Oh crap, rates just went up 2%!

Client - Oh NO!

Me - I'm kidding.

Client - You almost gave me a heart attack!

Me - I just wanted to loosen things up a bit. The other example I want to give you is an example I have used before. It is my homeowners insurance agent. I shopped around before buying my home and he was probably the 4th cheapest out of the five companies I shopped around with.

Client - Wow, that seems like a financial mistake to me. You are spending more money that you have too, Jason.

Me - And I'm also getting what I pay for. My insurance guy is there whenever I need them, I'll shoot him an email and he will call me right away. He was referred to me by one of my best friends. There's a trust factor there, as well as a service factor. I was and am willing to pay for that... it's more than worth the price for me.

Client - I understand what you are saying. So, does that mean I have to pay you more. I'm also VERY fee sensitive as you well know.

Me - Nope, I'm charging the same as I said at the beginning. The point I'm trying to make is that for your future mortgage needs (while I hope you would come directly to me) if you do shop again, service is something you should take into consideration just as much. In my experience, service and trust tend to go hand in hand. Those two factors will also help ensure you get a good deal and the straight scoop every time.

Client - So, I guess I'm getting off cheap considering ...

Me - Yeah, you are getting a killer deal. But, it's worth it for me to earn your business and your trust.

Client - I appreciate this, I really do. And your patience through this has been pretty impressive.

Me - It is a virtue and you are very welcome. Thanks for saying that. Oh wow, rates went down 2%!

Client - Shut up