The Mortgage Professor: Your mortgage price might not be the best price
So where can borrowers go to find out how the price of their transaction compares to the best available price? While the raw data are contained in the pricing systems of all lenders, distribution is limited to loan officers and mortgage brokers, who use it to price loans but (with some notable exceptions) not to educate borrowers. To fill this void, I recently added this facility to my website. To my knowledge, it is the only source of transaction-based price adjustments available on the Internet.
ABOUT THE WRITER
Jack Guttentag is professor emeritus of finance at the Wharton School of the University of Pennsylvania. Comments and questions can be left at http://www.mtgprofessor.com.
©2013 Jack Guttentag
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