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In this country, non-bank lenders are getting overly competitive

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Mortgage Professional America | 12 Mar 2015, 05:01 AM Agree 0
A non-bank lender has said its broker incentive of Rolex watches valued at $12,000 does not constitute a conflict of interest.
  • Dominick Sammarone | | 12 Mar 2015, 09:30 AM Agree 0

    I hope the brokers are OVER FIFTY years old. My dad got a Rolex for an outstanding sales performance. He loved that watch. He showed it off to everyone and before checking the time on your cellphone, it was a great accomplishment! That was in 1974.

    No one under fifty even wheres a watch anymore. Under fifty isn't impressed or knows what a Rolex is. May as well give out a Corvette too… At least the younger brokers will have a great fathers day RE-GIFT.

  • | | 12 Mar 2015, 09:49 AM Agree 0
    who wants to sit in a small meeting with someone who keeps checking their cell phone?

    Wear a watch
  • griff | | 12 Mar 2015, 10:35 AM Agree 0
    Commercial is a whole different ballgame. A lot of residential mortgages were given for incentives. I've never been motivated by a dangling carrot so those mortgages were never an issue for me. but, there were a lot of my co workers at the bank who were.
  • Eric | | 21 Mar 2015, 05:41 PM Agree 0
    Who wants a Rolex these days, set me up with an <a href="">18k Rose Gold Audemars Piguet</a>
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