MarkB has it right. Places like lending tree are not a broker. They are paid a fee to do the advertising for brokers and lenders.
Brokers write a loan and then pass it of to a morgage co or bank. They get paid to write the loan (by the lendee, but not always, and usally make something on the other end "selling" the loan). However most never put out the money as it comes right from the actual lending instatution "buying" the note. They primarily make their money doing the leg work.
And yes brokers contribuited to the melt down. Just like stocks, they paid to sell. Brokers don't care who's buying, just that they are selling. If they can buy from another broker (write new loan) and make a buck they do. And just like stocks they sell to each other collecting fees each time. I went through three "sells" berfore landing on a reputable lending co.
A less than reputable broker could/would put anything down to "sell" the note. Thats how a janitor can buy a million dollar house with a monthly payment more than he brings home.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - A Tractor's Point of View - by John Manley. I began my life on August 3,1941. I was actually built at different times and days but I was officially an M Farmall on August 3.I was real nice and shiny. That�s me, in the old picture, third from the left. I was loaded on that train and sent to a little town in South Carolina. I didn�t get to see much of that town. I was moved off the train fast and on to the dealer�s
... [Read Article]
Latest Ad:
1958 FORD RARE 4x4 801 TRACTOR, ELENCO/FRONT DRIVE, FRONTLOADER AND WEIGHTED REAR WHEELS, FIVE SPEED, LIVE PTO, GAS ENGINE, NEW REAR WHEELS AND TIRES, ENGINE RUNS.
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
