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

This Wells Fargo Bank Representative informed our company that they are committed to their “Wholesale” business.  Wholesale means that the Bank does not bring in the business, 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 Bank Representative also confessed that their Wholesale business is More Profitable and there is Less Fraud.  This is because they do NOT pay our salaries for any of the costs associated with getting that mortgage Colorado Springs CO or that Colorado home loan.  Wells Fargo makes more money from Mortgage Brokers than doing the loan internally.  Remember all the differences between Banks and Colorado Mortgage Brokers?  If not, please go back to the earlier posts and you will clearly understand why.  

There is also Less Fraud!  This again validates the fact that you should consider getting your next Colorado Springs mortgage or Colorado home loan from Colorado Mortgage Brokers instead directly from the Bank.   Banks rely on Colorado Mortgage Brokers to make money!   This is the truth although they will not tell you this.  They have to present that professional image.   Banks give Colorado Mortgage Brokers special pricing incentives to bring your mortgage Colorado Springs Colorado or Colorado home loan to them.  

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