As a mortgage broker you should be aware of the mistakes that are common so that you can avoid them. Also if you know what the common ones are, you should be able to help a colleague from making them as well. Earlier we discussed working backwards. Second is working for the wrong party. That is why you contact lenders first so the borrower will not try to negotiate a reduced fee at the last minute. Some people think they can get a better deal on their own even if they do not have the knowledge to close the deal. As a broker, it is recommended that you work for the lender. If you have developed a very good working relationship with a couple of lenders and they are receiving volume from you, then they will value your business. I imagine they will work with you and give you breaks when they can.
