I just finished reading Carolyn Warren’s book, Mortgage Ripoffs and Money Savers. As I mentioned over the weekend, this is a longer read at 222 pages…it is full of information that I feel is very useful. If I had to be critical, I would say at times the book is a little on the sensational side…with that said, it does have me thinking. I’ve only worked for one mortgage company and Carolyn, the author, has not only worked for several mortgage companies, but also varies types of mortgage companies (wholesale, subprime, bank, consumer loan, etc.). She has been more exposed to various types of Loan Originators than I have. I wonder how much of her experience is more subprime/consumer lending vs. working for an ethical mortgage company?
What is most valuable with Carolyn’s book is that she teaches consumers how to shop for a Mortgage Professional…not interest rates. She also has great points on how to compare good faith estimates and understanding YSP (Yield Spread Premium). I do have some small issues with how she covers YSP. I’ll have to do a separate post to dig into this issue and being a Correspondent Lender.
Bottom line, she is providing consumers with a lot of information to help them navigate getting a fair deal on their mortgage and I am all for that!
Thanks for the review…I’ll put this on my reading list for the future.
Thanks, Tony. I’m interested in your review on this book, too!