Borrower
  • Completes a "free quote" form on a mortgage website

Loan Officer
  • Purchases leads from a mortgage website
  • Competes for lead against other loan officers
Borrower
  • Receives mutliple Good Faith Estimates
  • Chooses the apparent best quote

Loan Officer
  • Loses business to unrealistic Good Faith Estimates
  • Struggles to gain borrower's confidence
Borrower
  • Fees change at closing
  • Has little power to negotiate
  • Often settles for higher fees

Borrower
  • Requests a quote from goodfaithestimate.com

GFE Member
  • One member is immediately notifed of borrowers request for a Good Faith Estimate
Borrower
  • Recieves one accurate Good Faith Estimate from a Member
  • Has confidence the Good Faith Estimate is accurate
  • Can compare Good Faith Estimate with other quotes

GFE Member
  • Provides one accurate Good Faith Estimate to borrower
  • Notifies borrower of GFE Membership status
  • Good Faith Estimate accuracy is not questioned by borrower
Borrower
  • Chooses GFE Member's estimate
  • Fees do not change at closing

GFE Member
  • Completes closing with a happy borrower
  • Improves trust in the lending industry
  • Can compete with inaccurate Good Faith Estimates


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