One of the core tenants of our business is that we’re honest about money. This means that we tell our customers how we much we are paid and what it means to them. We do so because transparency is the foundation of a trustworthy relationship. Other companies may claim to be transparent, but we haven’t found another company in the mortgage industry that tells consumers how much they are paid.
Specifically, lenders (banks, credit unions and mortgage companies) do not disclose the commission they pay to brokers or how much they make when they close a loan. Likewise, lead generation sites, like LendingTree, do not disclose how much they get paid by the lenders that post rates on their sites. Withholding this information is a breach of trust because higher commissions and higher fees result in higher interest rates for consumers. At Own Up, we believe that our customers have the right to know how we are paid and what our compensation is used for.