We launched a new site for a brand new company called Trusted Mortgage Advice. The domain is www.trusted-mortgage-advice.com and they have a new twist on the mortgage business. They offer mortgage advice like a consultant - for a flat fee with no traditional bait and switch.
The company's goal is to provide independent advice on the loan someone is trying to get. So if you have a quote and a good faith estimte they can review it to see if they can help you better negotiate the offer and save money. For this you pay a flat rate fee similar to an appraisal.
The company founder tells me that in this mortgage market people are more prone to take the loan in front of them rather than shopping around. A friend of mine in the mortgage business confirms that since loan programs are more limited and underwriting is tighter there is definitely a sense of "take it now before it's gone."
So with there being a sense of distrust right now with all of the negative mortgage news they may be onto a new model that makes sense given the changes in the business.