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Originally Posted by portereight
When we went back to our branch to sign the papers we were greeted with the most apologetic excuse making, bs I've ever heard as to why we couldn't possibly have been offered that deal directly. Then our banker starts congratulating us on the rate and terms we received. She was the one who made the offer to the broker. I just stared at her dumbfounded for a moment.
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I will tell you why.
Because when she was making you the offer, it was in her interest to "get" you for as much as possible.
I noticed that my little hot piece of ass banker used to always try to dig me for just that little bit more. Whether it was a line of credit (unsecured), or my mortgage, or later my secured line of credit, she always tried to ding me for an extra half point.
I was told that they are under pressure to produce higher revenues, as well as paid a commission. (I don't know if they commission part is true).
Anyway, I just snapped at her over the secured line of credit once and threatened to take my business elsewhere. Only then did she match what all my friends were getting on their line of credit (i.e. at prime and wave the fee)
(Royal Bank by the way)