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  • Dr. Andy Schell, Ph.D., DBA, CPA, CMB

Fannie Identified How Borrowers can Pay Less for a Mortgage


Fannie Mae recently released a study of borrower and lender behavior spanning from 2017 to 2019.


Spoiler alert - borrowers who shop and borrowers with a four-year degree pay less.


The borrower's shopping approach is really interesting. The shopping approach relates to how many quotes the borrower requested before selecting the final transaction. It seems obvious, and the data found that borrowers who obtained multiple quotes paid less. The data also confirmed that borrowers who did not shop incurred more costs. As the folks at Consumer Reports state: a smart shopper is a comparison shopper.


The education factor identified borrowers that were likely to hold a four-year college degree or higher and those without a four-year college degree. The analysis found that borrowers with a four-year degree paid less than borrowers without a college degree. And while there remains a factor where race impacts cost such that black borrowers pay more than white borrowers and Asian borrowers pay the lowest of all, this race characteristic was not present among educated borrowers or shopper borrowers.


Fannie Mae concluded the study by noting that consumers face the risk of being exploited by lenders with vastly greater knowledge of the mortgage lending process. They also made the case that brokers charge borrowers more than credit unions and FDIC banks.

For more information, please visit HERE


MBS Financial Services supports the following areas:

  • Growth Strategy – We can help you plan and execute a growth strategy.

  • Hedging & Pipeline Risk Management - Dr. Schell can help explain how hedging functions, the benefits of hedging, and the risks associated with the activity. See blog posts.

  • Technology must align with a firm's strategic objective. Every mortgage lender's technology infrastructure significantly impacts its customer experience and employee workflow. MBS will help select, configure, and deploy the best technology solution.

  • Executive Development - Leadership is a learned skill. Dr. Schell can teach you to be an amazing leader, an effective manager, and an inspiring coach that can foster a vibrant culture.

  • Accounting Services – Dr. Schell, CPA, leads the accounting services team to become your outsourced accounting department. This alternative makes more and more sense for companies wishing to focus on their core business and also want trustworthy accounting and financial reporting support.


About Dr. Schell:

Dr. Andy Schell, Ph.D., DBA, MSML, MBA, CPA/CFF, CMB


Dr. Schell is CEO, Managing Partner, and Co-Founder of Mortgage Banking Solutions and the Founder of MBS Financial Services ("MBS"), based in Austin, Texas. Dr. Schell is known for his ability to turn "vision into reality" and "chaos into order" as he finds creative solutions to the challenges his clients face addressing Revenue Stability, Technology Enhancement, Financial Management, and Workflow Efficiency.


He has 4 decades of experience as a strategist directing the activity of both small and large groups of employees, including mortgage lending activity at Bank of America. His leadership knowledge extends from his hands-on experience and his academic training in his MBA, his master's degree in leadership, and his doctoral work to examine employee dynamics given leader stimulus.


To find out more information on MBS Services, please click HERE


Find more information at

DoctorSchell@MBS-Team.com ; (512) 501-2812;

Doctor Schell the Profit Doctor

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