I recently read something about the "right way" to do something. The author went on to say that he did not know there was a "wrong way" to do this particular thing. Since he has been doing it differently than the "right" guy for all these years, he must be doing it wrong. The subject was not important, but the article was comical and the author made a valid point. Just because one person says there's a "right way" to do something does not mean all the other ways are bad.
The same thing can be said about the Loan Officers, Mortgage Products and the different lenders that provide them.
Practically every Mortgage Broker has their own favorite Lenders. Some have higher priorities onwriting, some on nothing more than "A" paper borrowers, some on sub prime borrowers. The point is, everyone from the Lender to the Mortgage Broker focuses on different aspects of the business. None of these Lenders or Brokers can be classified as being "wrong", can they? Just because they may have different philosophies does not mean they are wrong, right?
The same goes for selling the Option Arm I have actually witnessed several Loan Officers sell the Option Arm in a way that made me totally confused, and I kind of understand the general principles of the product. Never the less, the person got the deal. Yup, I was amazed.
The point is, just because there are different philosophies does not make one "right" and one "wrong", does it? Just because they are different does not make one less competet than the other, does it?