I had a bad deal today. My clients have been approved for a loan since December and all at once the lender says they are not approved because their debt to income ratios were high. What I thought was sad that he tried to take advantage of all the BAD PRESS lately regarding the mortgage industry and blame it on that. Well, I know for a fact that this is not the reason.
However, that is not the reason that I am posting this right now. We all know that in any given industry there are people that are not always honest and have little to no integrity what so ever. The mortgage industry is going through a tough time right now and I can not even imagine working that side of the real estate industry at this time. Brokers, loan processors, underwriters....I have to give it to you!
The real reason I posted this was to say THANK YOU!
Thanks to all of you who give our clients Honest Pre-Approval Letters.
Thanks for saving the deals at the last minute when our clients are about to fall out of contract.
Thanks for fighting to give our clients the best rate and closing costs possible.
Thanks for being there for our clients when they have questions and answering your phone and replying to emails.
Thanks for getting docs out on time.
Did I mention Thanks for saving deals at the last minute!
Thanks for everything you do that helps to make our clients have a good, positive buying experience!
There are some great people in the mortgage industry that fight and work hard for our clients. There may be some that are not so hot, but did you say Thank you lately to the lender that saved your deals and got them to closing on the mortgage side lately?
Agents, don't forget to thank your loan officers and processors when they do a good job for you and your clients!
By the way, thank you Matthew Blum for returning my call today. I appreciate it! Helped out a lot!
I have one going down too. I don't know that I can blame the loan officer though. The wife has absolutely refused to pay a *&%$#$&* $1,200 old delinquent debt. Says she's going to wait until "it comes off" in June.
Uh huh.
Hey Sally, I'm sure they love your business!
Hey Lenn, Good luck with that one! Thanks.
Not sure how regional this foreclosure epidemic is but we have had so many with the closing of textile plants, 100% adjustable rate loans now sending payments up, and no equity to sell for folks changing economic times. Now one of my favorite lenders tells me she has received word that no, I repeat, NO loans are to be written for anyone with scores less than 580. I had a young lady in her office with a 575 because of layoffs, less income now, and trying to downsize. She will have to rent while she tries to recoup her life. Life is not peaches and creme for some folks. Hope I can get her home sold quickly. She is very sweet, just overwhelmed at this point in her life. She is going to community college for retraining and will make it I know. But, this is a true story of 100% adjustable rate mortgages. They can be dangerous.
Hi Gary- I know some great loan officer's! I am so thankful to know many of the good one's!
Hi Mona- We just have to trust the one's that we know are honest! I always say "If in doubt give the good one's a shout!"
It is a diverse mix of brokers out there... I agree with Gary above... The bad ones will not last for long.
www.GeorgiaHomeInsurance.com
Hi Eric, We have an in house lender too. I gave them a shot when I was a new agent and they charged an unbelievable amount of money to my client for a rate lock on a house that he ended up not buying. First and Last shot. Sad, but I have the ones I know will treat my clients with respect and honesty. I am so glad I know the good one's!
Thanks Ana. Good to know you know some good ones too.