U.S. CitiesCity-Data Forum Index
Happy Easter!
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 10-13-2013, 02:39 PM
 
3,323 posts, read 7,271,657 times
Reputation: 4106

Advertisements

1. The borrowers who have it the easiest, and get the best terms, are the most difficult crybabies imaginable.

2. The kind, prompt, deserving, nice, wonderful borrowers, for some inexplicable reason, get put through the wringer.

This is fact. So if you find yourself bitching and moaning about your mortgage process, refer to the above.
Reply With Quote Quick reply to this message

 
Old 10-13-2013, 03:32 PM
 
Location: Portlandish, OR
899 posts, read 1,450,859 times
Reputation: 928
that chip on your shoulder must be quite heavy
Reply With Quote Quick reply to this message
 
Old 10-13-2013, 03:34 PM
 
Location: Phoenix, AZ > Raleigh, NC
14,339 posts, read 17,561,906 times
Reputation: 22201
Quote:
Originally Posted by Pfhtex View Post
1. The borrowers who have it the easiest, and get the best terms, are the most difficult crybabies imaginable.

2. The kind, prompt, deserving, nice, wonderful borrowers, for some inexplicable reason, get put through the wringer.

This is fact. So if you find yourself bitching and moaning about your mortgage process, refer to the above.
I've been a buyer who is kind, prompt, deserving, nice and wonderful and never been put through the wringer. I'm borrowing money - lots of money - from somebody. I expect to be scrutinized. That's just realistic.

HOWEVER, I took responsibility for educating myself about the process and my options before I started the paperwork. I knew what to expect, and knew approximately what I would qualify for and I knew what I could afford (which is not the same as what I could qualify for). Maybe more people should consider that before they start looking at houses.
Reply With Quote Quick reply to this message
 
Old 10-14-2013, 01:00 PM
 
Location: New York
2,251 posts, read 4,168,870 times
Reputation: 1607
Quote:
Originally Posted by Pfhtex View Post
1. The borrowers who have it the easiest, and get the best terms, are the most difficult crybabies imaginable.

2. The kind, prompt, deserving, nice, wonderful borrowers, for some inexplicable reason, get put through the wringer.

This is fact. So if you find yourself bitching and moaning about your mortgage process, refer to the above.

One of those "Closings-from-Hell".?????.... I can empathize.....

The worst closing I ever had took over eight hours; man 60+, with a magnifying class, read every word on each page of the closing package. (8"x14" 50+ legal pages) - he'd read a paragraph and stop asking what does that mean? To top it off - he then compared each of the three copies.....

When I was a LO started doing this method, the time for closings went down to 15/30 minutes. Plus my referral rate went up. No longer write loan's, still get calls from my former clients.

When originating the 1003, note "borrowers will not close unless a set of closing documents are forwarded before closing". Then the day of closing. Be on the title company's case to email you the doc package, they are forwarding to the closer/attorney.

Before the closing - forward doc package to borrower and get on the phone briefly go over the numbers. Briefly go over the HUD statement and loan note package. That way the time is reduced because they are not asking as many questions. (Be sure) after closing follow up answering any questions, plus giving your professional opinion the way everything worked out.

LO's can put all the max effort and work to keep the loan organized. We don't deserve all the B/S that comes with our profession, but that is the nature of our industry. .....lol!!!



.

Last edited by Modification Specialist; 10-14-2013 at 01:26 PM..
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top