This is how Mortgage works.... (loan, rate, loan, reduce)

[Pfhtex]

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.

[christiner81]

that chip on your shoulder must be quite heavy

[Jkgourmet]

Originally Posted by Pfhtex

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.

[Modification Specialist]

Originally Posted by Pfhtex

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!!!



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