What Home Buyers Think of Loan Officers
Good show Guys but a little error on the “History Lesson”. Independence Hall is in Philly not Boston. That’s the Old State House.
Here is an issue I have had with some clients, and maybe I need to change this. Give me your thoughts. I do a very thorough pre-qual and ask numerous questions upfront because no one likes surprises half way through the process. If there are any odd scenarios I’m straight forward in telling the client what “could” happen based on their scenario, and put together a plan to be ready for this. A few clients who were shopping have remarked that “their bank” wasn’t asking for “x” and I kindly reply that they will eventually, and I end up losing that client, this has happened twice recently. Come to find out, BOTH times the items I were requesting upfront did in fact end up being requested by the client’s bank as well…by that time they were half way through the loan process and too late to switch back… I feel like I’m damned if I do and damned if I dont….
Maybe a better approach would be to ask them, would they rather know now or be surprised later? And as they are interviewing loan officers, who would be more prepared a loan officer that addresses it upfront, or one who forgets to address it upfront, and then creates undue stress on the borrower, during the purchase price, and at the last minute? I am with you, and handle it the same way you do.
For the homebuyer, the quality and experience of the loan officer doesn’t matter until they experience a real problem and then it does matter. But by then, it may be too late.
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