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INTERNET VOLUME LENDERS - Are They Beginning to Bug You?
I am mad tonight!  Hopping Mad!  Really!
Even today, Lenders working only on the Internet promise to save homebuyers fistfuls of money!  And easy approval!  Timely closings!
Likely, Homebuyers and Real Estate Practitioners - if you see claims like that - RUN FAST!  VERY FAST!
Several this year have come from a VA-Specialized Lender based in MO.  A volume company.  Fast, easy, they say!
But they don't deliver!
I closed a loan through them on referral this year.  They must have liked my Real Estate Broker Services, and the firm referred me half-a-dozen referrals since.  And, for these referrals, I am most grateful!
But, the service?  SUB-PAR!
Only two out of the six transactions closed on time.  Even those that were timely involved hours-long closing delays at the table.
The others had lengthy underwriting approval delays.  And not just because of today's far more stringent underwriting standards!  Many involved basic sloppiness in advance of the loan being submitted to the underwriting department.  Incomplete packages.  Uncompleted basic forms.
And a lot of excuses from our Loan Originator contacts!
One Loan Originator muffed a basic pre-approval - qualifiying one of our buyer clients - a Registered Nurse - for $100,000 more than she actually ... more

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