Once upon a time, in a very far off land (Dover, NH) there was a very young and enthusiastic Loan Officer (me) who was introducing the marketplace, made of of mostly Realtors, to what was referred to as secondary market loans. Back then Fannie Mae, and Freddie Mac were not the household words that they are today. The Realtors had been used to dealing almost exclusively with the local banks and had to adjust to the abundance of paperwork that the young loan officer requested. And ooooooooo the paperwork the underwriters wanted, and the questions they asked. They had to be kidding, right? But no they were not. You'd almost think that they were looking for a way to turn down the transaction. And you knew the deal wasn't done until it was done. The young Loan Officer would do his best to explain that the loan had to be salable in the secondary mortgage market. And

the rates were reeeeeeeeal good! Especially compared to the bank.

Fast Forward; 30 years later!

The young Loan Officer is not so young any more. He's got white hair and a white mustache, but he's still very enthusiastic, remarkable. After a prolonged period of foolishness, where many of the Realtors and Loan Officers did not survive, the real estate markets are finally, in most cases, in a period of recovery. It seems that once again the underwriters are requesting more paperwork and asking more questions. Many times it almost looks like they are trying to turn down the loans.

But those rates, they're reeeeeeeeal good!

Today, the not so young loan officer, offers his clients, the Realtors a word of advise.

No matter what you are told, all of our efforts are to get you to the closing table. Do not listen to anyone who tells you the transaction is a slam dunk, or a done deal until it is actually closed, because

It Ain't a Done Deal, Till it's a Done Deal!!!