Did you ever wonder why you are having problems with a deal 30 days into it? It may have to do with your preliminary work. I recently was working on a loan when my processor called and had a lot of questions. Too many as a matter of fact.
I went back to my original application and realized that I had run through it very quickly and had not taken the time to answer all of the questions that I should have answered. The processor had no way of knowing all of the answers. She had never met the borrower. I had.
Solution. I called the borrower, apologized and admitted that I had rushed the application. I met him for lunch, reviewed the application and got the full story. I was then able to complete the process and get the complete information to the processor. Since I hadn't gotten the full story, there were too many holes in the application.
Take the time to get the details. The time you spend up front is the time you'll save...later.
Comments(10)