I always advise my buyers to go to a FDIC recognized band.  Avoid Private Mortgage companies at all costs.  If you find one banker you work well with keep them.  I have used the same one on all of my deals and recomend him to every buyer I have.  His name is Rich Tompkins with Orion Bank.  305-289-5806.

Gary - I have more than one, but the list is quite small.

Thanks for the list. Some are obvious but its amazing how many buyers will not check their Lender's credentials more closely. Do you think that all Mortgage Lenders/Officers/Home Loan Consultant should be licensed?

Lloyd - Absolutely, they need to all be licensed and held top a high standard.

Randy-Isn't everyones name under Bankruptcies right now :) :)  I love the list (s) :)

All I've got to say is Dumde dum dum DUM!:)

Kathy - I hope not.  At least they aren't here.

Neal - :)

Although there is a little sarcasm in your list, it does ring true in many cases! Just because some calls themselves a loan officer doesn't make'em one...."go ahead on pump three!"

Randy, Don't you just love when people say never go to a mortgage company? I can give you stories of L/O from banks that have'nt seen the ball since kickoff.  I am not saying that this never happines with mortgage companies. We have good and bad in every side.

Randy, I think when looking for good people as loan officers or whomever, you really have to trust that "spidey sense" of yours often, and validate their credentials.

Gary Waters - You picked up on it.  All of them were based on folks I met in the industry.

Matthew - It may be different in your market, but in our's all of the fraud and most of the incompetence I run into is from the brokers side or from out of state lenders.  Our primary lenders generally have higher standards and only hire experienced professionals.

Gary Woltal - If you are new and don't now a good loan officer an experienced real estate agent is a good place to look for referrals.  The reverse is true also.

Randy- Great post.. LOL.. What is sad is that too many buyers have one of these guys.. usually a brother-in-law or cousin who is going to get them the best deal..

Kaye - Great point!  The absolute worst loans I have seen came from family and friends.

Great list - I just can't understand why we can't get the $100K at closing?

Now Have a Blessed Day,

John Occhi, Hemet REALTOR®
Mission Grove Realty

John - Unfortunately there are many in the industry that really think that is OK.

Randy.... I give 100k at all of my closings. Doesn't everyone?  And as much as your list is suppose to be lite, but with lots of truth, I will argue these two.

• Your real estate agent never heard of them or their company.
• They are unable to be at the signing because they live 7 states away.

One main reason is because 60% of my business is out of state. And they still close on time, no changes to fees or rates, and they are happy. It comes down to trust and basically just treating those the same way that you want to be treated.

But overall, I know what problems that you and many other realtors have gone through in the past. I just picked up a loan that another loan officer, locally, has dropped the ball on twice. Basically meaning that it can happen in your own backyard also.  anyhoo... happy holidays

Jeff - This is an area we will have to agree to disagree.  These buyers are about to sign the biggest check in most of their lives.  I want the loan officer at the table to explain what they are signing to them and to address concerns. I am there to address transaction concerns and expect no less from the loan officer.