seattle housesSeattle real estate is hopping -If you don't believe me, then listen to this one:

 I just got told by a Seattle mortgage broker that one of my closings in escrow might be delayed because the lender is backed up!  I will be on top of this one to see what I can do to help, but thought that it was interesting since the media is still saying our market is slow......

The rates are low and the lenders are busy - I know based on other things that I have read that WAMU is pretty busy!  I just had no idea that they were that busy - any Seattle mortgage brokers out there having the same experience? I thought maybe the appraisal had been ordered late, but checked my NWMLS key box and the appraiser had been in there promptly!

Courtney Cooper ....For all your Seattle Washington Real Estate Needs! Seattle Area Real Estate Agent: Broker and Realtor serving North King & South Snohomish County.  Seattle Real Estate and Seattle Suburbs!  Cooper Jacobs Real Estate Services:   Experienced REALTOR with a background in accounting - I love my clients and work hard for them! Please call me if you are looking for a home or investment property (including short sales, preforeclosures, foreclosures, and REO properties) in Seattle (Ballard, Crown Hill, Phinney, Ravenna, Maple Leaf, Greenlake, Greenwood, Northgate, Lake City,University, Sand Point, Laurelhurst, Windermere, Fremont, Wallingford, Queen Anne, Westlake, Eastlake, Lake Union, Downtown, Madison Park), Shoreline, Edmonds, Brier, Lynnwood, Mountlake Terrace, Lake Forest Park, Bothell, Mill Creek, Everett, or other Seattle Suburbs!

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Cooper JacobsThis Seattle Real Estate blog written by:  

Courtney Cooper, Seattle Realtor, EcoBroker, Designated Broker for Cooper Jacobs Real Estate Services

@CourtneyCooper  206-251-5948  courtney@cooperjacobs.com

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6 Comments on Seattle Real Estate: Lenders busy out there?

FEB
13
2008
213,094 Points 39 Featured Posts Outside Blog
WaMu is busy because they trimmed back so much and eliminated so many positions not necessarily because they are doing more loans. They have closed most or all of their stand alone and satellite branches here in Atlanta and well over half of the remaining ones nationwide. We're still not doing many purchases here which is amazing because we have historically done over 70% purchases. BUT we have certainly pre-approved a lot of people lately which is usually about 60 to 90 days ahead of them actually closing so I'm looking for a growing year with numbers doubling by mid-summer.
7:10pm • #1
243,897 Points 9 Featured Posts Localism Sponsor Outside Blog Hit Router
Hi Ken - I agree with you nationally in regards to WAMU, but locally they are still doing a lot of loans...  I do know they have trimmed back here as well, but I think local Seattle might be a little different.
7:16pm • #2
250,705 Points 3 Featured Posts Outside Blog

Courtney,

That's the music we would like to hear down here in Vegas, too, but things are still rather slow. Good to hear that your market is buzzing and the mortgage people are busy.

7:25pm • #3
FEB
14
2008
9 Featured Posts Localism Sponsor
I asked a mortgage rep to plan a class on VA loans with me last week, a class we have taught many times. She can't do it because she "swamped". I love Washington!  Real estate is hot!
1:37am • #4
FEB
16
2008
877,125 Points 68 Featured Posts Outside Blog

We are having the same thing happen down here in Oregon. I had one that was being delayed because we had 8 other docs ahead of us on the day of closing, then when docs went out we were delayed at the title company because they didn't have any time available that day. I would say things are picking up!

12:24pm • #5
FEB
18
2008
3 Featured Posts

Loan Originators in Washington State are busier because there are fewer of us due to licensing (if you work for a mortgage broker) or lay offs, if you work for a bank.  

When rates dipped down, many of us have experienced additional refi transactions in our pipeline.  If I were a real estate agent, I would want to make sure I'm working with a Mortgage Professional who either knows how to prioritize their business.

2:41pm • #6

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