One of the memorable mortgage transactions that I had the opportunity to shepherd was not just for any customer, but a friend. And not just any friend, but a fraternity brother. "Brother in need" is a common term we use in our fraternity, Phi Sigma Kappa and this situation certainly fit the bill.
The transaction was somewhat unique in that the timeframe to execute the mortgage process was 15 business days. It also involved a relocation as my friend and his wife was moving to Florida from the Northeast. The pressure was on.
The situation was additionally challenged by the fact that the relocation was due to a new job. The purchase property was about three hours away from my office so we had to handle everything electronically. Although I am 100% comfortable with all things digital, I had never done a mortgage 100% remotely without ever seeing the client in person.
Fortunately, my friend was also very comfortable doing it all electronically. Email and blue pens were our best friend. I quickly learned that to save time, I needed to be thorough and accurate with all the documents and to keep everything very organized. Not that I wouldn't do that on any other file, but this one required double and triple checking. I also learned that when you have a highly motivated and responsive client that you can get things done a lot faster. The mortgage and real estate transaction closed on time with a day to spare.
I love this transaction because it was a success but also because this was no slam dunk deal. There were several challenges that had to be overcome but we did it. My friend understood the extenuating circumstances under which I was placed and I know he and his wife appreciate what I did to make it happen.
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