Realtor refuses a loan...... huh??

It's back to the basics for me the past few months. I am out calling on agents again and I am lovin it. You see, times have changed. The very same agents who wouldn't give me the time of day in the past now inviting me to have a seat and chat. And that is just what I am doing. You see, I am finding out the agents with staying power, the ones that are "lifers", appear to be like a sponge just longing to learn about the products available in today's market and truly understand the mortgage lending business. This is a wonderful thing for me because these agents will always be on the same page as me and it will ensure we work together instead of against each other. 

I called on a particular office today and met with an agent who seemed like a seasoned vet. I asked how business was and he seemed a bit bitter, which is totally understandable.... I suppose.....  I went on to tell him my mortgage shop was actually having a really good month and purchase business was heating up. Then I asked him if he understood the USDA loans. He quickly told me he doesn't do those bad loans. He said they were the loans that got us into this mess.....  

Hmmmmm... ok.......         

I tried another approach. I asked if he did Veterans loans. He told me he would not put a client in a car if they didn't have any money to put down. He said that is what caused this whole mortgage mess. 

I suppose in some convoluted way I guess he had a point. But explain this - If I can take someone who is renting and turn them into a homeowner with no money out of their pocket AND a monthly payment the same as rent - well, to me that is a BENEFIT to the borrower. Sure the whacky 100% No Doc loans went way overboard, but those traditional 100%'ers have been around forever. 

I am interested to see everyones comments on this topic.......

                            Maryland Mortgage Expert