Guys it just amazes me how these mortgage companies can promise you the moon but your LUCKY if you get a star.... I was suppose to close yesterday( Didn't close). Mortgage person stated that the file was still in underwritting. Suppose to close today. Guess what file still in underwritting. I hate when they do that because it puts me in a really bad position with the other agent and seller. If they would just say it's going to take to the end of the month that would save everyone the headache. So now once again another phone call has to be placed to the sellers agent to let them know the deal is not closing today. Does anyone else have this problem... Or is it just me!!!!!?????
805 County Real Estate - Camarillo, CA
Real Estate Agent - Camarillo CA
Are your buyers using their own lender?
I try to have my buyers use the lender who I have established a business alliance with. He is in a way my business partner so he keeps me well posted.
Apr 25, 2007 08:34 AM
Anonymous
Hello,
Speaking from the banker aspect as I am in fact a mortgage banker, unfortunately that loan officer overpromised and underdelivered on his/her expectations and it should be the other way around. I know many banker friends who still continue to do this just to "win business", however I personally do not agree with it. Or, maybe there are now some serious issues with the loan specifics, I don't know for certain, however I feel your pain. That stinks your commissions are now delayed due to a delayed closing, and now you may not have a client come back to you down the road and/or get the referral and it seems to be the blame of the banker. Hopefully you will not have to deal with that mortgage banker again and you can move on. If you want to work on building a mutually beneficial referral relationship with myself and my company, let me know and I'll mail you a welcome packet...
Jeffrey Pasieka 800.984.7764
Apr 25, 2007 08:47 AM
#2
David Doerr Mortgage Team @ Axia Home Loans - Spanish Fork, UT
14 Year Mortgage Professional
Honestly that bites! I am sure you are frustrated. I am sure that the broker isn't trying to make your life a headache, as you know, he gets paid when the transaction is done too. I always like it when the agent asks me when I can have the file done, and what my expectations are. I try my best to get things done, but as you know from the situation you are in right now, that relying on other people to get something done for you is frustrating.
My only suggestion is get into the other persons shoes, think about what they are going through and then react. Most lenders are swamped right now, with the number of lenders falling, the ones that are in business are getting more business so times are longer than normal, and can change quickly. One good thing to remember, if a lender is overly busy, they probably have good rates and your client is probably getting a good deal.
Thanks!
Apr 25, 2007 09:56 AM
Rainer
32,830
32,830
Michelle Way
ABR, GRI, WCR
Comments(3)