Good loan officers always put their customers in front of the bottom line. This is accomplished by providing a high level of customer service, quoting competitive rates and fees.

This a partial list of what your loan officer must do to be competent.

1) Returns phones calls - most are pretty busy, but they should respond within half a day.

2) Answers your questions – must be willing to teach, so you will be informed. 

3) Tells you the news you need to hear, can tell you bad news.

4) Ask for your information on the first call. Why? a good loan officer asks for specific information, to make sure the loan they quote matches your needs. This way you don't end up with a different loan at the closing.

5) Doesn't change fees at closing - if there is a change in the fees or rate, they must send out a new good faith estimate, truth in lending document and loan application.

6) Offers to send you a good faith estimate. So you can compare the costs associated with your loan.  

7) Gives you copies of the HUD Guide ( Settlement Costs and helpful information) and consumer handbook on Adjustable Rate mortgages.

8) Tells you the difference between a pre-qualification and pre-approval - a pre-approval is more desireable. The extra effort could save you earnest money.

9) Protects you from fraudulent transactions. It's better to pay a little bit more on a loan, than risk fraud charges.

10) Checks to see if you are happy at or after the close. Now you know if they are in it for the long haul.