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is it just me or is this business getting insane
As I am sitting here today contemplating on whether or not I should write this, I find myself, after ten years of active involvement in this business, somewhat scratching my head. Is it just me or is it getting almost impossible to close a loan these days? I dont mean impossible from the standpoint of not having the business, I mean impossible from the standpoint of getting files thru underwriting, getting acceptable appraisals, ETC, it seems the days of submitting a full package and closing with out any hickups are gone!!! I ask myself why is that? Part of it has to do with the credit cruch that most lenders and banks have instituted since this whole subprime shakeout, but still a great deal of it has to do with Underwriters, getting hired with no experience, taking a two day class and then deciding wheter or not somone is deserving of a mortgage or not!!! I like to call this the crystal Ball Style of underwriting! The reason I call it that is because sometimes it feels to me like there sitting at there desks, with there eyes rolled back in there head, and there hands laid on a file to ... more
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