What Are The Lenders Doing???

By
Real Estate Agent with Rich Cotton The Waterfront Specialist EXiT Preferred Realty

Today's Real Estate market certainly is challenging for the Seller, Buyer and Real Estate agent. The lenders seem to be a major bottleneck in my local area. We had four closing scheduled for my office yesterday and only two closed. Why did two or 50% fail to close. Mortgage Brokers!!!!!!!! They didn't have this...they didn't have that! Why wait to less than 24 hrs before closing to check a file. Up until the last day everything was on track.....until.

The mortgage process has gotten a lot worse than it was before and not because of tighter guidelines. It is because of sloppy work. What does the mortgage industry have to gain by alienated everyone in the process? I have been in this business 20+ years and have seen the mortgage process go from ok to deplorable. Am I the only one experiencing this?

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Rich Cotton

Waterfront Specialist Cecil and Kent Counties MD
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