I've finally had ENOUGH!!! I have been a mortgage broker for 7 years now. It's getting harder and harder to do business as a mortgage broker. I have to reply on 3rd party entities that are all 3rd parties (processing, underwriting, etc...) to get loans done now and it isn't working effectively. As a broker I have to rely on the lender that their turn times (turn times are business days for underwriting, condition signoff, docs, etc...) are what they actually say they are - and you guessed it, most of these lenders lie, lie, lie. Then they never call you back or respond to your emails when they blow their deadlines.
Today was the last straw! I got "jacked" around again by another lender trying to get answers why my loan I submitted hasn't been underwritten and of course I get the run-around. It was very convenient also for them to not have a manager present to speak with to assist me in expediting the issue. When I can't get the loan done ontime, because of mostly these issues it makes me look like the bad guy.
I'm actually making the change to a Mortgage Banker (direct lender) where processing, underwriting, conditions, docs, funding will all be in the same place! Underwriting turn times are currently 2 business days. I'm excitied to go to the next level as a mortgage banker!
Gerard Ladalardo, CMPS
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