Mortgage Lenders ~ where are you for closing?

By
Mortgage and Lending with Draper and Kramer NMLS# 189006

Does your mortgage lender attend your closing?

As I walk into the title company and ask for directions to the room the closing is happening in, I am usually asked if I am the agent or the attorney.  No, I am from the mortgage company.

As everyone arrives, I introduce myself, Kim Murphy, 1st Advantage Mortgage ~hand shake nice to meet you! 

The response from the sellers attorney and the sellers agent is almost always, from the mortgage company?

"We don't see that very often"

I greet my buyers with a big smile and get a bigger smile in return!  They know they are going to be ok! 

No one sitting at the closing table should ever be surprised when a mortgage lender arrives!  I am there 95% of the time, the other 5% I cant make it, I can be reached by phone!

I am there to support my buyers, to handle last minute questions for either side, to show that I am true to my word.  I will not hide my face in shame, I will hold my head high, because I know what I told my buyers the day I met them, is what they will get the day they sign the papers to the new home!

Expect your mortgage lender to be available the day you make the biggest investment of your life!

Comments (38)

Kim Murphy
Draper and Kramer - Lombard, IL
Mortgage Loans in DuPage, Kane, Cook, Lake, Will C

Shane...  Good to see another LO that attends!

Susie...  Nothing EVER goes wrong, I'm just there to say "Hey!"  But just in case, I'm there!

Paul...  Typically we send a check with the package...so we usually don't have to wait for funds, Thank goodness!  Glad to see your on the same page! 

Doug... They look at you like your crazy! Attendance is important!

 

Jul 03, 2007 06:22 AM
Kim Murphy
Draper and Kramer - Lombard, IL
Mortgage Loans in DuPage, Kane, Cook, Lake, Will C

Kate... I agree more will do it because its slower, and then drop off again when it gets busier!

Michael... Now that is impressive! 

Scott...  Sounds like you learned the right way from fielding those calls!

Angela... Strangehow its different in different areas!

TLW... LOL!  Most sellers here will pre sign, so we don't usually have both parties at the table at once either, but the sellers attrny, buyers attrny, Realtors and me...:o)

Jul 03, 2007 06:27 AM
Kim Murphy
Draper and Kramer - Lombard, IL
Mortgage Loans in DuPage, Kane, Cook, Lake, Will C
Bruce...I do some of my refi closings, but not as much as I use to, the title companies like to control that!  I know some LO's here cant even tell you some of the docs in the closing package....  But the attorneys and title companies take control of all purchase closings in IL.
Jul 03, 2007 06:29 AM
Jay Beckingham
Christensen Financial Mortgage - Port St Lucie, FL
Seniors ROCK!

one of our company's policies is to do a pre closing interview. we are to have the note, mortgage, and hud.

i  agree with you wholeheartedly (is that a word?) that we should attend the closing.

the client(s) loves it.

one of the nicest comments that i hear is when a title agent or realtor asks the buyers a question or asks if they understand an issue and the buyers response is;

"we discussed that with jay before the closing, we understand."

my response is usually to just smile. it's a very natural response. 

Jul 03, 2007 06:32 AM
Tom Burris
NMLS# 335055 - Baton Rouge, LA
Texas/Louisiana Mortgage Pro - 13 YRS Experience

I go to as many closings as I can. Will even drive across Dallas to do so.... it is important.

And I get the same stuff.... "you're the lender?"

LOL

Jul 03, 2007 06:34 AM
Kim Murphy
Draper and Kramer - Lombard, IL
Mortgage Loans in DuPage, Kane, Cook, Lake, Will C
Tom... I guess I just wonder why NOT!  It not only shows you are there to support the client, but you could potentially pick up business from the other realtor and/or attys for a job well done!
Jul 03, 2007 06:35 AM
Marc Blasi
Palm Beach Gardens, FL

Hi Kim-

It's my company's policy to be there at closing - there is no excuse for not going.

What really kills me is when one of the Realtors doesn't show up!  Just ridiculous. 

 

Jul 03, 2007 07:32 AM
Kim Murphy
Draper and Kramer - Lombard, IL
Mortgage Loans in DuPage, Kane, Cook, Lake, Will C
Marc...I think that is a GREAT policy to have!  I agree the Realtors should be there as well.
Jul 03, 2007 07:55 AM
Tom Burris
NMLS# 335055 - Baton Rouge, LA
Texas/Louisiana Mortgage Pro - 13 YRS Experience

Kim,

I did pick up a realtor that way. Recently.

She was so worried about the 100% financing.... then when I showed up at the ON-TIME closing... she asked for a bunch of business cards.

I have been surprised at the number of realtors that DONT GO!!!!!!!!!

Jul 03, 2007 09:30 AM
Rick and Lynn Orze
RE/MAX All Pro - Carol Stream, IL
Carol Stream, IL RE/MAX All Pro
Our loan officer almost always attends our closings!! Oh ya....that's right....YOU ARE OUR MORTGAGE LENDER!!! With Kim on our side doing the loan we have NO WORRIES!!! She delivers and with a smile!!! You are the best Kim!!!
Jul 03, 2007 11:04 AM
Kim Murphy
Draper and Kramer - Lombard, IL
Mortgage Loans in DuPage, Kane, Cook, Lake, Will C

Tom...  you never know when a Realtor is unhappy with their current lender, and when you shine its bright!

Rick and Lynn... Your the best!  Not only do we attend the closings together, but Rick and Lynn promote me to the other Realtors and attorneys!  They are the best!

Jul 03, 2007 12:35 PM
Marie Wright
Florida Energy and Air Services - Clearwater, FL
YES, YES and Yes Kim, I attend my closings.  I find it helps me get referrals from my clients as they are happy I am there to assist with the paperwork.  Plus I have gotten referrals from the sellers realtor and created relationships I didn't have before.  I have even gone one step further when dealing with first time home buyers that are skittish or having buyers remorse and I have called the closer at the title company and given them a heads up as to the situation so that everyone is sensitive to the situation.
Jul 03, 2007 01:43 PM
Kim Murphy
Draper and Kramer - Lombard, IL
Mortgage Loans in DuPage, Kane, Cook, Lake, Will C
Marie... Sounds like you do a fantastic job before and at the closings!  Keep it up!
Jul 03, 2007 01:47 PM
Cait ODonnell Donohue
Red Key Realty Leaders - Frontenac, MO
I am amazed when the lender doesn't attend closings. The mortgage people I recommend to my clients ALL attend closing. When I run across a lender that doesn't attend a closing I think ...what a wasted opportunity! They could have come and met some agents that could refer them business.
Jul 04, 2007 02:13 PM
Kim Murphy
Draper and Kramer - Lombard, IL
Mortgage Loans in DuPage, Kane, Cook, Lake, Will C
Cait...  You are absolutley right, a very good missed opportunity!  Enjoy your holiday!
Jul 04, 2007 04:35 PM
Dominick Gaccino
Dominick gaccino - Peekskill, NY

mortgage person should attend

 

if any questions pop up you need to be there to smooth them out or you may have a dead deal

 

the only ones i havent attended was when i was on vacation when closings were happening

Jul 05, 2007 12:53 AM
Angela Harrington
PCM Mortgage Solutions - Swartz Creek, MI
Loan Officer Mid- Michigan

Exactly It's all about getting out there and networking.  Putting your clients at ease.  It's great when all you have to do is sit there and shine :)  

Jul 05, 2007 12:57 AM
Lizette Fitzpatrick
Lizette Realty - Richmond KY - Lexington, KY
Lizette Realty, Lexington KY MLS - Kentucky Homes
Kim, I am always amazed that most lenders don't show up at closing or stay invisible to the selling agent. One of my favorite lenders always is at the closing. Love it!
Jul 05, 2007 01:29 AM
Chuck Dellorto
Coldwell Banker - Serving INDIANA & ILLINOIS - Highland, IN
"Talk To Chuck"

Kim,

Thanks for the post. Maybe it will motivate some of the LO to follow through with the entire process. I do appreciate when LO attend the closing. It is very useful for any questions or problems that come up and it is very personable. Thanks.

p.s. --- maybe we can meet sometime in mid-July? Let me know when you will be around the south or southwest suburbs or I can come out by you.

Jul 05, 2007 07:14 PM
J.R. Quarles
Mortgage Executives LLC - Memphis, TN
The Mortgage Innovator
great post.... I'd couldn't agree with you more... I attend all purchase closings and about 90 percent refinances...
Jul 06, 2007 02:48 AM