It is said that "a grand jury will indict a ham sandwich." According to this adage, grand jurors blindly indict everyone and everything. A grand jury will routinely issue an indictment on cursory evidence, rather than examine the case more carefully. By issuing the indictment the grand jury is procedurally moving the case forward to be decided later, at trial. Their role is to quickly pass the baton, instead of looking carefully at the evidence to make their decision, and they feel proud that they have done their civic duty.
While this method may work (for better or worse) in the penal system, this is not the way to conduct real estate transactions. Nevertheless, every day worthless "ham sandwich pre approvals" are exactly what most real estate professionals and clients rely on before spending the time to show a home to a purchaser, or even to make and accept offers. These baloney pre approvals are issued by a mortgage salesperson, to attempt to satisfy the immediate needs of a potential purchaser. They are, by necessity, an accommodation only, rather than a real decision about whether the loan can actually be made.
Why? Because a salesperson does not have the power nor the authority to approve a loan;
only an Underwriter can approve a loan.
A few years ago sales pre approvals were acceptable; three were so many loan programs available nearly everyone was approved, ultimately. But we all know that mortgage loans do not come easy anymore. Approval guidelines are strict, and they change, sometimes in very small, but critical ways, every single day. A loan salesperson cannot be expected to sell loans AND have the knowledge than an Underwriter has. It is not part of the job description.
There is a better way to do business. Before you take a purchaser out to see a house, before you submit or accept an offer, be sure you have a Real Loan Approval from an Underwriter!
Use RealLoanApprovals.com's proprietary 24 Hour Online Underwriting Approval Technology to conquer the ham sandwich dilemna. Underwrite the loan first and get a Real decision!
By indicting everyone a grand jury avoids doing the work involved in making an actual decision. Nearly everyone gets through. They put off until later (the trial) what they don't want to be responsible to do now. Our Technology changes the process for real estate transactions - we do all the work up front directly with the Underwriter.
Send your clients to www.RealLoanApprovals.com and within 24 hours a Real Loan Approval will be issued by an Underwriter. Alternatively, the loan will be declined by the Underwriter, and you will avoid wasting precious time on a deal that will never close. Either way, you win (but remember to hold the mayo).
Real Loan Approvals from Underwriting
www.RealPartner.com and www.RealLoanApprovals.com : The Better Way to Transact Real Estate.
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