Is it really that important?

Mortgage and Lending with FHA EXPERTS - Baltimore's #1 Mortgage Lender-FHA-VA-203K-


Is that really best for the client?


It is understood that loan officers, realtors and everyone else that benefits when a loan closes wants to see the fruits of their work in the form of a paycheck. But at what expense are people willing to risk making that almighty dollar.

Lending guidelines have tightened like a snake in recent years, in fact, it seems as if guidelines get tighter and tighter every week. Speaking of guidelines let’s get one thing straight right now – the mortgage lenders that follow the guidelines are still in business. Shocker huh?

We all want to finish with the end result of a funded loan transaction but we must keep in mind that many guidelines were put in place to protect to consumer. And now more than ever we need to put the consumer first.


Don’t worry – I will find a way around that guideline…


The demise of the mortgage and real estate market had a lot to do with the fact there really were never much guidelines when it came to mortgage lending. And the guidelines in place were extremely relaxed. An “exception” was a common request.

Fast forward to 2010 ---- The guidelines are set in stone. Period! In fact, all mortgage lenders have the same guidelines. Fannie, Freddie, FHA, VA, USDA whoever, they are the ones that set the guidelines. And every loan package that gets delivered to these agencies is subject to review with a fine tooth comb. So what you say?


They were a good borrower at the time…


Is it possible that an underwriter misses finding a document or simply overlooks a potential issue? Probably not in today’s world of forensic loan audits. Understanding the enormous amount of fraudulent loans that went thru our system in recent years, every loan, performing or not, is subject to a forensic loan audit.

So that little rule a loan officer bent, the item an appraiser signed off on that wasn’t quite 100% complete, the small little cloud on the title that will be handled asap and never was, all these items can shut down a mortgage company. And it has nothing to do with how the borrower pays their mortgage on time. The Federal Government is shutting down mortgage shops by the handful and finding major loan decision making flaws.


The guidelines are here for a reason people…


Underwriting and appraisal guidelines are put in place by their respective agencies for two simple reasons.

1) – To be certain the borrower can prove the ability to repay the loan. 
2) – To PROTECT the borrower

Guidelines were created with the borrower in mind. Nobody wants to set a borrower up to fail and have the loan foreclose. Nobody these days, not the banks, not the Federal Government, not me or you and especially not the borrower want an overlook to wind up being a downfall. If if a loan should go bad, we are all accountable.

I built my company supplying high quality information and delivering nothing but the facts. I can not do business any other way. If you have a mortgage related question, give us a call or visit the .

We look forward to hearing from you soon.

Will Steneman - President & Founder 
Happy Mortgage 



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