WOW!! Changes come about sooo quickly.... Since Dec. 2006 over 100 mortgage companies have gone under, most of them in the subprime market. It now looks like the ripple affect is starting to take it's toll on the alt-A market. Just today, there was an article in the NYTimes detailing some issues that American Home Mortgage is currently dealing with, http://www.nytimes.com/reuters/business/reuters-mortgage.html
Companies are changing guidelines daily and it is up to you to keep abreast of them. Product knowledge will go a long way over the next few months in winning and keeping client's business, they are looking to us as advisors!! Now more than ever, it is extremely important to be as detailed and thorough as possible with all your clients... make sure they are aware of every step of the process and keep them in the loop as much as possible!! They will appreciate it in the long run and will handle issues that arise a little more readily, especially if they know what you are going through to get their loan closed!!
Comments(0)