Where is the LOVE?

By
Mortgage and Lending NMLS #94045

Notice a certain --ah--absence of mortgage professionals worth their salt in your town? Notice that some of your clients may be having a hard time getting financing? Has sending your clients to your bank instead of supporting independent mortgage brokers backfired?

We got the message: Loan Officers and Mortgage Companies have been getting out of the business in droves. For several reasons. 1. New federal and state licensing regulations discouraged folks who weren't up for new learning and fees. Fine, we only want committed professionals in our business....a good thing!  2. New HUD and Lender guidelines limited the companies who could qualify to sell them loans. The  smart viable companies have met these changes...also good! 3. Refinancing is becoming less attractive as rates start to climb so our market is tightening. 4. People who want to make a decent living with community respect may have gone to work somewhere where they get paid to show up 9 to 5.

Where is the Love? http://www.youtube.com/watch?v=ZcHPNUN-U8E

"If you had had a sudden change of heart .,..I wish you would tell me so. Don't leave me hanging on the promises. You've got to let me know!!"

What you want, HUH? http://www.youtube.com/watch?v=-o1Bg7yBxQo&feature=related

"All I'm asking is a little respect. R.E.S.P.E.C.T Just a little bit. Just a little bit." Sing it LOUD!

Celebrate those still working hard for YOUR clients. That's all we ask.

 

 

Posted by

 

 

SUSAN TEMPLETON IS A LICENSED LOAN ADVISER IN WASHINGTON

NMLS# 94045

                 

 

Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. Loannetter is a private brand owned and copyrighted by Susan Templeton.

 

 © 2005-2015 susan templeton copyright

 

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Rainer
57,950
Mark Nehs
Mortgage Loan Officer Waukesha Wisconsin - Pewaukee, WI

Susan,

So true.  Funny the way you put that with community respect.  It is true, we can be seen as the crooks and some were and thankfully 90-95% (my guess) of them are gone already.

Great post.

Feb 16, 2011 08:15 AM #1
Rainmaker
66,965
Susan Templeton
Bellingham, WA

Hey Mark, Glad you agree: We have our ways of handling the challenges before us today. Music does it for me!

Feb 16, 2011 09:32 AM #2
Anonymous
Saundra

I think you hit the nail on the head with this.  As a former mortgage professional (hoping to transition to a more stable career), I got tired of the loan shark mentality of some of my co-workers, the blame game of the lenders and the feds and some of the absurd new laws and regulations.  The latest round that says we have to charge the same fee to all customers is ridiculous and punishes those with good credit and rewards those with crap credit.  I used to base my fee on the complexity of the loans, as most people do or used to do.  But here is another of those laws that is supposed to be for the benefit of the consumer.  Really???

Feb 16, 2011 11:32 AM #3
Rainmaker
66,965
Susan Templeton
Bellingham, WA

Hi Saundra, Thanks for the addendum to the story from someone who stands by their values. Too bad the new rules don't help us keep good people like you on the job. And yes, I'm also concerned some loans will be denied because the 'fixed fee' won't pay originators enough to do the  job properly. Congress is hearing arguments before the April 1 deadline to enact Frank-Dodd Financial Services Bill.  

All the best in your search for a stable career!

Feb 16, 2011 02:58 PM #4
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Rainmaker
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Susan Templeton

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