Do You Have A Lender?

Mortgage and Lending with Producing Branch Manager at Cardinal Financial Company. NMLS#469258

Do you have a lender? Is that the question that Realtors/Builders are asking when they have a prospective client? If not then you had better stop what you are doing and read. In today's lending environment that question is one of the most important questions you have to ask when you are talking to a potential borrower. Just when you thought that everything was getting back to normal and pre-qualifications were enough to satisfy........THINK AGAIN. Today you need to making sure your buyers are PRE-APPROVED, not PRE-QUALIFIED, there is a huge difference between the two. A loan originator can type up a pre-qualification letter and really have no clue if they are actually ready to buy. They need to be collecting all income documents and anything else that could cause a problem gaining approval. I have been seeing this more and more frequently, an agent or builder calls me and says they have a problem. I cannot believe that this is still going on and that Realtors/Builders are still referring business to originators that do not take the extra time to do a pre-approval. I understand that you may have a relationship with a loan originator, but how many times do you give them a pass if they are dropping the ball? The process is a team effort and everyone has to perform to get the job done. Remember, our job starts when the loan closes! We are all making our business on referrals and word of mouth, the client experience has to be great or we are putting our livelihoods at risk! It is time to get back to the basics and get the job done. (see below for one of our great videos)



Thank you,

Patrick Chicklinski

Comments (1)

Winston Heverly
Winston Realty, Inc. - Atlantis, FL

Patrick, a nice read today, sharing an insight that all of us can appriciate.

Aug 13, 2014 02:05 PM