I have a question. Do you feel loyal to one loan officer?
As you may know by now, I thrive on getting the opinion of others. I like hearing thee thoughts and opinions of other real estate professionals. So, my question to Active Rain is... Do you in fact feel obligated to using one loan officer, or do you feel like you are cheating when you shop them?
Now personally, I have two preferred loan officers which I like you use. A lender for those with good credit, and a lender for those with sub prime credit. When I speak to my buyers about getting them pre-qualified, I tend to nonchalantly ask how their credit is so I can direct them to the correct officer.
The other day I had a situation where I had a new buyer who thought she had good credit. She was going through a lifestyle change, and she was looking to get into a new home. I let her know we could certainly help her, and had my officer call her. My loan officer called me back an hour later and let me know her credit was in need of repair and she was going to have to wait a while.
I was caught off guard, had I known her credit was not so hot, I would have directed her to my sub prime lender right off the bat. I felt a bit disloyal when I had wasted my officer's time only to send her to the sub prime lender because of her issues.
My sub prime lender is great, she will walk anyone through the process to repair your credit where it needs to be to get in a home. Should I feel guilty, or is this okay?
As a lender would you feel cheated, or just understand this is part of the business?
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