Do you ever miss the good ole days when you looked forward to spring. Because daylight savings meant an extra hour of daylight to play baseball or other games. Ever miss those high school days when you were not sure if the girl would go out with you...or for you women, the boy would ask you out? Ever miss when you had it so good and yet you did not appreciate it?
As I continue to try to survive against the big giants in this game, I think about these things and wonder, will the small individual mortgage banker like myself be missed when the big banks have drove us all out of the business? Will the Real Estate Community miss us?
The big institutions have been and are putting the squeeze more and more on people like me. Yet, I offer what they dont. That is personal service. I offer truth in advertising and honesty. I treat clients like they should be treated, not like a number.
The more I stay in the business, the more it amazes me that Realtors who claim to be doing their fiduciary responsiblity continue to turn their heads away while these banks over promise and under deliver to their clients.
What is life going to be like when we are all gone? Your client will call an 800#. Then they will have some minimum wage clerk take the loan application and email them their docs. Maybe send them Fedex. They will be told one thing and get another. They will not talk to the same representative when they call in. You won't be informed during the process. And, then they will close...three days late. They dont care because where else are you going to go? Think about rates too. Once they drive competition out of the business...we can expect rates to sky rocket. This might take a few more years IF you dont stop using the major banks and start using a mortgage banker near you.
If things continue, mortgage bankers like myself will be out of the business and you will HAVE to deal with a lender who controls the market price, controls the turn times, controls who gets a home and who doesnt.
You may very well be looking back saying remember the good ole days...when people could get a loan for a home? Remember when Loan Officers would come to our office and take the loan application? Remember when Loan Officers would work nights & weekends?
Don't wait until it is too late...use an independent Mortgage Banker on your next deal. I just bet your experience will be a lot better.
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