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We prefer the personal service offered by mortgage brokers with whom we have a sucessful track record of ecxceptional service.Big banks treat clients like the account numbers that they are.
Jill Murty, Realtor - ...
Laguna Niguel, CA
Richard Woodward NMLS...
In my case it isn't about who the lender is, it is the loan officer. He works at Wells Fargo, and gets the job done each time and with excellent communication. He also gives me leads.
I'm not a huge fan of the big banks. There are too many layers to get through and they often don't seem to move too quickly.
Richard Woodward NMLS...
Local lender only please.
Florida has many financing nuances that out of town lenders have no clue about.
Local lender is always the best choice Richard Woodward NMLS#217454 .
I don't like working with big banks. They don't have the fexability.
Local really makes a difference here on Kauai. We have some unusual holidays not on the mainland lenders' calendar and our closing process usually adds a couple of days. Non-local lenders make for more work and usually problems in escrow.
I work mostly with local brokers, they are more competitive and much easier to reach ( try to reach a BofA person during weekend or after 5pm!).
I prefer a local mortgage broker who will find the best rate and product for my clients.
I prefer local mortgage brokers who are well known. They have reputations to protect!
Better communications and proactive service comes from Wells Fargo, then three days before closing, everything changes.
Local lenders will work plan B and will close on time. However, I need to understand throwing tantrums because I need instant gratification does not work well in this local arrangement, so we cut each other some slack because we know in the end. there IS a solution, unlike the big bank situation.
Lenders that I recommend, those with a proven track record.
I don't so much care the size of the lending institution but working with a loan local loan officer is far superior to working with an out of state lender the buyer found on line. The local loan officer definitely wants the principles & agents involved to be happy as there's a lot more than one transaction involved. This of course doesnot guarantee that an extension won't be required but one does have the best potential for that loan officer to do everything possible to close on time.
Whoever can deliver on time
We don't care who they work with and we have no communication with the lender. Thats why God invented Title Companies.
local lender - although I have relationships with the big box lenders too so I can give my buyers their names
Richard - I believe the actual loan officer is the most critical, and not whether they work with a big national bank or are a local lender. It is the person that you work with that will determine how much they communicate with you, and whether they really know what they are doing or not.
Depends, some of my investors are using a Wells Fargo broker in Los Angeles and he does a fantastic job. Outside of him we go local and smaller.
I prefer clients to work with loan officers with whom I have a regular working relationship. I know they will deliver the needed service. Those loan officers are available with both national and regional mortgage lenders.
Local lenders seem to be more responsive and timely. But I have good people at some of the large banks who work hard for my clients, as well.
Hi Richard - it's always the buyer's choice and communication skills depends on the individual lender regardless of location and/or size.