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2,188,589
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

An agent should be extremely educated in this part of the process. Our buyers and sellers always seem to see us as the one stop shop for questions. While I don't answer lender questions, I do like to have the information for myself. 

Jun 17, 2015 04:25 PM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

products... what kinds of loan products are available for all the different senerios that are out there.

Jun 17, 2015 03:13 PM
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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I prefer to refer questions about loans to a lender. This is not my field and I get nervous when I hear an agent spu falsehoods. To much liability!

Jun 17, 2015 09:47 AM
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I think it is good to know as much about the process as possible. Timelines, reason for kick outs, overlays to underwriting, etc. help an agent on the front end know what is going to happen. It helps keep us from wasting our time. Also knowing fees and what they are for makes us appear more knowledgeable to our clients. 

Jun 17, 2015 06:59 AM
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1,249,433
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Up here we're not to involve ourselves unless we are also licensed mortgage brokers.  I've found a little bit of knowledge can be a very dangerous thing.

The only thing I want to know is the timeline but very rarely do my clients avail themselves of financing.

Jun 17, 2015 05:44 AM
Rainmaker
4,796,451
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I'm most interested in knowing what is happening and any red flags that pop up in a timely manner.

Feb 24, 2019 07:36 AM
Rainmaker
2,230,293
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Gene. For those of us in the mortgage business, it is our responsibility to educate our Realtor partners. It makes them better with their clients, as their clients will often ask about financing.

Jun 17, 2015 07:47 PM
Rainmaker
3,237,942
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Gene -- it's important to have a good basic understanding of the process so you know the flow and stay on top of the transaction.  I don't need to know specifics but it's good to understand when there is that BS factor or when something goes South.  Knowing specific market segment expertise of lenders is important too.   

Timely and accurate communication of information and updates is a trait all lenders should possess.  

Jun 17, 2015 07:04 PM
Rainmaker
1,477,056
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Here is the question for you. My client is fully ready to go, but the HOA does not have 10% sent to its reserve in last few month( even the reserve by itself is substantial), my client has only 10% down and we were said today that it is ''no go'' without 20% down. Why my client must loose this property and all money she already spent because few low numbers on HOA budget?!?!

Jun 17, 2015 04:40 PM
Ambassador
4,298,221
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Gene Mundt, Chicago-area Mortgage Lender - www.genemundt.com - well, one of the reasons I love ActiveRain is - you and many other professionals share their knowledge here and keep us 'ahead of the curve'!

Knowledge is power - and members like you provide us that power!

Jun 17, 2015 08:08 AM
Rainmaker
4,309,178
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Gene,

It is part of a well rounded real estate agent profile in my opinion.  Even when people are buying all cash, you have to understand the lending process and what is involved with it.  In commercial real estate many of our developers closed 30 days all cash, and then put a loan on the property.  That was not everybody, there were still those that bought buildings and wanted to know about loans and providers.  

One can never know too much in my opinion, and it is frustrating because one learns how much they don't know, LOL A

Jun 17, 2015 02:35 AM
Rainmaker
698,797
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

I do not find it very helpful or needed.  We are a 2nd home market and most closings are cash.  When a loan is involved I usually tell the buyers to look to their hometown banker.  When a Naples resident is looking for a loan I do mention to them to the mortgage broker most used by our current office or our past office. 

Jun 17, 2015 02:22 AM
Rainer
60,491
Renee Paray
Coldwell Banker Preferred - Blue Bell, PA
REALTOR

It w ould be very helpful to keep current with the lending process as well as new guidelines, etc... We occassionally, have lenders come into the office and provide lunch. 

Jun 17, 2015 02:22 AM