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Rainmaker
4,882,355
Richard Weeks
Dallas, TX
REALTOR®, Broker

About the same as when I started, not that much.  I just know the good ones to refer to my buyers.

Feb 08, 2017 07:22 AM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

William Piotrowski that all loan officers like real estate agents are not created equal.

Feb 08, 2017 06:19 AM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Although a lot has changed in terms of types of loans (100% financing) it all still seems pretty much the same. Working with good lenders is essential. 

Feb 08, 2017 08:07 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

when I started out in 1978, we qualified the buyers and were very familiar with the rules of financing.... they're much more liberal now....

Feb 08, 2017 07:15 AM
Ambassador
3,587,960
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Welll I started in 87 so things were different back then. Looking back I wish I had known how the big banks had the ability to take down most of the country with their actions in 08. We could have saved a LOT of folks a whole lot of pain and suffering.

Feb 08, 2017 10:19 AM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Really, nothing much. All I want are the good lenders I can feel comfortable referring my clients to.

Feb 08, 2017 10:15 AM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

When I started out I tool a mortgage banker to lunch every week for a year. I knew it was a key to success.

Feb 08, 2017 06:59 AM
Rainmaker
7,836,139
Roy Kelley
Retired - Gaithersburg, MD

Over 50 years of practical experience dealing with mortgage loan officers.

Feb 08, 2017 06:30 AM
Rainmaker
1,045,440
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

How the appraisals worked more closely and how to structure offers accordingly for my clients

Feb 05, 2018 06:13 PM
Ambassador
6,393,609
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Avoid conventional loans, go with inhouse mortgages, saves tons of fees for a small bump in interest.

Apr 08, 2017 10:36 PM
Rainer
55,673
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

Now in my 47th year as a mortgage banker, I can tell you that in the real good times,we would run credit (No FICO Scores back then), look at Income (No Debt Ratios back then),Look at the Loan To Value and make a credit decision within 48 hours. Then I would call my appraiser,and the buyers attorney and close with 15 days. Today,due to Dodd-Frank, CFPB and TRID we are afraid to let go of the file. Think of this....if an LO who knows his/her job can review credit,do the Debt Ratios, Review Tax Returns,and send a deal in for processing . Why must we make our borrowers jump through hoops to get approved. Finally,in the old days my "Approval rate was at 98.6% and my delinquency rate was .8%. Not too bad for an "Old Guy".

Feb 09, 2017 07:19 AM
Rainer
321,564
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

Not all lenders are the same!  They offer different products, some are more hands on than others. Now I know who o send my clients to.

Feb 08, 2017 10:45 PM
Ambassador
2,684,109
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Nothing.  It changes, depending upon the whims of the Big Banks, the Global Elites, and the Federal Government.

Feb 08, 2017 10:11 PM
Ambassador
5,230,113
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Since we don't do as much qualifying as we used to do, I know more about that than we really do need to know these days!

Feb 08, 2017 08:33 PM
Rainmaker
4,272,548
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Leave financing to the professionals...

Feb 08, 2017 07:49 PM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Nothin...I leave that up to the loan officers.

Feb 08, 2017 05:30 PM
Ambassador
1,076,551
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

That common sense has no place in the business.  

Feb 08, 2017 11:43 AM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Ditto to what Richard Weeks said

Feb 08, 2017 11:21 AM
Rainmaker
809,258
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

That not all lenders and loan officers and banks and credit unions are created equal.  That if at all possible a local lender is the best option over a national or online lender.  That it is important to work closely with the loan officer to know the buyer's true closing costs when writing an offer for them and that often out of state lenders disclose fees incorrectly since they don't know the market which could affect the ability of a buyer to win a bid in a multiple offer situation.  That in our experience the major banks are the most difficult to work with, communicate with and get things done in a timely manner.   Oh, also on my first deal I didn't know that FHA mortgages charged for the interest upfront for the entire month.  One of my first closings closed a day late - the 1st of the next month instead of the 30th of the previous month.  That agent and seller were mad and I couldnt figure out why they cared so much!

Feb 08, 2017 11:16 AM
Rainmaker
4,936,705
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Lucky I work with 3 great lenders.

 

Feb 08, 2017 10:46 AM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

I should have left that portion of the sale to the LO. That was not done early in real estate. Now I put the blame, credit or responsibility clearly where it belongs which is on the LO's shoulders.

Feb 08, 2017 10:35 AM
Rainmaker
2,182,552
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Most Mortgage Originators are not generalists , but instead more niche like with certain types of loans .

Feb 08, 2017 09:53 AM
Rainmaker
2,781,173
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

That the underwriters call the shots....NO one else

Feb 08, 2017 08:52 AM
Rainmaker
1,543,823
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

I wish I knew Jason E. Gordon sooner in my career. Otherwise, not much, I sell houses I don't lend on them therefore I'm limited in my conversations about mortgages and grant deeds.

Feb 08, 2017 07:11 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Play hard ball. Get the lender out of the negotiation process at the start.

With the big banks, no one is in charge.

The contract between the mortgage broker and buyer is not the same one between broker and bank.  Promises and assurances must be taken with a grain of salt and Plan B ready to go.

Actually know who/what mechanism sets the interest rate. Many mortage brokers  do not possess the right answer. It would serve everyone well to sort out these before your buyer or seller finds out the hard way.

Feb 08, 2017 06:55 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It has changed considerably since I started.

Feb 08, 2017 06:54 AM
Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

SInce I am a licensed NMLS;  nothing.

Feb 08, 2017 06:51 AM
Rainmaker
5,216,409
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I started in the mortgage business, so keeping up as I moved to sales has been a challenge!

Feb 08, 2017 06:24 AM