4,882,355
About the same as when I started, not that much. I just know the good ones to refer to my buyers.
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Melissa Jackson REALTOR
Azle, TX
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Nina Hollander, Broker
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
1,466,207
William Piotrowski that all loan officers like real estate agents are not created equal.
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Bob Betel
Sweetwater, TN
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Melissa Jackson REALTOR
Azle, TX
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William Piotrowski
Naperville, IL
3,345,091
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.
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Bob Betel
Sweetwater, TN
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Nina Hollander, Broker
Charlotte, NC
5,583,278
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....
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William Piotrowski
Naperville, IL
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Lyn Sims
Schaumburg, IL
3,587,960
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.
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Lyn Sims
Schaumburg, IL
5,104,931
Really, nothing much. All I want are the good lenders I can feel comfortable referring my clients to.
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Bob Betel
Sweetwater, TN
1,712,676
When I started out I tool a mortgage banker to lunch every week for a year. I knew it was a key to success.
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JoAnn Moore
Georgetown, DE
7,836,139
Over 50 years of practical experience dealing with mortgage loan officers.
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JoAnn Moore
Georgetown, DE
1,045,440
How the appraisals worked more closely and how to structure offers accordingly for my clients
6,393,609
Avoid conventional loans, go with inhouse mortgages, saves tons of fees for a small bump in interest.
55,673
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".
321,564
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.
2,684,109
Nothing. It changes, depending upon the whims of the Big Banks, the Global Elites, and the Federal Government.
5,230,113
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!
4,272,548
3,986,258
1,076,551
1,502,998
809,258
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!
4,936,705
1,844,301
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.
2,182,552
Most Mortgage Originators are not generalists , but instead more niche like with certain types of loans .
2,781,173
1,543,823
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.
921,504
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.
4,800,082
1,725,996
5,216,409
I started in the mortgage business, so keeping up as I moved to sales has been a challenge!