October 23rd, 2012 12:00 PM by Gregg Mower
Are you all alone when you say that your lender is slow, un-knowledgeable, and high priced? I have hear all kinds of stories of a client’s Loan Officer doesn’t get back to them, keeps asking for more stuff, seems unorganized, and doesn’t communicate well. I was talking to a customer today and her loan officer has been working with her since March and it is October and she still doesn’t know if she is qualified to buy the home she really wants. This seems to be a theme I am not fond of as I believe in the industry being in it for 28 years. I am not sure what the problem is, maybe it is the lack of training, or commission people cannot afford to get the necessary instruction to be professional in this business, I am not sure but it is startling to me to see unprofessionalism in my business. In most cases Loan Officers only have to have the NMLS license to do the business, but at MAE Capital our Loan Officers have the NMLS as well as their Real Estate License. This allows for the Loan Officer to also know what the job of the Real Estate Agent is when they are doing a loan for a purchase transaction. MAE Capital Mortgage Loan Officers not only are trained once a week in their weekly meeting but are paid salary so they are objective when picking a lender and a loan program for their clients. I am not a fan of my profession being referred to as “lower than a car salesman”.
A good Loan Officer will take the extra time to make sure a client is fully informed of what they qualify for before; they let them go out and look for a house, or refinance an existing house. A good Loan Officer will have a system to follow up on your transaction with you on a regular timeframe. At MAE Capital Mortgage if you apply online you will be informed of the status of your loan as it changes though emails or by logging back into the system. You will control your own loan transaction through the internet and automatic triggers that tells the loan officer through emails to update you by calling you. The loan process is much more involved than it has ever been so having control of your loan transaction is important and controlling your flow of information from your Loan professional is crucial. If you feel you are getting the “fun around” from your current Loan Officer you should get in touch with one of MAE Capital Mortgage’s Loan Professionals and see the difference and learn all that you have been missing. MAE Capital Mortgage is a small Mortgage Broker that has the time to educate and inform our clients of the process you are not just a number a MAE Capital Mortgage you are a person that has control of their own transaction. With small business Saturday coming up keep us in mind for your loan needs.