Beumont Appraiser to Valuate a River Oaks Listing

This is Major Hernandez, reporting from the enemy lines. Lots of activity this week. We were shot at by underwriters, dodged by appraisers, and yelled at by our processors. JUST KIDDING. It is sometimes a war zone though! Mostly from some of the recent regulation passed down (my previous emails have mentioned the appraisal changes). I thought this week I would summarize for you the day in the life of a mortgage originator. Maybe there will be one tidbit of information you can use to help your clients close on time!

Here is a summary of what happened this week:·
Clients current lender (the FDIC) offered a 15% principal reduction if he would refinance within 30 days !·

Rumored by one of my competitors that underwriters no longer accept a non realty add – THIS IS WRONG……·

Mortgage Lender (remaining nameless) is turning away clients saying 90 days min processing time to close – actually 2 (hint: they are in the top 5 national lenders)·

Seller rejects pre approval letter from buyers mortgage company because fear they will not close on time (one of the national lenders mentioned above)·

Realtor I know gets a call from an appraiser (not mine!) from Tyler , TX (this is a true story)·
Prospect calls me and asks if we do liar loans- IS HE KIDDING?·

At closing, we discover that borrower quit his job (we always call the day of closing to the employer!!!) HINT: don’t quit job day of closing·

We saved 2 borrowers from losing their close dates- and closed their loan in 7 days! (the first lender dropped the ball for the last 6 weeks). Hard to do in this market!

Well, at least I can say my job is interesting. Actually, I love every minute of it! So please, if you have a client that needs a trusted mortgage lender, we are your answer. Thank you for your referrals!