Does this guy look familiar? He may be processing YOUR LOAN. Not all lenders are created equal.
I realize that the lending business is VERY TOUGH. Perhaps one of the most challenging of all these days.
As a Realtor, what do I want for my clients in a lender? The same thing I want in a doctor. Tell me the truth. Upfront. Don't think you are doing any favors by sugar coating, stalling, or just plain ignoring that stack of papers on your desk that has my clients life on hold.
People plan their entire life around moving. Yes, most of my problems in this business have been related to a crappy lender. Understand this for sure, I have an amazing, ethical and proven lender that I refer people to. However I am dealing with an agent who's buyer chose Donald Duck for his lender.
I hope if you are just stumbling across this blog, you understand that when a good Realtor recommends a lender, please listen to them before calling 1-800-LOAN-DUCK.
If a lender delays a closing, it is often disastrous for dozens of people affected. While it is TRUE it is not the lenders fault if the customer is not approved for a loan, let's talk about a TIMELY RESPONSE. TIME IS OF THE ESSENCE for lenders just the way it is for Realtors.
For the most part, I have had good experiences with lenders. But yes, my feathers are ruffled and I am still waiting for this duck to quack, as he seemed to be twiddling his thumbs while the rest of us were working!
(Do ducks have thumbs?)
BethAnn Long ~ Spokane Realtor- Coldwell Banker Tomlinson South Inc.
509-362-4607
...there's no place like your home!
Beth Ann: I don't know if a duck has thumbs... but I don't think so. So if your duck messes up a loan, it will have to be you who gives your duck... "the finger." LOL. < sorry... could not resist >
In the old days a lender would over commit and not get it done. Now I think its he underwriting that is slow to pull the trigger. I know I would be.
I actually talked with someone yesterday that did not want to divulge the name of their lender...
I was not sure how to react to this one...
I have two amazing lenders. I gladly give out their names!
BethAnn - it is truly amazing how little importance some people put into selecting the right lender. I think it happens because of how few real estate transactions each consumer is involved with during their life. They may finance 2-3 homes in their lifetime and expose themselves to the horrible lenders but you and I have to deal with the fallout week in and week out.
Mike