Home Loan Information Home Loan Information From A Former Industry Insider

It's YOUR Fault! No, it's YOUR Fault! Well it's not MYYYYYY Fault! Yes it is! No it's NOT! …

It’s wonderful to be in the position to site around both campfires. I mean be in on meetings for both loan originators and real estate agents. There is a good deal of enlightenment from this opportunity.

One thing that never ceases to amaze me is the lack of realization that this is much more a 50/50 team work opportunity than either “side” would like to concede. At times agents feel that the loan originator just takes the application and says “yes” or “no” failing to have the slightest bit of understanding that the loan originator may spend as many as 10 hours or more just looking for the right home for a specific borrower. Obviously the better qualified the borrower AND property the less investment of time needed.

Most folks don’t realize that on the lender side as many as 8 or more people will spend several hours each getting the file to closing.

Likewise there are times when loan originators have no clue that the real estate agent spent $37 in gas, two lunches, 1 missed child’s sporting event and more just to find the right property for the borrower AFTER they spent 4 hours digging through listings and talking to seller’s reps about the properties.

WE ALL WORK HARD

I recently wrote that we all see the world from our own perspective. In teamwork we must forego our shortsightedness and see the world through our teammate