The importance of using an experienced mortgage loan officer.
This story comes about as a cautionary tale to anybody thinking that all loan officers are built the same. The goal of this post is to explain the true difference an experienced, thorough loan officer can make on your loan. In fact it could be the difference between an approval and a denial. A case in point is a client who came to me a week ago with a ton of stress and two lenders who just couldn’t figure out how to get his loan approved. I was able to structure his loan so that it met all underwriting guidelines at the best possible terms. All things being similar as a matter of good service the most important tools I have at my disposal are as follows:
• a lot of underwriting knowledge
• ability to properly structure a loan
• be a good listener
As a client, what you want, and what you should demand is attention and service. Without the proper amount of experience, patience, and ability your loan officer will not know how to get your mortgage approved. Now, everybody needs to start somewhere but do you honestly want your biggest investment you will ever make be somebody’s trial and error?? The answer is heck no! Would you go to an intern to operate on you?? So when shopping for a mortgage always ask for a resume and how long the lender has actually been in the business. You can always go to
<a href="http://mortgage.nationwidelicensingsystem" and look up by their NMLS number and it will tell you all you need to know of their experience.