Mortgage Blog

Dilemma as a Loan Agent

February 15th, 2012 10:06 PM by Eric Fang

I talked to one of my clients about the mortgage
business. We talked about one lender, which we hate
the practice, but we like the rates.

As the borrower, we all wish we could get the
lowest rates with easy lenders, but it is not
the case some times. This lender will ask
endless documents from the borrower.

As a mortgage broker, we spent 4 times of my
processing time to work on those loans. It
is not economically right. But we will
still do it, just because we want to get the
best rates for our clients.

Another thing, this lender will require the
borrowers to stay for 180 days before next
refinance. I think I will shop around for one
more lender in the future.

Posted in:General
Posted by Eric Fang on February 15th, 2012 10:06 PM



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