| Joel Britt 2005-06-17, 11:27 pm |
|
"Scot Lilly" <slilly@pratamortgage.com> wrote in message
news:Pia0e.1982$Qz.203@okepread05...
quote:
>I think this actually has a two fold answer. I have hit up friends and
>family for loans. This has been 99% good in the fact that what I was able
>to get them did improve their situation and was also done smoothly. The 1%
>it went bad was totally out of my hands with an old friend. However, the
>loan was great, just the closing was a mess because of the lender. They
>closed the loan, then screwed up and had to re-close it again. Not a huge
>deal, more or less bothered him in the fact of the time he had to take to
>get everything redone. I think that making a good name for friends and
>family in important in the fact that when you are first getting started
>they are your biggest voice. But you have to have confidence in what you
>are doing and make sure that you are doing a good deed. If you have a
>friend that this a loan is only marginally helping (refi mostly), then you
>need to be the first to tell him that its a bad deal. They will talk twice
>as high of you to their friends and co-workers.
>
> --
> Scot Lilly
> slilly@pratamortgage.com
> www.pratamortgage.com
>
I have seen this happen before myself. Whenever there is a problem at
closing no matter how small, the borrower is often confused and frustrated,
and this can really hurt your credibility as a broker even if you get the
problem fixed quickly and doesn't affect the loan.
Personally, I think the biggest way to quell problems at closing is for the
Loan Officer to attend the closing. I am surprised by the number of LO's
that don't go to there closings. My guys are required to be at every
closing. If they cannot be there, then a member of our managment staff will
attend as a representative of the company. If there are problems, we are
able to begin overcoming any possible objections immediately, and it gives
us assurance that the client is happy, and greatly reduces resicions.
quote:
> "Steve" <steve@over100percent.com> wrote in message
> news:Ex5id.24362$T_.20539@bignews4.bellsouth.net...
>
>
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