Logan Utah Mortgages and Real Estate: April 2010

REALTORS - What are your most desired qualities in a Loan Officer?

 

Via Nick Pakulla Mortgage Loan Officer in MD, DC, VA (First Place Bank):

It baffles me the numbers of agents I talk with that are nervous about the possibility for a settlement to be delayed, even after the LO knows when the settlement date is, and agrees to do the loan.  In my opinion, ALWAYS closing the loan on time is the number one most important goal for any loan officer!   

When seeking a mortgage, you don't want clients to be stuck in-between two homes having to stay in a hotel for a week because your loan package has been delayed.  Or even worse the deal falls through...

The hardest part about trying to gain a Real Estate Agent’s trust and business really seems to be that they already have something that they know works most of the time, although it may not be the best, and they are hesitant to try something new.  aka: Why fix it if it isn't broken?

In my (Loan Officer’s) opinion, the top qualities of a loan officer and lending institution to meet the most important goal, the ability to ALWAYS close the loan on time, are:

  1. Timely response to all requests from clients and agents
  2. Upfront about fees and expectations
  3. Accessibility of underwriting and processing staff
  4. Ability to connect with clients and provide a high level of service
  5. Specific subject knowledge and expertise about the loan process and programs
  6. Competitive interest rates
  7. Delivery of loan package early 
  8. Unique loan programs to meet certain clients’ criteria
  9. Ability to make business decisions on loans that don’t fit the exact mold 
  10. LAST: The very best interest rates

mortgage_loan_officer_qualities

If you noticed, everything relating to physically ensuring that there will be no mistakes and the loan WILL in fact close on time is near the top, with the very best interest rates being at the bottom. 

What are your top qualities / goals for a Loan Officer?

 

Nick Pakulla signature

Nick Pakulla / Loan Officer / First Place Bank / 301.585.RATE (7283)

Nick Pakulla - pakullalending.com linkedin_nick_pakulla.png twitter_nick_pakulla_pakulla_lending.png

About the Author

John Neil is a loan officer that is passionate about his profession. His goal with every transaction is to make a customer for life. The result is that 95% of his business comes from referrals of satisfied clients. If you need a cache valley mortgage, you can contact John at 435-770-2709. You can also follow him on twitter @LoganUTMortgage or facebook @facebook/MortgageNerd

3 comments • John Neil • April 19 2010 03:11PM

Mortgage Logan Utah 4/9/2010: Introducing the Good Credit Rewards Program

Having a great credit score has always been important if you are applying for a mortgage. For most loan programs it will determine how much you will pay for an interest rate. As a loan officer I always love doing mortgages for people who have great credit. Why you ask?  Because it makes my job so much easier.

It takes me half the time to process a mortgage for a borrower with a 720 credit score than for someone with a 620 credit score. Because of this fact, my company, Wasatch Mortgage Solutions, of Logan, Utah has decided to reward borrowers with good credit with a new incentive program. We figure that if it takes us half the time to process a good credit mortgage than those borrowers should only pay half the closing costs.

For all conventional loans, borrowers that have at least a 720 credit score and 10% equity will be rewarded with...

       1. Half off the origination fee of 1% (up to $2,085 value, depending on loan amount)
        2. Free appraisal ($395 value)
        3. No processing fee ($250 value)

This program applies to any conventional purchase or refinance transaction and will apply to all borrowers who start their loan application after 4/9/2010 and before 12/31/2010.

To qualify for this program you must

     1. Mention this blog post at the time of the loan application.
     2. Have a credit score over 720 and 10% down payment or equity.
     3. Close your loan with John Neil of Wasatch Mortgage Solutions.

If you have great credit and live in Utah or Idaho and are looking to purchase a home or refinance your existing mortgage, call me at 435-770-2709 for a free consultation. I look forward to exceeding your expectations.

 

 

About the Author

John Neil is a loan officer that is passionate about his profession. His goal with every transaction is to make a customer for life. The result is that 95% of his business comes from referrals of satisfied clients. If you need a cache valley mortgage, you can contact John at 435-770-2709. You can also follow him on twitter @LoganUTMortgage or facebook @facebook/MortgageNerd

2 comments • John Neil • April 09 2010 04:20PM