I have to admit it is hard to pick a good Michigan mortgage loan officer. You have to have trust and believe that the Michigan loan officer will do what he will say. I am going to tell you a story about one Michigan loan officer that I am dealing with. I am a realtor and a mortgage person. So I know both sides and a loan officer can’t pull the wool over my eyes.
The first clue was that I emailed and faxed the purchase agreement over. The home buyer did too. The loan officer never called back on his office phone until three days later. He then said he never got it from me or the buyer.
Then he went on vacation and never let us know. He had no processor to start the loan or to take care of business. After dealing with “Ron” I would say these are two tell tale signs to find a new Michigan loan officer before you go any further. If you can’t get good communication or call backs in the beginning…. then it is not going to get any better as you go on. As a your realtor I need to know what is going. I need to be able to plan the closing, I’m here in your corner to help your close your home deal whether I am doing the mortgage or not.
I don’t normally even ask about the mortgage if a prospective buyer has a pre-approval letter. I’m that way, I’m not pushy. Though many times I can do a little better rate when I am doing the real estate deal. I don’t need to make as much on the mortgage end. I just want the deal to close for you. I just get frustrated when my clients are taken advantage of with a high rate or high closing costs or poor service.
part 1 of three on a bad loan officer series