Best Mortgage and Home Loans » underwriters

Your Only as Good as the Team Behind You

admin — Mon, 24 Aug 2009 20:37:03 +0000

A mortgage company is just like so many other types of companies where the team behind the scenes is really what makes it all happen. It’s like that in most financial institutions that I have been a part of from banks to investment firms. Those of us who deal directly with the public would be hard pressed to do everything that needs to be done if not for the processors and underwriters that are behind us. Many of these dedicated people have lost or been displaced over the last two years along with thousands of others that have been forced or chosen to get out of the financial realm.

For all of us that have stayed and plowed through, we have realized how truly fortunate we are to be the best of the best in our companies. I definitely work with the best there is and they are right here in our local office, which makes people very comfortable. There is something to work with people that you can go see and talk to in person if you choose. The processors and underwriters are your neighbors and they care about you and the community you live in. They are not a voice on the phone that can be from anywhere in the world these days. It’s an old fashioned model that works. That’s why we have kept it.

The Time it Takes to Close a Loan

admin — Fri, 05 Jun 2009 01:46:08 +0000

There used to be a couple of things in times past that you would hear loan officers say. One was, “If you can fog a mirror, we can give you a loan!”, and we all know where that has taken us. The other is, “We can close a loan within a week.” which no longer applies in most cases. The reason it takes longer to close most loans is simple; they are all full doc loans with full disclosure and the appraisal process is now a separate process that can take forever!

When we can close a loan it will already have an appraisal and the client has given us all the documentation along with an appraisal that can be easily transferred. Other than this scenario, loans take at least two to three weeks to even think about being closed. If you could sit with a processor and underwriter and see how many times they touch each file to order, clear and calculate you would be amazed they turn the loans as quickly as they do. While loan officers are the fuel, it is all the people that work on the backend that make up the engine that allows your mortgages to get processed, underwritten and funded. These people are amazing at what they do and deserve more credit than ever given.

Underwriter Hell

admin — Sat, 11 Oct 2008 15:53:58 +0000

It has been a difficult year in the mortgage business trying to keep up with all of the changes that keep coming down in droves. I give kudos to all who have half way stayed on top of the situation.

Today, however, I want to publicly thank all the underwriters and processors who have been bombarded, sometimes on a daily basis, with changes in every one of the loans programs. I have no idea how you guys have done it and continue to do it each and every day.

The fact that you have to learn the changes and make all the loan officers abide by the changes is a daunting task. Add to that the fact that you constantly deal with our customers and calmly explain what is happening and why makes you close to saints in this crazy market of today. We may not ever tell you, but we do appreciate all you do, more than you know.