In the press today, we frequently see reports of how hard it is to get a mortgage for a home loan and a great deal of the “blame” for the lack of a better housing recovery is laid at at the feet of the mortgage industry. When I tell folks that in the last 6 years I have not lost a single sale because a qualified buyer couldn’t get a loan they look at me like I have a 3rd eye or my nose just grew 3 inches. Now I am not saying there haven’t been challenges and I am not saying that I haven’t been so mad I could bite nails when a closing was delayed because the mortgage company asked for “new” documentation at the last minute; but, they did all close – eventually.
Below is a link to a great article published by Forbes. (The article was sent to me by my good friend John Palmer at Liberty Home Mortgage. Thanks John.) The premise of the article- and it makes great sense in retrospect – is that mortgage originators are no longer looking for the perfect mortgage or the perfect mortgage customer. The mortgage originator is looking for the perfect mortgage FILE. It makes great sense and it might save all of us a lot of grief if we took this little article to heart.
Take a few minutes and read it through and pass it on to anyone that might be considering buying a home. It is a quick read & a good one.
The Perfect Loan File
See you ’round the Mountains,
Don