5 edition of What Your Realtor, Loan Officer and Appraiser Forgot to Tell You! found in the catalog.
July 22, 2005
Written in English
|The Physical Object|
|Number of Pages||144|
To that end, the real estate agents often refer their clients to loan officers for mortgage help. The Real Estate Settlement Act, or RESPA, ensures that there can be no transactional benefit between real estate agents and loan officers. The lender . As loan officer of many years, I can tell you exactly what is going on. The first thing a loan officer will do is determine collectively which loan program fits your need best with the purchase of your new home (from the question, it seems your purchasing a new home and not refinancing).
If you’re satisfied with the inspection and still want to move forward with the purchase, then you’ll move on to having the lender order the VA appraisal. At that point, your loan team will send a request to the VA, and they’ll assign one of their independent appraisers in your area. The purpose of the VA appraisal is two-fold. There's a bit of debate about whether you should talk to a lender first when you decide to buy a home or to a real estate agent. There are pros and cons to both options, but the bottom line is that while your loan is important, your real estate agent is even more important. Your mortgage is actually just a part of a large transaction.
Real estate agents and mortgage brokers are two sides of an industry coin. Real estate agents help their clients buy or sell homes, and mortgage brokers help their clients find affordable home loans. Loan originators require a strong support team with access to underwriters, risk managers, secondary markets, compliance officers and others that make home loans possible. We are accurate, timely, nimble and well capitalized. Let me show you what we can do to grow your business by delivering closed loans without delays and excuses.
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: What Your Realtor, Loan Officer and Appraiser Forgot to Tell You!: A Guide for First Time Home Buyers (): Kosoff, Richard: Books5/5(3). What Your Realtor, Loan Officer and Appraiser Forgot to Tell You, is an inside look that combines facts regarding the how to and how much with plenty of unique stories from past clients.
The result is an enjoyable read that maps out how to purchase a home and SAVE : Authorhouse. What Your Realtor, Loan Officer and Appraiser Forgot to Tell You!: A Guide for First Time Home Buyers - Ebook written by Richard S. Kosoff.
Read this book using Google Play Books app on your PC, android, iOS devices. Find helpful customer reviews and review ratings for What Your Realtor, Loan Officer and Appraiser Forgot to Tell You!: A Guide for First Time Home Buyers at Read honest and unbiased product reviews from our users.5/5(3).
However, you cannot represent your own real estate clients and be the loan officer on the same transaction. You can have one of our loan officers represent your real estate client and you be the loan officer assistant and get paid.
But you cannot be dually a realtor and loan officer on the same transaction. It is important to know what your house or real estate is worth, and an appraisal will help you get your loan approval.
Hopefully, this step and the rest of. 13 things Loan Officers wish the agents they work with would consider, understand, do or NOT do.
Like marketing & sales, sometimes the relationships between agents and Loan Officers can be Author: Brandie Young. Loan officer - The first opportunity is getting into the mortgage business.
The gentleman is willing to mentor me. His plan would be to take me up through the ranks (From processor, to loan officer assistant and then to a full commission loan officer.
That way I become knowledgeable in all aspects. If you are buying any kind of property, choose an appraiser and have an independent appraisal done for your own protection.
That way there is no coercsion on the appraiser to "make the deal work" and have you over pay for the property. Plus, that appraiser can probably recommend a reputable loan officer that can handle your type of loan.
You probably couldn't offer all of these services to the same client (conflict of interest possibilities), but as a Realtor it would definitely be in your best interest to know all three because you could appraise the value of a house, inspect the house to see if there were any problems (housing inspectors can make $ an hour), and then sell.
Your real estate agent suggests you use a specific loan officer to obtain a mortgage. She then leaves the room and returns with a name tag indicating her position as a loan officer. Nancy, Did your loan officer share private information detailing why you were not approved for the mortgage.
For example, did he tell the agent something along the lines of “your credit scores are xyz and your income is $$$ and she had a recent late payment and we can’t document a $10, deposit to her checking account ” or did he contact the agent before telling you that your loan.
You might not know whether you'll even qualify for a mortgage if you hire a real estate agent to start showing you homes without first getting preapproved by a lender.
And you won't be able to make a valid offer on a home without a preapproval letter if you come across the perfect place on your first day out touring.
Keep reading to see appraisal myths far too many sellers believe. The appraiser can tell you what a buyer should pay. There is an art to pricing homes for sale, and the appraisal is only one piece of the puzzle. You can hire three different appraisers to price your home, and get three different prices – much like with real estate agents.
Watch: 3 Things You Should Never Say When Buying a Home For more smart financial news and advice, head over to MarketWatch. Cathie Ericson is a. If you’re a Realtor or loan officer, it probably feels like you spend the lion’s share of your time collecting and organizing other people’s documents.
But now that it’s and April 15 isn’t too far away, it’s time to get your own financial house in order for the IRS. Considering that most Realtors, loan officers, and brokers are self-employed, that means getting a (hopefully.
Joe Parsons: A loan officer at a bank or a credit union is typically just the smiling face of the institution—the officer's job is to accept an application that the borrower has filled out, and.
So if you want to be successful as a loan officer, you need to work hard and network. Don’t be shy, make calls, visit real estate offices and link up with real estate brokers, and. If you want to buy a home or refinance your mortgage, you might not be all that concerned about how your lender selects the appraiser who figures out how much your home is worth.
If you're borrowing money from a bank or other institution to purchase your home, you'll likely have to get a home appraisal (the inspection is optional but buyers would be wise to get one.) Here are 10 important things to know about a home appraisal, starting with why mortgage lenders require home appraisals in the first : Dave Roos.
The loan officer who creates the best client experience has a better chance of retaining their existing Realtor referral base and creating a referral business from the clients we send you!
Get extensive loan officer training in customer service and implement systems in your practice that will create an unmatched client experience. The first opportunity for you to have complete control is when you are choosing your loan officer or real estate agent. Never forget that YOU are the boss.
If your loan officer or real estate agent does not meet your expectations, do not hesitate to fire them. If they are amazing, tell everyone you. 10 Things Your Mortgage Lender Won't Tell You. "We're in cahoots with your real estate broker." 7.
"Once you buy mortgage insurance, good luck canceling it." get your loan officer .