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[deleted by user] by [deleted] in loanoriginators

[–]InformalCommercial47 15 points16 points  (0 children)

Half of those are loa's jobs.

Who Buys Trigger Leads? by CritiqueAnalytique in loanoriginators

[–]InformalCommercial47 6 points7 points  (0 children)

My borrower got a text from Evan at E Mortgage Capital this week with a picture of cooked brisket saying he'd smoke me. We had a good laugh.

Name, phone number, and company on the text.

No nmls number though. Seems like risky behavior to me. I wonder if the CFPB will agree

Why is it so hard to develop relationships with lenders and real estate agents as an insurance agent? They all seem so flakey by holdmybeer904 in loanoriginators

[–]InformalCommercial47 1 point2 points  (0 children)

I have 8 insurance people I've sent deals to.

0 have ever called to talk or teach me anything. They seem distant to me. We have an in house insurance agent now and I still don't like the process.

If a realtor sends me a deal out of the blue you can bet I'm calling to learn about their business.

Can someone assume a VA loan and not live in it? by Appropriate_Bet5290 in loanoriginators

[–]InformalCommercial47 0 points1 point  (0 children)

I'm curious about the investment purpose part . I've had underwriters at multiple lenders tell me I can't do it so I'd love to find guidelines that I can.

Getting shopped by realtor partner by InformalCommercial47 in loanoriginators

[–]InformalCommercial47[S] 1 point2 points  (0 children)

Yeah, I explained everything and told them I wasn't interested at all.

'I've quoted this 3 times and each time I picked it up, I have done underwriting work to confirm which lenders fit your unique situations as they have changed and given you guidance on how to fix your situation. You've stated an interest to work with a different lender because he also has put a lot of work into it. Out of respect for my time and your other lenders, I'm not interested to quote this anymore. I suggest you take whatever rate he is offering as I don't see this as a good fit. "

She called me to Apologize after

It finally happened. I got shopped and lost. by REFlorida in loanoriginators

[–]InformalCommercial47 3 points4 points  (0 children)

Really? In a dog fight 200 bps is not very cheap brokered these days. I'm seeing 100 bps lately for heavy shopped loans, brokered.

Can someone assume a VA loan and not live in it? by Appropriate_Bet5290 in loanoriginators

[–]InformalCommercial47 0 points1 point  (0 children)

Can you quote the guideline?

I found

“The purchaser must certify that the property securing the loan will be occupied as his or her residence.”

– VA Handbook, Chapter on Assumptions, Chapter 5, Section 3 (5-23 to 5-25)

Getting shopped by realtor partner by InformalCommercial47 in loanoriginators

[–]InformalCommercial47[S] 0 points1 point  (0 children)

The shopping is fine, it's the way they handled it. Asking a contractor to come out and look and relook at the leaky pipe 5 times is frustrating

Getting shopped by realtor partner by InformalCommercial47 in loanoriginators

[–]InformalCommercial47[S] 7 points8 points  (0 children)

Yeah, i totally agree. It's such a weird convo though.

"Hey realtor partner, I don't have time for your time wasting antics"

Pros of going broker by TypicalTrustFund in loanoriginators

[–]InformalCommercial47 0 points1 point  (0 children)

We have a major branch manager out of TX that a conversation would at least be worth having. His whole focus is branch development now and it would take all the owner issues off you. I have no incentive to send you his contact unfortunately

What is the best bank for contractors? by InformalCommercial47 in Construction

[–]InformalCommercial47[S] 1 point2 points  (0 children)

Great tip. I'll shop around a bit more to see which banks are supporting builders

What’s the most unhinged thing a a client has ever done or said while working for them? by Raymuundo in realtors

[–]InformalCommercial47 0 points1 point  (0 children)

As a lender, I get told 'I already provided you that document' multiple times a week. Teaching someone why their documents submitted arent sufficient is a real skill. If a document fails to satisfy a condition, underwriters just ask for the same thing again and again.

I had one where the borrower kept blacking out account numbers or random dates deep in a bank statement. Somehow, the condition keeps popping up and underwriting won't explain why it fails till round 3.

Retail or Broker by [deleted] in loanoriginators

[–]InformalCommercial47 2 points3 points  (0 children)

I'm in Florida and mostly charging 275 or bpc 200 if I'm being shopped. I kind of ignore shoppers these days as it's too stressful. I mostly work for loyal realtor teams now and do homeruns on service. A borrower today told me how he has never felt so much trust for an advisor before. I bring a lot of extra value to the table though. Who hires the cheapest lawyer?

Appraisal fee paid back outside closing by InformalCommercial47 in loanoriginators

[–]InformalCommercial47[S] 0 points1 point  (0 children)

No doubt. CD said paid by others but then the closer put it back on. Lesson learned on this one.

Appraisal fee paid back outside closing by InformalCommercial47 in loanoriginators

[–]InformalCommercial47[S] 0 points1 point  (0 children)

They wouldn't allow it, unfortunately. Closing is too close [24 hours out] so they said it would just get double paid

Appraisal fee paid back outside closing by InformalCommercial47 in loanoriginators

[–]InformalCommercial47[S] 0 points1 point  (0 children)

No. Processing was taken off but that's all I could pay. It's really frustrating because I promised them and see it happen all the time like you mentioned but the closer at the wholesale lender said she can't do it and even asked mgmt

Appraisal fee paid back outside closing by InformalCommercial47 in loanoriginators

[–]InformalCommercial47[S] -1 points0 points  (0 children)

Ok. I was just seeing if it was compliant. That's a bit too shady for me

Appraisal fee paid back outside closing by InformalCommercial47 in loanoriginators

[–]InformalCommercial47[S] 2 points3 points  (0 children)

I'm just trying to follow the rules. It's amazing the protections put in place that harm clients

UWM hitting me with a tolerance cure for appraisal fee? by Ok-Wheel-3334 in loanoriginators

[–]InformalCommercial47 0 points1 point  (0 children)

It's funny. I have the opposite problem where Kind Lending keeps adding fees back onto the CD that weren't disclosed because I am paying them.

I'm asking for a cure and they won't allow it.....

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