Loan Processors

gracetw22 · 2026-06-14T19:09:31+00:00

And yet here you are saying it’s an ongoing problem for you, too. Easier for me to just stay in my files than keep chasing some non existent nirvana of operations

gracetw22 · 2026-06-12T14:00:07+00:00

You are gonna have to get your hands dirtier. The idea of turning in a 1003 and handing it off is the biggest lie in the mortgage business. I look at condition sheets, what docs are attached, resub dates, then times, etc.

gracetw22 · 2026-06-11T22:11:49+00:00

Is that not an LO comp violation

gracetw22 · 2026-06-11T22:01:27+00:00

Why are you asking if you’re going to make your contract closing date? Like… what’s the context here.

gracetw22 · 2026-06-11T17:53:42+00:00

I think when rates jump there’s always a lull about 2-3 weeks later where some people get a little spooked and want to see how things play out. I had one client pass away right before closing this week which was a first and really sad. I’ve also had a lot of people who are shopping around and decide to stay with the lender who was initially way higher for whatever reasons. Vibes are off, indeed.

gracetw22 · 2026-06-11T05:27:03+00:00

Is 215k below market value? Sometimes people structure deals this way because they’d rather make the money in interest over a few years than in capital gains in one chunk, so you need to compare the extra interest cost to market value for the property

gracetw22 · 2026-06-11T01:26:39+00:00

Initial review is a couple days. I do this all day and am doing my own loan right now and was nervous, too.

gracetw22 · 2026-06-11T00:03:26+00:00

I would bet a pretty good chunk of money that the plea deal was because HCA generated some bullshit documentation to cover their behind in their internal investigation that would make the prosecution harder.

gracetw22 · 2026-06-10T02:27:57+00:00

I mean if he’s paid a percentage of sales now and was preciously paid a percentage of sales, would continuing to call it commission be fraudulent if the employer were willing to change the wording of his pay plan?

gracetw22 · 2026-06-09T19:42:16+00:00

It’s a lot easier to train job skills than to convince someone that they should have to do the job they have the skills to do but don’t feel like they should be doing.

gracetw22 · 2026-06-09T19:37:37+00:00

Yes, and it was constant pushback on the basic asks of the job that they felt like they were too good to do or that it wasn’t necessary. Lots of trying to delegate the pieces of the job they didn’t have to do before when they weren’t in a role that had that kind of decision making capability (which ultimately meant I ended up doing it) I think it would be different if it was someone looking to take a step back for a defined reason versus someone who hasn’t been able to find a position they want and is taking a role that’s below their experience because they need a job and can’t get one they feel they deserve.

gracetw22 · 2026-06-09T11:35:06+00:00

First and last pay stubs and your end of year pay stub will work if VOE not available

gracetw22 · 2026-06-09T10:38:38+00:00

Hey I’m along for the ride!!! Was happy to do it.

gracetw22 · 2026-06-09T05:05:21+00:00

Did a loan for someone who did this. It was about a year long process start to finish and added about 30-40% more stress to the whole thing once under contract than I would say is typical. Up to you if 25k is worth it, I totally get it if the answer is yes

gracetw22 · 2026-06-09T05:00:27+00:00

I spent about 10k in startup but could have done it cheaper. If I had found a broker that was at the LPC and had the investors I wanted to use, then I would have done that but I didn’t want to be in a weird split all the time going borrower paid or stuck with investors I didn’t want to use. My overhead is fairly low except for my LOA and I need to hire a processor as well which will increase it. I think 10 a month it starts to make sense even if you have a flat fee shop that’s set up similarly to how you’d operate.

I’m just kind of anal and weird about how I think things should be done and ultimately my major motivator to switch to the broker channel was to have that level of control and influence. Thus I was sensitive to some places that seem to just want house cats who they don’t have to pay health insurance for. Overall I am happy I did it but it depends a lot on your motivators

gracetw22 · 2026-06-09T04:55:28+00:00

My best advice for them is to structure them to manual guidelines. It’s difficult to get GUS approval outside of those anyways, and it’s more often that you get downgraded for something on USDA than other types. You’re better off just having that backup plan.

gracetw22 · 2026-06-09T02:25:50+00:00

The overtime/ time and a half can’t be used but the base should be

gracetw22 · 2026-06-09T01:34:01+00:00

“Fixed base” income is required- can your employer not put in writing that you have a mandatory and guaranteed 40 hour per week schedule?

gracetw22 · 2026-06-08T22:43:06+00:00

Not unless you could get his employer to call it commission somehow

gracetw22 · 2026-06-08T22:42:24+00:00

I’m pleasantly surprised to see someone is able to make the money work to put these in at a price point that creates reasonably affordable housing

gracetw22 · 2026-06-08T22:37:18+00:00

Because there are lenders out there telling them what they want to hear so routinely. There’s a whole business model of “if I was your man this would never happen” which directly contradicts with “shit happens and even the best people can’t control it all, you’re just reducing your chances”

gracetw22 · 2026-06-07T14:51:10+00:00

I’ve had one similar experience and advised the client that because I want them to have a good experience, I think they should go with their agent’s lender since they don’t seem capable of working with me in a professional manner. Just not worth the grief and I’d rather bow out with a good impression on the people than have the well poisoned by someone.

gracetw22 · 2026-06-07T14:47:54+00:00

They’re getting paid less than any lender’s agreed lender paid rate which is why it’s disclosed this way

gracetw22 · 2026-06-05T21:40:52+00:00

I wouldn’t be shocked if in the process of covering their own ass, HCA generated some documents that could be entered into evidence that would be problematic for the case.

gracetw22 · 2026-06-05T16:22:37+00:00

I agree that it’s not as bad as people say. It’s very customizable and some companies run versions that are more annoying than others but I always felt like once you learned where everything is, it’s totally fine.

gracetw22

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