"Will the Mortgage Process Get Easier Soon?"
I'm questioned about the topic of mortgage processing all the time. But probably the question I hear most often, especially from those within the industry is, "Will the mortgage process get easier soon?"
It'd be easy to give a quick answer ... "yes" or "no". But
After reading yet another news article on this topic just this morning, ("When Will Mortgage Lending Standards Ease?" by Tim Manni, U.S. News & World Report), I thought it time to broach the subject again.
Within the article above, it gives the author's opinion on a list of actions that must take place in order to cause (positive) changes within current lending standards. I'm sure all the items mentioned on this list can and will be debated as to IF they will ever happen ... or at minimum, WHEN they might happen. My personal opinion is that even if things change on this scale, it'd be quite a while before we see results from those changes.
Those considering Buying a Home (or Refinancing) have the power to control some of their own destiny regarding the mortgage processing services they experience and receive. There ARE steps they can take to insure a faster, smoother mortgage process.
Now some will say that what I tell you here is self-serving. I'm a Mortgage Lender. And that would be true, for I firmly believe that there are differences to be found within the mortgage service(s) and guidance I offer and that of other lenders. But that said, this is also true ...
There are Mortgage Lenders that have soaked-up and retained vital information, learned valuable services, and honed tools while navigating their clients during the last few years of more strict Underwriting regulations. And there are others that have not. Here's a few ways to measure ...
A good Mortgage Lender has learned from prior Underwriting experiences to anticipate what Underwriters typically request during certain mortgage financing scenarios. And they will have prepared themselves, their files, their clients, and the other professionals within the transaction for those Underwriting requests in advance.
By doing that, the good Mortgage Lender eliminates many last minute issues from arising. The Lender cuts down on the stress level for all involved within the transaction. They save time. They meet deadlines and set contract dates. They can save money. They can save entire transactions from falling apart.
The good news regarding this is ... You as the potential Mortgage Applicant retain and have complete control over who you choose as your Mortgage Lender. You don't need to feel like a human pinata during your mortgage processing. You are not defenseless.
Use the power at your disposal! Flex your muscles! Put yourself in the driver's seat! Take the time and make the effort to find the very best Mortgage Lender possible for you and your needs. Seek referrals. Check references. Ask questions. It makes a huge difference as to the speed, quality, success, and level of enjoyment you experience while in the mortgage process for your home.
"Will the mortgage process get easier soon?"
Yes! No! Maybe! You help decide ...
* Hoping to Buy or Refinance a home in New Lenox, Will/DuPage Counties, or elsewhere in the Chicagoland area? Contact me today! I'll put my 36+ years of mortgage expertise and experience hard to work on your behalf.
I can be conveniently found at any of the following:
Direct: 815.524.2280
Cell/Text: 708.921.6331
eFax: 815.524.2281 Skype: 630.219.1316
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