Professional Advice on Lender

[Jamal Fontenot]

Hello BP Family, I need some help. So I was connected with a lender when I first expressed my interest of investing. For the most part I think she has my best interest in mind, but when I ask questions wanting to learn more about the process her answers seem to be real "crippling", implying that the only way I can figure that out is if I go through her to get the answer. If there is anyone willing to give a helping hand I would love to connect and get an outside opinion on the conversation. I would like to forward you the conversation that was had between me and the lender via email so if anyone has some free time I will personal message you! Thanks again!

[Chris Mason]

Originally posted by @Jamal Fontenot:

Hello BP Family, I need some help. So I was connected with a lender when I first expressed my interest of investing. For the most part I think she has my best interest in mind, but when I ask questions wanting to learn more about the process her answers seem to be real "crippling", implying that the only way I can figure that out is if I go through her to get the answer. If there is anyone willing to give a helping hand I would love to connect and get an outside opinion on the conversation. I would like to forward you the conversation that was had between me and the lender via email so if anyone has some free time I will personal message you! Thanks again!

 Hi Jamal,

Phone, not email. Give her or him a call. :)

Two things, coming from someone on the "other side" of those interactions, that email chain where the LO is probably giving you short answers and moving on with their day:

1) Loan officers get anywhere from 250 to 400 emails a day. 

2) Loan Officers that spend all day in their email and/or texting tend to be the low producers, they just don't do a whole lot of business. 

Walk into any mortgage branch location, sit there for an hour. You now know everything you need to know about who the producers are, who is closing loans and taking names... it's the gals and guys back to back on the phone and meeting with people in person and on the phone, busy as a bee processing loan paperwork (and/or delegating that to an assistant) and shoving them through the pipeline. 

That guy over there in the corner in his email all day? Lowest producer in the office, he will be lucky if he closes 2 loans this month. And because he just doesn't do a lot of business, that means he's not up to speed on the latest changes in guidelines, process, etc.... if you're a cobbler with some unique cobbler quirks and mortgage implications, he doesn't know what those are, since it's been 5 years since he did a loan for a cobbler. 

If it seems like your LO doesn't want to be part of a long epic e-mail chain, that's why. To us, it's the curse of doom!