LOST but not Forgotten!

I just lost a client to a broker who promised 4.5% BUT they couldn't lock until underwriting approved their application (including appraisal) in 15 days. The client fell for it. OH WELL! So what's an honest 'I can lock your rate on that price today if you commit to working with me today' kind of straight arrow like me to do? Keep being honest! In this instance I just had to mention that forward locks are a fact of life in good relationships...which they are-- but we don't live in a guarantee world. Truth is we never did --so the loan officers still standing in my state (30%) since last year would probably be your stubborn types like me that refused to mislead anyone from the get-go. How boring! I like to sleep at night.

LEARNING CURVE: The upside of this little life lesson is that I am always gracious in defeat and when the person I mentioned above gets to the closing table in 15 days and finds their rate has shot up (!) I am hopeful of a call. I once went head to head over Good Faith Estimates with a local credit union and the borrower was so amazed I actually explained what was going on that in the end I won a long term client.

You see, it's not about the battle, it's about the war. Since a depression is essentially an economic warring of factions, it's important to pick your battles and stick by your comrades, your clients. I'd rather work with someone who trusts me to find their loan and keep them informed and not succumb to the 'oh did I mention we lost your lock because the underwriter took too long?' game. Life has enough curve balls. We all make mistakes. Yes, I lost a lock once...and boy did I pay for it --but that was a mere down payment on my future business. In this town anyway.

GRAB YOUR RATE before the Inauguration
Yes, we have best terms on record for the last 50 years and once the administration changes all bets are off how the market will respond.

We are locking 15 and 30 year fixed rates at 4.5 - to below 5.0% range today!

Practice credit wellness: www.netcredit.blogspot.com

Click this Credit Link to order your tri-merge lender report on our secure site. Our agency report is about $30 compared to $50 on MyFico.com for a retail version. I'll be happy to discuss your report in person or over the phone at your convenience, no strings attached.

susan templeton www.loannetter.com

washington loan officer license 510-LO-31434 branch license: 510-MB-24707-50145