The #1 quality should be the ability to close loans at disclosed and agreed upon terms to their borrowers. However, agents cannot determine that because they use a limited set of loan officers for most situations and rarely stray to find new, better ones. Agents often dissuade clients from using perfectly capable loan officers that offer better terms in favor of their "known" sources that don't have the same pricing options.
The #1 quality is actually 3 of them.
Reliability, affordability and availability.... more
There may be California tax credit available. Recently I was reading about something in California regarding new home purchases. So doing your homework will surely pay off in the long run. Most loans are going FHA and most loans years ago were conventional so the probablity is high that your previous house was not FHA. That is something that most of us realtors and/or title reps can help you out with.... more
When you said that your loan company changed recently, it gave me a clue that you aren't probably with World/Wachovia...now bought by Wells Fargo. They were doing portfolio loans, meaning they kept them in house.
If I can project what you're really asking, and that you want to negotiate your loan situation, then speaking with your current loan servicer is always the first step, but make sure that you're talking to the right department. You can waste a lot of time talking to customer service, and the best they will do is refer you to the refi department to restructure your loan. And when I've reviewed the restructure, it's normally putting clients in a worse position than they were, rather than helping them. Rather, you want to be discussing your situation with the loss mitigation department. Get their response to your situation verbally first to see what they require to renegotiate.
Is that really what you mean? For more details on that approach, you can contact me directly.... more
I have referred Marlena Olson with Vitek Mortgage Group several times on this forum. Her service, honesty, integrity, and knowledge are unsurpassed. She can be reached at 916-486-6900. Vitek is a Mortgage Banking Institution - they lend their own money but sell the monthly servicing of the loan elsewhere.... more