Posted on: 11th Aug, 2011 06:14 pm
Am I the only one who has a hard time deciding between loan officers? I've decided that trust is the single most important factor. Only choose a loan officer, who you feel as your best interest in mind. Pay attention to how you feel when you are meeting. If you feel comfortable, and well taken care of, you probably will be fine.
Hi dustinggs!
Welcome to forums!
You may even have a word with your friends and family members ad take their opinion in this regard. If they have worked with a good loan officer, then they can give you the contact details of that person and you can contact him/her for the same.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You may even have a word with your friends and family members ad take their opinion in this regard. If they have worked with a good loan officer, then they can give you the contact details of that person and you can contact him/her for the same.
Feel free to ask if you've further queries.
Sussane
The problem with making trust the single most important factor is how exactly do you define "trust"? Would you say you would trust someone who seems knowledgeable, caring and comes recommended by family and friends? Probably that would satisfy it for most people.
But hold on as there is a serious flaw to the above. A good example is we all have heard of an individual who had all these traits and was highly trusted by an arguably intelligent and sophisticated clientele. The person I speak of is none other than Bernie Madoff.
The only way you will truly ever gain trust in someone is after you have conducted business with them. Even then, it is no guarantee that that trust is well placed.
Personally, I have lost count of the number of people who have told me they had an advisor who was looking out for their interest and they trusted, only to find out they were being had. So much for blind trust.
If you are getting a home loan first select the the loan type/term/rates/fees/options and then the lender. If you already know what you want and have selected a reputable lender, then the loan originator/loan officer becomes less of an issue. Everyone of these individuals wants to see the loan close so they can get paid. It is more important to hope that you get a competent loan processor and underwriter, along with a knowledgable appraiser but often this part is out of your control and can vary from case to case even at the same lender.
All in all, there is no guarantee that your loan process will go smoothly without a bump or two before closing. In my opinion, putting too much importance on the loan officer/originator is not warranted, if you do your homework before you enter the fray.
Unfortunately, most people spend very little time learning what they need to know and how to correctly shop and compare loan quotes before taking the plunge. Unless this changes, it will continue to be a game of faith, hope and trust instead of facts, knowledge and know-how.
But hold on as there is a serious flaw to the above. A good example is we all have heard of an individual who had all these traits and was highly trusted by an arguably intelligent and sophisticated clientele. The person I speak of is none other than Bernie Madoff.
The only way you will truly ever gain trust in someone is after you have conducted business with them. Even then, it is no guarantee that that trust is well placed.
Personally, I have lost count of the number of people who have told me they had an advisor who was looking out for their interest and they trusted, only to find out they were being had. So much for blind trust.
If you are getting a home loan first select the the loan type/term/rates/fees/options and then the lender. If you already know what you want and have selected a reputable lender, then the loan originator/loan officer becomes less of an issue. Everyone of these individuals wants to see the loan close so they can get paid. It is more important to hope that you get a competent loan processor and underwriter, along with a knowledgable appraiser but often this part is out of your control and can vary from case to case even at the same lender.
All in all, there is no guarantee that your loan process will go smoothly without a bump or two before closing. In my opinion, putting too much importance on the loan officer/originator is not warranted, if you do your homework before you enter the fray.
Unfortunately, most people spend very little time learning what they need to know and how to correctly shop and compare loan quotes before taking the plunge. Unless this changes, it will continue to be a game of faith, hope and trust instead of facts, knowledge and know-how.
Once again, after thinking I was logged in I found I was not. If a moderator could delete my post above as a guest, I would appreciate it.
The problem with making trust the single most important factor is how exactly do you define "trust"? Would you say you would trust someone who seems knowledgeable, caring and comes recommended by family and friends? Probably that would satisfy it for most people.
But hold on as there is a serious flaw to the above. A good example is we all have heard of an individual who had all these traits and was highly trusted by an arguably intelligent and sophisticated clientele. The person I speak of is none other than Bernie Madoff.
The only way you will truly ever gain trust in someone is after you have conducted business with them. Even then, it is no guarantee that that trust is well placed.
Personally, I have lost count of the number of people who have told me they had an advisor who was looking out for their interest and they trusted, only to find out they were being had. So much for blind trust.
If you are getting a home loan first select the the loan type/term/rates/fees/options and then the lender. If you already know what you want and have selected a reputable lender, then the loan originator/loan officer becomes less of an issue. Everyone of these individuals wants to see the loan close so they can get paid. It is more important to hope that you get a competent loan processor and underwriter, along with a knowledgable appraiser but often this part is out of your control and can vary from case to case even at the same lender.
All in all, there is no guarantee that your loan process will go smoothly without a bump or two before closing. In my opinion, putting too much importance on the loan officer/originator is not warranted, if you do your homework before you enter the fray.
Unfortunately, most people spend very little time learning what they need to know and how to correctly shop and compare loan quotes before taking the plunge. Unless this changes, it will continue to be a game of faith, hope and trust instead of facts, knowledge and know-how.
The problem with making trust the single most important factor is how exactly do you define "trust"? Would you say you would trust someone who seems knowledgeable, caring and comes recommended by family and friends? Probably that would satisfy it for most people.
But hold on as there is a serious flaw to the above. A good example is we all have heard of an individual who had all these traits and was highly trusted by an arguably intelligent and sophisticated clientele. The person I speak of is none other than Bernie Madoff.
The only way you will truly ever gain trust in someone is after you have conducted business with them. Even then, it is no guarantee that that trust is well placed.
Personally, I have lost count of the number of people who have told me they had an advisor who was looking out for their interest and they trusted, only to find out they were being had. So much for blind trust.
If you are getting a home loan first select the the loan type/term/rates/fees/options and then the lender. If you already know what you want and have selected a reputable lender, then the loan originator/loan officer becomes less of an issue. Everyone of these individuals wants to see the loan close so they can get paid. It is more important to hope that you get a competent loan processor and underwriter, along with a knowledgable appraiser but often this part is out of your control and can vary from case to case even at the same lender.
All in all, there is no guarantee that your loan process will go smoothly without a bump or two before closing. In my opinion, putting too much importance on the loan officer/originator is not warranted, if you do your homework before you enter the fray.
Unfortunately, most people spend very little time learning what they need to know and how to correctly shop and compare loan quotes before taking the plunge. Unless this changes, it will continue to be a game of faith, hope and trust instead of facts, knowledge and know-how.
