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If you talk to a loan officer, he (or she) will probably
say the lender they work for is "the best" and
give you a list of reasons why. If you meet the same
loan officer years later and he works for a different kind
of lender, he will give you a list of reasons why that type
of lender is better.
Realtors have differing opinions and, as a group, their
opinions have changed over time. In the past, most would
often recommend portfolio lenders - because they almost always
closed the deal. As time passed, mortgage bankers and
mortgage brokers became more important, and agents switched
along with the changing times.
Most often a Realtor will direct you to a specific loan
officer who has demonstrated a track record of service and
reliability -- or a loan officer who works for a lender affiliated
with their real estate office.
It is often more important to choose
a good loan officer,
not the institution. Loan officers have two jobs. One
is to be your advocate in getting the loan approved. The
other is to deliver quality loans. You want someone
who has proven dependable and ethical in the past -- someone
you can trust.
As for lending institutions, each type of lender has strengths
and weaknesses. Quality within each branch or office
can vary, depending on the loan officer, the support staff,
and a variety of other factors.
 Portfolio
Lenders - Banks and Savings & Loans
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to Home Selling Articles and Advice
copyright 2000 by Terry Light and
RealEstate ABC
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