A problem the mortgage industry has (one of them) is the perception that consumers have about the mortgage process.
- Reduced document loans are pretty much gone unless you want to go “hard money”. Even a “streamlined” FHA refinance is not very streamlined – it’s a “full doc” loan minus the appraisal.
- The lender offering the lowest rate does not mean your loan will close or close smoothly.
- Borrowers need to pay more attention to the knowledge, expertise and professionalism of the loan officer. This is at least equally as important as trying to find the “lowest mortgage rate” [Read more…]
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