Lender · Saddle Brook, NJ · Member since 2023 · 431 posts · 231 votes
I'm going on my first year in the industry and I've learned a plethora of strategies as well as bad habits. I wanted to see what the investing community felt about their relationships with their lending institutions.
We lenders all suck. We're terrible people. Seriously, my pet peeve in the lending community is loan officers that hold themselves out as "experts" but never take the time to really master guidelines and hone their craft. Other than that, communication up front, honesty, and disclosing everything to the borrower regardless of how distasteful you think what you are disclosing to them will be. One other thing...a quick no is much better than a long maybe. Don't try to string someone along if you really feel the deal isn't going to fly.
We lenders all suck. We're terrible people. Seriously, my pet peeve in the lending community is loan officers that hold themselves out as "experts" but never take the time to really master guidelines and hone their craft. Other than that, communication up front, honesty, and disclosing everything to the borrower regardless of how distasteful you think what you are disclosing to them will be. One other thing...a quick no is much better than a long maybe. Don't try to string someone along if you really feel the deal isn't going to fly.
We lenders all suck. We're terrible people. Seriously, my pet peeve in the lending community is loan officers that hold themselves out as "experts" but never take the time to really master guidelines and hone their craft. Other than that, communication up front, honesty, and disclosing everything to the borrower regardless of how distasteful you think what you are disclosing to them will be. One other thing...a quick no is much better than a long maybe. Don't try to string someone along if you really feel the deal isn't going to fly.
"A quick no is much better than a long maybe" I love that. So true. my biggest pet peeve...
Ample communication throughout the process. While easier said than done, the fees, costs, etc. will always exist, but the messaging is the variable and is frankly, quite important.
We lenders all suck. We're terrible people. Seriously, my pet peeve in the lending community is loan officers that hold themselves out as "experts" but never take the time to really master guidelines and hone their craft. Other than that, communication up front, honesty, and disclosing everything to the borrower regardless of how distasteful you think what you are disclosing to them will be. One other thing...a quick no is much better than a long maybe. Don't try to string someone along if you really feel the deal isn't going to fly.
"A quick no is much better than a long maybe"
I will 100% be stealing that line, Doug.
Being proactive and unafraid to have the difficult conversations upfront saves a lot of time and stress throughout the loan process for everyone involved.