All of the changes we have been experiencing in the mortgage industry has created a convoluted process for Consumers and this Sacramento Mortgage Gal.
The steps it takes to close a real estate transaction in 2010 is littered with hurdles, rules, and red flags! As each responsible party "tries to help" the Consumer... It just makes it worse.
You've got to jump though this hoop to get the next hoop... Which leads you to a road block that you need to work through before you can get to the finish-line... If you are lucky! In the meantime the client feels like they have been beaten up through the process.
But, I realized last week, all this mess is a good thing for our business! You see... Consumers need us more than ever!
When is the last time you heard..."My Cousin does Sacramento mortgage loans on the side while he works for the State"? Not lately... let me tell you!
Think about it...
When Cousin Lou was doing loans, he made three phones calls to get interest rates and took a verbal Sacramento mortgage application over the phone. A credit report and an appraisal was all he needed before the loan could fund and record.
Lou didn't even need to understand mortgages!
If he was good at sales or had a lot of friends he could make a fortune in "side money"!
Now there are rules and regulations for everything! You've got RESPA disclosure requirements, HVCC rules, lender overlays, cranky underwriters, funding guidelines changes, and now escrow companies who have no idea how to provide you an estimated settlement statement so you know how much money your Borrowers need to come to the table with.
All these new rules and regulations are not really helping the Borrower. The paperwork is still confusing and no matter how hard you try and reform a process... Someone will always find a way to cheat and rip off Consumers.
This over-correction in mortgage related policies has caused so much chaos, Clients are forced to work with someone who knows what they are doing!
Our Clients need us more than ever to help them navigate through this process successfully.
I find myself looking for the silver lining in all this mess. I guess a have found it!
What do you think?
Happy Hunting!
My job is to get you the best deal I can and help you navigate through our complex Sacramento Real Estate Market. My team works directly with many banks to sell their foreclosed homes... so I HAVE A LIST OF HOMES NOT YET ON THE MARKET! Interested in Sacramento HUD homes? Check out my other blog I write dedicated to Sacramento HUD Homes for sale!
Looking to buy a home? Search for homes for sale right now and register for your Free Listing Alert! Be notified when new homes come on the market!
Please contact me at my website or call me at (916) 585-3858 and let's discuss how we can work together to find your next home or investment property.
Find me online ...
