Authorify - Mortgage Lenders (Agent) Preview

stutter, stammer, and not know what to say. Once the lender realizes that you know how the game works, the jig is up. They are left with no choice but to come clean and tell you exactly how things are really going. Maybe you’ll discover that the loan really is on track. Maybe you’ll discover that things are a complete mess. But either way, you’ll get the real answer and not just a patronizing brush-off. If you know the road, you can’t be sent down the wrong one. If you know the scam, you can’t be scammed. With knowledge, you can’t be misled. Ask the lender, “What step are we on? What is left undone? Where are we at? What does ‘on track’ mean?” However, there’s no point in asking those questions if you don’t know what the answers mean. If the lender responds with a bunch of industry acronyms and lender jargon that is foreign to you, their answers simply won’t make sense. In this case, it’s not enough to simply demand more details if the details are simply gobbledygook as far as you’re concerned. The next chapter is going to delve into how the loan process works so you can understand the different steps and moving parts. That way, when you’re talking or dealing with lenders as the listing agent or as the buyer’s agent, the lender will see that you are knowledgeable in the details and know what you’re talking about. If they see that you know your stuff, they are not going to make up stories to cover shoddy work. They will be more apt to give you honest answers and tell you exactly what’s happening with the loan.

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