lenders

You need a good loan officer at a good company

June 9, 2010 By Dean Ouellette Leave a Comment

I talk a lot about having a good lender. Someone who has in house underwriting and in house docs so they can get deals done quick. But when one of my lenders recently left a company like that for another company like that I realized that a good company is not all you need.

We had a deal in the works and that deal stayed there after he left for his new office. I was used to getting deals done in two weeks with this company, but now dealing with a new loan officer it is taking longer. Not only is it taking longer but I cannot get him to return emails or phone calls unless i keep sending them.

So lesson learned, not only do you need a good company, you need a good loan officer at that company.

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Filed Under: blog, Video Tagged With: lenders, loan officers, shane hollenback

Another good ole’ lender bait and switch

May 17, 2010 By Dean Ouellette Leave a Comment

Do lenders really do the bait and switch?

Are you sick of hearing me rant about using a lender that your agent recommends yet? Well you should be, I cannot remember the last time someone used a lender that was not one of my preferred lenders and the deal closed on time.

Know what is worse, when it does not close on time and the rate you end up with is higher than what you expected. Yes it does happen.

If you have any other questions you can leave a comment below or email Dean Ouellette.

Filed Under: blog, Video Tagged With: bait and switch, lenders

Lenders matter now as much if not more than ever

May 6, 2010 By Dean Ouellette 1 Comment

Your lender matters, make sure you have a good lender.

Who you use for a lender can often be the difference between a smooth transaction and a nightmare that cost you hundreds or dollars and could even prevent you from getting the home of your dreams.

If you have any other questions you can leave a comment below or email Dean Ouellette.

Filed Under: blog, Video Tagged With: lenders, Mortgage

Phoenix Real Estate FAQ: But I’m already prequalified, leave me alone

April 20, 2010 By Dean Ouellette Leave a Comment

I am already prequalified with my lender, why do I need to do the same with the seller?

In today’s Phoenix Real Estate FAQ Kristin LaVanway and Dean Ouellette discuss why some sellers require a buyer to be approved by the seller when they already have their own prequalification from their lender of choice. The reason the seller, usually a bank in a foreclosure, requires it is because there are many LSR’s (prequal letter) that are not worth the paper they are written on. But if they were honest with you they would tell you the real reason they want a prequal with them too is they want your business. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.

Filed Under: blog, FAQ, Video Tagged With: Kristin LaVanway, lenders, LSR, preapproval, prequalify

Lenders make a difference: Shane Hollenback helps save dying deal

April 1, 2010 By Dean Ouellette 4 Comments

Video 106: As you have heard me say in the past, the lender is the most important part of a transaction. A bad lender can absolutely kill a deal while a great lender will get the deal done, get it done early and it will be so smooth that you never even know they are there. Recently I was working with a buyer who had his own lender, one of the big box banks. After two months they were still unable to close the loan because of their internal bureaucracy. I happened to be having lunch with Shane Hollenback of the Veracity Team and told him about the file. He took a look at it and said there was no reason this loan should not be completed in two weeks. The seller was getting ready to walk from the deal and we were able to convince them with Shane’s reassurance the deal would be done in two weeks if we could switch lender. That is exactly what we did, and that is what happened, two weeks later the frustrated buyer was a new home owner. The lender makes all the difference in the world that is why there are three lenders I work with that I recommend buyers talk to, and Shane and his team is one of those lenders. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.

Filed Under: blog, Video Tagged With: lenders, prime lending, shane hollenback, veracity team

Phoenix Real Estate FAQs for 3/19/2010

March 23, 2010 By Dean Ouellette 1 Comment

In this episode of Phoenix Real Estate FAQ’s Kristin LaVanway and Tempe Real Estate" href="http://deansellsaz.com" target="_blank">Dean Ouellette answer the questions
What did you learn from your most recent real estate transaction?
What do you do when nature calls when showing houses?
Will the Phoenix housing market rebound before the world ends in 2012?
Why do I need to get prequalifed for a loan?

Filed Under: blog, Video Tagged With: lenders, Phoenix Real Estate, preapproved for loan, Prequalification

Top 10 real estate posts of the day for 12/2/2009

December 2, 2009 By Dean Ouellette Leave a Comment

1) Anatomy of a government-abated fraud: Why Indymac/OneWest always forecloses – WOW… As someone who has recently been working on a short sale with Indymac this actually explains a lot!

2) Keys to Short Sale Success – A short but very informative post on the keys to a successful short sale.

3) Project WordPress: Preferred Plugins – You a WordPress blogging Realtor? Then you will want to check this out for some great plugin suggestions. I even learned about a few that I will be trying.

4) New real estate settlement HUD-1 on the way – Good news for home buyers and sellers, starting January 1 the new HUD statement is going to make things much clearer and protect you more.

5) Grey is Every Theory, Green is the Tree of Life – Proof you can never please everyone. Other things to consider with Case-Shiller is the numbers give a good review of the national housing market, but when it comes to buying or selling your house all real estate is local.

6) Do Cute E-Cards Really Work? – If the e-cards are successful and more people turn to them, then will they become less successful as our inboxes get full?

7) Five Ways to Use GeoMeme For Your Real Estate Business – Do you consider yourself a Realtor 2.0 type? Have you got comfortable with the word “Geo” yet? If not you may end up being behind the curve in the web 3.0 world coming next year.

8) Lend America Slapped by FHA, Closes Their Doors – As Justin McHood has been predicting for a while, another independent mortgage originator down the drain.

9) “Productizing” the Realtor mind – As always Brian Boero nails it on the head, accurate automated housing values, if can be made accurate that is, are bad news for Realtors.

10) Some Predict Recovery With News of Rising Pending Home Sales – Pending sales up 9 months in row, can it really continue in 2010?

Filed Under: blog, Top Posts Tagged With: FHA, housing market, IndyMac, lenders, Real Estate Technology, short sales

The importance of having a good lender

September 17, 2009 By Dean Ouellette Leave a Comment

The cheapest lender is not always the best deal. It is important that when looking for a lender make sure you are using someone who can get the deal closed, and on time. One of the lenders I use is Justin McHood of the Arizona Mortgage Team, who can be reached at 480-374-0303. Just because it is your local bank, or a friend of a friend does not mean the lender will go out of their way to make your deal happen. That is why I would recommend you ask your real estate agent for some names, as they know the people they have worked with in the past who get deals done. And no, we make no money at all off the referral. This is not the place to skimp and save a few bucks. As always you can email me.

Filed Under: Video Tagged With: Arizona Mortgage Team, Justin McHood, lenders, mortgage brokers, Regatta Pionte Condos