• Mitch Lubin

Current Trends in the Mortgage Industry

Unfortunately, the main concept of the mortgage process “to obtain a mortgage is not the same as to buy apples on the farmers market” is misunderstood and neglected not just by public, but many real estate professionals as well. Because of complexity of the matter for many people the terms – loan approval and closing remain a mysterious subject. I might exaggerate a bit here, but it is very common in mortgage industry to play the guess games about loan approvals and closings at the time of loan application. One game by loan applicant – “Can I get it, or not?” or “Can you do it, or not?’, and on the other end the second game by loan officer, experienced one – “We will try, I can’t guarantee it “, not experienced – “Sure, we’ll do”.

Despite the fact that in compliance with governmental regulations enacted after 2007 Mortgage Chaos, banks and reputable mortgage companies are trying their best to educate consumer about mortgages and refrain themselves from any misleading advertisements, you still can find on the market statements such as “Loan Pre-Qualification is easy as 1-2-3”, or “We make loans easy”. These statements are illegal and without notifications that “not everyone can be eligible for financing, you have to qualify to obtain your mortgage” causing another chaos in the minds of their potential clients.

At CalSun Mortgage we know how to make our clients happy instead of keeping clients in limbo for a few weeks without any answer. According to our mission and because of our expertise and ability to analyze and underwrite loan applications we have a certain advantage to control our funding sources and prevent unnecessary complications, obstacles and delays in the course of loan approval and closing.

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