Step Ten – Update Conditions and Loan Status
Last but not least step ten, don’t’ fade on me now you are in the home stretch! Now that you have spent all the time on steps one through nine you will know exactly what you need or don’t need to ask for to make the loan a saleable product to your investor. In my career I have seen so many errors in either adding too many conditions or not adding enough to meet investor requirements. I will bet you the number one reason screwing up conditions is not following this (or another) process to complete your reviews.
Let’s wrap this guide up so going back to the example of my golf game, I know I will not improve unless I discipline myself to practice each one of the basic steps in order on the golf swing. Taking the time to do each part of the swing accurately, and in the proper sequence, will make it possible to detect issues. Focusing on those issues to over time will help you have a better swing and better game.
I hope this guide has been helpful and the insight will help you approve more loans, increase your production, and keep your quality at the A+ range…