I was required to write three blog posts a year, yes baby steps . After my first blog post last month about our dirty little secrets, I was then asked if I would post to the blog once a month on our website about my secrets. I agreed because there are so many stories to be told about what goes on behind the scenes that I feel real estate agents and consumers alike need to hear…to help me, help you, get to the closing table in a timely manner.

Just a quick background of my history in the mortgage business….

Guaranty Trust has decided I need to become a Social Media Ninja, which will not be an easy task. I am now on Facebook where I occasionally post pictures of my husband, children, grandchildren, and my two precious dogs. I post a quote I feel the world should know about ...and….. I look at my Facebook friends’ pictures of their husband, children, grandchildren and precious dogs and read a quote they feel the world should know about. I am on twitter. I look at twitter to see what amazing things my children and grandchildren are up to on a daily basis. I am on LinkedIn. At this point, I just keep linking in with people I don’t know, but I know someday I will get it, I’m just not there yet.

I was required to write three blog posts a year, yes baby steps . After my first blog post last month about our dirty little secrets, I was then asked if I would post to the blog once a month on our website about my secrets. I agreed because there are so many stories to be told about what goes on behind the scenes that I feel real estate agents and consumers alike need to hear…to help me, help you, get to the closing table in a timely manner.

Just a quick background of my history in the mortgage business. Twenty years ago, I made a decision to change my career path before I turned forty so I could spend a good twenty to thirty years in a career I felt I was called to do. It was not because I knew a thing about the mortgage business, I felt the need to help people and had friends in the business. So, I thought ....I can do that.
I met my processor, DeeDee Climer, and here we are twenty years later still working together doing what we love. When I met DeeDee she asked me did I want to be a good origanator or a great origanator and of course I said “well, that’s a no brainier, I want to be a great origanator” 

We have been at Guaranty Trust for over ten years I was awarded Outstanding producer in 2002 and 2003. From 2004 through 2010, I was awarded Top producer as well as being one of the branch mangers until April 2011. DeeDee was recognized by THDA as the best processor in the entire state of Tennessee for 2010. 
I retired in April thinking I had so much in life I wanted to do but came back in September realizing the mortgage business needed my knowledge more then my house needed my remodeling skills.
I have given you a quick history for one reason: you need to know that in over twenty years, we have accumulated many, many stories.

I will never give names, but I am doing this to share with you the shocking details of what goes on within these four walls to get each loan closed. Always by the guidelines, of course.

I don’t go to my closings. I feel it is the agent’s time to shine. With the team I have behind me, I know the HUD is correct. So, you will find me at the office working on a file waiting for the next ball to drop so we can pick it up and run with it because that is what we love to do.

Be looking next month for my little secret about a simple previous verification of employment. Yes, believe it or not, there are still some loan programs that require one.

When my processor comes to my office with a soft pulled report in her hand, my first thought is ...what did they go out and buy? A car? a refrigerator ? maybe a washer and dryer?  They all think that is a must now that they are going to be homeowners right?

Well, no, none of the above ...how about a brand new… collection!! Now that is something that gets my heart racing.

Have you ever thought about how important something as simple as a soft pull credit report can be? First, let me explain the purpose of this report. Lenders will typically pull the report 24 to 48 hours before the loan closes to make sure the borrower has not gone out and made any new purchases so, we are looking for inquiries that might affect our borrowers debt ratio.

When my processor comes to my office with a soft pulled report in her hand, my first thought is ...what did they go out and buy? A car? a refrigerator ? maybe a washer and dryer?  They all think that is a must now that they are going to be homeowners right?

Well, no, none of the above ...how about a brand new… collection!! Now that is something that gets my heart racing.

When there is a brand new collection on a soft pull report the file has to come out of the closing department a new credit report has to be pulled to see how much this collection has affected their credit score. At this point, we are just trying to stay calm.

Now the file must be run through the automated system again, get the approval, and in this case, the file must be sent back to RD. RD has to reissue a new commitment for this loan, and now, it is put back into the closing department. This loan could have easily been denied.

As agents and borrowers, your main concern at this point is when are we closing? My main concern is, is it closing!

Homebuyers are so excited during this time that I think they just don’t understand or pay attention when I stress not to let anything happen to their credit during this process. Don’t go buy anything, don’t let anyone pull your credit for any reason, and please don’t let anyone get to the point they post a collection on your report.

This loan closed on time last month and nobody knew what it took to get it there. Was that your closing? That’s our little secret.