Potential borrowers eager to find lenders with superior service
A poll by Carlisle & Gallagher Consulting Group found that more than a third of potential borrowers would be willing to pay a higher rate if the mortgage came with superior service. The survey didn’t say how much more the 34 percent were willing to pay, but it did find that this group is a frustrated bunch.
A starting point for borrowers is to ask their real estate agent which lenders offer the best service. Agents know which lenders keep their promises and close quickly without incident. Another option is to ask friends, co-workers, and relatives about their experiences.
Beyond that, prospective borrowers should look for several attributes that will help them find a responsible company or accessible loan officer.
Borrowers should look for a consistent point of contact. Federal regulators have already settled on this as a requirement for loan servicers – the companies that collect payments, disburse funds to cover property taxes, and homowners insurance and otherwise administer loans.
More on this in this article by Lew Sichelman of the Los Angeles Times
A non-profit worthy of interest: CSA
Collection of food & various items for CSA are made in my office at:
161 S. San Antonio Rd.
Los Altos, CA 94022