The lender’s parent, LD Holdings LLC, said it is working on a service to connect pre-approved borrowers with local real estate agents. that provides a fully digitized mortgage loan application, and.
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· Following closing, the agent’s job is to record the deed and mortgage with the appropriate courthouse. The original deed is then returned to the new real-estate owner while the original mortgage documents are returned to the lender. She then prepares the title policies for both the new owner and the lender.
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I’ve also heard people say that 10% of Realtors do 90% of the business. It would be interesting to hear what the ratio would be for Loan Officers. Anybody have any opinion or commentary on this subject ? Also, has anyone ever gone from selling residential real estate, to selling commercial real estate ? What are the major differences ?
Both have their pros and cons. Mortgage brokers may have a better variety of investors and rates (although most loan officers of correspondent lenders do too nowdays). The plus side of using a loan officer versus a mortgage broker is that they typically have in-house underwriting, so in theory (ymmv) obstacles should be able to be dealt with quickly and more efficiently at that level.
It is far easier for good loan officers to become good real estate than vice versa. It takes more volume than most agents do in order to really learn how to do loans, but real estate is a low volume game in the first place. 25 properties per year is a lot for an agent, but 25 loans per year is nothing for a loan officer.
“It’s a numbers game and that’s what frustrates most loan officers.” Tim Linger, broker and owner of hecm senior home Financing in Orlando, Fla., agreed, saying that real estate agents are still.
Loan Officer Vs. Real Estate Agent. What is a loan officer and how does their work compare to being a real estate agent? Continue reading to explore these careers, the typical duties loan officers.
This license endorsement is required for any real estate salesperson who is employed by a licensed broker or corporation that, for compensation or gain, or in the expectation of compensation or gain, directly or indirectly accepts or offers to accept an application for a mortgage loan, solicits or offers to solicit a mortgage loan on behalf of.