Posted by Cherilyn in CO on 6/14/05 10:08am
Msg #44518
Loan signings directly from Lenders...
Have you found that they really require way more than your average SS signing? I had one last night that the LO wanted me to sell his loan to these people! They were not expecting a 5 year interest only product, at all. The LO gets on the phone with me "And says, come on! You've done enough of these! Explain it to them."
I don't want to explain it to them. I'm not there to explain the terms of an interest only loan to them, am I?
Do any of you explain how the loans (in general) work? Or is that UPL?
He wanted me to do it because these people trusted me. This was my 3rd trip out and they requested me as they felt very comfortable. They really wanted my advice too, which of course I didn't give.
I wanted to tell the LO "Hell, I wouldn't sign this loan, how am I supposed to make them?" and it was a purchase, so no RTC.
Sometimes, even though lender loans are the big $, I just wish for the easy SS HELOCs.
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