U/W'rs are pulling their hair out trying to stay in compliance and trying to lend successfully. Some lenders have no issues, but most of the big brick and mortar lenders are too big to move quickly, too many layers of approval levels. Scared to make mistakes that could cost them big...erring on the side of caution. Then the issue of only having a skeleton crew of worker bees, unskilled, inexperienced, minimum wage mentality...oops! it's 5pm, time to go home. Can't work a minute past 5pm because they are rented employees from staffing agencies.
What a nightmare. This is why most loans today are brokered, not directly from banks, then they are sold off to these huge lenders.
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