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Lenders want to close fast ....
Posted by BobbiCT of CT on 7/15/19 7:01am Msg #608412
Because there's a possibility interest rates may fall a tad in the future. Resulting in aggressive loan officers convincing homeowners to refinance again for a lower monthly payment.

If lender's income etc. is based on percentages, and/or your commitment is "at X% rate or the lowest interest rate within at the time you close," and/or lenders want to sell your loan at the highest profit margin .... CLOSE the loans in the pipeline now while we can still sell them at $X. There's more to it than that, but basically in a falling interest rate environment it's best to close loans fast before customers run to a "better offer by another lender" or you are stuck shelving your closed loans because they are selling at a loss or not at all on the secondary market.
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Messages in this Thread
 A strange thing happened Friday 7/12 -  Erwin/CA on 7/13/19 8:43pm
 Re: A strange thing happened Friday 7/12 -  Cheryl Elliott on 7/14/19 9:28am
 Re: A strange thing happened Friday 7/12 - Luckydog on 7/14/19 10:55am
 Re: A strange thing happened Friday 7/12 - SteveS/CA on 7/14/19 11:21am
 Re: A strange thing happened Friday 7/12 -  JanetK_CA on 7/14/19 2:45pm
 Re: A strange thing happened Friday 7/12 - SteveS/CA on 7/14/19 7:59pm
 4-5-6 closings a day can be done - Alz on 7/14/19 10:04pm
 Did 4 in 1 day only 1 time in 25 yrs. - Lee/AR on 7/14/19 12:36pm
 some lenders pay based on - notarydi/CA on 7/14/19 12:45pm
 These low interest rates have brought about a flurry of -  MW/VA on 7/14/19 3:21pm
 Lenders want to close fast .... - BobbiCT on 7/15/19 7:01am
 Re: Lenders want to close fast .... - Luckydog on 7/15/19 9:58am
 Re: Lenders want to close fast .... - pdl/cali on 7/15/19 2:10pm
 Re: A strange thing happened Friday 7/12 - DMC/Oregon on 7/16/19 12:10pm



 
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