Loan Officer

Loan officers analyze creditworthiness of loan applicants and approve or deny loans. This job generally requires more education and training or experience than a mere loan clerk and also pays a higher salary.

When I would describe a real estate transaction to friends, clients or family, my favorite analogy to use was that of a real estate race. Despite the jargon and terminology, this is the best way to understand the mechanics of a real estate transaction.

The 2008 SAFE Act and the NLMS registry is designed to protect homeowners seeking to obtain a mortgage that loan officers are in compliance.

Floating a lien is a financial gamble that many people choose when buying a home.

Steps to obtaining a business loan from a local community bank. Building a strong relationship with your bank is critical in obtaining funds to keep your business operating.

Numerous borrowers make the mistake of not considering the person behind the loan officer title. Their personality type can be affect how much you pay, the difficulty of your loan process, and if the loan will close or not.

As a borrower, you may not like to read what I've written about how loan officers sometimes work. Certain tactics are used to get a loan closed on time and the intentions are well meaning, but technically speaking what goes on can be defined as "fraud."

A sure-fire way to know if you are being ripped off or not. Here are 5 things you need to know and always wanted to know about your mortgage.

As a former loan officer and manager in the home financing department of a major regional bank, I am asked all the time to provide some of my most frequently asked questions as advice when looking for a mortgage. Feel free to use this advice for yourself, friends and family.

This article includes excerpts from an interview with a senior loan officer at a major mortgage company in Schaumburg, Illinois.

While subprime is the term used for loans issued to people with poor credit, The subprime mortgage market gave unscrupulous loan officers the best chance to make millions from these hapless borrowers.

Many people believe that once they've been rejected for a loan it is over, and they will never have a chance of getting a loan. This is not always the case. Persistence and assertiveness are key to getting your loan approved.

How to get the lowest cost mortgage at the best rate

Several basic steps that are taken when applying and getting approved for a loan and what a loan officer looks for before he approves a loan.

The financial reform bill signed in July purports to protect consumers from risky loans and unscrupulous lenders. Its real result will be decreased loan availability, higher borrower costs and continued lender confusion.

A grant for a down payment on a home comes with qualification requirements but it does not have to be paid back.

Americans make money so that they can almost instantly spend it. In fact, they even spend money they don't yet possess. Indians like to hang on to money, to build it up into a nice little pile.

Prepayment penalties are assessed to loans by lenders, when a borrower decides to payoff the loan balance prior to the agreed upon maturity date. A lot of borrowers do not realize they have prepayment penalties within their contracts.

A step by step guide that will possibly help you when you are buying a home.

Buying and selling a home can have lots of headaches to it. Here are some things me and my wife went through when we bought our first home. Hopefully by reading it you will learn something and not make the same mistakes I did.

Buying your first home can be a daunting task. As a matter of fact, anytime you buy a home it can be overwhelming when you consider all of the variables that can come into play.

Obtaining a mortgage is not easy today, considering all the paper work, red tape and time involved.

You want to get some idea on what your options are before you go talk to a professional?

The folly of man and his financial woes. Working for less than minimum wage, hoping to score it big. Hard to sell when the banks shut you out of the inventory but is the average mortgage broker to blame?

With at least six million ARM (adjustable rate mortgages) scheduled to reset in the next four years, consumers are all too eager to be saved. For mortgage brokers and loan officers, there's no better time to be a hero.

When you go see a loan officer to get a personal or business loan, what do you suppose they are evaluating you on? You may think it's just your credit history from the Bureau, but in actuality credit analysis is a very in-depth process.

Most of the confusion with loan servicing is a direct result of misunderstanding home loan terms at closing. The following tips will help you to understand your home loan, and protect your investment.