The article below is being picked up across the nation. I think it represents a excellent opportunity for good mortgage brokers to set themselves apart. Using automated underwriting systems, building a credit approval for a potential borrower is fast and easy. Good brokers can beat out bad ones with this simply investment of resources. Good brokers can also beat out Internet based companies by providing the personal touch of making sure the information provided by the borrower is accurate before technology takes over.
“A new national research study says that too many home buyers are kidding themselves — and home sellers — about a crucial step in the mortgage process: Growing numbers of buyers are walking around with pre-approval financing letters that aren’t worth the paper they’re printed on. “
Full Story from the LA Times
Mortgage Industry Professionals. Like what you see?
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