Mortgage Loan Officer Safety Slogans
1- It's imperative to get the good faith estimate as soon as possible.
2- There are numerous ways to pad those unsafe numbers.
3- If the origination fee is too high, lower it and make large document preparation fees.
4- Always throw in some new fees at closing, but not enough to lose the deal.
5- You don't have to explain your fees to anyone because, "YOU are a mortgage officer."
6- People can sign the mortgage paperwork, but that doesn't mean the loan has to be done.
7- I could lock in your rate, but I would rather wait and lock it in when I can get myself a maximum commission.
8- The numbers you see at settlement are really only half of it as the mortgage brokers make money off the backend as well.
9- It always makes perfect sense that you need to pay ten grand for someone to fill out some papers for you.
10- Mortgage officers need to be paid well because they have to spend like three months trying to ship your papers to the bank.
11- For your own safety, get at least three good faith estimates and don't pay more at closing.
12- For your own safety, go through ten loan officers and only sign the paperwork with the one that follows through with the best deal.
13- Bait and switch means wait six months for the loan to be done and then charge ten times more at closing because it just had to be done.
14- The safe way to deal with difficult customers that want a good deal is to make them wait a long time, re-submit the paperwork every few weeks, and close at the height of their frustration with some extra fees.
15- It's always unsafe to change the loan terms asked for, but people still sign the paperwork and line your pockets.
16- I can qualify you for the moon and deliver you a shack to live there.
17- Never sign the blank loan disclosures or sue the customer that you had sign them.
18- DON'T EVER let the loan officer pick the title company as this is the cause of much fraudulent activity.
19- Don't worry, if you don't qualify, I'll have my accountant draw up some paperwork for your new business activities.
20- Any fee can be marked up and that's the safety of the good faith fees.
21- The industry isn't honest, but they think they are.
22- Never walk away from your mortgage unless the value of your home goes down.
23- The mortgage company was so concerned about my flood insurance that they forced it on my at super high rates. So, I forced them to repay my house that went down in value.
24- It's hard to feel bad for large corporations that have no interest in helping you in any way.
25- If the loan officer asks you to re-submit paperwork, the safest thing to do is walk away.