THE PERFECT LOAN with Mandy Roderick
Mandy Roderick/The Roderick Team
Nova Home Loans
24 S. Weber St. Ste #100
Colorado springs, Co 80903
THE PERFECT LOAN
Wow, what a crazy whirlwind of changes we’ve seen in the past 10 years of real estate! We’ve gone from anyone and everyone qualifying for a mortgage, (2002-2006) to a foreclosure disaster, then back to tightened guidelines where it feels like no one can qualify. Well, the latter isn’t really true…
Contrary to what may feel like popular belief, lenders are still lending money. We are still doing loans, and at record volume! With real estate values on the rise, more and more people are able to sell their homes and buy again. What people do still complain about is the lending process. It can be tedious, trying and down right painful. Here’s the caveat… it doesn’t have to be.
If people are fully prepared before they begin the mortgage process, I promise, the loan will go at least 80% smoother. The majority of the struggle during the loan process is pushback. We continually get “Why do you need that?” or “That really isn’t any of your business.” I promise, we hate asking for these documents too. Given the history of the mortgage industry, you’d hope people would understand why we have to be a little more diligent when we underwrite a loan. We have to make sure the borrower can, in fact, repay this loan. We have to make sure they do, in fact, work where they said they work. We have to make sure they have the money in their bank account, they say they have in their bank account. (And oh yeah, we’ll also need to see where that money came from.)
There’s no disputing it… the loan process can be hard. The best thing a realtor can do to help their clients have a smoother transaction, is to prepare them. Read the article below. It sums up this concept perfectly! If the client knows the lender will come back multiple times asking for things, they don’t get upset. If the client knows the urgency of getting documents to us, then we don’t lose time on the contract, and closings aren’t delayed. Yes, it is absolutely the loan officer’s responsibility to set the proper expectation with clients. It absolutely helps when the realtor and loan officer are a united front. Then the client knows what to expect, plans for it, and acts accordingly. Everyone shows up at closing with a happy face and a good experience to rave about.
I swear, there are still loans happening today- where the client closes and says “Wow- that was the easiest thing I’ve ever done!” It CAN happen. Here’s to the next “perfect” transaction!
Meet Mandy Roderick
Mandy has nearly 15 years’ experience in the mortgage industry, and has been with NOVA for the past 5 years. Mandy offers her expertise and guidance to help her clients reach the goal of home ownership despite a tumultuous real estate market. She believes in constant communication, so the client and/or real estate agents are all aware of the loan status as they reach milestones along the way. Combined with Nova Home Loans’ wide variety of mortgage products, low competitive pricing, in-house underwriting and support team, clients receive the best value in a mortgage transaction anywhere.
Mandy was born and raised in Idaho and earned a bachelor’s degree from Utah State University. After working in Washington DC, she moved to Colorado Springs and started originating loans in 2002. Mandy believes in the concept that every client is a client for life. She wants you to remember the experience as a pleasant one, and won’t forget you the minute you sign your closing docs.