{"id":9444,"date":"2009-08-04T12:20:13","date_gmt":"2009-08-04T19:20:13","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=9444"},"modified":"2009-08-03T19:25:45","modified_gmt":"2009-08-04T02:25:45","slug":"should-realtors-interview-lenders","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9444\/should-realtors-interview-lenders\/","title":{"rendered":"Should Realtors “Interview” Lenders?"},"content":{"rendered":"

I got what I thought was a very interesting and thoughtful e-mail last week from Jessica Horton<\/a>, a Realtor down in Georgia, who I\u2019ve gotten to know.\u00a0\u00a0 She and I have chatted a bit both online and over the phone about the markets, the dynamics of today\u2019s lending rules and the ins and outs of structuring deals.\u00a0\u00a0 Oh, and we are both authors on the Bloodhound Blog<\/a>.<\/p>\n

I\u2019ve taken Jessica\u2019s e-mail and my response and turned them into a post.\u00a0\u00a0\u00a0 I\u2019ve eliminated a few minor conversational tidbits but I\u2019ve left the majority of our e-mail conversation intact.<\/p>\n

Why am I reposting this?<\/p>\n

For three main reasons:<\/p>\n

    \n
  1. I\u2019ve been in the mortgage business for 21 years now and I have never seen as challenging of an environment as we have now.\u00a0\u00a0 Yeah, we\u2019ve had ups and downs and economic slow times, but a combination of falling property values, rising unemployment and tightening underwriting guidelines have made this the most challenging market I\u2019ve ever been in.<\/li>\n
  2. The days of assuming that any lender can get a loan done and that anyone can get a mortgage are over and they aren\u2019t coming back any time soon.<\/li>\n
  3. I found it very refreshing that a Realtor is taking a good hard look at who they want to recommend to their clients and not looking at it only from the standpoint of \u201cwho\u2019s going to buy me lunch.\u201d<\/li>\n<\/ol>\n

    I found it very refreshing that Jessica was talking to a number (I don\u2019t know how many) lenders and was attempting to understand better how they work and what their processes and procedures are for making sure that things go smoothly.\u00a0\u00a0\u00a0 With the HVCC and the new MDIA and the pending changes from Fannie Mae and Freddie Mac, the rate a lender offers will always be important, but their ability to get things done is more important than it has ever been.<\/p>\n

    Take a few minutes and read through the exchange.\u00a0\u00a0 Jessica\u2019s questions are in \u201cnormal\u201d print and my answers are in bold and italics.<\/p>\n

    Tom<\/p>\n

    Jessica,<\/p>\n

    See below.\u00a0\u00a0 Thanks for giving me this opportunity.<\/p>\n

    Tom Vanderwell<\/p>\n

    \n

    From:<\/strong> Jessica Wynn Horton [mailto:jessicahorton30292@gmail.com]
    \nSent:<\/strong> Wednesday, July 29, 2009 1:58 PM
    \nTo:<\/strong> Tom Vanderwell at Straight     Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    I got what I thought was a very interesting and thoughtful e-mail last week from Jessica Horton, a Realtor down in Georgia, who I\u2019ve gotten to know.\u00a0\u00a0 She and I have chatted a bit both online and over the phone about the markets, the dynamics of today\u2019s lending rules and the ins and outs of […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[62,2,29,26],"tags":[385,132,263],"class_list":{"0":"post-9444","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-dirty-laundry","7":"category-general","8":"category-group-therapy","9":"category-lending","10":"tag-jessica-horton","11":"tag-lenders","12":"tag-tom-vanderwell","14":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":9510,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9510\/i%e2%80%99ve-got-friends-in-loan-places%e2%80%a6\/","url_meta":{"origin":9444,"position":0},"title":"I\u2019ve got friends in Loan Places\u2026","author":"Jessica Horton","date":"August 14, 2009","format":false,"excerpt":"Radio Announcer: Don\u2019t touch that dial! It\u2019s time for crying, loving or leaving. And this first song has it all! It\u2019s Jessica Horton with her debut song, \u201cI\u2019ve Got Friends in Loan Places\u201d from the album: \u201cIf Tomorrow\u2019s Closing Never Comes (The thunder is gonna roll!)\u201d. Blame it all on\u2026","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3857,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3857\/introducing-jessica-wynn-horton-a-once-and-future-mega-producer\/","url_meta":{"origin":9444,"position":1},"title":"Introducing Jessica Wynn Horton, a once and future mega-producer","author":"Greg Swann","date":"August 12, 2008","format":false,"excerpt":"What do you do when you're selling a thick slice of a billion dollars' worth of real estate every year, when you've built your own RE\/Max franchise from scratch, when you've hit the \"30 Under 30\" target at Realtor magazine? Start over in another town, of course, and do it\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5277,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5277\/all-these-widgets-idjits-digits-and-midgets-are-making-me-fidget\/","url_meta":{"origin":9444,"position":2},"title":"All these Widgets, Idjits, Digits and Midgets are making me fidget.","author":"Jessica Horton","date":"October 29, 2008","format":false,"excerpt":"Every web 2.0 Realtor\u00ae that is any web 2.0 Realtor\u00ae has at least one or more widgets up and running on their preferred social networking sites. Some Realtors\u00ae collect widgets like my son collects insects\u2014strange little trapped creatures placed proudly on display\u2014creatures that I don\u2019t want coming anywhere near me!\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3874,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3874\/a-proposal-to-improve-mortgage-lending\/","url_meta":{"origin":9444,"position":3},"title":"A Proposal to Improve Mortgage Lending….","author":"Tom Vanderwell","date":"August 13, 2008","format":false,"excerpt":"Since there are a variety of licensing, regulation, education, criminal background check proposals bouncing around in an effort to clean up the mortgage world, I thought I'd throw out my own proposal on how to improve mortgage lending. I'm proposing that as part of the training for becoming a mortgage\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6962,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6962\/max-vs-the-1000-pound-gorilla\/","url_meta":{"origin":9444,"position":4},"title":"Max vs. The 1000-Pound Gorilla","author":"Jessica Horton","date":"February 19, 2009","format":false,"excerpt":"Meet Max. He\u2019s the cute little mascot for Homegain.com Meet The 1000-Pound Gorilla (Hint: It ain't really move.com Those are really fists, codename: Thunder and Lightning) This is Max telling me about the advantages of Homegain.com over on my Active Rain blog. (about the fourth comment down: Louis Cammarosano) This\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/blog.homegain.com\/wp-content\/uploads\/2008\/09\/max-tar-texas-expo.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13686,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13686\/for-all-you-georgia-warhorses-out-there\/","url_meta":{"origin":9444,"position":5},"title":"For All You Georgia Warhorses Out There…","author":"Jessica Horton","date":"November 19, 2010","format":false,"excerpt":"This is probably a bit too swampy for the Valley of the Sun, but I really enjoy JJ's backwater juke joint sound. A Tribute to those who get the job done and refuse to die: My shell is hard, my hooks like steel My wings are fire and you cannot\u2026","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/9444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=9444"}],"version-history":[{"count":3,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/9444\/revisions"}],"predecessor-version":[{"id":9447,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/9444\/revisions\/9447"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=9444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=9444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=9444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}