Lending is not what it used to be.  Most Loan Officers/Mortgage Bankers or Brokers who have been in the business for 10 or more years would undoubtedly agree with me.  Thanks to extreme guidelines that allowed for some really easy qualifying, people that maybe shouldn’t have qualified did.  When the inevitable happened (inevitable, however only a very few ever saw it coming), the nation’s financial stability was put in jeopardy.
 
So what does this brief history lesson have to do with today’s buyer?  I mean, let’s be honest, all that today’s buyer cares about is, well, today right? 

With that being said what the lending world is today is a far cry from what it was just a few years ago.  The guidelines that we must follow these days have gone from very “loose” to very “tight”.  I like to call it “elastic underwriting” meaning that as the guidelines were “stretched out”, the result has been a “rebound” that has gone back beyond where they were even before the extreme loosening. 

So to today’s buyer, this makes it so much more important to work with someone who is knowledgeable as to what is going on in the lending world.  This not only means your lender but your Realtor should have a good working knowledge of the mortgage world as well. Make sure you are working with a Realtor that has a good relationship with a lender who can help guide you through the ever changing tides of the mortgage world. Next time, we will get into the specifics of these changes.   See you then!

Chad Stallings

MORTGAGE BANKER

BNC NATIONAL BANK
8330 E. Hartford Drive, Suite 101 
Scottsdale, AZ  ostalCode w:st="on">85255ostalCode>

Direct - 602-292-0415

www.loanbychad.com