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Buyers: Will Your Lender be There at Closing?

In recent weeks we’ve seen several mortgage lenders close their doors and others dramatically scale back their loan products, tighten their underwriting standards, and stop funding some closings entirely.  In this market it is especially important that you know who the underlying lender is for the loan.  While your loan officer may still be in business, many mortgage brokers do not fund the loans themselves but rather by lenders like Countrywide.

It is important to know who is funding your loan and to keep in touch with your loan officer to verify that everything is still ok.

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Disclaimer

TwinCitiesRealEstateBlog.com is not a Multiple Listing Service MLS, nor does it offer MLS access.
This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.