No. Receipt of the Good Faith Estimate is the first step in selecting a lender. The question on the table right now is - are YOU satisfied with the terms offered by the mortgage lender?
Your job right now is to speak with a few lenders and compare Good Faith Estimates. Lenders cannot charge you for that pre-approval or Good Faith Estimate so move fast, make your decision - choose a lender.
Tuesday, April 6, 2010
query: I have been pre-approved and have received a Good Faith Estimate, does that mean I am approved?
No. Receipt of the Good Faith Estimate is the first step in selecting a lender. The question on the table right now is - are YOU satisfied with the terms offered by the mortgage lender?
Your job right now is to speak with a few lenders and compare Good Faith Estimates. Lenders cannot charge you for that pre-approval or Good Faith Estimate so move fast, make your decision - choose a lender.
Your job right now is to speak with a few lenders and compare Good Faith Estimates. Lenders cannot charge you for that pre-approval or Good Faith Estimate so move fast, make your decision - choose a lender.
Saturday, April 3, 2010
on the PA Data Call
It just hit me. The reason PLTA and members are outraged over the PA Data Call is that they don't keep good records. DUH! That means they don't keep track of cancelled transactions and that HAS to be why they aren't outraged about the loss of thousands and thousands of dollars.
HEY TITLE AGENTS!!! Start a spreadsheet for dead deals. Live and learn, baby. Start counting the thousands -
HEY TITLE AGENTS!!! Start a spreadsheet for dead deals. Live and learn, baby. Start counting the thousands -
on the PA Data Call
It just hit me. The reason PLTA and members are outraged over the PA Data Call is that they don't keep good records. DUH! That means they don't keep track of cancelled transactions and that HAS to be why they aren't outraged about the loss of thousands and thousands of dollars.
HEY TITLE AGENTS!!! Start a spreadsheet for dead deals. Live and learn, baby. Start counting the thousands -
HEY TITLE AGENTS!!! Start a spreadsheet for dead deals. Live and learn, baby. Start counting the thousands -
wasted money and manhours
If PLTA and the various commenting members would get as outraged over wasted money and manhours spent processing cancelled title transactions as they got over the PA Data Call, we'd make some headway.
I'll likely go to my grave still wondering why our industry places little or no value on its prime work product. I am proud of our work. It has value. I kills me to be forced to give it away in
I'll likely go to my grave still wondering why our industry places little or no value on its prime work product. I am proud of our work. It has value. I kills me to be forced to give it away in
wasted money and manhours
If PLTA and the various commenting members would get as outraged over wasted money and manhours spent processing cancelled title transactions as they got over the PA Data Call, we'd make some headway.
I'll likely go to my grave still wondering why our industry places little or no value on its prime work product. I am proud of our work. It has value. I kills me to be forced to give it away in
I'll likely go to my grave still wondering why our industry places little or no value on its prime work product. I am proud of our work. It has value. I kills me to be forced to give it away in
Friday, April 2, 2010
Well, I am impressed.
Anne Anastasi did call back after receiving my message concerning cancellation fees. She noted that we do have a specific statute in Pennsylvania and wondered how we could address this nationally. Here's our PA rule: § 125.2. Charges required for title reports and others. (a) The issuance without charge of a title report, commitment to insure, guaranteed general search, information
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