I have been getting a lot of inquiries from Realtors lately asking me how I always manage to avoid the unnecessary delays after the implementation of Regulation Z, so I figure I’d write a quickie on streamlining the processes and getting everyone to closing on time.
Couple of things we do differently than other lenders:
- I always re disclose GFE and TIL as soon as we get Underwriting Approval Back. At this point, we have already requested and received a preliminary HUD with exact title fees.
- We have a compliance department set in place to specifically check for an variances above the .125% tolerance.
- I let all clients know ahead of time that we are going to re disclose at this specific time so there are no surprises.
You will find a lot of mortgage companies/lender/banks (I REALLY wish I could name some) that pop up with 11th hour delays.
There’s 2 reasons I do what I do.
A. To make the client happy
B. To NOT to be the person that makes “the phone call” telling everyone we will have to wait another week before closing
With the new 2009 RESPA rules (which SUCK by the way) coming out, our compliance department has also been working tirelessly to launch a process that makes it easier for us, the Realtor, and most importantly, YOU, the client. With changes come confusion, and with confusion comes delays- and we ALL know delays cost MONEY!
It’s time you work with a Houston Mortgage Lender that knows what he’s doing so that we can keep that money in YOUR pocket! 
