7 Why don't loan officers go to closings
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Uploader Comments (mikerohrig)
All Comments (17)
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Good question but their job is completely different.
1. Loan Officers have clients in different cities and states.
2. Loan Officers (especially those working for big banks) can have up to 30+ loans per month which leaves no time to spend driving and waiting on closings.
3. If a Loan Officer goes to a closing and there is a problem with the HUD or other paperwork it is very hard to fix without their computer/email/contacts.
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Alot of my closings are out of state, but the deals I have in state I only go to if the realtor asked that I be present due to pain in the ass buyers. that is very few and I am very lucky. I do respect the fact that you feel the need to be there to represent your clients but I also feel thats a realtors job.
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...except when it's not "no daaa". no NEED to go to a closing? are you sure that your clients feel the same way? I agree that not all need me there (I attend many closings), but many really appreciate that I care enough to show up (BTW, so do the realtors who go... unless you are just doing all refi's...) I do respect that you work your own loans and that your clients are happy with your work.
Good work Mike!
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If you do your job right in the beginning there is no need to go to a closing.I run my loans from beginning to end and I do not hand them off to someone to process not knowing the client or what is going on. Yes I work long hours but my loans close quick and everyone is happy. My buyers are informed of the particulars of their loan upfront. No surprises , No Daaa when they get to the table
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Thanks Mike. I never said anything about forcing anybody or anything about pushing a client away. You have the "power" aka ability, to control who your buyers use by maintaining respectful control to the process. My strong agents, I work with, want to close and they have the confidence in me, so they strongly convey that confidence. Once they do, and the client gives me a call, the rest is up to me. Too many agents don't convey this same confidence and ultimately lose control of the process.
TheMortgageSmith 6 months ago
@TheMortgageSmith Sorry, I get the "Control Your Clients" message from so many people (especially brokers who don't like the way a deal is going) that I jumped to that conclusion. I have not been able to always get them to talk to my guys and even then they didn't always use them when they did talk to them which has surprised me. They will ask my opinions but when it comes to loans they want to figure that on their own. Rare but it happens.
mikerohrig 6 months ago
Mike, I am a Loan Officer/Lender in NC, and have been for 12 years. I attend all of my closings. I once had a closing during the Christmas holidays, in which I was in Michigan with my family and I took a same day flight down to NC in the morning to attend the close and then fly back to Michigan that evening. JUST to be at the close. If you LO/Lender doesn't attend the close, why do you use them??!! You are complaining about something that you can control. WHY??
TheMortgageSmith 6 months ago
@TheMortgageSmith You sound awesome and I hope you get referrals left and right for your hardwork!
We both know we can't force our clients to do anything and I'm not going to push a client away because they work with a lender I don't know.
mikerohrig 6 months ago
Can you say PRECLOSE your customer so there is no blow up at the table. LO's should be selling and on to the next deal once they make sure the closing is fine and all details are disclosed BEFORE going..closing is just an avenue to open up a can of worms
Schapin12 11 months ago
@Schapin12 That can of worms opens up whether or not you are there. You just might not hear about it. I have had clients hug me and send me cards because I went to closings, even a 6am closing, and 95% of the papers don't even deal with me.
You might have more "next" deals to go on to if you go to closing when they are at one of their happiest moments during this process.
mikerohrig 11 months ago