It’s funny, the mortgage business is a commodity business on many different levels. Ultimately the money all comes from the same place, so everyone’s cost of funds is the same. After the mortgage loan is created, the overwhelming majority of them are sold to Fannie Mae, Freddie Mac or insured by the FHA. So what’s the difference between one lender and another?
Processes, a little, how they get the loans done. But ultimately, it’s about people.
Especially in the mortgage business today, you can be sure of several stressors. First and foremost is the stressor of finding business. Cultivating relationships with referral partners, working the database and presenting loan options to clients can be an all consuming. Now add the requirements to actually closed the loans, the bank statements, the paystubs, the Illinois Predatory Lending Database data entry (don’t ask if you don’t know about this one) and you have a full time job of stressors.
So there is no time to work with people who don’t play nice in the sandbox. The fact is if you are doing your business, there can’t be dissent or issues in fulfillment. If loans in process take a back seat because your workflow is deemed “less valuable” you may have an issue. Or if you are constantly reminded that the work you are generating has no value “up the food chain” and that just processing the loans is nothing more than a favor, you might have an issue. If it’s obvious that if you have to invest major time listening over and over to minor complaints you have an issue.
Ultimately, if you don’t play nice in the sandbox, there are plenty of lenders/companies willing to clear your business and you won’t constantly have sand in your shoes…or your face.
