Nike came by our office yesterday and offered Jenna Armstrong $3 million to endorse their new line of mortgage shoes, b/c, according to Nike, she “is the Michael Jordan of purchases.”
OK – I made that up. There are no “mortgage shoes” coming to market, and if there were, they’d probably be Tory Burch flats :).
But b/c Jenna reviewed almost 500 purchase contracts last year alone, she truly is the Michael Jordan of purchase mortgages. Nobody anywhere has her experience.
The Bulls paid Jordan a fortune to play b/c he helped them win. We pay Jenna…not quite as much. But, her experience helps us win in a similar way.
If you’re a Realtor who wants to win too, you need to make sure your loan officer has ample experience – plain and simple.
Here are just a few examples of things other loan officers missed on deals that ended up at JVM after they died at another lender:
* Flip Properties (bought and sold under 90 days)
* No “notice to vacate” when buyer purchasing a tenant occupied property as a primary residence
* Inspection reports noted in “as is” contract
* Collection accounts that needed to be paid
* Alimony expenses reported on tax returns (but missed by loan officer b/c borrower was W2’d)
* IRS taxes owed without a payment plan or proof of payment
* 2106 Expenses – issue for FHA and Jumbo loans.
* Schedule C losses (often missed with W2’d borrowers).
* Unexplained Job Gaps
Jay Voorhees at (925) 855-4491
Real Estate Broker, CA Bureau of Real Estate, BRE# 01524255, NMLS# 335646
