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A discussion about current experiences with home loan providers

I write this, really, to invite discussion from our website users. Our last 3 transactions with mortage brokers and/or banks have been among the most challenging of my entire career.  With all of the talk about “Stimulus”… seems the entities in the position to loan to highly qualified home buyers  (great credit/10 percent or more to put down/on homes which appraise easily for selling price) drag the process out for weeks.  I understand that Fannie and Freddie have changed their criteria to sign off on loans… but shouldn’t the LENDER be aware and be able to plan for these changes?

It seems to me that we need an entirely new model for the home loan process.  Perhaps a venture capitalist with vision and courage can step in.  Or perhaps everyone is still too fearful and consider all mortgages too risky.

As for the folks still in the mortgage business: PLEASE get organized and at least make an effort to “do what you say”. If you can’t deliver… please save us the headache and heartache of poor performance. Its one thing for us as agents (we can handle the frustration), but it is another to treat the buyers… who give  us our livlihood… with such poor service. They deserve better.