Posted by Ed Garcia on December 08, 1999 at 11:04:37:
From now on when I see your name on a post, I think I’m going to leave it alone.
Yes it’s true, we do have a check list. When I teach people how to put a loan package
together, I use a standard list required by Fannie Mae, Freddie Mac.
Tony, it could really be time consuming for me to try and provide you this information
on this post. The problem is, I don’t have time this morning, and by the time I do all of
the typing I would need to do, this post will already be out of site, and no one would
have benefited but you.
So my suggestion is for you to either call me at (909) 944-0199, or e- mail me and I will
provide you with the information that your need. If you call me I will get your fax number
and send it to you.
Meanwhile, I’d like you to know that the main document in a loan package is the credit
application. Everything else is called supporting documentation. It just helps verify what is
on the application. Just remember, everything you put on an application has to be verified.
Also I think it’s important for you to keep a current loan package on yourself.
One of my main points in teaching How To Have Lenders Fighting To Give You Money,
Is for you to duplicate your loan package when giving it to the broker of your choice.
That way the first time things seem to go wrong, I can have a deal started at a drop of a hat.
As far as your list is concerned, you’ve got the right idea. Here are my comments.
1.OK, but not necessary.
2.through 8 OK.
9. Have the check stubs ready but don’t send them. Tony it’s important that you don’t
go for over kill.
11. No, it’s not necessary for you to call everyday. Not only will that be over kill, your
going to p-i-s-s off the broker because they won’t be able to get anything done.
Call Wednesday and Friday. If you called Friday, why would you call Monday, the broker
would have not done anything over the weekend, get my point. Your list is a good start.
Tony, I can’t tell you how important a good loan package is when doing a deal. It makes the
Brokers job easier, and saves you a lot of time and aggravation.