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Diminishing Resources

When a buyer asks for referrals to mortgage lenders, I try to provide three names.  I do that because everyone’s needs and expectations are different, personality clashes sometimes occur, and of course to ensure that clients rely on their own research and not my say-so.

I always provide my brother’s name, because he is a mortgage broker who is reputable, reliable, and (as I always tell my clients when making full disclosure) I know where he lives!  But I also would offer the contact information for a credit union and a bank mortgage representative (neither of whom I was related to, or even friendly with) so my client could call and compare.

Yesterday I found out that each of these women was laid off through no fault of their own-- they were just small players on the field where dwindling mortgage applications and higher unemployment meet.  I am personally sad for them, and mad for me, as I now have to do some research to find dependable, decent lender reps that deserve my clients’ business.

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My latest Huffington Post entry on one woman’s perception of how the housing downturn has affected her: 
Even the Losers Get Lucky Sometimes

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