Information Critical: Know Your Lender.

Here’s a recent experience I had with a client… hopefully you will avoid the same troubles.
My client(the buyer) interviewed several lenders of his own choosing and settled on one that appeared competent and had the lowest fees/interest rate. The day before the financing condition date I got a call from my buyer saying that the mortgage broker could not get the unconditional approval because of further income verification/occupational documentation he needed to provide that was never asked for up until now.  This paperwork would have taken almost 2 weeks to acquire from my buyers employer. His call was one of grave urgency… he really wanted this property and the seller was not willing to give an extension on the conditions because we had purchased it in a multiple offer situation and the sellers knew there were other buyers who would swoop had we not satisfied our conditions. I felt that my mortage broker who I'd done numerous deals with and is a personal friend could most likely help

 Immediately Brent Peters from Viva Lending Group and I conferenced in with him and they started on an application for him, with Brent working all hours into the night. The next morning came and we find out the original mortgage broker was refusing to reassign the appraisal and had instructed the appraiser not to assist my buyer. This broker was determined to not let this file go and that they were going to do everything they could to keep him, though they couldn’t get him fully approved for approximately two weeks!
Throughout the day Brent worked with the underwriter, loan processor, and appraiser to see that my client got his unconditional approval. Our condition time was for 9:00 pm that night… we just barely made it 24 hours after all of this drama had started.
While I work quite often with Brent on my clients’ purchases, I’ve also had terrific experience with other lenders/mortgage brokers that my clients have selected or that I have recommended from past dealings.  The focal point that I am trying to make here is that the RELATIONSHIP with the lender/mortgage broker is critical.  In the future if my buyers do not have a previous relationship with a lender/mortgage broker, I am going to strongly encourage them to consult one of the brokers I have had experience with.
The steps to buying a home or condo involve many people throughout the process(brokers,appraisers,lawyers), any one of whom can either make your purchase a success, make you miserable during the process, or outright kill the deal. It is gratifying to know that I have business colleagues that are straight forward, honest, sincere and can provide excellent results......Not to mention save my hide sometimes.