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Mortgage Broker News | 27 May 2014, 09:49 AM Agree 0
Brokers have experienced a lender backlog and while the reasons vary, many agree it is due to underwriters having to adapt to recent rule changes.
  • J. Singh | 27 May 2014, 12:19 PM Agree 0
    I have been using Radius Financial and they have been giving me approvals in 2 hours or less. Great service.
  • Angela Wong-Liao - Invis Inc | 27 May 2014, 02:37 PM Agree 0
    As a rule of thumb, this is the normal busy time for underwriting due to the spring market and the new rules. It also depending on which lenders that we send our deals, I find that TD has the slowest turnaround time, 3-5 banking days is unacceptable in today's market. I have a few frustrated experience with TD and I try to steer my clients away from them because I cannot afford taking a chance with TD, especially in this very competitive market environment.
  • Cory | 03 Jun 2014, 03:55 PM Agree 0
    Add to the list the significant communication errors and gaps as a result of all of the 3rd party involvement. 3rd party appraisal ordering, 3rd party Lawyer, 3rd party cross sell and you have a recipe for the disaster we are experiencing.
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