Archive for November, 2010

A Doctor, A Loan Originator & a Client…

November 17, 2010

What do a doctor and a mortgage loan originator have in common?  No, this isn’t some riddle solved by a humorous response, this is a serious question. 

We have grown accustomed to asking for referrals when it comes to our medical professionals.  Whom we choose to trust with our medical welfare and that of our families often receives rather intense scrutiny.  We may start with a referral from a trusted source, but we often keep going with some research into patient comments, legal challenges and valid licensing.  All of these are good steps to take when you need to trust someone else with help in managing your health.

Yet, how much time do we spend investigating the person who will be helping us with perhaps the single most important transaction in our lives – the purchase of a home (not to mention a refinance)?  Some consumers will hold due diligence in this matter, but more often than not we are swayed by the suggestion of advertisements.  Now don’t get us wrong, marketing has a specific use and place.  But when you need to provide someone with a significant amount of personal and financial information, shouldn’t you do a little checking first?

Let’s go back to the initial question of what a doctor and mortgage loan officer have in common.  Doctors have long since taken the Hippocratic oath upon receiving their degrees.  Believed to have been originally written by Hippocrates, a doctor recites this oath promising to uphold and respect the profession they are entering, the assumed authority given and for the people they will help.  Doctors promise to be accountable for their actions and to maintain an air of humility in a continuing desire to teach and be teachable.  A physician also promises to act in the best interest of their patients by doing what is best for the patient, guarding their privacy and understanding there is more involved than just the specific medical situation at hand.  In a matter of speaking, Mortgage loan originators now have the same set of standards too.

The SAFE Act of 2008 (Secure And Fair Enforcement for Mortgage Licensing Act of 2008) was developed “in order to increase uniformity, reduce regulatory burden, enhance consumer protection and reduce fraud”.  All of the items mentioned above that a doctor adheres to in the Hippocratic Oath can also be said of reputable mortgage loan originators.  Through the National Mortgage Licensing System (NMLS) uniform license applications, requirements and testing have been put into place.  This is actually an advantageous move for loan originators and consumers alike.  In the same way that you can confirm information about your doctor through state Department of Community Health websites, information about your loan originator can be confirmed through the National Mortgage Licensing System and Registry website.

Does your mortgage loan originator respect their profession and the authority they have been given? 

Does your mortgage loan originator respect you?

Is your mortgage loan originator accountable for their actions?

Are they trustworthy and reliable?

Does your mortgage loan originator have a teachable spirit – both to help you understand your loan and to learn more themselves?

Does your mortgage loan originator act in your best interest?

Does your mortgage loan originator respect the confidentiality of your personal information?

Does your mortgage loan originator understand your personal goals and that you are much more that just a set of figures?

They should.  Expect more, and use a mortgage loan originator who is committed to working for you.

I Hope You Love Lilac

November 1, 2010
  • It will probably be raining or cold or both on Tuesday.
  • I am really too busy to be bothered.
  • The lines will be long.
  • I have to take to kids to school, then to practice.
  • My oldest needs a ride to the orthodontist.
  • I need the time to get my gear ready for gun deer season.
  • My boss doesn’t like me to take time off from work.
  • My toenails need clipping.
  • My vote doesn’t count anyway.

If you didn’t find your excuse for not voting tomorrow, November 2nd, in this list, feel free to add it.  Then consider this…

As I drove to the office this morning, I was listening to the radio.  I heard a commercial about a guy who had taken his car to an auto painter to have it painted midnight blue.  When he called the dealer to see if his car was ready to be picked up, he was told they had painted it lilac!  Insisting that he had ordered midnight blue, he was told that “they” decided to change the order to lilac.  As he headed toward the paint shop, the commercial ended with some rather threatening words, “I guess he cares enough about choosing the color of his car to take some action.”

Do you care enough to take some action?

Please join me at the polls on Tuesday, November 2.  Find one issue important enough to get you out in the rain or cold. 

  • The war on terror 
  • Homeland security
  • Taxes
  • Social Security
  • Marriage
  • Education
  • Health Care
  • The selection of a single local official or judge
  • The future of your children

If you don’t care, “they” will choose for you.  In that case, I hope you love lilac.