What Happened To The Good Old Days?
Tuesday, October 12, 2010
I remember when I first entered the real estate business back in 1972, we worked directly with our local bankers for home loans! The bank would take the loan applications, run the credit, order the appraisal, draw the loan documents, explain the loan terms and conditions to the buyer and then fund the loan into escrow. The bank actually retained servicing of the loan…meaning the bank would collect payments and issue statements to keep the homeowner informed about the loan status. It was so simple and yet very effective and manageable. We trusted our local bamkers that lived in the community, atttended school functions, worshipped and grew old in their years! A far cry from where we are today!!!
Give me your thoughts and comments!!
