BrokerageIndustry News

Avoid these real estate deal killers

Part 2 of 2: Navigating today's mortgage market

(This is Part 2 of a two-part series. Read Part 1, "Loan approval tougher for prime borrowers, self-employed.") The days of easily obtaining mortgages are rapidly disappearing. Tougher lending standards are making it harder for buyers to qualify. To capitalize on this situation, you must understand how to navigate through the shifting lending environment. Last week's column outlined three different strategies to assist you when working with buyers and sellers in today's new lending environment. Today's column examines four additional strategies to help you and your clients successfully navigate through today's tougher mortgage market. 4. Rates go up; lenders slow down When there is a rate increase, the lending process slows down. There are a number of reasons for this. First, borrowers who have locked their loan are in a hurry to fund the loan before their lock expires. This means that lenders are swamped trying to process a backlog of loans. What can be very frustrating is...