Coastal Real Estate and Lifestyles

The loan officers I work with do a good job of keeping me (and I’m sure their other Realtor contacts) up to date on any news about loan changes or updates from their companies.  I got an email notice yesterday from one of the loan originators I refer to, Gordon Ling at Bank of America.  He provided BofA stats on their company’s purchase money loans for 2009 - they closed the most purchase money loans in 2009 for San Mateo and Santa Clara counties then other lending institutions, including jumbo loans, according to Gordon’s reports.

Gordon represented one of my clients last year with a jumbo loan (over $1 Million loan amount) with an extremely competitive rate and a smooth close.  I was referred to Gordon by a mortgage broker who knew she could not provide the best loan product for my clients’ needs - a professional approach I appreciate.

These are the rates as of yesterday.  As you know they change daily and the final rate is subject to the borrower’s overall situation.  Gordon advises borrowers still need to pay special attention to major job, asset or income changes, and self-employment.  These rates are for general information only.

Thanks to Gordon for his care and service to my clients.  Fortunately, I have found a few loan officers who provide an exceptional level of integrity and service over the years.

As a footnote, I just want to add it’s not just about the rate, but also whether your mortgage professional stands behind his/her words, and can get the loan funded in a challenging lending environment.