As a mortgage lender, my biggest complaint is how much marketing is done by people who don't even know how to get a loan closed - they focus on making money but not on becoming good at what they do, and it makes everyone look bad.

Best attributes are good with communication, detail oriented, and tremendous focus on customer service for both clients and business partners

I don't have any complaints from the people I work with. They all do a good job.

Prompt replies & updates are important.

My biggest complaint with some mortgage lenders (I won't name names), is that there is no one person who monitors the transaction from application through closing.  They have a system where person A does their part, then throws it over the wall to person B, who in turn throws it over the wall to person C. If something goes wrong in the process, no one is tracking it until it gets to the end and finds out something is wrong or missing.

No complaints about the people I use. They are professionals, that is why I prefer them.

The good ones close on time and keep me informed.

The bad ones are not cognizant of closing dates.

we have a wonderful mortgage officer who we use....and the difference between him and others is that he does not throw it up against the wall to see if it will stick.... he follows up and keeps all of us in the loop....and we close deals....

Complaint: Poor communication... keeping the agent and buyer updated on the status of a loan.
Favorite attribute: Just the opposite. Those who DO communicate and keep the agent and buyer updated on the status of a loan.

BIGGEST COMPLAINT - they weenie-wag about being able to close a transaction in rapid time, only to come back demanding extensions (of course never through fault of theirs). If you can't do it in 30, tell us at the beginning you need 60!
FAVORITE ATTRIBUTE - my very favorite loan guy vets borrowers so carefully his deals never bounce. As a broker, with 3 offers all otherwise the same, his financed deals go to the top of the pile.

Patrick Chicklinski:With 50 years in the Mortgage Business, you can blame Dodd-Frank for the lack of the one person does all. Dodd-Frank took away my ability to even talk to an appraiser, the underwriter on the mortgage is isolated from the loan originator and with so many new regulations (thanks to Dodd-Frank and the CFPB) it take more people involved in the transaction. Next time you go to a closing, understand that Nation-Wide, fees are up $2,100. Why, because all these Government agencies have people that need to get paid. Where is it coming from. Your buyers who need a mortgage. As Paul Harvey said, "Now you know the rest of the story." And yes some people in the mortgage world do not stay on top of their loans.

Lack of communication and follow-up, not closing per the contract are the major grips.

I want someone who is as smart as me, is experienced, knows all the in's and out's, works nights and weekends and can close a crappy file...

Eve

Patrick,

We were fortunate to always have the best around us.  A

Some L/O's declare "approved!" way too early

My LOs are all AMAZING and I have absolutely ZERO complaints with them.

However, when doing a deal on the other side with one, O M G - those who put our file on the back-burner drives me NUTS! I love it when they meet or beat the deadlines, not make me keep having to stay on them to do their jobs.

Lastly, I hate the the LO on some deals passes us to the processor and then the underwriter and the poor buyers have no idea to whom the documents go. When you f/u with the LO, they have no clue what is going on with the file. 

#RantOver

Lack of communication is number one complaint and saying they can do something and they can't pull it off is number two. Favorites are those that keep their word and stay in touch.

I am very particular about working with lenders with service and expertise.

Love communication.  Working a deal right now with a lender who has a staff that automatically gives updates every step of the way... and I'm the LISTING AGENT!

Biggest complaint, is when the person gets too big for their britches and decides they'll only give quality service to the clients that refer the most business to them and the people who put "All buyers must pre-qual through Joe Schmo at Schmuck Lending" the most.  Leaving the rest of the agents out in the cold.  We've had buyers litterally in tears in the ass hat's office because he was costing them their house.  He even screwed me up on one of my purchases!  Needless to say, I stopped doing business with him and found a better agent and company to give my business to!

I have no complaints as I work with a small number of lenders who I know deliver service to my clients. However, for those that I don't know, it's not meeting deadlines they've indicated they are able to meet.

Good ones know what they are doing...I don't have any bad ones!!!

I try to avoid those who do not follow up with prospects.

They do not return phone calls

They probably don't like REALTORS, but some never want to keep you in the loop as a listing agent.   Best attributes is when they do!  

Underwriter demands and failure to communicate effectively.

As a Lender, I find many of these comments to be spot on.  That said, not all Lenders are alike in terms of professionalism/diligence/competency/etc (in the same spirit that we would all agree that not all Real Estate Agents are alike). There are proactive Lenders who based their entire business plan on reputation and accountability. In order to maintain this type of business, these particular Loan Officers are forced to communicate more, be more proactive, underpromise/overdeliver, and do their jobs in a manner that makes all parties happy with their performance.  I recommend each Agent find a Loan Officer local to them who possesses these traits and formulate a long lasting partnership. As long as there are non-cash Buyers, you will have a Lender involved in these Escrows...might as well stack the deck in your favor and work with someone you trust (who takes their partnership with you seriously).

When the processing mortgage loan center is on Pluto or other solar system, the servicing is weak. Not a criticism but a fact. Use your local close to home servicing so deals don't die waiting and seller pulls up the tent stakes, screaming "Next buyer". Avoid the gypsy lenders / title companies with no stick and bricks in your town to protect the local economy too.

Lack of communication and last minute surprises

No complaints for those that know what they are doing and get the job done!

They tend to screw up our time-frames by over promising and under delivering.

That said, Jason E. Gordon is all about my favorite attributes of a proper mortgage lender.

Right now, I don't have any complaints. They are all extremely hard-working and I appreciate that.

They try to scare borrowers into expensive rate locks (often unnecessary) and points (usually too expensive and also not necessary). 

Patrick Chicklinski Some don't believe in meeting contractual dates. You are at the mercy of the Underwriter. A lender you can trust and who comes through.

Lyn Sims nailed this one!

Patrick Chicklinski - he gets the job done is my most favorite part!

And at times, I am in dark is my not-so-favorite part.

 "My" lenders are great.  But now and then I encounter someone outside my sphere who has poor communication skills, or doesn't get the loan closed on time.

Get the job done, and done on time, and keep the client informed.

They must always be present & accountable for the length of the transaction