How to Recognize a Bad Loan Officer & How NOT to Be One

The mortgage loan industry is challenging enough to navigate in and of itself, so having a bad loan officer can really compound the issues. Here are a few things you might see from a bad loan officer.

• Reviews are really bad.
• Customer's questions are never answered
• Phone calls & emails are ignored
• Pressure for Quick Decisions from Clients
• Constant Delays & Slow Processing
• The Reviews Are Really Bad

Word of mouth, even in this digital world, is one of the most robust marketing media. It's way easier for consumers to spread their opinions of businesses these days; after all, a business's reputation can be elevated or downgraded with a few thumb strokes on a smartphone. This brings us to the point of reviews when you're looking for a lender in the process of buying a home.

When you read through reviews, remember that one or two negative experiences among hundreds of them should not be allowed to take precedence. Instead, seek patterns-which give you a far better and balanced view of the quality of the service you would receive. For instance, if a number of reviewers mention that it was hard to communicate with their MLO, that could be a red flag indicating disorganization or disinterest from the mortgage loan officer who handled the file. You conversely want to beware of a whole range of 5-star ratings, which would indicate perfect performance. Although that is a perfect scenario, it isn't the case that 100% of the clients are happy 100% of the time. Not being able to answer customer's questions

Customer service ranks high among the many duties a mortgage loan officer has. They're supposed to be a guide to homebuyers through the generally rough stage of financing a home, and they're responsible for fielding some tough questions from clients about a process that isn't exactly straightforward a lot of the time. So if you come across an MLO who is evasive about your questions, that's a good sign to take your business elsewhere.
If the MLO you're working with can't seem to ever give you a clear answer no matter what questions you ask, or they fail to take the time to make sure you understand something more complex, that is a signal of someone disinterested in providing you the service you deserve.

Phone Calls & Emails Are Never Answered
Mortgage loan officers are busy professionals.
They should, however never ignore an attempt by their clients to communicate with them. Sometimes, the MLO you are working with may not be in the office to answer your call, but they should always make sure that they return any message you leave. This rule goes for written communication. If you find yourself having to double and even triple e-mail because you never got a response to your first e-mail, you may be working with a careless MLO. Pushing Clients to Move Too Quickly One red flag waving in your face is an MLO who rushes you to sign on the dotted line before you are ready. A really good mortgage loan officer will take the time to explain loan products in detail, answer your questions, and show patience with you while you make up your mind.

This is not only indicative of bad client service, but predatory lenders often try to rush probable homebuyers into signing up for loans meant to take advantage of clients so that the company and MLO can sit back and make money. Such shady lenders that try to push clients to sign, without reading the fine print and failing to explain the implications to your personal situation, should not be trusted.
Constant Delays & Slow Processing

Sometimes the process of a mortgage loan can be bumpy.

But if you constantly get delays, this could have to do with your MLO not being diligent as it concerns you as a client.
Whether he is taking too long to reply to emails and telephone calls or failing to notify the applicant about problems that may affect processing the application on time, these are all symptoms that the MLO may be disorganized or underwater.