A bad loan officer is nothing more than a collection of signs. I can’t tell you how many times I’ve had a bad loan officer come in and say, “I will work with you to get you out of this situation.” Well, that is exactly what a bad loan officer is.
Bad loan officers can be really annoying. They can come in and try and put you in a terrible debt in order to get your credit score down, or they can come in and tell you that they cant help you. They can come in and try and pretend that their job is not a real business so that they can charge you outrageous fees for their services. They can come in and try and tell you that they cant help you.
All the signs of being a bad loan officer have been shown over and over again in the video above and it is a fact that the current loan officer at my bank is a bad loan officer… so if you have a bad loan officer, you need to find a new one. The new one isn’t going to be that good. But if you have a bad loan officer, you need to find something better.
My bank did a survey of loan officers and found that most of them are the same. They complain about things like not getting an A on their loan applications, too many missed payments, and having to do over $20,000 in property tax, for example. The best loan officer I’ve ever had is a friend of a friend who got his loans approved right away when he started.
If you think loan officers are the same as they were five years ago, you might be wrong.
Another bad loan officer from a few years back is James. He’s the one who’d have to go to jail for not providing documents to his friend when he was arrested. My friend and I are sure that James would have to go to jail every time we’re in a room in order to find a lender who has a good reason to do something he can’t even imagine.
The funny thing is, the guy who got his loans approved right away when he started was in his fifth year of being a loan officer, which is a long time for a person to find a job in the real world. And by the way, loan officers arent the only ones that make mistakes. Some of us have been in the same situation as James: being a loan officer for years, and yet still not finding a lender who has a good reason to do something its impossible to imagine.
That’s why I’m glad I have a loan officer who has no idea what a bad loan officer looks like. That way I can always look up his Facebook page and see his pictures from when he was a bad loan officer, and if I find anything odd I can always ask him to explain.
It seems like a bad loan officer is a bad loan officer. They get the loans, they get the loans done, and yet they just never seem to make good loans. That is, until you find out the lender is a bad loan officer.
Loan officers have a hard time explaining what a bad loan officer looks like because they don’t have as much information about loan officers as they should. The average loan officer has only been with their company for four years. They’ve been in charge of a large amount of loans, but they don’t have that much experience in the loans themselves. The people who get the loans usually have very little experience with them.