Rocket Mortgage says they can speed
you to close your loan
BUT
Four downsides with this idea:
#1 A Borrower’s submitting personal
documentation
(unfiltered) straight into
Underwriting is a terrible idea.
No Borrower can edit and interpret
and dig like I can.
Some paperwork is best left out.
Once it is seen, it can't be ignored.
Every loan is a custom fit.
#2 I would never log into my bank through
Quicken for asset
verification.
Quicken is capturing my login and password.
They can take money out of the accounts.
#3 After the initial “rush” to approval,
quicken admits that their process
to
close is no different than any other company.
#4 Borrowers lose their lateral vision
#4 Borrowers lose their lateral vision
in finding alternative loan products,
the
whole reason for going to a professional
Loan Officer.
Although outside industry thinks
a monkey, artificial intelligence AI or some
snazzy system can put a puzzle together - it
isn't just product knowledge that is necessary
- knowing what to put in the file, what
to edit, and how to explain is Vital.
C. G. Barbeau
The Loan Answer Lady
(949) 784-9699
Although outside industry thinks
a monkey, artificial intelligence AI or some
snazzy system can put a puzzle together - it
isn't just product knowledge that is necessary
- knowing what to put in the file, what
to edit, and how to explain is Vital.
C. G. Barbeau
The Loan Answer Lady
(949) 784-9699
Link below from Article written by a Mortgage Guy from Quicken
