It was just announced Friday, that Traverse City loan processing centers for Bank of America are closing down. All loan processing will be done down state. I think that we will continue to see the consolidation of these loan processing centers through the country. It is all part of the lending institutions making an attempt to once again be profitable. Consumers and Realtors should not be alarmed at this situation, as it should still be a seamless process for the loan applications. A strong loan officer will be able work through the challenge of not having a local processor for their files and the consumer should not see any delays in their transactions.
I use a loan officer from Bank of America, Holly Hack here in Traverse City and she is fabulous. One of the elements that sets her apart is the fact that she was once a loan processor. Working the backof the house has enabled her to know the loan application and processing system frontwards and backwards. She knows everything that the processors are going to ask for based on the issue that a file may have. Having someone with this sort of insight to the loan application process is invaluable.
If you are looking for a mortgage or to re-finance, give Holly a try. Her direct line is 231-409-0771.
Christine Stalsonburg, Broker/Owner
Cherry Wings Realty
231-409-4140
