Northern Michigan Real Estate

Loan Processing Center

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

 

 

 

 

 

 

 

 

 

View Christine Stalsonburg's profile on LinkedIn

Comment balloon 0 commentsCherry Wings Realty • September 28 2009 09:46AM
Loan Processing Center
share
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… more
Short Sales & Foreclosures - Are They Worth It?
share
There are no bigger buzz words in real estate today than "Short Sale" and "Foreclosure". Everyone wants to buy one of these two gems because they believe that they are the best deals on the market. You might be surprised… more
FREE 1st Time Home Buyer Seminar
share
FIRST TIME HOME BUYERS Free Seminar Bayshore Resort, Traverse City Wednesday, May 6, 2009 6:30 pm - 8:00 pm Experts will be available to answer all of your questions regarding the First-time Home Buyer Credit. &… more
Traverse City Michingan Real Estate
share
Traverse City Michigan Real Estate Traverse City Michigan Real Estate market is alive and going strong. Grand Traverse County has had 195 homes sold so far this year with a 94% list price/sale price ratio. Many of these sales were… more
Old Mission Peninsula Home Sale Satistics
share
Old Mission Peninsula in Traverse City is a very unique community. This quiet, tranquil peninsula offers wonderful views of the East Bay and the West Bay of the Grand Traverse Bay. Many of our communities wineries are located on Old Mission. … more
Coldwell Banker Schmidt in top 50 list
share
The following article was printed in the Record Eagle by a staff reporter Coldwell Banker Schmidt in top 50 list FROM STAFF REPORTS TRAVERSE CITY -- The Coldwell Banker Schmidt Family of Companies was… more
Great Time To Buy In Traverse City, Michigan
share
The temperatures are starting to warm up, the snow is almost completely gone, Spring is just around the corner, flowers are just starting to poke their heads up out of the ground and it is a GREAT time to buy a home in Traverse City, Michigan. … more
REO Disclosure Challenges
share
If any of you have dealt with REO properties, you are probably well aware that they typically do not come with property disclosure statements from the lender. This doe snot relieve the lender-seller of their legal obligation to disclose all known… more
First Time Home Buyer Credit
share
Frequently Asked Questions About the Home Buyer Tax Credit The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8, 000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009… more