Use a Lender Directory to Save Time
The Lender Directory is the one service we rely heavily upon as we get further into new real estate market of primarily real estate short sales.
Sometimes known as a mortgage directory, this tool is a comprehensive current listing of the lenders of record and all their contact information.
A Real Time Saver
Using a mortgage lender directory service will save you hours of phone work, freeing up your time and allowing you to close your transaction quicker.
A good directory of lenders is designed to put all lenders and servicers right at your fingertips, and most servicers provide current contact information enabling you to get in touch with the right person for your file.
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Considered an Industry Reference Source, expect to pay for a subscription. You will quickly save much more than the small subscription fee and feel less stressed. |
Be certain that the service you choose to subscribe to has:
- Access to complete nationwide directory.
- Access to all of the relevant departments including REO, Loss Mitigation, loan service centers and administration offices.
- Current information, not yesterday's contact information.
This is an ideal reference for your short sale negotiations, and for creating a contact list in the REO departments for lenders lending in your state or nationwide.
What Results to Expect From a Lender Directory
If you choose to use a print version, you will save the hours that you would normally do research at the courthouse, digging through the seemingly endless documents in order to find the information you need. Think of this as your personal short sale directory.
Some mortgage directory providers offer a convenient online version which is slightly more up to date than it's print cousin. Let's face it, the lenders information changes fairly rapidly as departments are absorbed by other departments and one lender is bought out by another.
You can easily work from home and be more productive. Right from your own desk you will be able to access direct toll-free phone numbers, FAX number and payoff lines that will make smooth work of what used to be tedious chores.
The top providers offer "find it guarantees". This would be your assurance that if you are not able to locate a lender in their database, they will do the leg work for you - at no additional cost to you.
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