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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Why should loan modifiers be "credentialed?" Posted by CC in OC on July 15, 2008 at 11:30 PM In Reply to: ...Use the services of a professional loan modifier posted by Rick, the Probate Guy on July 15, 2008 at 10:26 PM I used the term "professional" to designate someone who does loan modifying for a living, as opposed to a hobby; not necessarily that they sport any "credentials." I see no need for "credentials," anyway. All you're doing is qualifying the homeowner, shuffling paperwork, putting up with insufferable hold times and generally moving the ball down the field on behalf of a homeowner who's typically too stressed out to do so himself. Most loan modifiers are licensed as loan originators. They're already acclimated to dealing with lenders, so loan modifying is a natural segue for them. Being licensed allows them to collect a fee upfront, if that's the way they want to do it, just as some loan originators collect an application fee upfront. Baby attorneys will have to find another way to make a living. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I used the term "professional" to designate someone who does loan modifying for a living, as opposed to a hobby; not necessarily that they sport any "credentials." I see no need for "credentials," anyway. All you're doing is qualifying the homeowner, shuffling paperwork, putting up with insufferable hold times and generally moving the ball down the field on behalf of a homeowner who's typically too stressed out to do so himself. : Most loan modifiers are licensed as loan originators. They're already acclimated to dealing with lenders, so loan modifying is a natural segue for them. Being licensed allows them to collect a fee upfront, if that's the way they want to do it, just as some loan originators collect an application fee upfront. Baby attorneys will have to find another way to make a living. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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