Additional Blog Post 4: Mentor Ship

This past month I've been non-stop reviewing the loan process as a whole. My mentor, Mariana, and I did a loan for a Mr. John. I can say much about the loan, but he wanted a $400,000 loan. Apparently that's just the average loan according to Mariana which just astounds me. The details I can share are that he owns two properties which confused us because in past tax returns he only owned one, so this threw off our loaning process which delayed it by 2 days. We had to get a hold of the borrower and explain that the banks were going to see that as quite suspicious how he suddenly gained a property and never filed it on his taxes yet. That's another thing that the 2008 crisis caused was that every bank started to look into every detail precisely. Any little flaw that conflicts with the banks check list on every loan causes the whole loan to come to a stop. You can't blame the banks, but they are a pain to work with I can tell you that now. We went and fixed the problem it turned out he just wrote it out wrong. *Que Face Palm*. Just a friendly reminder from your friendly Loan Processor Mentor make sure you fill out things correctly. The loan took around 2 Weeks to go through.