Lending banks are dripping out loans

Banks are Leaking out Loans One Slowly at a Time

Banks are Leaking out Loans One Slowly at a Time

Banks are Dripping out Loans and penalizing excellent buyers.

It is amazing to me that no matter how much down payment a buyer has or how exceptional their credit scores it is impossible to get a loan without complications and costly delays. It seems as if the lending banks must have an intricate monitoring system that will only allow a specific number of loans within a risk analysis to be released.

Logical on the lending side? Yes, Please…Could have used this in 2004.
Continuing to clog the housing system? YES!

Complications and delays are causing quality buyers to lose deals.
In short sale situations sometimes these buyers have been waiting for months for bank approval.
Once approved delays continue due to lenders moving so slowly.

Many of the delays come from direct lenders. It is virtually impossible to get a loan through Bank of America or Wells Fargo in less than 30 days. HUD’s new FHA requirements for condos are testing the time lines for both buyers and sellers.

Here is a lovely taste of irony. Short selling banks and Band Owned or REO’s, depending on the transaction, may require buyer to sign a per-diem for daily
charges if they don’t close by a specific date.

How can a buyer predict and commit to a time line of which they have no control
and no access to information?

What do you think? Are lending banks to penalizing qualified buyers?

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