Hi there...I'm a mortgage sales office from a bank and just hope that can share or exchange a bit info with ppl who facing problem of mortgage ...

hope we all can share and get the info we want here!!Thanks

Two comments:

1. certain banks, and especially their outsource/subsidiary companies, seems to recruit geeky people with no work experience as their mortgage marketing personnel. Property is a purchase that involves a lot money ... who will want to take a loan from someone raw and unconvincing? Damages the bank rep only

2. the female mortgage sales officers of certain banks are hot hot hot! Very well-dressed, speaks powerful England, knows how to flirt (of course they pick their targets lah)

This post has been edited by Malefic: Jul 6 2008, 10:56 PM

can share which banks

Dear All......

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Added on July 7, 2008, 12:49 pmDear All,
First of all.......i wanted that we can only dicuss any problem that facing just about the mortgage loan..

1 comment: Most of the bank nowdays do outsource companies because of costing...But still depend of the customer choose who they want to be deal with..

This post has been edited by terrytang81: Jul 7 2008, 12:49 PM

Problems with mortgage?

some banker or agent talk cock, bullshit and lie (to both their company and customer)

for the real statement........the mortgage offer letter will do.....it show the real term and condition. other then that may have to reconcider......

i'm know some staff some time maybe overpromise to customer or misleading but if you all wanna know the real offer...the letter offer is the legal statement.so be advice that only offer letter to be taking into your account..

ya la malefic... which bank??

@ terrytang81,

How long does a mortgage sales officer (say from mobile sales) handle a customer's case? After the signing of the loan agreement (say for a subsale property), can the customer still rely on the mortgage officer's help until disbursement? Or is she now on her own and has to deal directly with the bank?

based on my experience, takes

1 week to approve (provided all docments are in order)
2 weeks for lawyer to prepare the loan documentations
in total of 3 months for the bank to release the money (disbursement)

anything more, the customer can call the loan officer/lawyer. Dealing with the bank is futile.

same answer as hamster9. some time you are dealing with the mobile sales (i'm one of it) sure their have a support staff that in the bank help them to tracking files.you can get their contact number in case you need update info..
normally the support staff and the lawyer will answer all you inquiry coz their are the one who handle the file after cust accept the loan so is more reliable info.

3 months sounds bad as my developer only give me 2 months grace period

Thanks terrytang81 and hamster9.

Out of curiousity, how much commission does a mortgage executive get if a client accepts a loan offer? How many % of the total loan amount?



This post has been edited by abbey: Jul 10 2008, 02:55 AM

different bank got different commission %
good basic less commission/less basic good commision.
like public bank is very good basic but no commision at all... so actually mortgage is not earn mush as you expect..

once you signed the s&p, it's stipulated 3 months doesn't mean that you have 3 months of mortgage window shopping but 3 months to give them the $$.

normally is 0.3% of loan amount.

my ex-bank...citibank
basic salary 1.5k, commission 0.3% my highest pay there was RM5.6k

my recent experience. Slow in processing. I signed this letter of offer a month ago and till now no news from agent on the next step.

wow citi bank pay 0.3% commission? so high man! 100k loan(completed property) i got rm120 only.. under construction property more worst less than rm100 my basic salary almost the same with urs...

i'm from Standard Chartered Bank also. MSO

haha... my developer here give 21 working days grace period only, mean that one month++...
but for those who need to do transfer title, we will give 21 working days+ one month...

I'm doubtful whether the bank can disburse the money within 60 days

Can't remember how long it takes but i remember more then 3 months