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 Mortgage loan, Facing Mortgage Problem??

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hamster9
post Jul 8 2008, 01:29 PM

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QUOTE(abbey @ Jul 8 2008, 03:20 AM)
@ 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?
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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.


hamster9
post Jul 11 2008, 12:44 AM

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QUOTE(muscaa @ Jul 9 2008, 09:36 PM)
3 months sounds bad as my developer only give me 2 months grace period cry.gif
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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 $$.

QUOTE(abbey @ Jul 10 2008, 02:51 AM)
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?
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normally is 0.3% of loan amount.

QUOTE(terrytang81 @ Jul 11 2008, 12:00 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..
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my ex-bank...citibank
basic salary 1.5k, commission 0.3% my highest pay there was RM5.6k brows.gif

 

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