The 7 Pound Loan

By
Real Estate Mortgage Broker with Mortgage Magic

We used to talk about big loans in terms of loan amount. One time I wrote an $8,000,000 first mortgage with a $500,000 second for the same client. Back as far as 1979 I wrote a $1,000,000 second mortgage loan. But today when I say I wrote I big loan, I either measure the loan or weigh it.

I just wrote my biggest loan. It is just over 7 pounds. I thought that was a record but when I mentioned the loan to a loan officer in my office; Tom Tran- he told me that he just wrote a 7 pound loan. For the record Tom's loan came in at 7.2 pounds and mine came in at 7.4. These are BIG loans.

 Here is a video clip of the loans http://www.youtube.com/watch?v=qZir7G9xC5M

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Tags:
big loans
doug jones
mortgage magic
buyers realty
tom tran

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Rainer
39,275
Jarrett Wing
Wing's Inspection Services

This is fun.  I thought the stack was going to be larger.  Did they initial every page?  :)

Jen WIng

June 14, 2010 05:00 PM
Rainmaker
342,029
Rodney Mason
FHA 203K, USDA, VA, HomePath Renovation Specialist
Prospect Mortgage

The loan files are definitely thicker these days.  We have self-employed borrower to thank for most of that.  Those tax returns can really take up space.

June 14, 2010 09:56 PM
Rainmaker
238,428
Matt Grohe
RE/MAX Des Moines
RE/MAX Real Estate Concepts

Doug: Do you think loans are going to get heavier or lighter in the future?

June 14, 2010 10:53 PM
Rainmaker
211,517
Doug Jones
Mortgage Broker - NMLS 286668
Mortgage Magic

Matt...I think for a few years we are going to have fat babys! But at least they will be healthy

June 14, 2010 11:11 PM
Anonymous
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Rainmaker
211,517

Doug Jones

Mortgage Broker - NMLS 286668
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