The 7 Pound Loan

By
Mortgage and Lending 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
39,420
Jarrett Wing
Wing's Inspection Services - Redding, CA

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

Jen WIng

Jun 14, 2010 05:00 PM #1
Rainmaker
347,764
Rodney Mason
Prospect Mortgage - Atlanta, GA
FHA 203K, USDA, VA, HomePath Renovation Specialist

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.

Jun 14, 2010 09:56 PM #2
Rainmaker
239,051
Matt Grohe
RE/MAX Real Estate Concepts - Des Moines, IA
RE/MAX Des Moines

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

Jun 14, 2010 10:53 PM #3
Rainmaker
232,071
Doug Jones
Mortgage Magic - San Jose, CA
Mortgage Broker - NMLS 286668

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

Jun 14, 2010 11:11 PM #4
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Rainmaker
232,071

Doug Jones

Mortgage Broker - NMLS 286668
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