If you use a realtor for your home purchase, then you will have access to that realtor’s network of professionals. There is no more important an introduction a realtor can make than to a loan officer (and the home inspector comes in second place by the slightest of margins).

My recommendation: if the person who is taking your loan application answers the phone from another city, don’t use them. If the person who is taking your loan application answers the phone from a bank, don’t use them either.

These are strong words, but during my 20 year career in real estate, I’ve seen mortgage lenders come and I’ve seen them go. Now more than ever, I’ve witnessed the following bad conduct by banks:

• disregard for the closing date on the contract;

• disregard for customer satisfaction, like return phone calls; and

• disregard for realtor satisfaction, like return phone calls.

Accountability is the most important factor that guides my recommendation. A local loan officer who gets his/her business from realtor referrals literally eats or starves based upon their level of customer satisfaction. One who depends on realtor referrals has a very high-stress job because – as the maxim goes – loan officers are only as good as their last deal.

A realtor will dump a loan officer faster than you can say “open house” without even telling them why. And, perhaps even more damaging, realtors will share their bad experiences with their colleagues. I know that’s hard core, but it’s true. Consumers really benefit from this dynamic. Since the pressure is on the local loan officer at the mortgage brokerage to perform, the home buyer wins.