Ten Day Close: How The Magic Happens

Ok, ok… I admit it.

If someone says they can do something, I usually take their word for it and just go with it.

Regardless if what they are claiming they can do seems even remotely possible to me in the world I live in.

If someone tells me that they can run a 4 minute mile?

I believe ‘em.

Even if I know there is a 50/50 chance that I could run a mile in 12 minutes myself.

And so I remember when I first heard about the becoming-more-popular-and-debated Ten Day Close at Academy Mortgage.

My exact words on the Best Damn Real Estate Blog On The Planet were:

So if you are planning on buying a home in Arizona and find yourself in this situation – who do you call?

Not me.

Call these guys.

They promise with their checkbook that they can get your loan closed in 10 days or less.

Which in my opinion is absolutely-eye-popping-remarkable for today’s lending environment. They have managed to put all of the pieces together under that are required to do this and if it were up to me, I would put them on the Today Show for being able to pull it off on a consistent basis.

But they haven’t asked me to write on their blog.

Yet.

And this was before I had even met any of them.

As the story turned out, it wasn’t all that long after my writing that post that I actually got the invite to go to Academy Mortgage and be the somewhat-official Mortgage Commentator there.

And it has been fun.

And now I can safely declare how the Ten Day Close happens on a regular basis there. It really isn’t rocket surgery, it is just the hard work and commitment to outstanding customer service… along with these facts:

  • They have in-house processing.
  • They have in-house underwriting.
  • They have in-house doc drawing.
  • They have in-house closing.
  • They have in-house funding.
  • And they have an in-house operations manager who makes sure that everything happens as it should.

And it is kind of fun to watch the high-volume of loans that go through the office to be honest with you.

I have never in my life seen a more amazing thing during all my time in the mortgage business.

And I no longer have to tell people that the best thing about my life is that “we suck less“.

So if you find yourself in that position where I was – where you can’t get your loans done and you can’t even imagine how it could be possible… don’t call me.

Call this guy:

Steve Lines

Direct: 480-344-3662
Cell:     480-329-3346

He is the one who gets to decide if your game is good enough to come along for the ride.

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The Ten Day Close: Why Other Lenders Whine About It

We aren’t afraid to admit that we have set the bar pretty high.

So high, in fact that many of our peers don’t believe it is possible.

We can get your loan closed in ten days. And we guarantee it.

I remember the first time I heard about the ten day close, I fell out of my chair.

And then I picked myself up, got on the biggest and best damn real estate blog on the planet and wrote all about it — for the world to see.  After all, I was tired of my sales pitch to customers at the time being “we suck less?

An excerpt from what I said about the ten day close before I had ever talked to the guys behind it:

So if you are planning on buying a home in Arizona and find yourself in this situation – who do you call?

Not me.

Call these guys.

They promise with their checkbook that they can get your loan closed in 10 days or less.

Which in my opinion is absolutely-eye-popping-remarkable for today’s lending environment. They have managed to put all of the pieces together under that are required to do this and if it were up to me, I would put them on the Today Show for being able to pull it off on a consistent basis.

But they haven’t asked me to write on their blog.

Yet.

In a strange twist of how life works, it wasn’t long before I got an invite to join the team who can get loans closed in ten days and have become their official mortgage commentator as I wander around and do whatever it is I do.

And just to be completely fair, I am aware of *one* other shop in town who can get your loan closed in ten days… and I have one of their best loan officers (Shane Hollenback) right here on this blog!

But sometimes delivering the best service at a fair price can be lonely.

Other (really good) loan officers will take shots at you.

The Ten Day Close: Why Other Lenders Whine About It %spacebasenameAre you a great loan officer who is tired of your company not being able to deliver great service because they won’t do what it takes to get it done?

Don’t hate us because we deliver excellent service at a fair price - join us.

Your customers will love you.

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Ten Day Close: Do Loans Really Get Closed In Ten Days?

Every once in a while, I come across something that is out-of-the-ordinary.

Something that is so good I feel compelled to tell my friends about it.

Back in December, I stumbled on one of those things and I waited a while to make sure that what I found was real and not just a bunch of smoke and mirrors.

What did I find?

I found a mortgage bank that can close loans in 10 days.

And they guarantee it.

10 days!

I spent all of 2009 explaining how <insert excuse here> had happened and that when someone was buying a new house they should set a 45 day escrow just to give the lender the time to get it done… and even then I found that I had to file more than one extension every once in a while.

Can you really get your loan closed in ten days?

Yes.

I have seen it with my own two eyes and seen the stats.

The big secret to getting loans closed in ten days?

In no particular order:

  • Have a loan officer who knows what they are doing.
  • Have processing in house.
  • Have underwriting in house.
  • Have doc drawing in house.
  • Have a way to get appraisals done, even with the HVCC guidelines in place.
  • Have a great escrow officer who does her part.

Have senior management that will accept nothing less than excellence and hold each person accountable for achieving the goal of a ten day close each and every time.

Need a loan closed fast by people who are the best in the business?

Now you know who to call.

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