MLOs help you navigate the mortgage process, so you’ll want to work with someone who is knowledgeable of the industry and knows the ins and outs of your specific state’s laws.
A mortgage can be a big financial commitment, too, one that also involves you sharing personal information, including Social Security numbers, bank statements and tax documents. It’s important to choose an MLO you can trust.
Choosing an MLO who is knowledgeable, helpful and trustworthy may require you to do some research. You’ll want to assess your loan officer or broker and their company. First, make sure they have an up-to-date MLO license.
Then, look through their website, social media pages and third-party review sites to learn more about the company’s mission and what their past and current clients have to say. Ask friends and family for referrals. Talk to potential MLOs on the phone or visit them in person. It’s OK to shop around until you find the right lender, loan officer or broker for you.