The Mortgage Loan Process

The Good, Bad, And Ugly - But the Real. A humorous, sarcastic walk-through of a dry, boring topic for beginners.

Non-Fiction - Business/Finance
349 Pages
Reviewed on 09/03/2020
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    Book Review

Reviewed by Jamie Michele for Readers' Favorite

For all those who find themselves in the labyrinth of real estate lending, Adrean J. Rudie brings us The Mortgage Loan Process. Rudie leads the way outfitted with a mortgage lending license, a full suite of insurance licenses, the series 6 & 63 limited securities licenses, and experience enough to be considered an authority on the lending process. Rudie's compilation of information and material is broad and allows a reader in the market for any type of real estate loan to partake without fear of language too pretentious to follow or so simplistic that it comes across as patronizing. Rudie creates an even-handed and balanced bridge, 27 years in the making, for those who require a complete overview.

The first thing that struck me in reading The Mortgage Loan Process is the voice Adrean J. Rudie imparts to her writing. Like a friend explaining how a process is going to pan out over coffee at my kitchen table, I am instantly trusting of Rudie even though I do not know her. I recently watched my brother bumble through a VA loan with a lender-slash-realtor who seemed to be less qualified than he initially boasted about, and when the terms of the transaction were made clear my brother walked away before he was robbed blind. Rudie is the exact opposite and it shows in how she delivers every piece of information down to the most minute details. I never knew the purpose of escrow or what title insurance was actually for, nor was I privy to what formulates the different types of interest rates and the risk factors involved for both the lender and the purchaser. Anyone who goes out on a limb and decides to proceed with a mortgage would be doing themselves a disservice in skipping over this book.

Vernita Naylor

When you decide to make any type of major financial decision, it's best to consult with an expert whether it's for a home or a vehicle. If you're looking to purchase, refinance, or understand the various elements of the mortgage loan process, The Mortgage Loan Process by Adrean J Rudie is a must. In this book, Adrean breaks it all down for the reader from the over thirty key players and their roles to the detailed loan application process. In this book, you will walk through the process of applying for a loan, step by step, and see why there are times that you must continually submit some of the same documents over and over again. Adrean has taken a substantial subject and has made it manageable to read and understand, and has included some fun stories of her own.

I wished that I had known about this book earlier because Adrean divulged several facets of understanding the lending process which helped me to appreciate the various moving parts more. This book is based upon her experience in the real estate and lending industry, and seeing things from an inside out perspective is critical for the consumer. It was interesting to read some of the stories and recommendations from over ten of Adrean's clientele in telling about their journey and the part that she's played. This book is highly recommended and will help you to minimize your learning curve and experience in navigating through the mortgage loan process, whether you're buying or refinancing.

Asher Syed

The Mortgage Loan Process by Adrean J Rudie is a non-fiction self-help guide for those who are novices in real estate finance and looking for a comprehensive book to walk them through the process, step by step. Over the course of thirty-seven chapters, the book provides a no-nonsense road map for mortgage lending in all its forms, with clear explanations on their differences, who they are intended for, what is required for the processing and underwriting of each, the timelines, and an agent's and lender's responsibility to a buyer as well as the responsibility of the buyer to the agent and the lender. Rudie is able to pool decades of experience in the industry and imparts it with a writing style that has the feel of an agent or broker speaking directly to the reader as a client.

As confusing as the subject matter appears to be at first glance, The Mortgage Loan Process, as outlined by author Adrean J Rudie, is pretty straightforward—so long as everyone is on the same page and working together to put all of the pieces together. Real estate finance does vary by state, but the nuts and bolts are similar across the board. The most interesting and enlightening parts for me in this guide are Rudie's completely honest assessment of industry volatility. In addition to historical patterns of booms and busts, there is also a very timely inclusion regarding COVID-19 and how to weather the many, many storms that can otherwise topple those without the stomach to hang tight. Also interesting is the transparency with regard to how agents, lenders, banks, insurance companies, and everyone else attached to the loan makes money from it...as well as the entire secondary market and where your note goes. I imagine that this book was initially written as a “FAQs” guide for her own clients, but there's no question that Rudie's book will be a great resource for all who read it.

Samantha Coville

Let's be honest for a quick second: the mortgage loan process is super confusing. There are so many papers to fill out, numbers to know or find, and people you have to talk to. For first time home buyers, the entire situation can feel daunting and sometimes you have to wonder, "how do other people get through this?" Well, now we have an in-depth, start to finish guide that compiles everything you need to know about mortgage loans all in one place! Author Adrean J Rudie has basically done all the late-night study hours for us and given us the answers to the big final exam. It couldn't be easier. And, even better, this book applies to the home refinancing process too.

A little backstory on me so you can learn why I gravitated toward this book. I had the honor of marrying the love of my life at the beginning of this year. He and I now currently live with a family member of mine, but we are looking to finally buy our own home and have our own place to start our family. However, we are what some would consider a very young couple. So we are learning together some "adulting" responsibilities. A mortgage loan? I feel that's the pinnacle of adulting and it is scary. I devoured this book over one weekend, engrossed in the easy, simplified language author Adrean J Rudie uses to explain every step of obtaining a mortgage loan. It truly could not be easier! I feel relieved, as if a weight has been lifted off my shoulders. I now feel confident as I begin this momentous step in my life and marriage. If you have any hesitations, uncertainty, or are completely clueless when it comes to mortgage loans, don't wait a moment longer and pick up The Mortgage Loan Process today.

Tammy Ruggles

The Mortgage Loan Process by Adrean J Rudie is the book to read before buying a home. It's full of important, useful information that the average person doesn't understand but needs to know before borrowing money for a home. Let's face it. Comparing home loans and financial institutions can seem like wading through a jungle, but Rudie softens the blow with a simplified approach and a sense of humor. The author breaks down the mortgage loan process from beginning to end (application to keys in your hand) and goes into detail about the problems that can come up, and things you should avoid. In short, the author gives good advice that will help YOU, the potential borrower.

Some of the topics Rudie covers include understanding the mortgage loan process, knowing the roles of everyone involved, how to prepare for the loan application, the kinds of loans that are available to you (there are so many!), spotting a bad loan/deal, credit scores/financial history/income, financing within your means/limitations, knowing the market cycles, and so much more. The information is so helpful and interesting, you won't get bogged down in the mind-melting details, but it's still information you have to know. It's just that the author's humorous approach, using funny anecdotes to illustrate some of her points, makes it all more palatable--like taking a spoonful of sugar with bad-tasting medicine. While reading, you get the impression that Rudie is looking out for the reader's best interests. Her book can save you money and heartache in the long run. The Mortgage Loan Process by Adrean J. Rudie should be read by anyone looking to borrow for a new home.