If you hear "no problem or don't worry" more then once in a conversation - RUN...
Most of these questions were born out of using common sense, which seems to be missing in our culture at the moment for the most part.
This is work in progress so as you have recommendations I would like to add them to this list.
These are questions that should be asked prior to committing to a specific broker/banker and a product

1. Does the mortgage company/bank have a local physical address and contact numbers?
2. Did you visit their office?
3. Did you get the names of the mortgage company/bank executives and completed your own investigation about their character, reputation and professional background?
4. Did you get a copy of their Bio and did you Google them?
5. Is the mortgage company public or privately held?
6. Does the mortgage company/bank offer a guarantee or compensation if they don't close a mortgage transaction on time (they are causing the delay)?
7. Did you ask how much mortgage volume the company/broker generated, broken down to a monthly volume for the last two years?
8. What is the % of above volume (#7) account for purchase vs.
   refinance mortgage business?
9. What is the % of above volume (#7) broken down to mortgage product types?-for example: Conforming, FHA, VA, Non-Conforming, Builder Products, Sub-Prime, etc...
   
10. Did you ask how many mortgage transactions the company/broker did not close at all (financing fell apart in the last minute) or not on time in the last two years and why?
11. What continuous improvement processes mortgage company/bank has in place?
12. How much gross & net income the mortgage company/broker has generated in the last two years?-Is proof of income available?
13. Is the profit margin or yield spread premium disclosed on the transaction?
14. Does the broker/banker paid a commission only or salary plus commission plus bonus, etc..
    ?
15. Does broker has a license required by state law and or a Bond?
16. Did you check with the state commissioner's office to see if there are any complaints or investigations against the broker?
17. Has broker/banker passed a background check?
18. What continuing education related to the mortgage industry has broker completed in the last two years?
19. Does your mortgage broker/banker has a business plan, can you see it and is it a requirement to do one by the mortgage broker/bank, he/she represents each year?
20. What niche the mortgage broker/banker works within?-for example; first time homebuyer, FHA, VA, investment transactions, etc...
    
21. How does the mortgage broker/banker get his or her business?
22. Does the mortgage broker/banker works out of his home, reports to a local mortgage office, reports to a real estate office or works in a call center?
23. Does broker/banker provide mortgage products at retail or wholesale prices?
24. Did you ask broker/banker to identify junks fees in the "Good Faith Estimate" document?
25. How long has the broker/banker been in the business?
26. If less then two years, who will be assisting him/her on this transaction?
27. Does the broker/banker work his profession as a full time career (minimum 40 hrs/week)
28. Does broker provide other ancillary services such as; life insurance, investment products, home owners insurance, real estate, etc...
    
29. How many mortgage banks does broker have a relationship with?
30. Can broker provide a breakdown of mortgage volume per relationship for the last two years?
31. Does broker have mortgage volume commitments to mortgage banks, can they be disclosed?
32. Does broker has a support staff? -such as local assistant, processor, underwriter, closer
33. At what point in the transaction client is turned over to support staff?
34. How accessible is the broker/banker after client is turned over to support staff?
35. Is there a written commitment to how long will it take to get a returned- phone call, E-mail, written correspondence?
36. Does broker/banker use underwriting guidelines every day in the course of his or her business and how does it get updated, how often?
37. Is their an escalation procedure in place?-is a copy available?
38. Once you have filled out the 1003 application and provided required documentation how will sensitive information be kept safe and confidential?
39. How is loan status reported to client/Realtor?
40. Is loan pricing automated or manual?
41. How soon your rate will be locked and will you get a copy of the written confirmation?
42. What is the turnover of mortgage brokers and staff in local, regional and at the national level?
43. How long do you have to wait until you receive a written commitment from an underwriter with conditions from the time you complete a 1003 Loan Application?
44. Is the mortgage company using very reputable and notable people in their advertising and marketing?
45. Did you interview at least three reputable mortgage companies/brokers?
46. Is the mortgage company taking advantage of technology to automate their business processes?
47. Has the broker explained to you how this automation benefits you?
48. Has the broker/banker interviewed you regarding your needs?
49. Was the broker able to explain the available products that matched your needs in simple terms?
50. Will you and/or your Realtor be able to receive notification 24 hours prior of your closing that money was ordered on you transaction and it will fund on time?
51. Will your mortgage broker be at your closing?

To Your Success, Coach Steve