Are you asking for referrals at the right time? Studies show that 90% of referrals come in the first 6 months after the close of the transaction. And yet, most loan officers and Realtors don't actively seek them. Asking for referrals is one of the most efficient and effective business development
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06/18/2007
When the word "Sub-Prime" is mentioned, many loan officers think of low 500 credit scores or 580 100% loans from last year. Sub-Prime can offer you SO MUCH MORE to help you capture additional business. As a loan officer, knowing the options available to help serve your clients is KEY. Make sure
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06/16/2007
A survey from the Federal Reserve last week found that 56% of Mortgage Banks have tightened standards. The BIGGER question is what can YOU do, as a loan officer, to keep yourself prepared in this changing market? The answer is to know your options. Especially once I approve someone on a product
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06/16/2007
Lending Tree announced a 20% cut of its workers nationwide...I found myself amazed this Monday morning as I read thru a dozen mortgage related headlines. The media frenzy continues to focus in on the Sub-Prime melt down, as new news develops. Not only are Lenders continuing to announce cut backs
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06/15/2007
How much stronger the second quarter will ultimately be won't be revealed until the end of July, and even that will be only a preliminary estimate. Some early forecasts point to present levels of growth near "potential" for the economy, somewhere around 3% GDP. In light of how little slack in res
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06/14/2007
Did You Know?I read a recent university market survey that stated 87% of your past customers care more about relationship with you, than about the price they paid.Staying in front of past clients is key to growing your business year after year. As part of my goal, I believe in sharing marketing i
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06/14/2007
This week's report on consumer credit for April revealed something that hasn't happened in quite a while: consumers not only borrowed at a much slower pace (1.3%) than they did in March (7%), they actually paid off more plastic debt than they took out, according to the Federal Reserve.The nation'
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06/13/2007
Given the prospect for further rises in rates, borrowers holding ARMs may be well advised to heed our refi advisory. A light economic calendar, a stock market which seems to have topped out for the moment, and a late-week selloff in the Treasury market -- which pushed 10-year Treasury yields to
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06/12/2007
Refis appear to have fallen off a cliff, down more than 6 percent versus one week ago, while purchase apps eked out slightly more than a 1 percent gain: The Refinance Index decreased 6.3 percent to 1757.1 from 1874.6 the previous week and the seasonally adjusted Purchase Index increased 1.5 perce
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06/12/2007
Increasing your Frequency over your ReachI read an article recently pertaining to Real Estate Marketing that absolutely shocked me. It said:"The average American consumer is exposed to at least 5,950 advertising or promotional messages in a week, according to a study in the Texas A&M University d
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06/11/2007
