Forget about it - 12/30/10 07:59 AM
2010 
wow, I've been in the mortgage industry for over 30 years, but I'm not sure I've had this much fun. 
GFE
They gave us a new GFE, actually they forced it upon us. It's 3 pages and replaces the 1 page form. HUH? I need another form to actually explain what the buyers real costs should be. That makes sense, right?
NMLS
Anybody out there know what the letters stand for? Guessing is permitted. Anybody out there have any idea whether this will be helpful or not? Does this change anything?
Nope
(nationwide mortgage licensing system?)
MERS
Has anyone seen … (10 comments)

I wanna buy a house; How do I improve my FICO scores? - 12/29/10 09:24 AM
If your buyer really wants to improve their scores the information is everywhere, and it's not hard to interpret or to establish a plan, BUT let me go back to
if your buyer "really" wants to improve their scores
If they don't, and their scores are low, let's say below 640 for the sake of argument, then stop reading now and seek other "qualified" buyers. Just a suggestion here.
Just in case you're interested the info I'm about to share came from "Frequently Asked Questions: FICO Scores." It was published on July 11, 2010 by the National Association of Realtors Government Affairs … (5 comments)

The Worlds Simplist Business Plan - 12/24/10 10:48 AM
I found this in a book I'm rereading by John Maxwell entitled "Talent is Never Enough." It came from Ian Harvey, who was/is the CEO of a comapny called BTG. Olde Ian would ask his "inner circle" to tell him the following;
Two things he should stop doing
Two things he should keep doing
Two things he should start doing
So, you don't have an "inner circle." Do you have a mentor? If so, ask them. If not a team member, or maybe your broker. If all else fails, how about
Self examination
BUT, you need to be honest with yourself.
… (9 comments)

Rates are up! Does it matter? - 12/14/10 09:44 AM
Rates are up!!! Is the proper response, oh no! or who cares?
Are rates having any effect, whatsoever, over purchases, or is just really nice to have a low payment?
I lived through 18, 19, 20% rates and we still had some sales, and we were very thankful, when the rates began going down. At that time we never believed rates would/could go back to single digits.
In my opinion, for what it's worth, the only thing that matters about the upturn in rates is
that they were lower 2 weeks ago!
shoulda locked, dam!
Here's some boring data for your consumption.
… (2 comments)

Are "first time defaulters," DEADBEATS??? - 12/01/10 09:40 AM
I noticed this article this am, it kinda just jumped out at me, written by Colin Barr for Fortune, and posted on CNNMoney.com. It was the article's title which caught my attention
"Deadbeats hate their banks"
Colin references a study by the Deloitte Center for Financial Services that states;
"Half of bank customers who fell behind on loan payments or otherwise suffered a so-called negative credit event over the past ten years did so for the first time ever."
Let's look at part of that again, out of context, but still fairly powerful in my opinion. That would be the part … (6 comments)

 


Listings

Links

Archives

RSS 2.0 Feed for this blog