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cape coral loan officer: are you "the real deal" - 04/07/12 06:04 AM
I don't know why I've been thinking about this so much. I guess maybe I'd just like to live in a simpler world sometimes, where things actually are as they appear to be.
So, what's really real?
Here's Websters take
real   actual, true; genuine
 
Let's say I'm attracted to you, want to do business with you, and/or refer clients to you because of your blogs. They are well thought out, interesting topics, and the content is first rate.
Then I find out that what has attracted me to you isn't 
"real"
actually you use a ghost writer. These are not … (4 comments)

cape coral loan officer: Cape Coral's Cookin... and I don't just mean cheeseburgers and bow wow's; although there's plenty of that - 04/01/12 07:35 AM
you know, ordinarily in a posting about Cape Coral I'd want to make sure I mentioned our 400+ miles of waterfront and I'd certainly want to sneak in a shameless plug about the weather like
currently it's sunny and 70 degrees heading to a high in the upper 80's
 today I'm going to leave that stuff out.
What's really got my attention here though are these numbers:
Closings;
Nov 2011   318
Dec 2011   330
Jan 2012   339
Feb 2012   379
better get em while they're hot
Here's some interesting numbers if you're still concerned with instability, you know foreclosures and short sales. … (2 comments)

cape coral loan officer: all my buyers are cash! Houston, we have a problem...I can't refer any of my clients to you - 03/29/12 02:34 AM
You just don't know how many functions, Realtor Breakfast's, WCR functions, etc, where I hear this all the time
All my buyers pay cash
I admit that there is a great deal of $$$$$ flowing into Southwest Florida, and in spite of the inaccuracies being reported by the national media, there has been for quite awhile.
My first thought when I hear this is that if you want to expand your business, start dealing with those buyers who need to acquire a mortgage.
remember the "DINK's"
double income no kids
they're still out there, they work next to you, and often … (2 comments)

cape coral loan officer: what's happening in Southwest Florida; where are all those dumptrucks coming from? and did that man just say what I think he did? - 03/25/12 03:11 AM
I was talking with my boss, Joanne, the other day, and I told her that I thought one of the good signs for our market was that there were suddenly dumptrucks everywhere, in some cases blocking or slowing down the traffic. For a mortgage lender dumptrucks are a good sign, because that means people are building things and that's a good sign. The biggest reason to me is that building creates
JOBS!
It is a sign of a return to a healthy economy, a sign that we're
heading in the right direction
I must share with you that it was a little … (7 comments)

cape coral loan officer: Mortgage Companies/Bankers from the past to.... - 03/25/12 02:40 AM
Way back, many, many years ago I entered into the mortgage business and I started out by working for a mortgage company. Over the 30 plus years that I have been involved in mortgage lending I have worked for several banking institutions, but actually still as a mortgage banker.
I always find it interesting to look back and see how the mortgage companies got started, how they evolved, and where we are now. Here's what I believe to be one of the basic premises as to the birth of the mortgage companies, and let me know if you see some striking similarity … (0 comments)

cape coral loan officer: If you can't satisfy the requirements to become a licensed Mortgage Loan Originator...well you can always just go to work at a bank - 03/10/12 04:42 AM
I am a licensed "Loan Originator" working for a mortgage company...what does that mean.
as a "loan originator" I need to meet certain specific financial and educational requirements in order to qualify for licensing through the NMLS, the national licensing sytem established to regulate a "Loan Originator."
It would be easy just to say that the loan originator has replaced the mortgage broker, but actually it's more than that.
Here's why;
the "Loan Originator" must meet some fairly stringent standards established through the NMLS system, including but not limited to:
Financial:
in most cases no bankcruptcies, foreclosures, and or judgements. Other … (5 comments)

cape coral loan officer: Today's Recipe for Helping Veterans Become Homeowners - 03/07/12 06:15 AM
I live in Southwest Florida where the concentration of Veterans is very high, one of the strongest in the country. We should be proud of that here, and yet as a lender I don't see many Veterans using their VA benefit to purchase a home, and for the life of me I just don't know why. I have some suspicions, but they're not conclusive. I certainly hope that it is not that people in our industry do not want to help a Veteran utilize his/her benefits because
I do
So how do we accomplish this goal of "helping Veterans become homeowners?"
… (0 comments)

cape coral loan officer: No Downpayment required...or very little. - 03/01/12 06:27 AM
I can't believe that I still hear people stating that you need a 20% downpayment to buy a home today. I sometimes hear this from my Realtor friends.
Let me take a quick moment and address my Realtor friends. In Southwest Florida we have been swamped by $$$$$ buyers. I mean they're everywhere. Because of this many of the most active Realtors have lost touch with what is available for mortgage financing.
sad, but true
now, back to the little or no downpayment. We have these things called, sometimes appropriately, and some times questionably
Government Loans
to address the questionably part. … (0 comments)

cape coral loan officer: Portfolio Loans; what they are...and what they're not - 02/28/12 06:02 AM
It seems that when the term "portfolio loan" is brought up that it conjures up different images in the minds of different people. Let me see if I can give a definition of what a portfolio loan is, at least in my mind, and later, what it isn't.
to me a portfolio loan, in its simplist sense, is a loan where a banking institution establishes its own guidelines. In essence they decide, who the loan will be made available to, and the criteria for acquiring the loan. These guidelines/criteria usually vary from common agency/traditional requirements.  
 For example in my marketplace it … (19 comments)

cape coral loan officer: Your Lenders Package...and/or how to make the process go smoothly - 10/29/11 01:35 PM
Okay, you've decided that you want to buy a home, and you're going to need to acquire a mortgage. You know that they are going to want documentation up front, and you're the type of person(s) who like to be prepared.
here you go for starters...you will need
2009 & 2010 tax returns-all schedules
2009 & 2010 W2's
your most recent 30 days of paystubs
your most recent 2 months of bank/asset statements-all pages
note; if your bank statement says there are 4 pages and the last page is a worksheet/scratchsheet, provide all pages. the underwriter doesn't know what's on the last page … (3 comments)

cape coral loan officer: is Truthfulness important to your business? - 10/27/11 01:02 PM
Okay what brought this on you may be thinking?
Yesterday I received a totally unsolicitated inquiry in regards to my interest in employment with a Chicago based mortgage company.
Here's the introductory line
Thank you for you initial interest in------------ -------.
 I had had not made any inquiries, had not had any contact, or did not have any idea who this company was, but being in an unusual mood I responded. Usually I just delete.
the response;
i don't recall ever expressing an interest.
in today's environment ethics is very important, and attempting to establish a relationship with a lie is … (0 comments)

cape coral loan officer: The S.A.V.E. Act; more worthless legislation - 10/25/11 12:24 PM
YES
maybe
NO
If this is what is going to continue to come out of our Congress, maybe we should just extend their vacations, and let them all stay at home.Just a thought.
the essence of the bill is to include energy calculations in the mortgage underwriting process, thus improving lending standards
pleeeeease
Indirectly all costs are considered when underwriting a loan. But more importantly I would like to state
that Senators Isakson and Bennet have absolutely no qualifications to be able to make decisions as to underwriting mortgage loans and the quality thereof.
you know what this is...YUP
just some … (7 comments)

cape coral loan officer: Are you an expert? Do you claim to be? - 10/09/11 11:09 AM
I was just reading a post over on "Short Sale Superstars" posing a question about the claims that we make or the labels we attache to ourselves and the ethics and/or liability involved, if any. I mean I don't know about you, but I see people making claims as to their levels of expertise in particular areas that knowing and/or having done business with them I'd have to challenge.
okay, definition;
expert-  very skillful, one with great skill or knowledge in a field
Since my experience, over 30 years, is in the mortgage industry, I'll use some examples there.
Just awhile back, … (0 comments)

cape coral loan officer: I WANT MY MONEY BACK - 10/08/11 12:48 PM
Well,
you caaaaan't have it!
well, maybe you can, or maybe you can't, and even if you can it may not be easy, and it could cost you
what is this all about, you may ask?
Many of my Realtor friends are extremely happy because most of their sales are cash. Cash continues to pour into Southwest Florida regardless of what the national press may report. Also the market is fairly strong, and we now are experiencing inventory problems. But that's not my point.
so what is my point, you may be wondering?
Here's the potential problem;
when a buyer pays cash … (6 comments)

cape coral loan officer: well just let me say this about that - 09/20/11 03:53 PM
My good friends at cnnmoney.com have rated Cape Coral, Florida as the second best place to retire out of the top 25. Now on the surface that may sound nice, but I've got to tell you sometjhing; based on their own info it's obvious
We're #1
got to be
here's their first bone of contention.
Marquette Michigan, yes get out your maps, is number one because and I quote
As lovely as it sounds to sip margaritas on the beach, doing it year round can get old.
Wrrrrrrrrrrong!
 i'll tell you a little secret. we have plenty of people who have been engaging … (2 comments)

cape coral loan officer: Mortgage Pie - 08/25/11 10:13 AM
In most cases when you bake a pie you use a certain recipe and you make sure you get all the ingredients correct, that would be those that you need and in the correct amounts.
well
A little while back I saw an article published by "constantly negative news," previously known as CNN. The gist of the headline was that a potential homebuyer with a 800 credit score was denied a loan. I'll touch on the lack of truthfulness in regards to the score in a minute, but my first bone of contention is
that a mortgage application is not approved … (0 comments)

cape coral loan officer: a mortgage is like a nice dress or a suit - 08/23/11 09:15 AM
it should be tailor made for the person wearing it, not the person who made it.
Do you remember what's just so special about a mortgage company, or do you need a refresher course?
Do you remember how/why we came into existence? let me share some thoughts.
We are a mortgage company. We only do mortgages. We are mortgage specialists. We do mortgages well...or we go out of business.
here's an indisputable fact
My (mortgage) product line is more extensive than any individual banking institution.
Rather than trying to force fit a clients needs into one of our products, which may … (2 comments)

cape coral loan officer: the "most" deserving buyers on God's earth - 07/08/11 11:16 AM
I hope you didn't need to click on the title just to check the answer.
their is no more deserving buyer in this country than a VETERAN
I'm not going to get into a long winded explanation, because if you don't understand why I would say such a thing...well
Have you ever helped a Veteran utilize their VA benefit?
if not, why not?
Here's the VA's position
the Veteran's eligibility is an earned benefit
Once again no explanation necessary.
Here's some info I picked up yesterday from Brian & Frank over at TBWS
there are;
152 Air Force facilities
144 Army
… (2 comments)

cape coral loan officer: 620, 620, 620; that's the score it takes to get a mortgage with little or no downpayment - 07/07/11 01:33 PM
that's a fact Jack!
or anyone else.
despite what you may continue to read in some of the national print and online publications I'm going to give you 3, count em 3, options to purchase a home with a 620 credit score, and little to no downpayment.
Always, always, always; VETERANS first
VA Mortgages
minimum credit score 620, no downpayment required, no monthly mortgage insurance, the seller can pay your closing costs.
there are 22 million VETERANS in the U.S. so says Brian & Frank @ TBWS
personally I have been a VA lender for over 30 years and
proud of … (0 comments)

cape coral loan officer: what is perfect credit anyway and is that all it takes? - 07/06/11 09:52 AM
Two articles caught my eye yesterday while checking CNNMoney.com for any bond yield changes. It is a real quick way to monitor any movement.
You have to remember that C(onstantly) N(egative)N(ews) just loves putting the olde negative spin on their stories, whenever possible, but when I saw
"Secrets to getting a mortgage with so-so credit"  by Les Christie
and
"Mortgage denied despite perfect credit"  by Alison Kosik
I couldn't help myself and I read the articles.
The first point I'd like to make is that in my wildest dreams I cannot, and do not believe that either Les and/or Alison has … (2 comments)

 


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