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charlotte county mortgages: 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)

charlotte county mortgages: 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)

charlotte county mortgages: 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)

charlotte county mortgages: 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)

charlotte county mortgages: 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)

charlotte county mortgages: 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)

charlotte county mortgages: 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)

charlotte county mortgages: The Modification Failure - 06/10/11 10:45 AM
Stop and think for a moment;
how many people do you know personally have applied for a mortgage modification? and how many have been successful? if any.
I'm a mortgage lender and I know 1 couple, and they had to make a biiiiig concession.
Here it is;
I was allowed to attend the hearing and the first thing that the negotiator made very clear was
there will be NO balance reduction! NOBODY is reducing balances.
This brings up the biiiiig concession. While the mortgage holder was generous, in my opinion with the rate and payment reduction, the couple was still severely … (10 comments)

charlotte county mortgages: where do most of the oldsters live? - 05/31/11 11:40 AM
CNNMoney's Les Christie was nice enough to sort through some of the Census data to make a few points about our population.
So here's the answers to where the oldsters live.
like anything else it depends on how you figure it. If you use the new Census and base it on median age, it's not Florida, as you may think it's
Maine
Maine? really?
yup.
The median age in Maine in 2010 was 42.7, 4.55 higher than the national average and 2 years older than Florida.
Who da thunk it?
Three factors come into play;
low birth rate
outward migration … (4 comments)

charlotte county mortgages: It's TIME! (to turn short sellers into buyers) - 05/04/11 11:17 AM
I'm known to be the master of the obvious.
We're missing a traditional part of our market.
that being
those sellers who became buyers, either buying up, or often here in Southwest Florida, downsizing.
What happened? well you know. They're stuck with properties they can't sell, or have chosen alternative solutions.
Right now I want to address the short sellers, and I'll try to do it in more of a business related, rather than emotional fashion.
Why the "short sellers," because as far as I'm concerned they have attempted to act responsibly, to a bad situation.
Back to the obvious.
Both … (6 comments)

charlotte county mortgages: BEWARE! Strategic Default(ers)...We know who you are - 04/29/11 09:04 AM
Inman News reported yesterday that Fair Issac, the company that brought you FICO scores has developed a system to predict which homeowners are the most likely to engage in a strategic default, that being homeowners who have the ability to pay, usually a good credit history, but still choose to walk away from their property and the mortgage obligation.
They now have
"THE BLACK BOX"
My first thought is
So what
Mortgage lenders have always attempted to identify those who will default and hopefully attempt to prevent that default.
nothing new there
This isn't brain surgery here now. Who might … (2 comments)

charlotte county mortgages: Blogging about Bloggers (who explain why they blog) - 04/14/11 08:08 AM
why do I blog? let me count the reasons.
It seems, and I imagine appropriately so that most "bloggers" blog because it's part of their marketing plan.
Okay, that makes sense.
"the rain" supports this idea, I believe, as they are constantly posting pictures of members holding checks, with big smiles on them. The big smiles are on the members, not the checks, just to be clear.
Personally I find that a little tacky, but that's just me. "The Rain" has been berry, berry good to me, and yes it is part of my marketing plan, and yes it works very well, and … (9 comments)

charlotte county mortgages: RIDE the Wave (of) USDA/Rural Housing - 03/15/11 09:46 AM
I just got my USDA/Rural Housing Florida newsletter.
Hey Charlotte, Lee, Collier Counties
Catch the Wave
The headline from USDA read
Funds are available!
"funding for this program is not affected by the current Congressional budget debate"
Don't believe the rumors!
Allllllllllright!
USDA is issuing a big thank you to Florida lenders, here's why
Fl lenders have assisted 2,154 families with $262,454,483 since Oct. 1, 2010. During the fiscal year ending Sept. 30, 2010, they assisted 6,766 families reach their home ownership dream.
That's a lot of dough.
Okay Realtors, listen up
if you are not knowlegable or are not participating … (2 comments)

charlotte county mortgages: Why we ask for what we ask for (income), the basics - 03/12/11 08:49 AM
Okay, I will not be able to address everything, but I'll try to cover the basics, kinda like bullet points, without all the bullet points.
Tax Returns
I want the last 2 years, ALL PAGES. Please don't leave any out, and notice I'm not asking for just the first 2 pages. Beware this is the time of year when a self employed person does not have completed returns for 2010. Once the filing deadline has passed I'll need a copy of the extension. If the business is a corporation, corporate returns, ALL PAGES.
Also, a YTD P&L is a standard request. To … (8 comments)

charlotte county mortgages: The LAST Loan Officer Standing! - 03/11/11 09:32 AM
That's me, or it could be.
WHY?
Because after over 30 years in this industry
I still LOVE what I do.
I've got to admit though I've heard a lot of whining lately, a real lot. Here's a couple of my favorite isuues.
LO Compensation
I've started to see some postings about "LO compensation." That would be how I get paid. The uneducated legislators, particuarly Mr. Dodd, and Mr. Frank, have created new laws regulating my compensation based on being fair to the customer. Let me make this perfectly clear that while I disagree with Mr. Dodd, and Mr. Frank, I … (2 comments)

 


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