realtors: Underwriting Guidelines, What are they anyway? - 11/03/09 07:06 AM
Okay we know that just having a pulse doesn't work any more. And we know that the programs are no longer tailor made to meet evey applicants individual needs. BUT;
What are the guidelines now, anyway?
Conventional;
We still have Fannie Mae and Freddie Mac guidelines as a basis, and we … (11 comments)
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realtors: Don't SHOULD all over yourself! - 10/20/09 09:47 AM
Should is an interesting word. When I looked for its definition I learned that it is the past tense of shall. Should by itself, very often, isn't so bad. For example; I should have a good year this year. That's an okay statement, but let's add another, killer word, to it … (5 comments)
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realtors: Do ALL Buyers Need Tax Returns? - 10/05/09 10:13 AM
Actually YES!!! they do.
Here's Why.
On almost every file an underwriter is pulling a copy of the borrowers tax returns by using the 4506.
The 4506 is a form signed at the application, by an applicant, which allows an underwriter or investor to pull tax records.
The loan officer would … (10 comments)
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realtors: President OBama Please Help, Ban Cash Buyers, Now! - 10/01/09 01:03 PM
Mr. President,
We need your help! Please make this a priority. We need you to get legislation passed which will ban cash buyers, unless of course no one else wants to buy the property.
Think about it;
First, you're telling everyone how bad things are and here's all these investors running … (2 comments)
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realtors: TOO much CASH coming to Cape Coral, Florida !!!!! - 10/01/09 09:20 AM
I keep reading about the perpetuation of DOOM & GLOOM, so I gotta tell you I've got a BIG problem! You see I'm a mortgage loan officer in the Cape Coral area and there's just toooooo many CASH buyers coming into the area.
Let me make this perfectly clear!
Tooooo much … (12 comments)
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realtors: (RAIN) Power of the People! - 09/28/09 09:35 AM
Reminds me of John Lennon; "Power to the People," I can hear the music and John singing in my head. For some of you, you are just not old enough to remember John singing this. At that time, it was a protest type song.
Well in today's world Active Rain has … (7 comments)
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realtors: Are Stated Income Programs DEAD.....Forever??? - 09/26/09 12:28 PM
When I first started in the mortgage lending business there was no such thing as a stated income program. The self employed and commission income clients had to live and die on the merits of what their tax returns stated. Quite frankly, I do believe that the underwriters back then did a … (6 comments)
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realtors: "RAIN POWER!" It's AWESOME!!!!! - 09/18/09 08:18 AM
Okay, I've read the posts about the power of Active Rain and the google juice, well as they say a picture is worth a thousand words. So, if you've never done this before, Google yourself!
If you've been an active Active Rain blogger than you're going to loooooove the exposure that … (77 comments)
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realtors: Beware! of TOXIC Behavior, It's Everywhere! - 09/17/09 09:31 AM
WARNING, WARNING!!!
TOXIC BEHAVIOR is hazardous to your Success!
Toxic behavior by definiton would be a behavior that was/is poisonous.
Boy, that doesn't sound good to me!
Where will you find this you may ask? so that you may avoid it.
Well first, you really need to check out … (2 comments)
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realtors: A New Sales Technique: Try Answering Your Phone! - 09/15/09 08:18 AM
I've read a few blogs recently about returning phone calls. It made me think about the good olde days, you know, before voice mail.
Oh, how did we ever survive?
So what I'd like you to do right now is stop for a few minutes and think about how you feel … (12 comments)
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realtors: Another One of Those, Oh No, OH YES! - 09/10/09 09:18 AM
Every year just like clockwork here it comes. It's time for another birthday. For me it's also a time for reflection and I'd like to share a few thoughts.
On Friday I'll be 75, oops there's that dyslexia thing, I'll really only be 57. As you get older you're allowed to … (8 comments)
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realtors: Let's Hear it for Port Charlotte, FLA! - 09/09/09 12:34 PM
YEAAAAAAAAAAAAAAAA!!!!!
I hope God doesn't strike me down for using CNN as a source, but in my own defense, it does state that the article comes from the editors of Money Magazine, if that's any better. But so what about the source, this is extremely positive news about Southwest Florida, so … (1 comments)
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realtors: Slowing Down the Mortgage Process - 09/09/09 07:39 AM
Okay, I've had enough, actually more than enough.
HVCC was tolerable, although ridiculous and unneeded. Let's make sure that we keep those low life loan officers and processors away from the appraisers so that they can do their job.
If this is such a vital requirement why is it not an … (6 comments)
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realtors: Change that 'TUDE - 09/07/09 09:24 AM
Some blogs are just fun! They generate constructive and intelligent comments, and they make us think. Also, I confess to being
"Mr. Positive"
at least most of the time.
Every now and then someone wants to point out
"the reality of the situation"
Pleeeeeeeeeeeeeeeeeeeease, no not that! You know it's going … (6 comments)
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realtors: The Coulda, Shoulda Club of 2009! - 09/05/09 09:52 AM
You don't even need to sign up to be a member!
What a great deal!
This is an incredible Club!
So how do I join? Just repeat after me.
I COULDA bought that property for $10,000 less back in January!
I SHOULDA made that offer instead of waiting!
Okay, you're … (48 comments)
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realtors: "What's the Rate?" - 08/26/09 10:53 AM
Why is this the first question that potential customers ask? Actually it's quite simple. In most cases they don't know what else to ask.
This use to be a fairly easy question to answer. I'd really only need some basic information such as primary residence or investment property, FHA or VA, … (2 comments)
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realtors: Introducing "the Worry Free Mortgage" - 12/17/08 10:33 AM
The "Worry Free Mortgage" sounds pretty good, but can there really be such a thing?
Well, I'll let you decide, and remember nothing's perfect, so be nice.
What makes it "worry free" you may ask?
Good Question!
It's basically a first time homebuyers program, but remember in the mortgage business … (2 comments)
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realtors: Forced to Listen!!! - 09/30/08 09:08 AM
If the elections weren't so close the bailout would have passed. There's little doubt in my mind.
Fortune reports that calls to Congressional offices are running overwhelmingly against the bailout plan.
Because of the upcoming elections our elected reperesentatives were;
Forced to Listen!
That's if they would like to continue to … (9 comments)
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realtors: Hey Sec Paulson, WHO'S gettin the Dough??? - 09/28/08 10:52 AM
Okay, you've gotta know. You hopefully didn't just pull this number, 700 Bil, out of thin air, or did you?
So who gets what? How about a little breakdown. Let's just start with the top 5.
You know, like 5 Bil to ______?
25 Bil to _______?
Share this info with us … (7 comments)
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realtors: The Federal Reserve, Our New Subprime Lender! - 09/27/08 09:05 PM
Okay, you've got a customer who needs a loan BIG TIME!
I mean that they're on their last leg.
They've made some really, really bad financial decisions, so they won't qualify for a loan through conventional/traditional sources.
They're defaulting or soon will be defaulting on their financial responsibilities.
It's questionable as … (4 comments)
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