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loans: How busy are you really? --Customer Service -- From an FHA Expert - 06/12/07 02:36 PM
After I lured the client in, calling them back on time, many follow ups with e-mails, they are now committed to me. HURRAY..... Not only was I very NICE, but I was always available and helpful. But wait, you now have been trying to get a hold of me for the last 2 to 3 days. You leave me messages and e-mails. Maybe you just assumed that I am very busy, because I seemed so helpful. That I have so many customers. Maybe I called you back and said I am busy, that I will get back to you later. But … (17 comments)
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loans: The difference between a Pre-Approval and a Pre-Qualification letter. - 04/10/07 07:49 PM
Do you know the difference, as a consumer or even as a realtor? It can be deceiving when shopping for a home, because you might think that you are fully approved, but you aren't. Why doe this matter? There are several reasons why.
Pre-Qualification Letter
Just a standard letter by the lender stating that they have either verified your information over the phone or from your originals. The loan officer will review the information, anything from credit, to income, and with regards to assets. They then will place you in a certain program and go over the details with you. Usually … (35 comments)
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loans: Marketing YOURSELF or your COMPANY...... Part 1 of 2 - 12/30/06 07:32 PM
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The longer that I am in the mortgage and real estate business, the more I have been a true believer that it should be all about me and what I can do for you and your clients. When … (75 comments)
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loans: When a client says that they will follow you for life…. WHAT A NATURAL HIGH…. - 11/01/06 10:05 PM
I have been doing this for over 14 years now. Helping those to finance their new dream, may it be purchasing that new home or refinancing their current home for several reasons. Even helping those investors that want to add to their portfolio.
I have talked to several of you on the phone from Active Rain and overall, I just love Active Rain. The continuous networking, a great Team (Caleb & Matt) that keeps this site active and improving daily, great people on here with great ideas, and just to be able to express yourself and feel like you have friends all … (9 comments)
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loans: Shoppers that shop themselves right out of the market…… - 10/25/06 10:30 PM
People that over shop, looking for the best deal; can certainly even bring down the best of a sales person’s moral. This can be tiresome for the good realtor or loan officer that has to deal with these types of clients on a weekly basis. Most of us are here to help in one way or another. Sure, we all need to get paid for what we do. And some of us have our own ways of doing things. But when it comes down to deceiving the general public to make a quick buck, this is where it … (25 comments)
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loans: Purchase Contracts (agreement of sale) VS Assignment Contracts - 10/23/06 02:46 PM
This is something that is starting to show up more and more in todays' industry. Nowadays, a realtor might not see this as often as a loan officer would in todays market. The reason being is that investors are the people that are using assignments more than your normal purchase agreements and usually use hard money lenders for their financing.
This is a defination directly from a financial dictionary. Assignment Contract: A contract with a provision permitting the contract holder to convey his or her rights of assignment to a third party. This enables the contract holder to assign the rights and … (24 comments)
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loans: Rules that aim to cut the risks on 'exotic' mortgages!!!!! - 10/21/06 11:54 PM
After being on Active Rain for almost 3 weeks now, this has been a big topic of discussion and growing concern. We have talked about the “Pay Option Arm” and the “Interest Only” loans that seem to be the most at risk for today’s consumers. Both of these products have shot up with home prices. And critics say not all buyers know what they are getting into.
Federal financial regulatory agencies are concerned that buyers who use these so-called exotic loans could be at risk. Especially the subprime borrowers and others who may not qualify for more traditional mortgage loans or who may … (35 comments)
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loans: Beware of REBATE CHECKS in the mail....... - 10/18/06 11:47 PM
READ ALL THE FINE PRINT...... This should be the first thing that you do when you get a rebate check in the mail. This has become an epidemic nationwide, preying on those that think they have free money. If you notice, the majority of the checks are all under $5.00.
By reading the small print at the bottom of the check, it will state that when cashing the check, you become a preferred member of an agency. By doing so, the agency provides discounts to grocery stores, home improvement stores, and sometimes telling you that you will receive a free credit … (12 comments)
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loans: Networking Groups..... How important can they be to your business..... - 10/18/06 12:19 AM
I was asked my opinion the other day by a loan officer in regards to the Chamber of Commerce. Everyone has their own opinions and thoughts, but my experience with our local Chamber of Commerce has been average. Don't get me wrong, any networking group can be beneficial in so many ways.
Let's start with one that I am familiar with. Le Tip International. http://www.letip.com/ They are in 22 states now and Canada. The basic foundation behind this group is that you have 1 person from each type of business. Meaning that you would have only have 1 realtor, 1 loan … (21 comments)
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loans: Walk-Throughs: The Aftermath…… what to do about it or what can be done - 10/15/06 07:37 PM
What to do when you give up your right to a walk-through last minute. I had a client back in June that was buying a home as a 2nd home near the shore. It wasn't the easiest of deals on my end because I had to do a stated income with 10% down. Most of all, their credit score was right on the bubble and just average.
Well, I had to delay the settlement for 4 days because their credit score dropped a few points. Now it's funny, because I have talked about the baiting & switching methods from other lenders. But … (6 comments)
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loans: A Predatory Lending Bill that is SLATED for 2007 & what does this mean........ - 10/14/06 04:55 PM
It starts with the Republican and Democratic leaders on the House Financial Services Committee. They are planning to make predatory lending legislation a major priority next year, regardless of the outcome of the November elections.
Now, with this in mind, whose better interest do they truly have in mind; the borrower or the lenders out there. I know there have been several blogs and comments made on behalf of this topic. The most recent of which was from Roberta Murphy, Predatory Lending and Decadent Spending , which gives us a great example of what can take place after the fact.
Predatory … (6 comments)
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loans: Seminars to Train Loan Officers as Mortgage Planners...... - 10/13/06 11:38 PM
I have read several blogs in the last several days in regards to loan officers and their ability to actually helping the client with concrete and correct decisions. Those decisions that I am talking about are not those that would put money in your pocket quickly, because the client tells YOU, the loan officer, what they want. Sure, I believe in giving clients what they ask for, but if it could hurt them than help them, then are you truly doing your job?
ABC (American Brokers Conduit) is actually sponsoring 3 day training seminars which covers such concepts as financial market … (11 comments)
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loans: Infomercials...... How many of you watch them? Are they real? - 10/10/06 08:13 AM
INFOMERCIALS….. what can I say? It’s sometimes like watching a comedy show. How many of you get suckered into this? Hey, I admit, I sometimes think I should call. Ever see the new lipo-pill? It reduces your fact from within, never needing lipo-suction. LOL I was like, gee, that would be great. Then I said, “wake up Jeff. Get real.”
Infomericals arose because of the deregulation during the 80s involving television. But these originated on the radio at first. There are just countless infomercials on TV. 100's of 1,000's are made a year. But have you noticed that 99% of them are … (13 comments)
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loans: What's the difference between a mortgage banker and a mortgage broker. - 10/06/06 10:58 PM
My name is Jeff Belonger and I am with Infinity Home Mortgage Company. I am a Branch Manager and a loan officer. I have been in the mortgage industry for over 14 years. I have been with some large lenders, some small ones, and a few in the middle. The largest company that I was with was Norwest Mortgage, who merged with Wells Fargo. But before that merger, we were the number one lender nationally at that time.
There has always been this argument that you shouldn’t go with a broker because they are a middleman. They charge higher rates and higher fees. Then … (19 comments)
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Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
Cherry Hill,
NJ
More about me…
Social Media - Infinity Home Mortgage Company, Inc
Address: Cherry Hill New Jersey 08034 08002 08003, Haddon Heights New Jersey 08035, Haddonfield, NJ, 08033
Cell Phone: (609) 440-5133
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