Justynn's Blog

People don't want to make more money???

Justynn Royal (RMCN Credit Services Inc) — Mon, 12 May 2008 10:48:51 -0500

Sooooooo, I usually don't do this; especially not on an open forum like this...but I have to get this off my chest. Why don't some of the people in our business want to make more money????? I'm a National Credit Consultant for RMCN Credit Services, Inc.; but in reality Im a Business Broker. I was calling people today because we have alot of LO's and Realtors that we used in the past to place our client's with that were looking for a home. With the changes in the industry alot of the people that we were using in the past have gone, either out of business or moved on. This is a good and bad thing. The good thing about it now is that whomever I can find to take care of my clients is probably going to be experienced, ethical and go the extra mile for my clients. Most of the bad apples have been weeded out. Knowing this I was calling Mortgage Brokers based on word of mouth and the internet. I don't know if its because it's Monday...but I have heard 5 people say that aren't interested. How can you NOT be interested in making more money?? These are free referrals!! Who can't use free referrals these days? All you have to do is take care of the clients that I send you and I send you more. On top of that I manage all of your credit declines as long as they qualify based on their income, and I send them back to you so that you can close more loans. Now dont get me wrong, it's been a while since I originated a loan, and I have never been a Realtor...but I'm pretty sure that More Loans Closing = More Money. Loans that close from declines that they would have turned down and free loans from MY advertising budget. If you're really good my referrals will send YOU even more referrals!! Amazing how that works!

Ok, so /RANT OFF. Please feel free to give me input on why this is happening. AND if you are a talented, ethical, and hard working Realtor or Loan Officer give me a call or email. I rather use people from Active Rain to send my clients to, as I can see what you guys are all about from your profiles and blogs...I should have thought about that earlier :) Have a great day and thanks for letting me vent!

Consumers Beware!

Justynn Royal (RMCN Credit Services Inc) — Wed, 30 Apr 2008 15:54:34 -0500

Identity Theft is alive and well!! I have seen countless credit reports lately with fraud and identity theft written all over them. It starts when a client goes to buy a new car or apply for a line of credit. All of the sudden they are declined for the first time in their life and they have no idea why. People don't realize how quickly a few erroneous items on one's report can take a score down 100 points or more. Protect your credit! It's not just a number. Failing to take steps to clear the fraud with the credit bureaus could cost you hundreds or thousands of extra dollars on a home loan, a car payment or a credit card or insurance bill. Make sure you guys are checking your report every so often and make sure that you keep track of your open and closed accounts. Have a great day!

Debt Collectors on the Front Page of the Business Section??

Justynn Royal (RMCN Credit Services Inc) — Mon, 28 Apr 2008 14:14:06 -0500

I know that these days, the wonderful journalists who like to bring us the daily news like to push the limit on the truth and exaggeration. We have all adapted to that, its the world that we live in I guess. I mean just look how much attention a pop star who shaved her head and went crazy got! More attention than the war and the economy combined I'm guessing. I do have to admit, however, that even I was suprised by the front page piece in the Dallas Morning News Business Section. It was about Debt Collectors; their increase in revenue, ever increasing numbers of collection companies, and what consumers can do to help protect themselves. It was a very interesting piece, as I deal with the issue of credit every day just as most of you do, and I think that it points to how the economy is really going at this point. Now don't get me wrong, I know that the economy is in flux and is swinging up right now more than down. Our clients however, don't have the same insight that most of us do because they aren't in the financial industry. We all have clients with some form of credit hiccup or collection or something, but some of the scare tactics that I was reading suprised me (and I deal with these guys everyday). Some debt collectors demand larger payments, threaten rediculous and "dire" consequences and even reveal the debt to third parties to try and coerce the debtor into paying. All of these are not only silly, but also illegal. I'm glad that Pamela Yip chose to write a story about something that affects such a large majority of consumers around our country. Make sure that when you confront this issue in your clients' reports that you try to give them the most up to date information regarding the repayment and how it's going to affect their scores. It's up to us to be their guide because I guarentee that someone else is feeding them false information to not only hurt the customers credit profile but also to make all of us in the real estate and finacial markets look bad! To all my Active Rainers, keep up the good work and keep leading the people who trust you with their homes and financial futures into the right direction. I promise you will be rewarded with repeat business and quality referral sources for life!

Sales, the Economy and Credit

Justynn Royal (RMCN Credit Services Inc) — Mon, 14 Apr 2008 15:59:16 -0500

So I was watching TV last night, when a story about decreasing home sales, car sales and various other big ticket items were declining. Well of course they are is what I was thinking. The buying power of clients is going down as the cost of things are going up. Worse yet, most potential clients' credit scores are too low to qualify for the best pricing to make things affordable. When I was originating loans, I had about a 40% decline rate just due to credit; and with the new guidelines I can only imagine what the new % for most loan originators are. The funny thing is that unlike most other industries, loan origination usually involves a lengthly process that involves more than just the loan officer. Most of the time, especially on new homes, there is a realtor, sometimes a builder, and a processor etc. All of these people depend on the loan to fund so that they can get paid. Less loans that are able to be closed means less money for all. You can be the BEST realtor who ever lived, but if you have a client with a 500 FICO you arent going to get paid. In this "lean" market it is best to maximize your leads. Scrub down the former declines that had decent credit but were a hard sell. This is a buyers market entice them with deals! Let them know that their credit is their future right now and protect it. Educating your clients or pointing them in the right direction makes them a client for life, and we all know that clients for life are the ones who refer the most quality referrals. Right now its our long term clients who can make the difference between making it and not making it. Put the extra work in now and it will pay off later, because we all know that when the economy does turn around, its going to be the Active Rainers who are leading the effort and reaping the rewards!!