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agents: How to change your business and thrive in the upcoming depression - 02/28/09 09:36 PM
I am constantly reading and researching for myself and the clients I serve, and I've come to some rather grim conclusions, sprinkled with some hopeful solutions. Currently we are witnessing the greatest financial meltdown in world history. It's not just a maybe anymore, it's a guaranteed certainy. Those whom have stood like a deer in the headlights need to start moving towards where the money is going to be.
First let's establish some salient facts before we all drive off the edge of the cliff.
The US dollar is going to collapse in the near future. The Dollar has … (11 comments)
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agents: Suitability, something that mortgage and real estate agents better worry about! - 12/21/07 03:50 PM
What does suitability mean? If your a financial planner and you've passed your series 6 or 8 license requirements, you know that suitability can apply on many levels with each client. I was speaking to one of my neighbors who happens to be vice president of one of the largest insurance groups in my state. He told me that he fully expected mortgage brokers to eventually receive the same scrutiny that most of his colleagues faced in the securities industry. He told me that many of the products were now merging into each others markets, and little did he know about … (0 comments)
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agents: Real Estate Agents, if your thinking of yelling at your lending friends...DONT!! - 08/09/07 10:13 PM
For those real estate agents that love to brow beat their mortgage partners in regards to their fee's...ATTENTION...We're not going to take it any longer. Bottom line, we're getting crushed, and if your going to expect a 90% non-owner closing, and that the client pay's no fee's, think again!
Sorry to fume, but I was just beaten up on a 90% non-owner deal which is becoming rarer then sightings of Michael Jackson. The problem with this deal was that the lender wouldn't let us lock a stated 90% deal. We suggested that they get a 90% stated loan with MI, but they didn't … (1 comments)
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agents: What I expect from a real estate agent - 02/07/07 08:32 PM
I just wrote a blog criticizing a couple of real estate agents in my local market. The criticism was based on actual experiences and it was interesting the response I received from some of the real estate agents that contribute to this ActiveRain community. It does seem that when any agent is criticized then the rest of the agents come to their rescue. I was a little disappointed in the responses, because I clearly thought that they'd be better responses as to how they personally market a clients home. Was the lack of response based on fear that trade secrets would … (7 comments)
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agents: Trust your referral partners - 01/12/07 08:44 PM
I've been working with a referral partner in another state for some time. She happens to be one of the most highest producing agents in her market. I was referred to her through a friend and over a six month period of time she would send us an occasional loan. One thing we noticed early was that she was exteremly protective of her client. She would be the go between on all communication with the client. She wanted to be involved in any conversations we had with her client, and our mistake was to allow this type of pattern to set in … (5 comments)
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agents: The new wave....will you be a part of it? - 12/16/06 01:03 AM
I've noticed that some of the real estate agents on active rain may not know to much about a new wave that is sweeping through the mortgage industry. At first glance it probably sounds counter productive. Phrases like "ripping equity", "missed fortune investing", and " Fully funded insurance investments", do not sound like profitable real estate marketing opportunities. And some of you are in fact right with some of the "new" mortgage planners that are being enrolled through Douglas Andrews Team seminars, or other guru's that sell this no philosophy to the masses of mortgage loan officers.
However, as this new movement … (4 comments)
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agents: Interesting non-scientific test with new mortgage recruits - 09/28/06 01:56 PM
I've been in charge of training new loan officers for the past year. It's been both rewarding and frustrating at times. I've noticed that each new recruit comes in with unique reasons why they want to be mortgage professionals( I use that word lightly). I've noticed one basic ingredient that if missing will result in a early departure from this profession, and that is their willingness to meet and network with new people.
One early homework assignment we give every recruit is that they put together an excell or CSV list of all people they know or associate with in any capacity. … (9 comments)
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agents: Hard money equals hard headaches - 09/09/06 01:15 AM
Anyone who's been through a hard money transaction may know what I'm talking about. It's a whole new ball game then normal residential lending. Especially when it involves a purchase deadline. I have a guy buying a "big" home. His scores are 30 points to low, but he got himself into a bind with the sellers, and so when I was approached he was in danger of losing $50k hard to the selling agents. I have a good hard money source that will do up to $3 to 5 million in a pinch, but they're picky about the value and what the … (7 comments)
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