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mortgage: I Have My Localism Sponsorship, Now What? - Anyone Have Advice or Ideas? - 08/12/08 05:24 PM
Thank you for reading and replying to this post.
I am located in th 'Apple Capital of the World', Wenatchee, WA which is more or less in the middle of the state between Seattle and Spokane.  We have a good size growing community and seem to be lucky enough to be in an appreciating market.
I have been reading up on community sponsorship today and noticed ours was not taken, so I jumped on it.
Is there anyone with ideas on how they are going to use their sponsorship when they get it or has anyone been using it?  I have … (9 comments)

mortgage: So You Make More Money Now - Why Doesn't Your Credit Score Go Up? - 08/12/08 04:09 PM
Simply put, your income does not affect your credit score.  Whether you make 30k per year or 200K - you may share the same scores.
So that opens up the question - "What are the factors that affect my score?"
Here they are:
35% is based on your payment history for both old and new accounts. 30% is based on the amount you owe.  High balances are a negative in the eyes of a credit bureau.  As a rule of thumb, add up all of your 'limits' for your credit cards and compare the total to the total of your balances.  … (1 comments)

mortgage: What, me worry? No!!! And you shouldn't either! - 09/27/07 11:50 PM
You've all hear the news by now.  There has definitely been a change to mortgage lending, but is it really that bad?
Nearly every day, I receive a call from clients or business partners asking "How does this affect me?"  My answer?  It doesn't.  My business partners tell me, "this banker or loan officer was in the other day to tell us what kinds of loans we can not do anymore and it has the entire office worried."
In my experience as a loan originator, or a salesperson if you will, what is accomplished by this approach?  I don't understand it.  My response … (0 comments)

mortgage: Mortgages and liquidity - ALT A Loan Problems Explained - 08/06/07 12:26 PM
Anyone who has been watching the media withing this last week saw some big changes in the mortgage industry, including the all of a large national mortgage lender - but then again, we all like placing our loans twice, don't we?  If we are lucky, we won't have to do it a third time.
You can read about the lender here:
http://www.msnbc.msn.com/id/20144277/
The articles refer to 'liquidity' of the loans, which I thought I would offer a little insight to.
In many cases, lender will transfer a mortgage by selling to another lender.  With a non-conforming, or ALT-A loan, these mortgages … (1 comments)

mortgage: Vista & Encompass - 06/07/07 03:42 PM
Finally back to business and the blog with a little advice for those of you thinking about uprading to Vista.
MAKE SURE YOUR LOS SUPPORTS IT.  Most don't, and I found that one out the hard way.  Our company is moving from Genesis to Encompass.  Genesis is absolutely supported with Vista and Encompass is on the way.  The newest release, version 3.0, will take care of the issues.
I first received the CD to install the software, which does not work for compatibility.  It needs to be downloaded from the Ellie Mae website through a link and patched with another couple of downloads.
Even … (2 comments)

mortgage: Finally...The Secret to Success in Real Estate in Wenatchee... - 02/28/07 11:55 PM
...and it takes a local mortgage originator to figure it out.
 If you read the Seattle PI on Sunday of this past week you learned this:
Chelan and Douglas County are in the top 5 areas of growth for Washington StateChelan and Douglas County populate approximately 105,000 peopleOur growth has been approximately 14% (mostly retirees)Our median home sale price is $239,000Almost all of the growth areas contributed new construction as a large growth factorSo I have to ask this...our valley's median income does not support a $239,000 loan.
Where do we get our down payments?
Retirees? (Most are not from here...good luck.  Heard of a … (2 comments)

mortgage: Lesson for the Week - Listen to Your Clients (Buyers and Professionals) - 02/20/07 01:02 PM
One of the first things we learn as professionals in our business is to listen to our clients.  If that is true, then why is it not done by so many?
Here is an example:  In a recent dealing with a Realtor, the process was moving along on schedule until the closing.  At this point, I found myself answering the same questions over and over (regarding closing date) and thinking to myself...I hope my clients don't think that I don't listen to them.
It is very easy to get wrapped up in the day to day happenings and neglect things that require attention, … (1 comments)

 
Kevin_nelson_3x5_b

Kevin Nelson MLO-121548

Wenatchee, WA

More about me…

Mortgage Advisory Group CL-36130

Address: 1250 North Wenatchee Avenue Suite G, Wenatchee, WA, 98801

Office Phone: (509) 860-7197

Cell Phone: (509) 860-7197

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