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Blog entries tagged with "lenders":
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers
and brokers listed on this site. These real estate profiles, blogs and
blog entries are provided here as a courtesy to
our visitors to help them make an informed decision when buying or selling a house. ActiveRain
Corp. takes no responsibility for the content in these profiles, that are written by the members
of this community.
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It certainly is getting more difficult to find QUALITY 100% financing. The trouble in any transaction is having the selling agent, the listing agent and the buyer and seller trust the lender selected....there is no settlement without the money!For our part, we suggest to our buyers that they select a lender … (1 comments)
I am creating a Q&A list for packets to give to buyers and sellers along with my area information newsletter, and I'm trying to make a list of common mistakes and how to avoid them, but first figuring out the mistakes. Do you see any I missed, that you would add? I happen to … (27 comments)
STEP 1 - DEFINE NEEDS FOR YOUR NEW HOME Congratulations on your decision to purchase a new home! Your first step toward buying your new home will be to analyze your needs. Your real estate agent can help you determine exactly what you want your new home to look like and … (0 comments)
A modest home, a front path lined with flowers, smoke coming from the chimney, and yes -- a tree. We all have our favourites - trees to hold a swing, to provide shade, to fill a view, to freshen the air, or just to send our eyes skyward.
Ten Tips to Speed Up Your Home Inspection
I was amazed to see that a lot of first time home buyers were not aware of the many different programs that are available to them. In Pensacola Florida there is the state housing initiative program (SHIP) This program helps first time home buyers with down payment assistance if they qualify. … (3 comments)
Originally Posted on HomeFinancingNews.com In the wake of several high-profile lenders closing their doors, the mortgage industry is busy readjusting to a rapidly changing and increasingly difficult environment.
As I get more experience and more recognition in the industry, I get to meet many fine professionals that provide services that can be used by my clients and me. There are just so many of them.
You may have heard reference to the "Credit Window".You haven't? You will soon because it's closing!Don't worry, it won't close all the way, just part way.Maybe a little explanation is in order.The term refers to the availability and ease of granting credit.You've read the headlines and heard of the Sub … (2 comments)
According to the Modesto Bee, today's edition - 
Changes have happened with Mortgage Lenders- Protect your client's mortgage needs! Many lenders have made BIG changes to their programs and some might not qualify anymore for the program they were pre-approved. Follow up and make sure your buyers are still able to get the financing and the right financing!
Active Rain Professionals 
OK, not all lenders, but the ones who got themselves and many buyers into hot water. Aggressive subprime lending has caused an implosion in the subprime market. Many people who were in the middle of getting financing may be out of luck as some of these lenders go under. I had Steve … (1 comments)
I hope all is going well on your end. Our industry has been experiencing many changes. Some of our customers are having major delays due to tightened standards, and the recent closings of New Century, and Fremont. The purpose of this email is to suggest a possible solutions. The lucrative subprime … (1 comments)
Aloha All! What a great week it was..I had an uneventfuly closing, I took my first CRS classes (Ninja Selling 1 and 2) and I had the priveledge to work with an Active Rain member whom I had never met.Forget the first two items and lets focus on this "Active Rain … (1 comments)
Here is the latest news just received this weekend. 
Hello Rainers... I thought for all of you out there I would post this for your information.For the REALTORS out there, I don't know how much you may be keeping up with all that is going on in not only the subprime mortgage industry but also with the conforming lenders... There is … (1 comments)
Closing Dates 
Frustrated with your current lender? Wish you could count on your preapprovals? Or are you just in need of a mortgage lender who will go the extra mile for your deals? 
Well we're bust alright! I'm curious out there to you with me in the "trenches" of the day to day.. have you experienced any fall out from the mortgage implosion? 
I have a question. Do you feel loyal to one loan officer? 
Over 30 subprime lenders have gone out of business since December, 2006 including a company I used to work for. Where did all of this doom and gloom come from? How long has this mortgage lending implosion been in the making? I do have a theory. I believe it started in … (0 comments)
Fremont General Corp. has put a number of their employees on paid leave "pending further information" after the company was issued a cease-and-desist which prompted an exit from the subprime business.The cease-and-desist issued by the Federal Deposit Insurance Corp. (FDIC) demanded the end to 14 violations including ``unsatisfactory lending practices'' and … (0 comments)
Mortgage lenders are really starting to tighten their standards in the subprime lending area. The subprime customer is one with poor credit history, low equity, those who need to state their income or assets and especially those who want to go to 95% of the value or higher. This represents approximately … (2 comments)
We read about it in our newspapers, hear about it on the news and have seen it in our neighborhoods. Foreclosures are on the rise. Unfortunately, Indianapolis, Indiana has been in the top 5 states for the last couple of years. Why is this happening more and more and what can … (3 comments)
Determining how much home you can afford, or what payment you feel comfortable with, can be a trying process. Calling lenders, looking at mortgage loan programs and interest rates can be confusing, to say the least. There is an easy way to get started, and give yourself an idea of where … (0 comments)
I, like many other real estate agents, have a preferred lender list. It's tough to get on it and not tough to get pitched off of it. I hold my lending partners to high standards because I hold myself to high standards as well.
Non-Resident Mortgage Financing
In today's decisive world it's hard to believe that people are still being roped in to fraudulent mortgage offers. Case in point--
To all the realtors out there.
Today's featured partner is Greg Phillips who owns the website Business With Greg. Greg specializes in residential mortgages and his 8 years of experience help him provide excellent services to his clients. Greg works for Home123 Mortgage which is owned by New Century Financial. As a real estate partner of Greg's, … (1 comments)
Title companies,insurance agents,lenders and on and on, these are the people we refer clients to on a daily basis. Are those receprocial relationships for you? Up to now it sure has not been for me. But all of that is about to change.....
I would be interested to hear any members view on one of my frustrating subjetcs. Are Lenders responsible for late closings? I have been invloved in many many transactions and time and time again it seems it is the buyers lender who delays closing. Despite numerous calls from me reminding them … (13 comments)
Your credit history can greatly impact your life. It can influence your ability to obtain a mortgage loan and terms of that loan, along with many other aspects of your financial history. Many employers now include credit history as a qualifying tool during the hiring process.
We would like to introduce to you Virtual Escrow Technologies. Virtual Escrow is the most innovative Broker/Escrow tool in the marketplace today. Virtual Escrow Technology was originally designed for Broker-owned Escrows. This program is a one-of-a-kind Web-based, event-driven escrow software system. Several years ago, during the developmental stages of Virtual Escrow, … (0 comments)
Okay, tell me...Do you pre-Aprove your Buyers before you take them out to showings? How much information do you take from your Buyers before you go showing? If you don't do anything with your Buyer's before you show, please tell me that as well. I also have a question, if … (17 comments)
Ok, Now I know what your going to say...why not? Well, let me tell you why not..... if I am doing Real Estate full time I wouldn't dare be able to properly keep up with the legalities, new forms, laws, inventory, prices, marketing, servicing the listing etc.. if I were also doing … (24 comments)
Hey all,Just wondering if any of the lenders out there deal with non-recourse loans? I have local clients who would like to have more options in leveraging money in conjunction with a self-directed IRA. I look forward to hearing from anyone out there. Respectfully, Doug Miller … (0 comments)
No Major Purchase of Any KindReview the article titled, "Dont buy a car," and apply it to any major purchase that would create debt of any kind. This includes furniture, appliances, electronic equipment, jewelry, vacations and expensive weddings .Don't Move Money AroundWhen a lender reviews your loan package for approval, one … (2 comments)
10 Things a Lender Needs From You 1. W-2 forms or business tax return forms if you're self-employed for the last two or three years for every person signing the loan.2. Copies of one or more months of pay stubs from every person signing the loan.3. Copies of two to four months … (0 comments)
I bet some lenders have faced this kind of approach... Lenders, would you share your horror stories about clients who think they can get the moon for the price of a grain of salt? To make it ethical, don't share names or dates, but please don't hide the sordid details. They … (0 comments)
Back around September, I got word of some potential "deals" in a particular area of Dallas. When I heard what was going on, I immediately knew of some investors that would be interested. After getting more and more information, my initial investors were like, NO WAY!
Preferred Vendor Relationships (PVRs) are commonplace throughout industry today. Companies such as GM, Dupont, GE and Amazon.com are continuing to promote and grow these programs. They have found that these relationships result in better products, better service levels and reduced costs. However, in the real estate industry, PVRs haven't seen the … (1 comments)
There once was a Captain of a Pirate ship who always called for his red shirt before they went into battle and his pirates always cheered. One day a new pirate asked the Captain why he called for his red shirt before a battle.
I just saw an announcement that our fine legislators have passed legislatgion making PMI payments tax deductible in 2007.
Saturday I received a call from a panic stricken agent, claiming that her customer would not be able to make an offer on one of my lisitings. She went on to stay that she had just received a call from the buyer's attorney, one with whom she has worked with on … (34 comments)
With just a few days left until the holidays draw near, many of us are likely scrambling to make our final days of 2006 as productive as possible. Last minute deals, extensions, negotiations, listings, and of course holiday preparations. One word. Patience. If you are trying to close before the holidays … (5 comments)
I was at a closing tonight on a lender owned deal. This was especially nice since it was one of the few where an owner/user was getting the property instead of another investor.
A colleague sent me the link to an interesting study, which was published by Consumer Federation of America, http://www.consumerfed.org/ entitled, "Women are Prime Targets for Subprime Lending: Women are Disproportionately Represented in High-Cost Mortgage Market".
Why should a Borrower/Buyer choose a Mortgage Company vs. a Lender ?
I'm delighted to see that we have a lot of very experienced loan officers here at Active Rain. I am a full service Realtor and can appreciate that many mortgage brokers here provide full service and want to get paid accordingly. 
I had something happen last week that caught me off guard. An agent from another company had written an offer on one of my new construction listings. The offer was contingent on the sale of the buyer's current home. Needless to say, the builder would not accept the contingency, marked it … (36 comments)
Our Team typically handles between 160 and 180 transaction sides a year and we see all kinds of Lenders. The Good ones who still understand what it means to provide the customer and the agent with genuine service.(Very rare!) The Bad ones who could care less about service and surprise the … (1 comments)
What is Mortgage Fraud?Any "material inaccuracy" in the financial information disclosed by or on behalf on the borrower on behalf of the borrower during the orgination of the loan. It can be broken into 2 sub-classifications:Fraud for Housing (Borrower Fraud)Fraud for Profit/Commission (Industry Insider Fraud) While all fraud is an issue, fraud for profit … (17 comments)
A law was passed in California requiring brokerages to provide workman's comp for our independent realtors/lenders. Their basis is that realtors/lenders are really "employees" even though they have an Independent Contractor status! 
I almost made the title "Avoiding PMI Insurance" but I knew Jason in my office would jump all over my case for saying "Private Mortgage Insurance Insurance". 