American Marketechs Proudly Present the VeteranRelocators.com Web Portal!
Hello Everyone! I apologize for having been gone so very long. I have been working diligently on the project I last posted about, nearly a YEAR ago! VeteranRelocators.com is nearing its launch!
It has been a long time coming, but we are ready to launch our new network of portals to assist in Veteran Relocations, globally. We are excited, energized and honored to be providing these services to those who have served our great country so diligently and without reservation and for so long.
The idea, as you may recall, was to create a network of websites that will allow the U.S. Armed Forces Veteran to realize a tangible cost benefit in not only a real estate transaction (albeit the largest benefit) but in just about every imagineable product or service provided by our affiliates and sponsors, as well. This, of course, will be above and beyond what we as RE/MAX REALTORS® will provide.
The beauty of this program is that it is a RE/MAX affiliate program AND one where U.S. Military Veteran Agents are providing the services rendered to the Veteran consumer. We have had amazingly positive feedback and have yet to "officially" launch the program and portals. We think this program, entitled "Veterans Serving Veterans", will be a phenominal success for all who participate; this is truly a "Win-Win" solution for all U.S. Military Veterans.
We are very excited to be unveiling this initial launch at the RE/MAX Convention in Las Vegas, March 2 - 5, 2009. Please stop by Booth #118 and visit us to discover more about the program and its benefits to everyone participating. Feel free to simply stop by and swap business cards or just shake hand with us; we'd love to see all of you!
Again, I am back and look forward to actively blogging here as well as on our portal sites, for the benefit of all Veterans, as well as RE/MAX and all its affiliates!
Wow...I find it hard to believe that I will reach 10,000 points so relatively quickly (please, no laughing)! I really have enjoyed meeting so many people so quickly and find this tool (AR) to be an awesome way for like-minded professionals to meet and discuss pertinent issues that effect our industry and career choice.
I will, of course, continue my normal blog posts with current and relative content, but I just wanted to say THANKS to the creative minds at Active Rain and THANKS to those professionals that have helped continue my interests in this tool. I look forward to moving quickly to 20k, even quicker than the first 10k...no worries, its not because I cherish the numbers, its all about the discipline of taking the time to share.
Ok, I will now commence my story, where I left off prior to my "Vacation", hoping to bring smiles to the few faces that actually read and subscribe to my babblings.
So, when we last left our suspense-filled story , our "Loan Counselor" had finally heard the halftime whistle for the paper football game he had been engaged in, while my clients eagerly awaited his response to their application. He was so very proud to show his intellectual prowess and in a moment of brilliance came to the table with a GFE that was substantially lower than the one provided him, a week prior.
The clients are now enraged. They immediately call The Loan Professionalin an effort to secure the last GFE provided by a reputable firm.
Uh oh...I see my fellow readers are cringing again!
Yup, that's right, the Loan Professional reluctantly informs them..."Folks, I am truly sorry; had you only contacted me just 8 hours ago at the "Opening Bell" this morning, I would have been able to secure the GFE as promised. Unfortunately, at this point, I am afraid that the best I can do is an increase of .25 percent, to a rate of 5.5%. That said, I can still "kick the teeth in" to the rest of those charges provided for closing costs by your "Builder's Lender" and "Loan Counselor", which by the way are not even accurate due to the VA funding fees being inaccurate on the GFE provided by His Royal "High"ness.
The clients are now absolutely in a "tizzy". With smoke bellowing from their ears, they decide to write "The Builder" a letter of complaint, in an effort to attempt to rectify this blunder and still somehow realize the advertised "incentive" for closing costs to be covered by "The Builder". In this complaint, the clients decide to include The Loan Professional's GFE, and cover letter stating the time-lines for him to have been able to execute the original GFE provided to "The Builder's" Sales Professional. You remember, the Sales Professional that said, "Oh, I don't see any reason our Lender won't be able to match this...let's see what they come up with."
Ok, so here's the complaint...oh, and it is their complaint not mine, so please excuse the Grammar and or misspellings, etc... ;)
March 7, 2008
Dear :
On Thursday, February 28 th , we signed a purchase agreement for a spec. home, Lot # ____ in the ______________, AZ. On Friday the 29 th we submitted a cashiers check earnest money and on Saturday March 1, completed the on line loan application with ________. At the time of completion, it was written that a shocking disparity between the GFE provide from Nova Home Loans and this new GFE provided by _________; we immediately became concerned.
We had spoken to our representative from Nova on Wednesday evening, March 5th, just after close of business, ensuring that our current GFE still was an accurate assessment of our opportunities with Nova Home Loansand he assured us at that time, the GFE still stood. It should be clear to everyone to read this complaint that the only reason we did not move forward with Nova at that time, was purely because we had believed ______________'s representative's statement regarding the apparent ability for ____________ to match Nova's GFE, coupled with the $4500 incentive towards closing costs.
After receiving the GFE from __________, we immediately contacted Nova Home Loansthe very same afternoon, within hours of receiving this information provided by _____________. Our lender told us that since so much time had passed since the original GFE draft, and with the volatility in the markets just on that day alone he would be forced to increase his GFE by a bit himself. That said, his GFE (enclosed/attached) is still a huge leap from ______________'s provided GFE of the same day.
Because of the delay in ____________'s response, we can no longer lock in the interest rate that was quoted in the initial GFE from Nova. This has now created an additional cost to be incurred by us for no other reason than a delayed response time. Had _______________ responded within the time period, stated in _________________'s own response to our online application, which we created in good faith following explicit instructions from the ________________ sales representation, and matched the GFE as was indicated, we would have had no closing costs and a lower interest rate. When _____________ finally did contact us, not only was their interest rate over inflated but the incentives offered now appear hollow, without substance, and merely “bait and switch” or “shell game” type processes. We discovered ___________ pricing way outside the parameters of comparable GFE, not only at a much higher interest rate, but inflated closing costs as well and truly not even accurate!
Because of the above stated position and facts, we believe _________________ is in violation of RESPA guidelines as we have researched them and under the complaint directives found online at http://www.hud.gov/offices/hsg/sfh/res/reslettr.cfm.
We adamantly and respectfully request these unfortunate events be addressed immediately directly with us or with our Realtor representative, Dan Grammar.
Thank you,
Ok, so I'm sure you all are on the edge of your seats, breathless with anticipation... Tune in next time, when we hear the Builder's Lender call The REALTOR (yes, that's right, not the client but THE REALTOR!) and say..."Ok, enough with the email crap..."
This story is long overdue; as you can see by my last blog post, I've been taking some time off. Wheeeeeeeeeeeeeee!
A local Tucson Lending Guru and Buddy of mine, posted a resent blog entry regarding the RE/MAX Balloon and my Tucson Real Estate RE/MAX Team located here in Sunny Oro Valley, Arizona! He posted this entry just prior to my "R&R" time and I have not had the opportunity to thank him for including me in his posts. Thanks Mike!
I won't go over all of what Mike said in his posts...it would really be too embarrassing anyway! Flattery will get you everywhere! :) I just wanted to throw a couple more pictures out there of that ride and to show you just how gorgeous it is here in Sunny Tucson, Arizona and the surrounding communities of Stone Canyon, Oro Valley, Saguaro Ranch, Green Valley, etc. As you will see in these pictures, my wife Victoria Grammar (also one of the best RE/MAX Professionals in Arizona), went along for the ride. Folks, there is no one I have ever met that is more petrified of heights than her, and I would point you to the permanent grin plastered on her face in these pictures. This is a MUST DO if you are a RE/MAX Agent! We both had a ball that day and have since given up our opportunities for rides to our clients...
WOW, what a tremendous reaction we found that idea to provide! Referral stream anyone? <INSERT SCOOBY LAUGH HERE>
Please enjoy these pictures and let me know your thoughts!
Vacations - The Natural Elixir For Staying Power in Real Estate!
I know, I know, I heard all about not posting for over a week or so now. BUT, I have my reasons!
Just so you that you know that it wasn't due to procrastination, lack of content or creativity, or even a paper football tournament, I will now include you on my little "Secret to Staying Power in Real Estate!"; VACATION!
For those of you whom might find that word a bit foreign to you, here's a definition:
Vacation \Va*ca"tion\, n. [F., fr. L. vacatio a being free from a duty, service, etc., fr. vacare.]
1. The act of vacating; a making void or of no force; as, the vacation of an office or a charter.
2. Intermission of a stated employment, procedure, or office; a period of intermission; rest; leisure.
Note the last words in this definition..."Intermission, Rest and Leisure"...ah yes, all too often talked about and one of the least respected aspects of a true business model. I am a workaholic, that's true...but, thanks to my friends and family, I get the necessary reminders of how important "Rest & Leisure" is!
We had some friends drive in from Frisco/Plano, Texas (where we now, of course, plan to deploy the http://www.PlanoHomeSales.com and http://www.FriscoHomeSales.com RE/MAX portals...let me know if anyone in those communities might be interested in participation there, just as a side note. ) this past week and we had an absolute ball! We participated in all sorts of shenanigans during this time, so I will only bore you with a few pictures from our trip to play in the snow on Mt. Lemon, just 45 minutes up the mountains surrounding the North boundaries of Tucson, Arizona. We traveled the short trip from Oro Valley, right up the mountain in no time. What a excellent quick day trip to find yourself playing in the snow (45° weather) in the morning, BBQin' in the afternoon (80°) and relaxing in the spa in the evening (65° - 70°).
Enjoy the pictures but don't forget the reality...YOU NEED TO TAKE TIME OFF!!! There is NO better way of recharging your business batteries and solidifying the most important relationships in your life...your family and friends!
Oh...not to worry, I will again pick up with my RESPA vs. RESPECT soap, first thing tomorrow. :)
So, when we last left our suspense-filled story, our "Loan Counselor" had yet to "counsel" my clients and the clients, still clinging on to the advertised and contracted "incentive" from the Builder's Lender to cover up to $4500 towards closing costs, waited patiently to hear how great news from this busy executive, might change their lives.
We reflect back to the contract date of February 28th (a Sunny Arizona Thursday) and the following day when the clients submitted their application to the Lender, from whom the response,
"Thank you for visiting __________________ to start your loan application. Your information has been received and your confirmation number is: XXXXXXXXXX.
A member from your own ______________ team will be contacting you within one business day to schedule your appointment with your Loan Counselor to review and complete your loan application in order to discover the best financing options available for your individual needs.",
was so kindly provided, only as a good reference point when reminding the reader that we pick up the story a full 7 days later. Well, Thursday came, and market (stocks & bonds folks...with an emphasis on bonds!) market volatility reminiscent of a roller coaster at <insert your favorite theme park here> continued...and yet again, without contact from the "Loan Counselor". I had placed a call into the site sales agent to inform her that we still had not heard from the Loan Clown...er, I'm sorry that slipped, I mean, Counselor.
By noon, I began to become even more frustrated, as I had not heard back from anyone and my client was asking me what I thought of the lack of response. <insert thought bubble here reading "Incompetence?"> I really felt that I could hear the impending screams, as I just knew what was about to happen once we did finally get a response from the Loan Counselor. Still holding hope and with a iron-clad grasp on that "incentive" towards closing costs, my client, believing that his worse case scenario was simply the GFE that was provided to him the week prior, would still be able to be honored, he said that he was willing to wait until later that afternoon to hear back. *sigh*
2:51 PM, you guessed it, the "Loan Counselor" calls...er, I mean, emails! You ready for this...
"Attached is the GFE from __________________, I can not come very close to the rate you're getting from _____________. On the GFE that's attached I bought down as far as the incentive would let me and keeping your out of pocket cost to a minimum, about $____. I also cut the origination fee from _% to_% to try and help.
I would suggest you lock in with ____________ today if they can in fact give you that rate. Let me know if you have any questions or concerns and who you decide to move forward with.
Thank you,
<insert expletive here>"
Huh? Wha? Yes, that's right my new blogging fans, the "Loan Counselor" provides a GFE with an associated interest rate of 5.75% (after a 4 point "buy down"). Anyone surprised at this point??? Awwww...really? Ok, not to disappoint...this gets better! <cheesy organ music begins to play in background>
Tune in tomorrow when the client says..."What the fluffity, fluff, flluf,..." and the "Loan Professional" says...
So, in our last post we saw Lender's cringing, Agents incensed, and Loan "Counselors" playing paper football, in thier "spare time". Today...the rest of the story.
Well, my clients, still believing in the "system" and wanting to give the benefit of the doubt to the stated response time of "one business day", waited Monday, 3 March to pass, as it did and without response from the...
"Loan Counselor"...
I might add. I left a message with the site sales agent, with whom the clients had contracted, as her voicemail said she was out of the office on Mondays & Tuesdays.
On Tuesday, I called my client to let him know that A) I had not heard back from the site sales agent and that she apparently would be returning to the office on Wednesday and, B) The market had been quite volitile the last two days and he should give some serious thought to locking his rate or at least speaking to the Loan Professional that had provided him the GFE the week before, and ensure that he could get the same rate. The client stated that he thought for sure that even if the "Loan Counselor" had perhaps received his application, submitted on Friday, on his desk on Monday, then perhaps Wednesday for certain, they'd come through, and he really didn't want to jeopardize his incentive for the Lender to pay his closing costs.
Ooooooooh, I can see some of you L.O.'s out there cringing again!
Of course, Wednesday morning comes and goes and I put in yet another call to the site sale's agent, asking just what is going on out there and requesting some sort of contact to at bare minimum, my client, and to me, should they find the time as well. *sigh*
Wednesday afternoon, I receive a call from the site sales agent...she had been under the weather that morning and had not as of yet been into work. She said she was planning to go in and check on "the file" and would get back to me as soon as possible. I called my client immediately and relayed this information and again suggested that he call his Professional Lender, immediately as we continued to see market volitility and there would most certainly be potential for rates to reprice. Again he reminded me that his sole concern was the incentive provided for closing costs and his belief that the site sales agent's statement of the Loan "Counselor" being able to meet his provided GFE was enough to allow him a bit more latitude.
Frustrated, I called the Loan Professional that my client had initially been working with and asked him to call the client directly and at least educate him to the potential dangers of inaction on his part in such a volitile market wherein interest rates looked like stock trading orders. He agreed and called the client. The client asked him, at that time, "Can you still provide me with the rate the GFE stated last week?". The Loan Professional stated that he in fact, amazingly, could, should he lock that day. This was enough to provide confidence in the client that the "Loan Counselor" should be able to do the same, as soon as he would find time to contact him, thus not jeopardizing his closing cost incentives by locking the loan with the "outside lender".
Wednesday came and Wednesday went...
Tune in tomorrow, when, <insert suspenseful music here>, Thursday comes and...
"R-E-S-P-E-C-T...Find out what it means to me.." lyrics we all have heard from the ageless voice of Aretha Franklin; I think "The Queen of Soul", gets it and I know, we all want it.
It seems like it would come natural, but I think we all know that is not always the case. Actually, I am amazed at one of my latest transaction's lending debacle and thus the nature of this post. Amazed may not actually be a fitting term, confused, shocked, incensed...well, you get the picture. I think all the REALTORS® I know and of course all the LendersI know as well, know what RESPA is.
For those consumer types and for the edification of those who are unaware, the Real Estate Settlement Procedures Act ( RESPA ) is a consumer protection statute. The stated purposes of this statute are two fold, according to HUD site. I feel certain that you will find more protection than just the following, but, again, according to the HUD website @ http://www.hud.gov/offices/hsg/sfh/res/respamor.cfm, "The purposes of RESPA are:
to help consumers become better shoppers for settlement services and
to eliminate kickbacks and referral fees that unnecessarily increase the costs of certain settlement services."
I think anyone whom is familiar with this statute will agree that there are thousands of situations that will fall directly within the associated definitions of the protections that RESPA was founded upon. So, that said, my blog content this week (yes, I've deviated from the "That Guy" story a few days, in order to cleanse my soul <smile>), albeit overly verbose I'm sure, is about the idea of skirting RESPA (perhaps) but falling way short of decency and RESPECT.
So the story begins last Thursday, February 28th when my clients, after several months of searching, decided to "ink a deal" with a local builder here in Sunny Tucson, Arizona! My clients came into the purchase well prepared. We had negotiated our terms prior to setting up the appointment and came to the table with a local lender's GFE in hand (complete with a 5.25% Interest Rate and closing costs to the Buyer well beneath $4500). This all, in an effort to show quality buyers that were/are ready, willing and able to move forward in contract in good faith and with a sound financial ability to close escrow in a timely manner.
We presented the sales agent with the GFE, and she said "I see no reason that our Lender, would not be able to match this...", at this, my clients "leaped for joy"! You see by using the builder's Lender, the builder advertised that they would then provide up to $4500 towards closing costs. Ironically, there was an impending sales event that was to start, just the following day, which of course would have been appropriate for a Leap Year Leap. The builder in which I speak will, of course, remain anonymous.
The sales agent then reminded my clients that it was the utmost of importance for them to complete application with the assigned Loan Officer as quickly as possible. They were anxious to get this completed and to move forward towards closing, prior to "Tax Day" of April 15th. Naturally, they left the office and the very next day, completed the application, as per their instructions. The following is an actual excerpt from the response from the accepted application:
"Thank you for visiting __________________ to start your loan application. Your information has been received and your confirmation number is: XXXXXXXXXX.
A member from your own ______________ team will be contacting you within one business day to schedule your appointment with your Loan Counselor to review and complete your loan application in order to discover the best financing options available for your individual needs."
I can already feel the Lenders out there reading this begin to cringe...yep, you already know where this is going.
Tune in to my next blog when we here the Buyer ask..."Isn't the market volatility going to make response times critical? Shouldn't our "Loan Counselor" have contacted us by now?" And what about...The Loan Counselor?
Ok, folks, so I decided to leave everyone in a lurch wondering what is going to happen to "That Guy", in my usual blog posting. You know what they say..."Always leave them wanting more!" <WIDE GRIN>
Actually, my reason for deviation is purely inquisitive in nature. I have posted twice to RE/MAX related blogs without much success in response (read absolutely none, zero, zilch, nada...you get the point) regarding this subject. I will indeed include them again on this post, but I truly want to gleen some perspective from all REALTORS® that might be interested in such a program, since I've had less success when narrowing the audience.
Before I receive a plethora of people posting about the non-originality of the subject, please let me assure the reader, that this particular plan is a bit different in what I believe to be a unique approach side, as it has a fairly significant web-deployment plan in the overall model. This is not a "pie-in-the-sky" dream, but an actual network of sites, agents, sponsors, etc, that have agreed to participate in the program.
We discussed it locally to test the waters, and were amazed at the response we saw...alas, that was merely locally here in Arizona and specifically in the communities of Oro Valley, Tucson, Saguaro Ranch, Stone Canyon, Vail, Green Valley, etc., and really wanted a bigger picture of what sort of appeal there might be for Armed Forces Veterans that are REALTORS® and might have an interest in participating in a program of this nature. We haven't even spoken to any agents in our sister city of Phoenix, Scottsdale, Mesa, Glendale and Tempe, as we were really interested in deploying the program Globally; thus this post.
Ok, so the last time we left, "That Guy", he had been summond to the office of "The Boss". We enter today's blog with "That Guy" questioning everyone he can corner at the water cooler, as to why "The Boss" suddenly wished to see him. He pointed out to anyone that would listen (mostly as they were fleeing the feeble attempt at idle conversation) that he had not even seen "The Boss" since the holiday party, wherein "The Boss" had requested he leave the event early, due to a misunderstanding regarding a purported off-color joke told to the Executive Assistant's pool.
At any rate, "That Guy" reluctantly arrives at the door of "The Boss", promptly at 10 minutes past his appointed time. As he begins his well rehearsed excuse for his tardiness, "The Boss" interupts his babble, cutting him in mid-sentence with, "...Just exactly what were you thinking, when you stamped 14 files of Arizona Real Estate...to be exact, 7 files from Oro Valley, 4 Files from Northwest Tucson, 2 files from Stone Canyon and 1 file from Saguaro Ranch with some bloody red "NO" stamp? Do you not realize that these are attempted or requested offers for Short Sales, that can prevent BANK FORECLOSURES!!!???".
"That Guy" simply stands, jaw open, cavities glistening so brightly it nearly blinds "The Boss", with a confused "deer-in-the-headlights" look upon his face. "Do you not have anything to say for yourself? Do you not know that your job is Loss Mitigation? Do you know the difference between the words Mitigation and Prevention?". "That Guy", thinks for a minute...<insert thinking cloud here> "Hmm..."The Boss" must mean the difference between Loss Mitigation and Loss Elimination, with Elimination being the point of contention for sure; afterall, just how macho does either word, Mitigation or Prevention sound?", as he drifts back into his "Terminator" fantasy. Just as "That Guy" is once again envisioning the Harley start..."Are you listening to me!?!?!?", bellows "The Boss".
*SNAP* Back to reality, yet again! "That Guy" suddendly decides that silence might be his best recourse, albeit not his strong suit, he remains mute...besides, "The Boss" will probably clear up this current confusion with his next statement anyway.
"Ok, I am going to make it this very simple for you...just to match your apparent intellect, or lack thereof. I got a phone call this morning from, "The Professional", he is a REALTOR®, and a Buyer's Representative, representing the best interests of a Seller in an impending foreclosure situation. "The Professional stated that that he and his team had submitted a Short Sale Offer to your office for review. He said, without even further discussion, he received this "NO!"-stamped rejection letter from our Loss Mitigation department...more succintly, YOU!" "That Guy" suddenly feels his knees weaken, and his palms begin to sweat...
What does "That Guy" say next? What will "The Boss" do next? Tune in tommorrow, as the saga continues...and we hear "That Guy" whine, "But, Sir, isn't it my job to SAVE "The Bank" money? I thought with my desk so clear and a sound response reflecting "The Bank's" clear position to these irresponsible debtors asking ridiculous relief of thier self-created financial troubles, would be a good thing. Why do you appear to be less than pleased with these actions? I have fought the good fight, protecting the interests of "The Bank"!" Have I not? <insert organ music here> And what about..."The Seller"?
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Tucson's Straight Talk!
A Blog for What's Happening in Tucson and Southern Arizona's Real Estate Markets!
Tucson REALTOR®, Dan Grammar of RE/MAX All Executives and Tucson's Lender, Jason Rose of NOVA Home Loans, pull no punches with Straight Talk on Tucson & Southern Arizona's Real Etate Market, National & Global Economics, and Marketing & Advertisment strategies in current market conditions. Come listen to the experience and knowledge of Tucson's Finest!
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.
-=Dan
game he had been engaged in, while my clients eagerly awaited his response to their application. He was so very proud to show his intellectual prowess and in a moment of brilliance came to the table with a GFE that was substantially lower than the one provided him, a week prior.
;)
;)
