mortgage lenders: The Businessperson's Pot O' Gold: Testimonials and Referrals - 03/23/18 11:20 AM
 
 
The Businessperson's Pot O' Gold:
Testimonials and Referrals
 
Testimonials and referrals ... as a businessperson, it just doesn't get any better than receiving them, right?
 
Neither are ever a given, no matter how well-deserved.  And in this busy world, they can be hard to come by.  Clients (even happy satisfied ones) get busy, forget, and move on with their lives after moving or financing a home. 
 
Life intervenes with referral partners too.  The search for new clients never ends.  New business demands their attention.  "Niceties" are easily forgotten during these times.  All understandable ...
 
So I was thrilled when I received a note yesterday from … (14 comments)

mortgage lenders: Buying a Chicagoland Condominium? Get Educated and Informed First - 01/24/17 03:04 PM
Buying a Chicagoland Condominium?
Get Educated and Informed First

Many home buyers, especially first-timers, don't know about (or are confused by) the differences that exist between condominiums and townhomes.  
They also don't know that those differences can trickle down to how ownership is held on these properties ... 
The fact that the differences between these properties are not always something that can be easily seen visually ... definitely adds to this problem.  The differences between the two can be almost indiscernible.
So it becomes vitally important, when considering a purchase of either type of property, that Buyers work with a Chicagoland agent and mortgage originator that is thoroughly educated and experienced in their transacting and … (5 comments)

mortgage lenders: Change is Inevitable. The Outcome From That Change is Not - 11/09/15 07:13 AM
Change is Inevitable.
The Outcome From That Change is Not
      
     
     This last weekend was filled with "My Little Pony", "Shopkins", and "My Littlest Pet Shop" toys.

     Our grandbaby, Marilyn, visited with us while her Mom and Dad were busy.  As usual, she had her collection of Ponies, Pets, games, and toys in tow with her when she arrived.

     Her cousin, Eva Mae, is much the same when she visits us.  She typically has her favorite doll or stuffed animal tucked under her arm.  Or our little gymnast is tumbling and twirling … (40 comments)

mortgage lenders: Mortgages: Why All Those Questions Are Important - 09/15/15 03:34 AM
Mortgages: Why All Those Questions 
Are Important   
 
 
      My (almost) 4 year-old grandson, Henry, is the most inquisitive kid I've ever run across.  At times, Henry's little mind comes up with questions faster than his lips can spit 'em out ...  

     Henry constantly peppers me with questions when we're together.  And let me tell you, his "Pop Pop" loves every minute of it.  Asking questions is a great way for him to learn.

     Many of my borrowers are much the same.  Especially when they're first-time home buyers.

     Most borrowers want to know:  

(27 comments)

mortgage lenders: Spring 2015: Are You Hoping to Become a Successful Home Buyer or Seller? - 01/29/15 06:28 AM
Spring 2015: Are You Hoping to Become a Successful Home Buyer or Seller?            In the Chicago-area, February typically means Spring ... and warmer weather ... is still a couple months away ... 
 
     Brrrrr ...         But that doesn't mean that you can't dream and plan for Spring or warm weather activities.  
     If presently a Chicago-area home owner and dreaming of selling your home ... and buying a new one ... there is good news.  Most present indicators point to 2015 being a good year to do that.          It's predicted that move-up Sellers, as well … (7 comments)

mortgage lenders: Info Requirements for Mortgages Fall Into 4 Categories - 01/27/15 01:02 AM
 
 Info Requirements for Mortgages Fall Into 4 Categories              I often hear the comment about "how hard" it is to get a mortgage today ...        I hear about the challenges faced within the current mortgage process VS those when anyone breathing could get a Mortgage.  At those times, I swear I can hear music ... (click on the box below)                   I'm not trying to be smart or funny.  The "loose" lending standards yearned for ... those in play during the early-to-mid 2000's ... are … (7 comments)

mortgage lenders: 50% of Homebuyers Don't Do This. Will You? - 01/13/15 04:09 AM
 
50% of Homebuyers Don't Do This.  Will You?      
     The first article I read this morning stated ...

     "Americans may be spending more time shopping for shoes than for a mortgage, a report from the Consumer Financial Protection Bureau suggests. Almost half of consumers seeking a loan to purchase a home do not shop lenders, the agency said Tuesday."               (" Nearly half of  home buyers don't shop for a mortgage") Diana Olick | Kelley Holland 

     From experience, I can't say that statistic surprises me.  I've written on that topic before.
     In previous posts, I've provided a roadmap … (81 comments)

mortgage lenders: Let's Get Pinned! - 10/31/14 06:59 AM
   
Let's Get Pinned!     
 
     No ... not that way!  On Pinterest!
     I've been a big fan of Pinterest now for quite a while.  As time and my participation on Pinterest has grown, I've seen very positive results for my business.  Both from a client basis ... and that of meeting and working with new Referral Partners.
     Pinterest has definitely contributed to increased visibility online.  But besides the business benefit to Pinterest ... I've just come to enjoy the site.  
     Typically my wife (my marketing assistant) and I "pin" together.  I think doing Pinterest as a team … (22 comments)

mortgage lenders: How to Make Your First Mortgage Payment - 10/31/14 05:11 AM
 How to Make Your First Mortgage Payment     
   
 
     Inside Mortgage Finance News reported on October 28, 2014 ...
      "Total mortgage-related complaints filed by borrowers with the Consumer Financial Protection Bureau fell again in the third quarter of 2014 – the fifth drop in the last six quarters, according to figures compiled by Inside the CFPB.
     Data contained in the CFPB’s consumer complaint database show that such consumer gripes fell 17.6 percent in the third quarter of the year, and are now down 23.6 percent from the same period in 2013."
     It's also been documented … (13 comments)

mortgage lenders: The Reasons to Contact a Mortgage Lender ASAP When Buying a Home - 06/25/14 07:50 AM
 
The Reasons to Contact a Mortgage Lender  ASAP When Buying a Home
     The following are statistics reflecting American's current financial habits.  They're provided by the National Financial Educators Council:
 
60% of adults don't budget/keep close track of their spending 41% of young adults, ages 18 to 21, fail to pay their bills on time every month 69% of parents admit to feeling less prepared to give their teens guidance on investing than they do about sex
     I can tell you as a Mortgage Lender, that I'm not surprised by the numbers reported above.  I see/talk to … (42 comments)

mortgage lenders: Downpayments: Sometimes It's Good to Find Out You're Wrong - 06/23/14 09:01 AM
 
Downpayments: Sometimes It's Good to Find Out You're Wrong     
 
     A recent article featured in the MReport, (a mortgage industry news magazine) reported that a large percentage of young, first-time potential homebuyers believe they need a large downpayment to buy a home.  
     The article said that the average first-time homebuyer surveyed in a Zelman & Associates research study incorrectly believed that Mortgage Lenders demand minimum downpayments of 11% to 15% to be made in order to obtain financing to purchase a home.  
     Now this isn't the first time I've seen articles and stats of … (9 comments)

mortgage lenders: What's the Number 1 Thing I Can Do to Help Myself When Considering my First Home Purchase? - 11/12/13 11:33 PM
                                         
     I'm often asked by First-Time Homebuyers ...  
    
    "What's the Number 1 thing I can do to help myself when considering my first home purchase?"   
     My answer?  Educate yourself about every step of the Mortgage and home buying process ... thoroughly.
     As a Mortgage Lender, over the years I've come to see my role as educator or "teacher" vastly grow in importance.  When I first started in the Mortgage business, … (11 comments)

mortgage lenders: The New Mortgage "Norm" as of January 2014 - 11/11/13 04:28 AM
The New Mortgage "Norm" as of January 2014
 
     Talk to real estate and lending professionals regarding the current Home Buying and Closing process and you will most likely hear one of the following:
                                                               "The Loan Closing process is an imperfect one."
     "All too often, it's a last-minute business."
     "It generally and eventually comes together."
     I've personally heard each of the above statements. But this "inexactness" is officially coming to an end in January, 2014.
     Yes, big changes are coming in just two months. Changes that will decree that only "perfectly" executed transactions will Close ... on … (46 comments)

mortgage lenders: Pre-Approvals: Are They Mortgage Zombies? - 10/03/13 11:37 PM
 
Pre-Approvals:  Are They Mortgage Zombies?
       A recent Wall Street Journal article discussed the decline of Pre-Approval applications among top Lenders and Banks.  The statistics they offer show that Pre-Approvals have pretty much died as a tool or service offered by many Banks and Lender.  Just like Zombies, they are dead, but still walking.
     For purposes of defining a Pre-Approval used within that WSJ article, a Pre-Approval is deemed to be:        A full Loan Application.  Signed, documented with Credit Reports, Paystubs, W-2's or 1099's, Federal Tax Returns, Bank Statements, processed by a Lender, and submitted to an … (9 comments)

mortgage lenders: Questions & Attention to Detail Make For Successful Mortgage Closings - 08/27/13 07:02 AM
 
Questions and Attention to Detail
Make for Successful Mortgage Closings
 
"It's the little details that are vital. Little things make big things happen" ...  John Wooden               As of late, I've been blessed with some very intelligent and engaged Mortgage clients.  From our very first communication, each of these clients has been completely immersed in the details of their mortgage process and becoming thoroughly educated about it.  They've questioned me about every step of their process.  Why this?  Why that?  And it has been welcomed ...
    
     One of my clients, after receiving his … (20 comments)

mortgage lenders: Help Me Help You! Avoid Missteps Before and During Your Chicagoland Mortgage Process - 08/02/13 06:50 AM
 Help Me Help You!  Avoid Missteps Before and During Your Chicagoland Mortgage Process
     In a recent post, I referred to my "beating the drum" loud and often on certain mortgage topics.  Well, today ... I'm beatin'  my drum again.  This time regarding my list of  Credit  "Do's and Don'ts"  for clients while in preparation for and during Mortgage Processing.
     It seems no matter how many times or how many ways this topic is broached (or my drum is beaten) with clients, questions still come up or problems arise.  Some get carried away with enthusiasm regarding their new purchase.  Others … (21 comments)

mortgage lenders: If your lender is dragging his feet on the pre-approval, what type of service are you expecting? - 05/27/13 04:43 AM
 
There are so many important elements to mortgage service.  It's NOT just about rates, folks!
I'm not trying to undercut the importance of obtaining the best rate possible ... not one bit.  But, a good Mortgage Lender provides you much more than just the lowest interest rates.  They provide you good counsel.  They listen to you, research, and then provide you the best options available for YOUR  financial scenario.  For your present situation and into your future.  They provide you solid information to base your decisions upon.  They offer consistent, timely communication .. in a variety of forms (texting, emailing, cell, office calls, letters, Skype, … (3 comments)

mortgage lenders: "And Now You Know the Rest of the Story" - 04/26/13 06:07 AM
  "And Now You Know the Rest of the Story"      When I was a kid, one of the most popular radio stars of the era was  Paul Harvey.  Known for his folksy style and storytelling, Paul Harvey's radio program filled the air waves for around 50 years.  The thing I remember most about him was how he always signed-off each broadcast saying ... "And now you know the rest of the story."

     I have to admit to you, I've been pretty tempted to borrow Paul Harvey's famous line lately.  Especially when explaining mortgage qualifications and mortgage options … (43 comments)

mortgage lenders: "Will the Mortgage Process Get Easier Soon?" - 04/05/13 07:23 AM
"Will the Mortgage Process Get Easier Soon?"  

     I'm questioned about the topic of mortgage processing all the time.  But probably the question I hear most often, especially from those within the industry is, "Will the mortgage process get easier soon?"

     It'd be easy to give a quick answer ... and say "yes" or "no".  But truthfully, I believe the answer is really ... "maybe".

     After reading yet another news article on this topic just this morning,  ("When Will Mortgage Lending Standards Ease?" by Tim Manni, U.S. News & World Report),  I thought … (8 comments)

mortgage lenders: Don't assume. Pick-up the phone, email, text today. Get the facts as they pertain to you and your personal finances. You may just end up a home OWNER ... - 03/01/13 07:47 AM
 
Don't assume.  Pick-up the phone, email, text today. Get the facts as they pertain to YOU and YOUR personal finances. You may just end up a home OWNER ...  
     There are many people presently renting and dreaming of Buying a Home at some point "in the future".  After hearing or reading information or talking to others regarding the housing crisis and mortgage financing, they have come to the conclusion that they just can't buy a home now.  Or anytime soon.

     For some, that's true.  Their conclusion is based on fact.  Fact surrounding their finances … (9 comments)

 
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) Rainmaker large

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience

New Lenox, IL

More about me…

NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656

Address: Gene Mundt, Mortgage Originator c/o American Portfolio Mortgage Corp., 318 Alana Drive, New Lenox, IL, 60451

Mobile: (708) 921-6331

Office: (815) 524-2280

Email Me



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