harp 20: Working Smarter When Targeting HARP 2.0 Prospects
- 08/12/12 04:00 AM
As interest rates have reached historic lows, many homeowners have had to watch from the sidelines. These frustrated homeowners have been told time and time again they can't refinance because plummeting home values pushed their mortgage underwater. Yet many of these homeowners are gainfully employed, have maintained solid credit and have dutifully paid their mortgage payments. President Obama and other politician likes to call this group the "responsible" homeowners. The revamped guidelines of the Home Affordable Refinance Program, better known as HARP, have opened the floodgates to millions of underwater homeowners that were unable to lock in the prevailing low rates. … (0 comments)
harp 20: Are you wasting your time on unfunded applications?
- 08/01/12 07:14 AM
One of the most vexing and costly challenge mortgage brokers and lenders have experiences over the past few quarters has been the deluge of unqualified applicants and leads. A Wall Streat Journal Article discusses this growing problem of clogged mortgage pipelines. Lower interest rates, coupled with the revamped HARP 2.0 Program, has led to a precipitous spike in demand for refinancing. Unfortunately, many of these applications end up being disapproved because the homeowner's payment history, credit score, or LTV does not pass requirements. Nothing is more costly than to market to borrowers that cannot survive the underwriting process. More than ever, … (0 comments)
harp 20: Getting in front of qualified HARP 2.0 Prospects
- 08/01/12 06:46 AM
Marketing to HARP 2.0 leads should generate a high response among responsible homeowners that were unable to have access to today's low interest rates because of LTV requirements. These homeowners have faithfully paid their mortgage payment and haven't had to look far to see other homeowners that were struggling to make their payments, only to modify their loan or get from underneath their home through a short sale. Those frustrated, responsible homeowners have beeen hungry for information on relief, but have been told time and time again that they simply don't qualify for assistance because of LTV restrictions. Enter the HARP … (0 comments)
As interest rates have reached historic lows, many homeowners have had to watch from the sidelines. These frustrated homeowners have been told time and time again they can't refinance because plummeting home values pushed their mortgage underwater. Yet many of these homeowners are gainfully employed, have maintained solid credit and have dutifully paid their mortgage payments. President Obama and other politician likes to call this group the "responsible" homeowners. The revamped guidelines of the Home Affordable Refinance Program, better known as HARP, have opened the floodgates to millions of underwater homeowners that were unable to lock in the prevailing low rates. … (0 comments)
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