mortgage rates: Mom says no? Ask Dad! - 07/14/14 03:39 AM
It's funny.  I've been in the mortgage biz for more than 15 years now.  Some of that time, we were lenders, and the last 7 years I've been a mortgage broker.  I can honestly say, my clients experience no difference.  The process is virtually the same, the products and price are the same, no meaningful difference.  However, I hear all the time: " Oh, my agent said it's important to work with a mortgage banker.  They can call the underwriter with questions or problems." 

Here's the thing:  I ask a question of an underwriter about a scenario (believe … (0 comments)

mortgage rates: How Well Can You Box? - 10/04/11 09:42 AM
I got this email tip from Rick DeLuca today:
I want you to picture yourself as a prize fighter.  Climb into the ring, warm up and the bell rings!  You jab your opponent, then move to your left/right, then jab again.  However, the most powerful thing you can do is jab and immediately follow-up with a right/left cross.  You don’t need to know anything about boxing to understand the example I’ve drawn for you.  Jab and punch.  Seldom do you see a prize fighter not “follow up” with his first jab/punch.  It’s the “combination” that takes a toll.
So, what has … (2 comments)

mortgage rates: Is it too much to ask? - 04/07/11 03:22 AM
Realtors of the world.....I need some help.
I had an event last week, where I flew Rick DeLuca in from the west coast, and hosted a seminar for the realtors I work with.
Rick is a well known, well respected speaker, with a very full schedule.  I provided the venue, 2 meals, and the presentation itself, all for one low price of NOTHING.  We hosted a networking mixer after the "main event" so people could get to know one another and potentially pass referrals.
I invited about 125 people by email 3 times over the course of 4 weeks, and about … (10 comments)

mortgage rates: Our market is one of 8 that's appreciating...How's yours? - 03/14/11 08:11 AM

I reviewed some interesting data this morning.  It shows that MA was one of 10 states with appreciation last year, and one of only 8 in the country that appreciated last quarter. While no one is going to jump for joy on the raw numbers (.38% and .03% respectively), it sure is nice to be moving in the right direction.
Does this mean we can all breathe easily, and start coasting? No, it means we can continue to build excellent careers that will sustain our families and lifestyles for years to come, beginning NOW.
There's no reason to whine, complain, or feel … (10 comments)

mortgage rates: What are you Reading to get Better? - 03/14/11 04:17 AM
I try to read as many books as I can.  I have 3.5 kids, so free time is pretty scarce.  That generally means that I only read books on sales, attitude, influnce, or other business or personal development topics.  I don't have enough time to read novels and other works of fiction.
I find that reading gives me a fresh perspective on lots of different subjects.  I can then teach people what I've learned, if I think it could change their perspective or positively impact their business. 
Some of my favorite books:
Play to Win! by Wilson and WilsonWho Moved My … (8 comments)

mortgage rates: Do you believe in the Power of Ziglar? - 03/07/11 06:39 AM
I consider myself lucky for many, many reasons.  One such reason was being able to see Zig Ziglar when he was "at the top of his game" a few years back before his accident.                     
I was listening to his series entitled "How to Stay Motivated" in my car over the past few weeks, and I heard, in typical Ziglar fashion:
"If you help enough people get what they want, you can get everything that you want"
I've heard this a thousand times. I'm sure many of us have. The question is, if we believe it, what are we doing about it?  … (7 comments)

mortgage rates: Happy Holidays?? Maybe not. - 12/24/10 05:19 AM
I have a client who may not have a merry holiday season after all.  He was scheduled to close on his new house on December 30. The loan process was moving smoothly despite the fact that it's been interrupted with holidays for the past month.
Yesterday, he got a hard dose of reality. He inadvertently missed a $10 minimum payment due on a store credit card in November. It got reported to the credit bureaus, and his score dropped by 60 points! As if that weren't enough, that drop was enough to disqualify him from the mortgage program he was in.

mortgage rates: Don't buy ANYTHING, don't CHANGE ANYTHING! - 10/27/10 03:08 AM
Here's a warning tale for all the realtors and lenders AND CONSUMERS out there. 
I had an easy purchase loan all set.  The borrowers made tons of money, perfect credit, big downpayment.  The loan was approved, appraisal signed off, etc.
The day before closing, the investor (who shall remain nameless to protect the not so innocent) pulled a credit inquiry report.  The borrower had just applied to refinance their primary residence.  The payment was DROPPING by $750.  After explaining this to the investor, the answer came deal!  They didn't care the cosumer was saving almost $10,000 /yr in payments.  They insisted … (3 comments)

mortgage rates: "No Money Down" lives on! - 09/27/10 04:37 AM
As a mortgage professional since the 1990's, I have seen hundreds of mortgage programs come and go.  It's my job as a service provider, to make sure that my partners have all the tools they need to sell more homes.  There's one around that is routinely overlooked.  USDA, Formerly known as Farmers Home mortgages.

I've met with top producers as well as brand new agents, and few if any understand the power of the program.  In short, in this area, if you earn less than $91,000 as a household, and the property you intend to buy is on the USDA map, … (8 comments)

mortgage rates: Sorry, Your House is Worth TOO Much! - 02/17/10 10:27 AM
I've been a lender for 12 years.  I've helped hundreds if not thousands of clients get financing on their homes. I've seen lots of odd and goofy things before.  This one takes the cake.
I have a great client.  A repeat client, many times in fact.  They want to refi, and the numbers make sense.  There is value for them, it's responsible and appropriate.  All systems go...
The loan is approved, they have good stable jobs, great credit, and enough equity to make the loan possible.  They have PMI now, and because the market is what the market is, they'll still have … (7 comments)

mortgage rates: Referral Fees...nope! - 01/14/10 05:23 AM
This is from a book called Sway which is a psychological study of irrational behavior.  This book supports the theory that you are much more likely to be successful if you offer people $0 for their referrals then you will be if you pay them.  I know that doesn't make any sense but as you'll see, people view an altruistic act differently then a business transaction.  The part of your brain that processes monetary transaction is completely different then the part that processes altruistic acts. 
As an example, if your buddy calls you and asks you to help him move … (1 comments)

mortgage rates: Press "1" for English... - 12/22/09 01:25 PM
When I listen to the way that people communicate these days, I am a bit embarrassed. To be truthful though, I am equally guilty, at least some of the time. People use texting, which is the most bastardized form of english that a person can imagine.
While many of us, if not most, txt, hopefully we know better than to use it for important conversations.  The same cannot be said for email.
Now, I'm not an old grouch, hiding in a technology vacuum, in fact far from it.  I send emails constantly, and probably receive about 100 per day on average.  I think … (11 comments)

mortgage rates: Mortgage Rates for 12/21/09 - 12/21/09 05:28 AM

mortgage rates: Rates are improving, time to get moving! - 12/18/09 02:38 AM
As we approach the holiday week, we've been given a bit of an early Christmas present.  Rates improved again yesterday to the levels of a couple of weeks ago.
I locked a client today @ 3.625% on a 5/1 ARM with no points!
30 year fixed rates are in the 4.75% range, also with no points.
10 year fixed...4.25% no points and no Closing Costs!
We have been given a great opportunity, let's all make it known we appreciate it.

Bob Prevelige, CMPS (Zenith Mortgage Advisors) Rainmaker large

Bob Prevelige


Hopkinton, MA

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Zenith Mortgage Advisors

Address: 74 South St, Hopkinton, MA, 01748

Office: 508 497 9900

Fax: 866 456 4748

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