Category Archives: Mortgage Originators

Weekend Call 2 Action – Move your feet!

#WeekendCall2Action – Move your feet!  You have to get out there and do some old fashion guerrilla marketing.  Stop by some open houses, go to a Realtor meet and greet or mixer in the evening tonight.  Something to get your name out there is what you need to be doing NOW.

Yeah, I am an advocate of online marketing, however, it pays to get your name, and FACE out there a little.  You can’t just hide behind the CPU.  Now’s the time to show up at events, at mixers, at open houses, put up flyers, do something.  Where you need to “move your feet”.  The more you do this now, the more it will pay later.

The game of “Branding” includes a lot of various things, some face to face, some with written ad copy.  I suggest you move your feet a little and get out there this weekend.  If you want some ideas let me know.  Here’s a list of 50 things you can do to source new business this weekend.  Weekend Call to Action – 50 Ways to Generate Business!

In the mean time, if you’re a #MortgageBroker, I’d love to help you get $$ PAID on a loan or two this year.  #LetsDoBusiness – CLICK HERE to #GetOnPoint with #BluePointMtg

As Always –

#SellWell

Thursdays Thoughts – How Borrower Paid Works!!

#ThursdaysThoughts – How Borrower Paid Works!! Disclaimer, today’s video does not address “how” an individual LO or Broker is paid.  Today’s video goes over the different type of compensation structures that are allowed on a Brokered loan.  My advice is only that each Broker should have a separate agreement for compensation to their loan officers written out and signed.  From a wholesale level, no LO should be able to say, I get paid more to send it to X lender than you.  That can’t exist.  What we talk about today, is the lending laws that allow a Brokered loan to be charging the borrower directly (Borrower paid) or paid by the Lender paid compensation election. (Lender Paid)

I detailed some of the advantages of being a mortgage broker yesterday, and today I go in-depth on one of those advantages a #MortgageBroker has, going borrower paid on a loan.  Some Broker’s do this all the time, some Broker’s just don’t know how.  Borrower paid is actually the best way to structure a loan for a client, only due to the enhanced tax benefits they can get.  (from a consumer stand point)  From a LO/Broker stance, you have more flexibility to adjust numbers and give a credit if there’s a need to do so.  Hence closing the loan.  ↓

The biggest thing to remember on a borrower paid loan is that the credit can only cover the actual third party costs on the loan.  It can NOT cover the compensation.  So it’s important to look at the credits as DOLLAR AMOUNTS, not fractions and percentages.  In other words, what number is really 2.5% back to the client.  And is that over the actual costs or not?  Based on the loan amount, that end number will vary.

At the end of the day it’s all about structure, loan structure and the details of the transaction will always be the heart of the equation.  When a Broker/LO goes Borrower paid, they simply have more flexibility to make the structure work that they sold to the client in the beginning.  Making loans work is how they close.  When they close that’s when every one involved gets paid.

If you have questions about Borrower paid or Lender paid transactions please feel free to email me —CLICK HERE.  I’m here to help.

As always –

#SellWell

 

Whacked Out Wednesday = Why Mortgage Broker’s are Better!

#WhackedOutWednesday – Why Mortgage Brokers are Better!! Today I go over 5 advantages of working with a #MortgageBroker for everyone to know.  Tomorrow I’ll go deep into one of these advantages.  Today I wanted to highlight a few things that stick out to me that the general public and LO’s at banks should know.  These are reason’s why a #BrokerisBetter.

If you’re a mortgage Broker and want to #GetOnPoint with a #WholesaleLender that can add #Niche programs to your lending arsenal – CLICK HERE  For me I try to add value many ways, not just know guidelines and help get a loan funded.  I help my broker partners build their business.  #LetsDoBusiness #BluePointMtg

As I always say!

#SellWell

 

Two for Tuesday – DU or LP & VA Loans

#TwoforTuesday – DU or LP & VA loans.  Many LO’s forget that you can do a VA loan on DU or LP.  I say run it on DU and if it doesn’t get approved, try LP as a second resort.  #VALoans are quite possibly the best loan out there hands down.  I ♥ helping Veterans get into homes with no money down.

Today I dedicate the day to some of the #GuidelineWeek guidelines that I went over last week for VA Loans.  Foreclosure, SS, BK, concessions and more.  I talk about the recent changes in cash out LTV calculations and several other “cool VA guides” you should know.

When it comes to partnering with #WholesaleLenders for VA, I suggest you #GetOnPoint.  Why? Because at #BluePointMtg we have virtually no overlays and we will send out to a local VA office if needed.  (Happens when two unmarried Vets are on same loan).   Many lenders do not do this.  We want to give you options for your Veteran borrowers.  #LetsChatVA

We close loans, that’s the point! #GetOnPoint with #BluePointMtg – CLICK HERE

As Always –

#SellWell

Mondays Motivation – Sales Goals and Routines!

#MondaysMotivation – Sales Goals and Sales Routines! Here we go March is in full effect!  Hard to believe the 1st quarter of 19′ is almost over!  Are you honing in on your routines and touch points?  For those new to sales, having follow up at certain stages of a loan, or stages in a pipeline for example, is a good idea.  Having follow up routines and cadence routines to sales is key.

Make the most of March by honing in on our “activities” that are helping you achieve the goals you have.  Weather that’s prospecting or following up, or a mixture of both.  It’s part of sales, no matter if you’re new or old to it!

This week I’m in the office taking “I gotta guy” questions and scenarios and turning them into submissions on live loans!  #LetsDoBusiness

For pricing CLICK HERE

For Broker Package CLICK HERE

I’m all about helping any way I can.  Let’s chat pipeline growth together! Place “scenario” in the subject line and attach any credit, DU/LP and a 1003/1008 and SEND ME AN EMAIL! 

As Always –

#SellWell

 

Fantastic Friday – Guideline Week

#FantasticFriday – #GuidelineWeek – Guidelines, Guidelines, and more Guidelines all week long.  Today I wrap up the week by going over the most commonly asked questions for FHA yet again.  I even throw in an extra bonus today with seller concessions max, or maximum third party contributions in Conv, FHA, and VA!

One point I’d like to make is sellers concessions can’t go over 2% in 2 different situations.  1 on investment properties and 2 on FSBO.  Know this stuff Ladies and Gents!  ↓

I enjoy helping others get their loans done and done right.  If you have guideline questions, do me a favor, shoot an email that says scenario – (Or – “I gotta guy”) in the subject line of an email.  Include the 1008, 1003, credit report and any DU/LP findings you have.  And I’ll take a look at it for you.  CLICK HERE to send an email.

As Always

#SellWell

Thursdays Thoughts – GUIDELINE Week!

#ThursdaysThoughts – #GuidelineWeek – Guideline week in full effect, hope you’ve enjoyed the shows this week.  We are going over the most commonly asked questions on guidelines for Conventional and FHA this week.  I throw in a few VA guides here and there this week, but this is all centered around the biggest subjects.  Today and tomorrow we go over collections, disputes, liens, judgments, and gift guides. ↓

I ♥ “I gotta guy” questions and want to help you anyway I can to help bring loans to life.  Questions on guidelines? You can check the guideline matrices on my website here — GUIDELINES

As for me, I’m wrapping up a successful Feb and rolling right on pace for my goals in the first quarter 2019.  Are you?  If not we should chat.

Happy Month End.

As Always –

#SellWell

Whacked OUT Wednesday – Guideline Week!

#WhackedOUTWednesday – #GuidelineWeek – With the most frequently asked questions about #FHALoans we will have the “whacked out” part all integrated with today’s episode.  LOL.. Seriously these are the guidelines you want to know on FHA for time lines.  I go over many more in the next two days.  But this is the area of 80% of questions monthly.  BK’s and Foreclosures and of course student loans, collections and disputes.

I’m talking to more and more to LO’s all the time about what the difference is between Retail and Broker.  If you’re a LO and want to know about the #Wholesale side of things feel free to reach out to me.  I’m #HereToHelp!

I’m helping rock stars become Brokers, helping LO’s turn into rock star producers, and getting more and more loans done every month.  Want to talk about growth together?

Don’t be Whacked OUT and not reach out, send me your Whacked OUT scenarios, I’m in the office helping Whacked OUT loans comes to life! 🙂

Text the word Juiceman to 33655, download the app and you can send me various messages.  Via App, text, email heck you can even call me.  If you wanted to price a loan out you can use that app too.  Go ahead compare your retail rates to my wholesale rates.  My products and program matrices are even open portal.  Feel free to poke around.  All located on the app.  Send your #WhackedOUT scenarios thru the app too.  Go head, text that word – “Juiceman” to the number 33655.

As Always –

#SellWell

Two for Tuesday – Guideline Week!

#TwoforTuesday – #GuidelineWeek – This week, I go over some of the most commonly asked questions.  Today I review conventional LTV limits, and funny enough I get an email last night asking for the LTV on a REFI for an investment property.  The conventional limits, and non-agency limits on LTV /FICO are on matrices openly published and can be accessed WITHOUT a password.

Want to see them? – CLICK HERE! In today’s show I go over Bankruptcy and Foreclosure guidelines for you all on conventional loans.  When it comes to “Non-Agency” the guidelines are driven highly by FICO, but comparing the Fannie Mae matrix versus non-qm, you can see a 5% increase in most buckets for LTV.  Answering my Broker’s question, 75% LTV refi on Conventional, and with a high enough FICO up to 80% LTV refi on non-agency for investment property Rate and Term transactions. ↓

Ton’s more #JUICE all week long.  Tomorrow we’ll visit FHA guides more and I’ll alternate products all week to get the important “most frequently asked questions” out of the way.  I ♥ “I gotta guy” questions and can’t wait to help you with your most recent scenario.  🙂

As Always –

#SellWell

 

 

Mondays Motivation – Guideline Week!

#MondaysMotivation – Guideline Week.  This week it’s all about guidelines.  I ♥ “I gotta guy questions” from my Broker partners and always seek a way to make loans come to life.  Weather it’s just answering questions about guidelines, or helping put together structure to work.  The heat is on, and it’s warming up fast in many markets.  If you don’t feel like your production is coming alive, there may be something we can chat about to get you going — CLICK HERE!

This week is all about the most commonly asked questions, each day I will have a focus on a product, FHA or Conventional.  (For the most part) And I will address gifts, collections, wait times, disputes, student loans and more.  Today’s just an update from FHA that happened last week.  ↓

If you have a FHA loan you’d like to transfer the case number this week, the case number to #GetOnPoint with FHA loans down to 550 FICO is – HUD Lender ID # 25799-00006.  NMLS #320004 Equal Housing Lender! 🙂 #LetsDoBusiness – CLICK HERE

As Always –

#SellWell