Thursdays Thoughts – DSCR / NIVA loans and how they work!

#ThursdaysThoughts – Debt Service Coverage Ratio loans (NIVA) and how they work! Today is another edition of Non-Agency tid bits of guidelines as I’ve been doing all week.  This loan is POWERFUL!  And a great way to source new business with a past client you might have.

What I would do, is look at all your past clients that already own 1 rental property and call them today.  See if they considered expanding their portfolio at all to gain a new investment property.  With value’s being steady across the Nation and rates rising (gently) this year, NOW’S THE TIME! These loans are great and allow someone to buy a new investment property without a lot of hassle.  No income is on the loan.  Especially if they live in an area where the rents compared to the PITIA would be more significantly.

I’m here to help you gain clarity, prescreen these “creative” loans and get them done.  WITH THE SAME SERVICE you offer your “Agency” clients.  In the first month #GetOnPoint at #BluePoint I’ve watched Non-Agency loans gain approvals and get conditions signed off in 24 hours (or less).  We truly are a broker’s partner for Non-Agency loans and why I highlighted the 9 different programs we have this week.

Check out BluePoint’s product mix here —-> PRODUCT MIX

Let’s have your team get on point with #BluePoint too! I’m in the office helping loans get structured daily.  Why not you! 🙂

As always – #SellWell

 

Whacked Out / Wonderful Wednesday – Happy 1st of the month!

#WhackedOutWonderfulWednesday – Happy 1st of the month! – I personally ♥ long processing months.  Means more chance to close loans.  As we all (*anyone in the mtg industry) gets ready to turn in your goals for the month – #WonderfulWednesday – I wanted to continue on the weeks theme of Non-Agency loans and add some additional wisdom on “doc types”.  The #WhackedOutWednesday part is the bank statement loans.  And what seems to be the loan that falls out the most.  However, doesn’t need to be.  It’s all about how the 1003 is put together, and I go over just that on today’s episode as I describe the different types of file doc types Non-Agency/Non-Qm loans have.

Bonus, since I didn’t make a decision in advance, I combined the wonderful and the whacked out part together.  🙂 Happy hunting in a long month!  I’m here to help you #GetOnPoint with #BluePoint! #LetsDoBusiness ↓

Hope you enjoyed the #LunchNLearn today! Here’s the link to subscribe to rates daily.  – Daily Rates

I’m in the office to help you structure these loans.  Happy 1st of the month!  Who needs a Non-Agency same month closing?

As Always

#SellWell

Two for Tuesday – Non-Agency Tid Bits

#TwoforTuesday – Non-Agency tid bits all week.  Today’s is full of two great guidelines to know.  You do have products to make things work out for your more credit worthy clients.  Sometimes, “stuff happens” and there’s events that make your clients wait under traditional mortgages.

Bankruptcy, foreclosure, short sale, deed in lieu all are trigger events in most cases.  We have over 9 different options that can offer your clients options!  ↓

♥ Today, text Juiceman to 33655 and check out options you can have yourself.  I’m in the office wrapping up the month, and making impact to pipelines, why not yours!?

As always

#SellWell

Mondays Motivation – Non-Agency Tid Bits

#MondaysMotivation – Non-Agency tid bits of guidelines this week.  Non-Agency has a better ring to it than Non-Qm, and some may have a negative cogitation to the word.  However, more than 50% of all Non-Agency loans are in fact full doc.  While we boost bank statement loans, and you see investor options coming out, the important thing to remember is great options for your borrowers.

Weather self employed, or just had some event happen in the past that shouldn’t prevent a qualified borrower otherwise to have to wait 2, 3, 4 or even 7 years to buy a home.   Non Agency guidelines help make dreams come true.  Get on point with BluePoint here – CLICK HERE! We have 9 different non-agency options that you can add to your product mix!

Great guidelines to know, and a way to “make the loan happen” when reserves or a gift is needed.  There are plenty of good loans in the non-agency arena and these are just some tid bits (Guidelines) I’ll go over this week to help them shine.

As always – #SellWell

Weekend Call to Action – Segment guidelines!

#WeekendCalltoAction – Part of expanding your referral base is to segment.  Yep, segment those RE agents specializing in products you do.  Such as those that list condo’s for example.  Such as those that list BIG homes, or those that are near a VA base for example.   You can create a way to segment with GUIDELINES.   That’s how you find the WHO or WHERE to market.

To know HOW to market is sometimes just as simple as dropping a guideline.  About that niche the referral partner works around.  This is value added, and if it’s a strong point about your products then mention it.  Maybe others have overlays, or don’t “do” that type of property.  Market to the people that list those properties and you can expand your referral base.

I love ♥ to segment guidelines.  It’s a great way to look at a geographical area and talk business about a specific product I know the broker would use.  You can do the same with referral partners of all types not just RE Agents.  Don’t get stuck with loans you can’t close, partner with a lender that offers solutions! #BluePoint is here to help!

If you want more options to close more loans, and help with potential segmenting for your marketing let’s chat!  – CLICK HERE! #LetsDoBusiness

As always #SellWell

Thursdays Thoughts – More than 1 and flipping! FHA Guideline week!

#ThursdaysThoughts – LUNCH N LEARN – Today I go over my max length a little bit.  Yep it’s a long one.  12 minutes of pure FHA guidelines you should know.  Sorry.  But, for those that watch, will get some great tips 🙂

Can you have more than 1 FHA loan?  And what’s the time frame for flipping again? (90 days right?) Well, I go over the rules, the exceptions and things to watch out for in today’s episode of Thursdays Thoughts.  When I set out this week initial campaign it was to be centered around guidelines.  I found so many JUICY one’s to share in doing my planning that here at the end of the week, I wanted to throw in a few extra one’s.  12 minutes of getting on point!

#GetOnPoint with #BluePoint already!!  We have some fantastic guidelines for non-qm that make BP unique.  We also have one open overlay on Government loan options we provide.  We only go down to 550 FICO on FHA and VA loans.  We go by the book otherwise.  #LetsDoBusiness – CLICK HERE – and we can provide solutions to help you close loans.

As always – #SellWell

 

Whacked Out Wednesday – The rule of 5! (FHA effective income guidelines)

#WhackedOutWednesday – The rule of 5 I go over today.  The way’s to use the various forms of income and what’s considered effective income and what’s not.  The “whacked out” part is that many LO’s don’t know how to calculate effective income.  The salary is the salary, the hourly income can vary.  And if it does there’s a rule I go over for this.  The VOE is king.  The paychecks are a supporting document, not what determines income.

The biggest thought is that you need two years for all of the 5 type of incomes.  Bonus, Over-Time, Commission, Self-Employment and Second jobs.  When in reality there’s only one of these that you really need a full two year uninterrupted period of receiving.  Find out more in today’s video! ↓

We go by the guidelines and I’m here to help you structure these deals to get them done.  The rule of 5 is great to know, and every LO out there should know how to calculate the effective income.  To many times there’s just some snag somewhere that the LO didn’t realize.  My goal is to eliminate that with these guideline videos and help all get more loans done.  In fact I encourage you to get on point, with BluePoint! We are a growing National wholesale mortgage bank, we are broker friendly and have several niche’ products.  FHA/VA are for sure sweet spots.  SIGN UP HERE! 

As always I’m here for any – “I gotta guy” questions.

#SellWell

Two for Tuesday – Guideline Week (FHA)

#TwoforTuesday – I ♥ guidelines and will always use them as a tool to help my clients get to the end goal – close more loans! That’s what they’re there for.  To help us.  Might as well point out one’s I see missed or not understood by the masses right.  It’s my value point for you.  It’s where I can shine to help you structure a deal right to begin with.  Today I go over two FHA guidelines that are commonly asked as questions.  Seasonal income and how to use it.  As well as departing primary income and rental income calculation.

It’s important to align your Brokerage with Lenders that can help you with guidelines and do not have many overlays.  That’s the point, to help you get on POINT.  With BLUEPOINT! CLICK HERE and complete the broker package today! We are a Broker Friendly lender growing all over the nation.  Let’s do business! With strong pricing on FHA/VA and the 9 different non-qm options we are poised to make impact where other lenders may not specialize.  That’s our “niche'”.

Guidelines are apart of our everyday role as AE’s and wholesale Lender reps, we have LO’s and Broker’s asking us questions all day.  We can gain answers straight from the source (Underwriting) and help you structure your loans to actually close.  This is the difference making we make at BluePoint.  Don’t get stuck with loans you can’t close.  Get on point with BluePoint today!

#SellWell

Monday’s Motivation – Guideline Week!

#MondaysMotivation – Guideline week, I ♥ guidelines!  Knowledge is value that dollars follow.  I suggest anyone in the craft of originating loans learn to create value by studying the guidelines of various programs.  To be able to recite the guidelines you know when you need them, or at the least be able to look them up at your fingertips.

No matter what, knowing the guidelines is what can help you structure the loans the right way and experience less issues.  Today I start the week off with two simple but missed guidelines quite often.  If you balance a file correctly at the beginning you can pick to not finance the UFMIP and use the credit associated with the file to cover it.  Same with business debts, knowing what to gain and how they must be portrayed to exclude from DTI is power.  Structure FHA loans to win.  I’m in for any “I gotta guy” question this week.  Contact me on Facebook here!

If you’re not signed up with #BluePoint we are here to help you #GetOnPoint!

CLICK HERE – And let’s do business!  We ♥ FHA loans and go by the guidelines.  We have one overlay basically.  That’s the fact we only allow as low as 550 FICO.  Remember 550-579 FICO would be 10% down or 90% LTV anyway.  We allow manuals and would refer to the handbook 4000.1 for guidelines.  If you want to have access to the newest version on the 4000.1 – feel free to CLICK HERE!

As Always #SellWell

 

Weekend Call to Action – Invest in Yourself

#WeekendCalltoAction – I ♥ training day! Invest in yourself and do one of these training’s that can impact your business!  Today I wrap up the #JUICYList!!  Join Us In Creating Yes’s to tools and training’s and companies that can help you grow your pipeline.  That’s why I made this.  To help the Mortgage Broker’s I serve do more business and ultimately do more business with us! #GetOnPoint with BluePoint here!

Today I highlight 4 different training’s that can help a LO/Broker #LevelUp!  The weekend Call to action is simple, invest in yourself – Do something to learn to do more business!  This is how the best of the best LO’s increase year over year!

The first is of course my #TheBluePrint training.  It helps you with gaining more #Relevancy #Reach and #Results when creating FB marketing campaigns.

CLICK HERE FOR THE BLUEPRINT!

The second is where it all started for me, training’s to help salesman ship and online knowledge of funnel advertising.  It’s #BFE and #ShowUpandClose – These were the foundation that helped me create the mortgage juicman dot com to begin with.

CLICK HERE FOR SHOW UP AND CLOSE SALES TRAINING

Third is a great training that teaches you how to segment when advertising.  And what better product to segment than #VALoans.  The best loan out there.  MMBC – Military Mortgage BootCamp is a training that teaches marketing and product knowledge.

CLICK HERE FOR MILITARY MORTGAGE BOOTCAMP 

And one of the best for last, a complete systems, product, sales, workshop style training that takes LO’s to the #NextLevel!  Next Level LO is a great training to accompany anyone’s want to dominate their local market!

CLICK HERE FOR NEXT LEVEL LO 

I hope you saw something this week from the #JUICYList that can help you grow your business.  Feel free to reach out anytime to me directly.  DM me on Facebook will get you the fastest response.  #SellWell or should I say #TrainWell ♥

 

 

Mortgage sales expert. Helping mortgages close everyday.

%d bloggers like this: