There is a certain OPTIMISM quality that successful people have. I teach my kids to “train their brain” to think positively and visualize themselves seeing successful outcomes. “I can’t” isn’t allowed in my house. There is always something to be grateful for, and to make as a positive even out of a not so positive situation. #Trainyourbrain #Seethesalebeforeithappens #SellWell
#Two for Tuesday – Waiting periods for Bankruptcy and Foreclosures for both FHA and Conventional loans explained! #Checkitout #Knowthese #SellWell
Rate Rate Rate…”What’s your rate?” Rise and GRIND as the saying goes. Doing the duty of dealing with rate shoppers over and over to hit a goal! Today, I address the most common objection in the mortgage industry and how I would deal with it. #Checkitout #PaintthePicture #FactsTellStoriesSell #SellWell
As we swing into high gear for the “purchase season” don’t forget to ask about those homes being bought ALL CASH! You could still present a viable option to help the new homeowner’s replenish the cash they used to buy the home. Maybe do home improvements? #youjusthavetoask
Thankful for the Poof I have left. lol… Thankful for the communities that are developed on PUD’s. I help those types of loans close all the time. Here’s a tip on those communities that have “shared wells” or “Private wells”.. #SellWell
3 Wild Wednesday guides that are asked quite a bit. Check it out on today’s JUICE video. (Join Us In Creating Excitement) #Letsdosomeloans
Ok, normally I do #TwoforTuesday, did you read it the same way? Second, this is the biggest aspect of lending that is missed. It’s how we train our brains to skim over stuff. Our eyes go over it and can read things without us really reading them.
This applies to ALL information placed on the 1003. Yep, that’s how loans work. You put info on the 1003 it needs to be “verified” in proof. So do you as an LO actively R34D the informati0n s3n7?
Common mistakes, #TwoforTuesday #1 is read the information sent to check to verify it would have the needed checks on it. Not only is the CPL verbiage spelled right. But for example if on the 1003 you place 30k in assets, verify that the bank statement/asset statement has at least 30,000 as a balance. As you gather information as “proof” the best thing a LO can do is change their own point file. YES as you go on a loan, do you actually input the real values you get from the client into Calyx or Encompass? (not many do this). The LOS you use should be updated and when certain changes happen you should RE-RUN DU on your loan. Make sure it stays eligible throughout the course of a loan. Especially if you are doing a formal Change of Circumstance request (CofC) and including when you “lock” the loan assuming that rate is different than what was proposed at time of application. Re-Running DU on the “broker side” is a good idea. Don’t just ask for the change and not update your information or verify that the change requested will be ok. And once you do gain eligibility, then READ your own findings and gather what that is calling for. Especially upfront. Don’t overkill and send in too much information, just read DU and give the initial underwriter as much of those findings as you can upfront. So as I pointed out, there are multiple items to READ over in regards to what to gain from the client and AFTER that info is received from the client. #CHECKIT
Common mistakes, #TwoforTuesday #2 is to fill in the 1003. Completely. From start to finish. Look I work with processors quite a bit in my day’s routine. Or Broker’s that process their own loans. The number 1 thing I see is that an underwriter or myself will ask a question and that 1003 shows one thing or a declaration question not checked correctly or something. Even vesting request or source of down payment doesn’t match the information provided. Or the story that’s being presented. Small “conditions” can be avoided if the 1003 is thoroughly gone through on each and every loan. That is technically the job, the role, the fact you have a license to discuss terms on. However this “part” is whipped through over and over by Loan Officers all the time. When I did a 1003 #backintheday there were several of us in the office that would play games to see how much information we could get. We would ask what color is the blinds, to having a prospective buyer describe their dream kitchen. Just various things to really go deep and bring out EMOTION during the 1003 taking phase. When I did that task of 1003 taking, I would always aim at taking a 1003 through a guided conversation that engages the client and helps them open up to me. On all levels of finance to personal life, goals, dreams and aspirations.
If you need something you can use as an application “flow” sheet, feel free to head over to Sales Talk with Mortgage Pro’s . In the files tab I have kept a copy of what I used to use all the time, one is for “power buyers” and one is for “refi’s”. Just a copy of a “application flow sheet” that could help you along the way. A winner is a dreamer that never gives up!
Happy Tuesday #SellWell
It’s the first of the month, and a great time to stress urgency to get the pipeline moving. #MondayMotivation Last week had some great news for our economy, such as the jobs report showing a lot of jobs created, the job-less claims was down, and this month is actually a typical time period where “stocks” do bad. I don’t know the markets like some of the “Masters of the markets do” but I follow trends. And what I would do is use this information to stress urgency to my “potential clients” to get them off the fence. Seems to be a perfect storm for this…#SellWell
Purchase season is getting HOT, are you diversifying your pipeline? PS, when you have a legal contract you can cash out as a Rate and Term transaction. #Checkitout
Fannie Mae loosening guidelines? Sounds like it, and they are on point in adaption of new technology acceptance. #Checkitout