Tag Archives: Perfect LO

TGIF – 1003 Commonly asked ?’s

#TGIF – The Grind Includes Friday (everyday for me) 🙂 – Very frequently I am asked about rules of the 1003, and wanted to drop two commonly asked questions as guides today.  Number 1, the 1003 is going to changed, yep you’re going to have to learn a new one! But not until 2019.  So you still have 1 more year with the current version of the URLA.  So good news there.  Number 2, the most commonly asked question I get asked is about the work history.  Most get confused about the rules for using income, and how to fill out the 1003.  Let me clarify. – You need to detail a 2 year housing and a 2 year work history on the 1003.  It’s as simple as that.  If they have only worked at their current job for 30 days, just keep asking the client “where did you work prior to that?”.  Make sure you detail 2 years as a history of working.  Now high school does NOT count, but trade schools and college do.  If there is more than 30 day job gap all you need to do is get a letter of explanation from the client (loe/lox).  Simple.  Number 3, the rule of 5.  I love this rule.  And many do not know it.  So here’s a cheat sheet to refer too.  Commission, bonus, over-time, self-employed or working two jobs are the 5 things in this rule.  And really you only need a TWO YEAR HISTORY OF WORKING TWO JOBS AT THE SAME TIME!  The rest of the rule of 5 you only need a 1 year history of doing.  With exception of being self employed and actually working in the same field for 2 years or more, but you can be self employed for 1 year only and do a home loan.

Better yet, you can use our #SponsoroftheWeek PERFECT LO to help you take an accurate 1003 from the start!  #SellWell

I’m growing again and today calling Broker’s I do NOT know at all.  If you watch this, share it with a fellow Broker or Bank that could use a great Account Executive to help them close more loans and gain more business!  #FilloutBelow

Monday Motivation – What I do well!

#MondayMotivation – What I do well is close FHA/VA loans.  I ♥ these loans.  I coined the “I gotta guy” questions for a reason.  While I have a full suite of products these are my strong suits.  I also help LO’s learn how to advertise on Facebook and JUICE their pipelines big time.  Focus on what you do well!

*Sponsor #OftheWeek is PERFECTLO 1003 application.  Here’s a short video that explains it all #Checkitout PERFECT LO VIDEO !

#SellWell – Need leads? – Learn to JUICE your pipeline, CLICK HERE TO DOUBLE YOUR PIPELINE

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Whacked Out Wednesday – Keep calm and Carry on with closings!

#WhackedOutWednesday – Back at it with the end of the month closings.  Balance your file, put in your locks price, estimate your impounds based on information on title, the cash to close should NOT change drastically.  In fact, the one thing most will not have in advance is the actual “aggregate adjustment” from title.  That’s the only number really that should change what your client is bring to the table.  #SellWell

Sponsored by Perfect LO, a mortgage application software tool.  Take 1003’s interactively, with over a 90% complete ratio.  PerfectLO Website

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Two for Tuesday – Consistent Action

#TwoforTuesday – Sales TIP day, I go into the two things that have made me successful in whatever I do.  Consistency and Action.  Both work hand in hand, and all start with taking action.  Make time to prospect, make time to follow up, make time to go over emails and voicemail.  When you create consistent habits of action is when you will see results in the long term.  #SellWell

This weeks Blog Sponsor is PerfectLO.com .  Check out the video made demonstrating the product; Perfect LO VIDEO

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TAKE ACTION; GET A HOLD OF ME TODAY!  IF your SLOW, or NEED To close more loans with more products call me.  I just don’t help close loans, I help you alleviate risk, and get more done! (Need leads?)