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Brokers need to get DNC savvy
If you’re one of those
mortgage Brokers
who thinks the
Do Not Call laws
don’t apply to you because you’re not making cold calls or you are only buying “scrubbed” leads, you’d better listen up to what the FCC has to say.
Million Dollar Homes Drive Bay Area Realty Value
SAN JOSE - One in every eight homes sold in the San Jose/ San Francisco Bay area last year went for $1 million or more, according to data from a real estate tracking firm. Across-the-board appreciation in the nine-county area pushed the sale prices for 16,981 houses and condominiums, or 13.5 percent of total homes sold, into what was once considered a luxury price zone, researcher John Karevoll with DataQuick Information Systems said Tuesday.
What Criteria do Borrowers use to Choose “YOU”?
What do you think do people look for in a mortgage lender? New brokers are usually not aware of the reasons people choose to approach a mortgage lender and I am sure the answer will surprise you, but before I tell you the answer ponder a while.
Technology Makes It Easy for Brokers
Technology is always making its way into the mortgage industry. I have personally seen the ready acceptance of almost every new and innovative tool by brokers, loan officers and other industry professionals to enable them close more deals with less stress and effort. Data entry is time consuming; besides it leaves businesses vulnerable to potential fraud. What if borrowers could call up, leave their information, get pre-qualified and have all that data fed into your loan origination system
Brokers Prosper, Rain or Shine
With home prices going up 10-20% in some markets, many so called experts warned of a bubble bursting, and home prices crashing down as much as 30%. Remember Y2K?
Sub-Prime Can Help Prime Bottom Line
Mortgage loans
are a roller coaster ride waiting to happen; several of my students have asked me how I keep my pipeline, at least, partially filled as theirs coasts on the lower end.
Honesty is its own reward but not its only one
In a settlement reached last week with 49 state Attorney Generals, Ameriquest Mortgage has agreed to pay $325 million in borrower restitution and investigative costs. The settlement is the third largest of all time relating to abusive lending practices and the largest since the Household Finance settlement of $484 million in 2002.
Lenders and Brokers Share a Complementary Relationship
The success of tools like BlitzDocs and ePASS Express is indicative of a real trend: lenders are hurting for volumes too so they’re reaching out to brokers with Web technology as well. Lenders want to keep their broker partners happy to ensure that all that business is sent their way.
Leveraging Technology for Growth
It has been a sellers market in the Bay Area for some years now, but things have started to slow down a bit for the typical broker. I speak about technology often in my on-line articles and also in my classes. The real reason brokers today need to utilize the latest technology is to stay competitive with the big firms and to stay up with lenders throughout the country.
Limited Options Get More Conversions
About 15 years ago, when I was a branch loan officer at Downey Savings and Loan, I got calls everyday from bank customers asking about our rates. I finally figured out why I received so many "rate" calls; they didn’t know what else to ask.
Amazing New Technology makes life easier for Brokers
I started doing mortgage loans in the 80’s and all paperwork in those days was done in a very thick file put together for the borrower, which would sometimes be 3 inches thick. Today things are moving in the direction of paperless processing.
New Web Technologies for the Mortgage Industry
Web-based technology is always evolving. The latest trend is to offer the technology in what is called Software as a Service model. This model breaks up the technology into services for the broker to decide what he or she wants and pay for that feature alone.
Study Assesses Mortgage Payment Reset Impact
SANTA ANA, CA — First American Real Estate Solutions; the nation’s largest provider of advanced property and ownership information, analytics and services, released a new study today that investigates the impact of mortgage payment reset by providing insight into who will be most affected when adjustable-rate loans convert from low, teaser interest rates to higher prevailing mortgage market rates.
Don’t Let Slowdowns Get You Down
Many brokers are always a little nervous about the year to come. Will business be as vibrant as it was last year? I believe these concerns may have more validity this year then we have seen in the past few. Let’s face it, we are in a rising interest rate market. Home inventories have been increasing in most national markets, there are many more in house lenders to compete with and the refinance boom has clearly ended. Where will your business come from in 2006?
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