Mortgage Broker Forums at Broker Outpost

Australia has makes sense immigration policy (by: Scrooge McDuck)

Maybe I am crazy but this seems to be a common sense immigration law. Australia will actually move people who SPEAK THE LANGUAGE and HAVE THE SKILLS THEY NEED ahead of non-English speaking immigrants. They decided letting in people who dont speak English is actually not as preferable to immigrants who can ASSIMILATE. Open door for skilled, English-speaking migrants Article from: The Courier-Mail By Renee Viellaris February 08, 2010 12:00am SMARTER, English-speaking migrants who want to work in Australia will jump the queue under a major immigration shake-up to be announced today. And about 20,000 migrants who have applied for work visas will be denied entry and refunded $14 million in application fees because their English is not good enough. Immigration Minister Chris Evans will outline a new direction for the skilled migration program, complementing the economic strategies of the states, and helping big businessmen such as mining magnate Clive Palmer get the skilled labour needed to roll out billion-dollar investments. It will allow Queensland to broaden its ability to migrant head-hunt, plus show the Commonwealth under new state-based migration plans where it has brain drains and vocational weaknesses. Arguing that the reforms would end the "deli-counter dispensing" system, where migrants were "served" in an "order", Senator Evans will reveal the scrapping of a labour-shortage list that includes cooks and hairdressers and a loophole making it easier for overseas students to remain permanently in Australia will be tightened. "(The Migration Occupations in Demand list) encouraged overseas students to train in particular occupations to make it easier to acquire permanent residence, in the process skewing the skilled migration program to a narrow set of occupation," Senator Evans will tell the Australia Demographic and Social Research Institute. "It is worth noting that the changes will in no way impact on the many international students coming to Australia to gain a qualification and return home. "A 2006 survey of new migrants found that 18 months after acquiring permanent residence half of those who came in via MODL were employed in that occupation but a third of them were either unemployed or working in an unskilled job." About 170,000 people applied to live and work in Australia as a skilled migrant last year, but only 108,100 were selected. The migrants who will be rejected applied to come to Australia before standards were raised in 2007. A new targeted list of professions will be introduced mid-year and the "points" system re-evaluated with the potential for more weight to be placed on English as a first language and qualifications acquired from top overseas universities. Senator Evans said under the current scheme a Rhodes scholar could be rejected for a visa, while cooks and hairdressers could expedite the path to permanent residency through training courses. - Last Post by: Scrooge McDuck on 02/09/2010 @ 07:18 AM

Lenders pursue homeowners after foreclosure (by: johnnyboy38109)

http://finance.yahoo.com/news/Mortgage-lenders-pursue-cnnm-3107909798.html?x=0 Mortgage lenders pursue homeowners even after foreclosure by Les Christie, staff writer, On Wednesday February 3, 2010, 3:21 pm EST As terrible as it is to lose your house to foreclosure, at least its a relief to put your biggest financial headache behind you, right? Wrong. Former homeowners may still be on the hook if theres a difference between what they owed on their mortgage and what the bank could sell it for at auction. And these "deficiency judgments" are ticking time bombs that can explode years after borrowers lose their homes. It can even happen to people who got their bank to approve them selling their home for less than it is worth. Vanessa Corey, for example, short sold her Fredericksburg, Va., home in April 2008. She and her husband built the house in 2004, but setbacks, both personal (divorce) and professional (housing bust), made it impossible for the real estate agent to keep her home. So she negotiated the short sale and thought that was the end of it. "My understanding was that the deficiency was negotiated away," she said. "Then, last November, I got a letter from a lawyer telling me I owed my lender $65,000. I had to declare bankruptcy. There was no way I could pay it." Many homeowners are now in the same boat. And not just those who took out bigger loans than they could afford or who did so called "liar loans" where they didnt have to verify their income. Because of falling home prices, borrowers who always paid their mortgage but who have run into unforeseen circumstances -- like unemployment or a job transfer -- can no longer sell their homes for what they owe. As a result, they are being forced to short sell or foreclose and are getting caught up in deficiency judgments. "After the banks foreclose, its very common now to have large deficiencies with houses not worth the balances owed," said Don Lampe, a North Carolina real estate attorney. Lenders mostly declined comment. Although Coreys lender, BB&T did indicate it was pursuing more deficiency judgments. "They follow the rise and fall of foreclosures," said the spokeswoman, who would not discuss Coreys account. Can they come after you? Whether banks can and will pursue deficiency judgments depends on many factors, including what state the borrower lives in and whether theres a second mortgage or other liens. But if borrowers ignore the possibility of deficiencies, it could haunt them. "Once they have a judgment, they can pursue you anywhere," said Richard Zaretsky, a board-certified real estate attorney in West Palm Beach, Fla. "They can ask for financial records, have your wages garnished and, if you fail to respond, a judge can put you in jail." In the case of foreclosure, lenders can pursue deficiencies in more than 30 states, including Florida, New York and Texas, according to the U.S. Foreclosure Network, an organization of mortgage law firms. Some states, such as California, are "non-recourse" and dont allow deficiency judgments. But, even there, if the original loan was refinanced, some or all of it may be subject to claims. Deficiency judgments on short sales and deeds-in-lieu can happen in many more places. In these cases, extinguishing the debt is often a matter of negotiating with the bank. But even when lenders are willing, many borrowers may not be aware that they have to ask for release. So, if you are pursuing a short sale, be sure your attorney asks the bank to release you from any further obligation. "People shouldnt have a false sense of security that a deficiency judgment may not be later sought," Zaretsky said. He expects many will be filed over the next few years, based on the fact that banks have sold many of these accounts to collection agencies and other third parties, at discount. "The parties who bought those notes wouldnt have paid money for them unless they had the intention of acting," Zaretsky said. Ticking time bomb What can be scary is that the judgments dont have to be obtained immediately. Lenders or collection agencies may wait until debtors have recovered financially before they swoop in. In Florida, the bank can wait up to five years to file. Once the court grants a judgment, the lender has 20 years there to collect, with interest. It doesnt have to be a large amount of debt for a lender or collection agency to come after borrowers. Richard Varno and his wife short sold their Nashville home back in 2004 after he lost his job. It wasnt until 2008, when the second lien holder asked him for $25,000, that he realized he still was liable. "I told them, Hey, you guys released the title," he said. "As far as I know, Im off the hook." He wasnt. Releasing title does not necessarily end the debt. Its complicated because of variations in state law, but, generally, a mortgage has two parts: a pledge of collateral, represented by the home, and a promise to pay off the loan. Lenders may release property liens in order to facilitate short sales without releasing borrowers from their obligations to pay under the promissory notes. The secured debt can convert to an unsecured one after the sale. Zaretsky had one client who was so relieved to have arranged a short sale that he signed every paper his real estate agent shoved at him, even a confession that clearly stated he still owed the debt. "He had no idea what he was doing," said Zaretsky. "All the lender had to do was go to court to convert the confession into a deficiency judgment." Lenders are also very inconsistent. One of Zaretskys short-sale clients was ready, willing and able to pay, but the bank did not even ask; another lender always reserves the right to pursue the deficiency. Strategic defaults Sometimes lenders go after borrowers walking away from their homes if they have other assets, according to Florida real estate attorney Larry Tolchinsky. "Banks are pulling credit reports to see if its a strategic default," he said. "If youre behind on all your other payments, youre okay. But if youre not, theyll come after you." If borrowers have any doubts about their risks, they should seek legal advice. Or, at least, call non-profit organizations such as NeighborWorks for advice. According to Doug Robinson, a NeighborWorks spokesman, its counselors always try to negotiate away deficiencies when they facilitate short sales or deeds-in-lieu. "We dont favor any short-sale contracts that leave any deficiency that can be pursued," he said. Robinson himself knows what can happen. He paid off a deficiency after his own New Jersey house went through foreclosure 11 years ago. - Last Post by: johnnyboy38109 on 02/09/2010 @ 07:17 AM

Hard Money Refi to FHA (by: ParagonInvestments)

I have a borrower that did a hard money purchase with a gift from her father for 30% down in December, had to go this way because she was stuck on the home and Ginnie Mae wouldnt extend the purhcase contract. I spoke with an AE and said that we can go FHA R/T refi because the borrower did a non-traditional purchase so there is no timeframe to do a refi, we have to get a new appraisal, but has anyone run into this type of deal or is the AE blowing smoke? - Last Post by: ParagonInvestments on 02/09/2010 @ 07:16 AM

Happy New Year...Debt Settlement LEADS (by: jstillittano)

Here is some information on our Debt Settlement Leads. How we generate leads: Email : We send out HTML emails to our opt-in only list which is 100% CAN-SPAM Act of 2003 Compliant Paid Search: We are working with cutting edge search engine optimization that is managing our bids on over 700,000 debt keywords. We are a major provider of the highest quality debt leads in the industry. Google, Yahoo, MSN The highest quality paid media placements. We pay good money to generate these leads, control the user experience, brand your company on the thank you page and email and send leads to you in real-time. What to Expect: Closing or enrollment rates: low end: 3-5% semis 6%-10% Exclusives Average credit card balances over the last two months: $30,000. Landing Page: http://www.reallygreatrate.com/try2a.html PDF with more information: http://www.reallygreatrate.com/tascSlick.html Your company will be branded in real-time on our thank you page (http://www.reallygreatrate.com/debtoptionthx.php?lenders=403). We give you the opportunity to present the consumer with your company name, logo and a dedicated #800 number. You will find that between 5-10% of the consumers that see your information on the thank you page will reach out and call you before you are able to call them. I know you hear the same story from everyone, but the difference with us is that we are telling you the truth where most other lead generation companies say what you want to hear. We are honest and very straightforward and I will be the first to admit that leads arent for everyone. Your team needs to be dedicated to making this work. If they arent it doesnt matter how good the leads are because they wont be worked properly and the campaign will be a waste of your time/money. We value your business, so let me know what I can do to get you set up with a test campaign to help you close more business. Please call me with any questions you might have. http://www.reallygreatrate.com/debtb2b.php?sales_id=Jeff Please do not keep our leads a secret. If you know anyone that wants to close more business and is interested in mortgage, loan mod, or debt settlement leads please have them call me. Referrals will be rewarded!! Thanks, - Last Post by: jstillittano on 02/09/2010 @ 07:13 AM

Motorcycles Park for Free? (by: MarkIFC)

So Ive been thinking about getting a bike so I am currently trying out my buddies Honda CBR 600, LOVE IT! Along with being able to ride in car pool lanes, I was welcomed to my building this morning and was told that parking is free ALL DAY since I am on a motorcycle! This is in a building where rates are $18/hr or $250/month! So I called the building management AND the city of Beverly Hills to make sure and it is true, parking is FREE for motorcycles. Is it like this in every major city? If so, this is another big plus for riding a motorcycle from time to time! Lastly, anyone know WHY bikes get to park for free?? - Last Post by: MarkIFC on 02/09/2010 @ 07:12 AM

Hosted Predictive Dialer Service! 100% LEGAL!!!! (by: raymondb)

Hosted Dialer Service FREE DEMO click here www.magnalogix.com Have you thought about going back to cold calling? What if you could use a dialer to help you reach more people with out buying any equipment or leasing any office space? What if you wanted to hire a telemarketer to work for you but didnt have a way to house them? What if you wanted to hire one to work from home but your a little nervous as to how hard they are really working? We can make all this possible with nor worries of you getting burned by your TM. You can watch them virtually with this hosted service.... With so many turning back to telemarketing I thought I would let you all know more about single station predictive dialers. There are several service providers out there so I constantly get the question.... Q: "What makes your system better than the others?" I answer this... THERE FLAT OUT IS NO COMPETITION....Our hosted dialer is completely web-based and has NO long distance phone bills since it requires NO phone line at all. We also offer no set up fees OR any long term contracts. Every client is month to month on each station no matter if they have one single station or 100 of them. The best part about our dialer is that you can dial from anywhere you have high speed internet, completely hosted though VoIP servers that are located in one of the LARGEST data centers in America insuring the best back end support so you never go down!!! I know I know, pretty amazing hugh? http://www.bestratereferrals.com/voip_predictive_dialer.html Here is the break down..... Dialer Service Includes.. *Little to Zero Call Delay *User friendly interface - no computer experience necessary *24 hour technical support *Automatically detects disconnected numbers *Detects 95% of answering machines *No long distance fees *No contracts or cancellation fees *Comprehensive web reporting and call statistics *UNLIMITED DIALING!! (no phone bills) Its very simple. Whether you are a single LO, small to medium size shop or one of the big boys this system will get you generating business. In addition to the great service, we also include a targeted database that you create for your campaign as well as scripts to ensure you get the best results!! You can read all about this dialer package here...... http://www.bestratereferrals.com/consulting-lpbp2.html IF YOU HAVE YOUR OWN DATA AND YOU JUST NEED THE DIALER HERE IS A LINK FOR YOU.. http://www.bestratereferrals.com/voip_predictive_dialer.html This normally runs $300 per month but if you order before August 15th you will be grandfathered in at $250 per seat. WE WILL ALSO OFFER MULTI SEAT DISCOUNTS BEYOND THAT!!! _____________________________________________________________________________________ ***ALERT*** BEWARE OF IMPOSTERS!! THERE ARE ONLY A FEW HOSTED SERVICES IN THE WORLD WITH THE BACK END I HAVE. Most providers have server sitting at the end of Time Warner Cable business link sitting under their desk, so no QoS, not very much bandwidth, no redundancy. We on the other hand are hosted directly in one of Americas largest data centers and I OWN THE TRUE TECHNOLOGY THAT HAS BEEN AROUND FOR YEARS. There are even members of this board that try and duplicate what I have but in the end those are cheap over night versions with no real validity! THERE SIMPLY ISNT ANOTHER MARKETING PROFESSIONAL ON THE PLANET THAT CAN DO FOR YOU WHAT I CAN WHEN IT COME TO DIALERS OR TELEMARKETING! If you have any questions please post away.... - Last Post by: raymondb on 02/09/2010 @ 07:11 AM

Mortgage Direct Mailers! list_print_postage (by: raymondb)

Types of Mailers FANNIE MAE, FHA,ARMS, REVERSE, VA, FHA STREAMLINE, PURCHASE, BAILOUTS, LOAN MODIFICATION, SHORT SALE, ...... WE HAVE MANY PIECES TO CHOOSE FROM OR CUSTOMIZE YOUR OWN With consumer confidence going back up due to recent rate drops, direct mail response numbers going back up on the latest version of FHA streamline, ARM recast, Purchase and Reverse Mortgage Mailers and postcards are all forms of marketing that are now working effectively. When rates are low and the people believe in our banking system then they simply respond better to our advertisements. this is obvious from the last few batches of mail campaigns. We are back over .75% on some of the #10 envelope drops and we have scene as high as 2.5-3% on the over night packages on certain drops. Bottom line for me is that Direct mail is working again for the mortgage industry. WE have several packages for the direct mail campaigns. Minimum starting as low aas 2500 pieces. We offer post cards, #10 envelopes and the 6 x 9 over night looking pieces as well. You can read more about our different printing and packaging here.... http://www.bestratereferrals.com/mailers.html WE also offer the best selection of databases around from ARM to FHA and reverse. We also work very hard on keeping our renters database up to date so that you can convert the renters in your area that make a good income to buyers. You can view our different databases here... http://www.bestratereferrals.com/data.html If you have any questions regarding any direct mail campaigns please post away. January Special 10% off the entire mail campaign (data included)!!! Thanks! - Last Post by: raymondb on 02/09/2010 @ 07:11 AM

Pre Screened Credit Bureau Leads! (by: raymondb)

Pre Screened Credit Bureau Leads! UPDATE: 12-10-09 Leads directly from the credit bureau meeting your exact credit filters. If you are running a marketing campaign that requires a specific credit score, loan amount, revolving debt, Bankruptcy,this is the only database you will ever need. These lists are very accurate (running 85-95%) I have upgraded my service agreement to a real time feed on the count system to ensure you have the most up to date and fresh information. You can filter for various industries... any mortgage program including Fannie mae, debt settlement, credit repair, and loan modification. Here are the filters I recommend for each niche... Mortgage -(FHA, Fannie DU +, VA, Reverse, conventional, debt consolidation loan, Purchase) Debt settlement- (20k+ revolving debt, multiple revolving trade lines with delinquencies, fico 620 or lower) Credit Repair- (500-600 fico, trade lines, delinquencies, late(s), home owners?) Loan Modification- (loan amount, 30-90 days late currently, no current bk) Every count and list is pulled fresh from the bureau specifically for that order...we DO NOT sell old or pre sold data like other vendors are known for! The bureau data is what I personally recommend for all mail campaigns and at least 75% of all call campaigns! What more can you ask for than to get the best marketing data from Broker Outposts most trusted longest lasting marketing source? And at the best price, Guaranteed! [;)] Let me know if you have any questions please visit our website here.... http://www.bestratereferrals.com/lists/credit_bureau_leads.html or contact me directly, contact info is below - Last Post by: raymondb on 02/09/2010 @ 07:10 AM

Exclusive Leads ! refi, debt settlment transfers! (by: raymondb)

AMERICAN OUTBOUND CALL CENTER UPDATE 7-6-09- We continue to grow![:)] Best Rate Referrals now offers Verified Tele-marketed real time DEBT leads! We call home owners that have more than 20k in revolving debt and lower than a 620 FICO. WE explain to them briefly what debt settlement and debt consolidation is and IF they are interested we take a mini application on them and send that lead to you for a call back with in 2-5 minutes. Pricing will depend on the quantity you order and also the amount of states you want. If you have any questions please shoot me an email 10-20% closing ratio nationwide! This thread is the only place I will make minimum 10 leads so you must mention this thread to get these deals....here you go... UPDATE: 6-10-09 - NEW! TELE-MARKETED FHA / VA LEADS we want to help you all take advantage of the rates being so low.. 10 leads = $50 per lead ($20 off normal pricing) 25 leads - $48 per lead ($20 off normal pricing) 50 leads = $45 per lead ($15 off normal pricing) 100 leads = $42 per lead ($15 off normal pricing) (for Cali add $20 per lead) For the last 5 years we have served the Loan Officer Community with our WARM, American generated tele marketed leads. WE have decided to launch the FHA specific leads since the rates are so low and Stream lines are really converting nicely. When we started out we had 6 telemarketers (3 yrs on this site alone with great feed back). Since that time we have grown to 24 seats. A large portion of this growth was because of this site, I have taken care of the people that order from me and it always came back to me in positive feed back. This has helped us become one of the more reputable companies in the business. With that said.... check this out..... KEEP IN MIND: These are the same great leads we have been generating for other BO members for over 3 yrs except now we are being more targeted for FHA streamlines!!!! Im proud to say that as this online community has been so tough on other vendors that our longevity speaks volumes for how we treat our customers!! We also have a great return policy....check it out... * Minimum loan amount of 100k in most states * Minimum loan amount of 150k in CA, FL * Minimum loan amount of 80k in TN, OH, MI, SC, PA, NM, ID, MO, AL, LA, MS * Minimum Interest rate 6% * No Mobile Homes * No BK in last 2 yrs * Valid Phone Number Please post any questions about this NEW FHA call center leads program....Thanks![:)] - Last Post by: raymondb on 02/09/2010 @ 07:10 AM

Generate your own leads! We show you how! (by: raymondb)

LOAN PIPELINE BUILDER SERIES!! PHAZE 4 NOW AVAILABLE!! UPDATE: January 21st, 2009 Our platform has grown with our phone carriers to the point where we were able to drop our pricing on everything dialer related....whoooohoooo! We launched the Loan Pipeline Builder Series back in Febuary of 2007. We did this to teach LOs and Brokers the art of cold calling through an easy to learn step system. The idea was to increase activity and teach the members of this board how to generate their own Exclusive leads. I have given some feed back below on each stage 1, 2 and 3 alog with a couple different options for phaze 4. Its a must read! PHAZE 1: http://bestratereferrals.com/consulting-lpbp1.html We designed Phaze 1 to get a LO some practce calling a trageteD local list of homeowners to get you feet wet, and get used to making dials and dealing with rejection. It was also to give a very in-expensive package of proven scripts and rebuttals so that the learning curve would be much less time consuming. We advanced about 40% of all Phaze 1 testers to the Phaze 2 step.... Much better than we exected, good job guys and gals. To learn more about phaze 1 you can read more here... PHAZE 2: http://bestratereferrals.com/consulting-lpbp2.html The purpose of Phaze 2 was to now increase the call volume of the LO or Broker shop who is confortable making dials. We do this by adding a single station predictive dialer. This web based system gives any sinlge person the abiliity to reach 3-4 times the amount of homelowners than ordinary manualy dialing This keeps the LO or Tele marketer connected and pitching most of the itme and eliminates the disconnects as well. The average user will generate 2-3 apps per day and 5-10 more loans per month using this dialer. PHAZE 3: http://bestratereferrals.com/consulting-lpbp3.html Once a shop or single LO is having success with the dialer they obviously see more closed loans. Once the shop is making that extra revenue they can upgrade to Phaze 3 and hire telemarketer to do the dialing part for them. This saves the LO valuable sales time and increases hours dialed and applications taken. In Phaze 3 we show you in depth (training material and phone consultation) how to hire, triain, and get the MOST oout of any telemarketer. The monthly cost of a telemakreter is incremental compared to the amount of revenue a good trained phone person brings any LO or shop. PHAZE 4: Complete Mortgage Lead generation System and Mortgage Marketing Consultation and Training!! Most people that hired telemarketers have had great success doing so as you can read in the thread through all the posts. Once you have one fixed cost making you more money cosnistently every month it gets very attractive to expand and hire more telemarketers. We share valuable information on EXACTLY how to do this, in fact I will personally do it for you, CHECK IT OUT!!!!..... http://www.bestratereferrals.com/mortgage_lead_generation.html OK Since the industry is a little slow I was trying to figure out ways to get more people the option of getting the phase four with a smaller up front cost. We have come up with this..... Option A) A full phase four that is 5 full days of me in your office, One day of set up and dialer training and then four days of telemarketing training. Depending on where you are in the country the job, including the dialer and my travel was around $20k. We have quite a few past clients and current clients working towards this goal. Option B) well to help you all get their a little quicker I put together a 3 day intensive training with me working 13 hrs days while Im there. This would save me two days of time which would allow me to do the same amount of training but in less time. This 3 day complete set up with software and dialer training along with telemarketing and cold calling training I can now do this for right around $15-16k depending on where you are. Savings if 15-20%. If anyone has any questions regarding this please let me know! OH yeah one more thing.... If you refer me anyone who wants a call center I will pay you a commission. For any 3 day phaze 4 I will pay $1000 and for any 5 day set up I will pay you $2000. I love referrals!!!!!!!!!!! Email me for other referral deals we are offering!! Thanks!! FINANCING NOW AVAILABLE on Phaze 4!! http://www.bestratereferrals.com/mortgage_lead_generation.html - Last Post by: raymondb on 02/09/2010 @ 07:09 AM

Realtor askes financing Question (by: Hopland)

I have a self employed buyer, inherited parents home that was on a reverse mortgage. Reverse Mortgages foreclose on the home, so a year ago, he was foreclosed upon with a house he never owned before - on a loan he never financed. Then, an attorney advised bankruptcy to get out from under any issues still surrounding the inherited house. FHA wont touch him for 3 years after the foreclosure. Are there ANY products still out there for harder case clientele? - Last Post by: Hopland on 02/09/2010 @ 07:09 AM

2010 super bowl lead give away! (by: raymondb)

OK GUYS AND GALS ITS SUPER BOWL TIME ONCE AGAIN! 2010 Last year we ran this and it was a lot of fun for the BO members.... Here we are another year later and we are ready to give some more FREE marketing away for the lucky squares during the super bowl. This is how it will work. I will take 10 by 10 grid and let you all fill in the squares one at a time (1 square per person) until all 100 are gone. 2 days before the Super Bowl, Ill put the numbers randomly going across the top down the side of the grid. These numbers will range form 0-9 for each. Then I will put the teams on there, one team on top and the other on the side. What ever the score is (last digit of that teams score) determines the winner based on the square they are in. This will be tracked on the forum here so it will be a free fun game to win a Best Rate Referrals give away.... This year we will add different prizes and you can start signing up again on this thread starting today! Here are the prizes for this year... Grand Prize (final score): 20 Telemarketing Mortgage Leads (you choose the type of lead!) or 2000 MAIL CAMPAIGN! 1st Quarter (score after first quarter): $400 voucher towards any marketing with BRR 2nd Quarter (score after second quarter): $400 voucher towards any marketing with BRR 3rd Quarter (score after third quarter): $400 voucher towards any marketing with BRR Lets have some fun and maybe get lucky and win too! If you have any questions please post away. The new page is up now.....check it out!! http://www.bestratereferrals.com/superbowl_grid_2010.html If you want some free marketing and you want to enjoy the super bowl just a little bit more this is your chance....You need to post at the end of this thread! GOOD LUCK and GO COLTS! ____________________________________________________________________________________ you can view last years results from the super bowl grid here..... http://www.bestratereferrals.com/superbowl.html - Last Post by: raymondb on 02/09/2010 @ 07:06 AM

Freddie Mac - LP (by: nutesch)

Where in the guidelines does it state that 55% is the max DTI for Freddie Loans? I got an LP accept at 59% but everyone on here says the max is 55. Where are you getting this information from? Please advise. Thanks. - Last Post by: nutesch on 02/09/2010 @ 07:06 AM

I got hit by a Drunk Driver this weekend (by: kunal)

I got hit by a drunk driver on my way to watch the super bowl at My Moms house with her husband. He side swiped me pretty bad. Guy kept on going. I was following him and got his license plate number. CHP is investigating. They went to his house and he was not home. His neighbors told the cops they had seen him drinking a 12 pack on his porch about an hour earlier. I am happy to be alive. 2 inches to the right and he would have spun me out at 70 MPH. The best part is his license plate # "TWO REEL" .... Made it pretty easy for the cops to find out who it was. - Last Post by: kunal on 02/09/2010 @ 07:05 AM

MISS ME YET?!??! (by: KathiB)

Must see Classic!!! http://tinyurl.com/yhj59mg - Last Post by: KathiB on 02/09/2010 @ 06:57 AM

Borrower w/Judgment but payment plan (by: pinnaclelenders)

I have a borrower who has a 680 credit score but has a judgement on his bureau which has a payment plan in place for the past 2 years with on time payments. Any lenders out there that allow this? - Last Post by: pinnaclelenders on 02/09/2010 @ 06:56 AM

Advice for someone entering the biz? (by: dmccoy6818)

Currently I have a job as an on-call airline pilot which leaves me ALOT of extra time and flexibility but an uncertain future. I have been thinking of pursuing a mortgage originator opportunity that I believe is there if I want it. It is with a self financed company (like Summit ect) which "provides leads" (which I would pay for; $20-$40/per). The firm is established in my region. Everyone from inside this company presents this opportunity as excellent but the couple of brokers I have talked with outside of this company stress how hard it would be to meet the 4 loans a month that is required and how "doom & gloom" this industry is now. I am looking for some honest opinions from some seasoned & some newbie professionals in the industry as to what is realistic of your lives and occupation. I am worried that I will get hired, give it all I got and end up with noting in a few months. This particular manager that will hire me claims that the brokers employed under him all have a minimum of 5 years with his company and one of his brokers will clear 300K but he is pushing for $400K for her this year (happens to be the only broker there i have ever met). Is this the carrot at the end of a stick? Will I be the broke dancing chicken on a hot plate for the branch manager to reap all the benefits? or is this a realistic opportunity to put my time into learning? - Last Post by: dmccoy6818 on 02/09/2010 @ 06:31 AM

DELRAP Process (by: tpierce110)

Has anyone had any luck with lenders approving projects under the DELRAP process? Is there a checklist to follow? Any feedback would be appreciated? Thanks. - Last Post by: tpierce110 on 02/09/2010 @ 06:31 AM

Im Back - Out of Time Out! (by: clydesnodgrass)

Ive been on a few week hiatus, I have been searching for the meaning of life with out broker outpost and its quite a bleak picture. Thankfully I am now back and the world is back in order. Things seems to be doing just fine around here, same old politics and crazy loan scenarios still! - Last Post by: clydesnodgrass on 02/09/2010 @ 06:29 AM

Aged TV Leads for Debt and Loan Modification (by: srusk23)

Aged TV Loan Modification and Debt Settlement Leads CONVERT...These people still need help! The leads were sold as a Live TV Call ONE TIME over the last 30 days. Youre the second person to call them! Bottom line, there is gold in these leads and the price is right! If you cant afford $35+ for a Live TV, get the next best thing! Remember these people still need help! Aged Loan Modification Leads and Aged Debt Settlement Leads can help your business save money and grow today!! No hassles with waiting for calls. If youre ship isnt coming in, swim out to it right?! Volume discounts available. Call for details! Regards Sebastian Rusk Kayne Consulting Corp 786-273-7875 direct sebastian@rusk.com www.KayneConsulting.com - Last Post by: srusk23 on 02/09/2010 @ 06:27 AM

Do More Loans! RE Agent Marketing Program! (by: clarenceworley)

I have been using a website software/subscription to create websites for real estate agents listings. Since I use and see the value in the service, I became a sales affiliate. The websites then get submitted to Craigs-List every 4 days or so, as well as several other real estate listing sites such as Trulia, Zillow, ELooky Loo etc. I then solicit agents who have listings to help them with marketing by creating websites, and all I ask for in return is mortgage financing referrals and to develop a business relationship. Many agents currently pay good money for sites that are not as high quality as the sites I create for them. I have found this service to be a win-win program to use to go out and establish real estate agent referrals: I am not just asking them for business but rather helping us both generate business. This is a great way to get your foot in the door with top listing agents. It also makes me feel more confident when cold calling agents. The service is relatively inexpensive monthly and allows for up to 150 websites to be created. 1 loan a year pays for the service. My sites average 25-35 hits a week and have 9 top agents signed up and 63 sites going. It is a great system. The current cost is $249/month for up to 150 websites. Personal success coaching, weekly webinars, and free and/or low fee time trials available. Check it out: http://www.domoreloans.com/e_testimonials.htm?refid=naitch6203 - Last Post by: clarenceworley on 02/09/2010 @ 06:27 AM

MBSratewatch subscription for sale - Im out! (by: 1stintegritymortgage)

Hey guys� After 7 good years as a mortgage banker, Im getting out. I have a great subscription for sale that would help someone... MBS ratewatch (aka www.MBSauthority.com)is a great tool for keeping track of the market and knowing when to lock and float. It made me lots of money last year. (see the daily email below) Along with this you can log into the website and see what is happening with the MBS market in real time. Unfortunately, once you pay the annual subscription, they will not give any kind of refund. My subscription renewed on Jan 5th. Since I exited the business last month, that means I have 11 more months of subscription available to someone. The renewal price was $399.00. It is good thru 1/5/2011. Anyone interested at $250?? (Ill entertain offers, of course!) Im just trying to recover some of the $$$ lost in the shutdown of the office� Please do me a favor and forward this to anyone you know that is serious about being a loan officer. This is a great tool! You can email me at ddmccoy@insightbb.com Thanks, Dan - Last Post by: 1stintegritymortgage on 02/09/2010 @ 06:20 AM

Paying credit card bills before mortgages (by: Scrooge McDuck)

The paradigdm shift continues ... --------------- By Luke Mullins [U.S. News & World Report] , On Monday February 8, 2010, 2:49 pm EST Amid high unemployment and sliding home prices, a growing number of struggling consumers are doing what was once considered unthinkable: paying their credit card bills instead of their mortgages. A recent study developed by TransUnion found the percentage of Americans who were current on their credit cards but behind on their mortgage increased to 6.6 percent in the third quarter of 2009, up from 4.3 percent in the first quarter of 2008. Meanwhile, the share of consumers making mortgage payments on time but behind on their credit cards moved in the opposite direction, sliding from 4.1 percent to 3.6 percent over the same time period. The data reflects a "fundamental paradigm shift" in the way consumers prioritize payment of debt obligations, says Ezra Becker, of TransUnion. "This is dramatically different," he says. "It is a clear manifestation of the dynamics that lead up to the recession and the recession itself." [See Strategic Defaults and the Foreclosure Crisis.] Before the housing crisis, bankers typically operated under the assumption that homeowners would do whatever possible to remain current on their mortgage--even if that meant falling behind on other bills. "It used to be that the mortgage was sacrosanct," says Keith Gumbinger of HSH.com. "You paid it before anything else." But a combination of factors linked to the current economic mess--falling home prices, high unemployment, and tight consumer credit--have lead many consumers to prioritize credit card payments above mortgage bills. "This sort of thing is what keeps bankers awake at night," Gumbinger says. The development is rooted in the housing bust. When home prices turned south--falling roughly 30 percent from their peak in the second quarter of 2006--a great deal of borrowers watched the value of their homes drop below what they owed on their mortgages. Today, roughly one in four homeowners finds himself in this position, which is also known as being "underwater." Without equity in their homes, such borrowers are more likely to default. "They dont see any value in putting money into an asset that has lost that much value and will probably never regain that value to offset the mortgages," says Celia Chen, of Moodys Economy.com. [Check out Home Prices Stabilize Further, But More Drops May Be in Store.] At the same time, the breezy credit standards of the first half of the previous decade worked to reduce the psychological investments that consumers made in their properties, Becker says. "A lot of people were able to get their homes with very little down payments or no down payments," he says. "So there was no real [sense of] I worked really hard to achieve home ownership." Instead, "achieving home ownership came very easy," Becker says. But while walking away from a mortgage--even, at times, when borrowers can afford it--has become a less radical prospect, remaining current on a credit card has grown increasingly important for many Americans. First, credit cards can be used to pay for basic necessities, like food, gas, or clothes. And with the unemployment rate remaining near double digits, purchasing such items with credit has become more and more essential. At the same time, the tighter credit environment has made credit cards more difficult to obtain, Becker says, so consumers have become increasingly concerned with hanging on to the cards that they have. "It is hard to operate in our society without a credit card today," Gumbinger says. Still, another key factor is the disparate consequences associated with defaulting on a mortgage versus those for falling behind on a credit card. National anti-foreclosure efforts have worked to significantly extend the time period between a borrowers initial mortgage default notice and the foreclosure itself, says Edward Pinto, a former chief credit officer at Fannie Mae. "The last thing you have to worry about at this juncture is paying your mortgage because by the time they foreclose it could be six months, 12 months, or a year and a half down the road," Pinto said. A credit card, however, can disappear much quicker, Becker says. "If you go a couple months without paying your credit card bill, they are going to close your account," he says. "You wont be able to access your credit." A credit cards ability to finance basic necessities--and the swift consequences of default--make the trends highlighted in the TransUnion study less startling, especially in a time of high unemployment and widespread negative equity. "For a borrower who has got a significant [cash] shortfall, it is a completely rational decision [to pay off a credit card bill while defaulting on a mortgage]," Gumbinger says. Still, Becker notes that none of these decisions are simple. "When you hear about strategic defaults, and people choosing to walk away from their mortgages, nobody is flip or carefree about that," Becker says. "Decisions about who you are going to pay and who you are not going to pay are incredibly stressful." - Last Post by: Scrooge McDuck on 02/09/2010 @ 06:17 AM

Undercover Boss ... new realty show (by: Scrooge McDuck)

I watched it last night as I was too lazy to turn the channel ... but then I was glued to the TV. The show is great and I think that CBS has a winner on their hands. Last nights episode was on Waste Managements President and COO going undercover to check out his companys operations. Next episode would be on Hooters ... and I cant wait to see it. If you have not seen it, you missed something good. If you did see it, what did you think? - Last Post by: Scrooge McDuck on 02/09/2010 @ 06:14 AM

Healthcare reform debate on TV (by: darkstar)

It is about time that citizens get to see and hear both sides make their cases for or against healthcare reform. I hope that people will make time to watch and decide for themselves rather than relying on TV talking heads to translate for them. This is a good thing for democracy. - Last Post by: darkstar on 02/09/2010 @ 06:05 AM

hard money ny (by: alexmazua)

Need hard money loan for o/o property in ny, credit not bad 25% ltv house is currently paid off. any suggestions for lenders? - Last Post by: alexmazua on 02/09/2010 @ 05:48 AM

Refinance Live Transfers Leads (by: alexmazua)

We Offer Live transfers For Mortgage which is one of the best in industry. With one of the lowest rate of 35$ per live transfers. We offer you 3 free leads as a sample leads so that you can check the quality of the leads. We provide you with 24*7 back up support for the leads ]if any leads is out of filter than its replaceable with in 24hrs. Filters are -- Minimum of 150000 as a loan amount Minimum of 650+ credit score Maximum of 80% as Ltv. Minimum of 6% as interest rate. Maximum of 49% of DTI. All 50 States For further details houseofleads@gmail.com Note :35$ per live transfers are for exclusive live transfers.Rates are negotiable for bulk leads order. - Last Post by: alexmazua on 02/09/2010 @ 05:44 AM

Loan Mod Company in ALL 50 States (by: loanmodificationprocessing.com)

Loan Modification Processing Service by Mortgage Professionals We are experienced mortgage professionals that can handle all your loan modification back-end processing needs. We know the guidelines, DTI and all bank requirements for a successful loan modification. We perform audits on all loans and use violations as leverage for interest rate and possible principle reduction. Processing Types: • Residential • Owner Occupied, Investment Properties, 2nd Homes • 1st & 2nd Trust Deed’s • Mortgage Lates, NOD, or even Trustee Sales. O.k. Quality Support When, Where and How You Need It. We understand that your business and your customers cannot be put on hold. Our client support services are available 24/7 via phone, website or e-mail so you can count on receiving knowledgeable, real-time support from consultants with a high level of expertise in our solutions. Knowledge. Experience. Commitment. Each member of our client support services team has an extensive background in the loss mitigation and Loan modification industry and has had hands-on experience with use of our products and services -- the average tenure is five years. With a high level of commitment to provide quality support and meticulous attention to all client issues-- regardless of company size our team has a reputation in the industry for consistently going the extra mile to serve our customers. www.loanmodificationprocessing.com Processing Fee: includes 2nd & Forensic Audit Call Michael at 1-877-375-6266 - Last Post by: loanmodificationprocessing.com on 02/09/2010 @ 05:40 AM

Professional Loan Modification Software Solution (by: loanmodificationprocessing.com)

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MARKET to REAs & Get DEALS from the SOURCE (by: datalyst)

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HERES HOW ITS DONE E-mail marketing is how many (if not most) "lead providers" get their info. For the professional marketers it is low cost, immediate, trackable and extremely effective. You can pay $30 per lead and be forced to buy in quantity, say 50 or so minimum. That would be $1,500 just to get the same data that might have been sold to 50 other LOs the same week regardless of some "exclusive" offer, depending on how much you trust the particular provider. Or you can GENERATE your own PRIVATE leads by doing the marketing yourself We have customers every day who do this and they keep coming back, so their business model must be working for them. Many admit they simply cherry pick the leads and then SELL the rest (usually paying for their marketing costs by selling the "unwanted leads"). This works for all lead types: purchase & refi, credit repair, debt settlement, loan mods, short sales, recruiting, etc. E-mail marketing can consistantly work, but it is not for everybody. You cant be shy or afraid about what others may think. It is just business - make a plan and work it.
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