Origniators Giving Back–Mortgage Revolution New York

Despite the industry news, bad press and other negative talking points, there are many in the mortgage industry giving back.

Mortgage Revolution is about leaders teaching leaders. Mortgage originators who are in the field ever day helping clients training other originators what is working in today’s market.

Some of the past speakers have been

Mortgage Revolution is committed to putting on the industry’s finest sharing and teaching experiences for originators while donating all proceeds to charity. The event in New York will be the final event of the year and should be the catalyst for any originator truly committed to their industry.

The organizers and founders listed below have been the inspiration for these events.

Media Partners:

If you are in the business and feel this is truly your career of choice, Mortgage Revolution is one event you can’t afford to miss.

If you are searching for a home, home loan or just simply reading this and are shopping, ask if YOUR Loan Officer is traveling to New York for the industries greatest teaching, learning and sharing experience. I look forward to seeing you in Tarrytown.

Are FHA Loans Assumable? You Bet!

A great financing option that real estate agents need to know about ,if they are listing a home for sale, is if the home has an FHA mortgage that was originated after December 15, 1989.  Why?  Because the loan is assumable!  More Info and Mortgage Talking Points(tm) “FHA Assumptions=More Sales” can be found at www.MortgageCurrentcy.com 

Here are some of the rules:

Buyer must qualify based on credit–(Servicer may be more lenient about the score)

Loan Fees are lower–(Servicer will charge for processing–usually a flat fee)

Seller may pay buyer’s closing costs

Secondary financing and borrowed funds may be used by buyer (Must qualify for all payments)

Sellers will be released of liability

What’s prohibited:  If buyer purchasing to use as investment property or 2nd home (some exceptions heres), loan is NOT assumable

At the time the home is listed for sale, real estate agents should order an “FHA Assumption Package” from the company servicing the loan.  They will also be the ones processing the paperwork. Great info to share with real estate agents–especially on Face Book!

Social Networking For Loan Officers

So we’ve been chatting about social networking here on Day #3. There’s been alot of talk about sites such as Twitter, FaceBook, MySpace and others. (Active Rain and LinkedIn as well) The big question out there seems to be whetehr or not this is a profitable use of your time. Here’s my take on the subject:

– Anything that can expand your Sphere Of Influence gets a big thumbs up from me

– Anything that can become viral gets another thumbs up

– Any tool can be abused and drain your time – Smart time management is required

– Never try to use social networking as an excuse to ignore offline networking and prospecting efforts

I only recently began using these tools to market the Loan Officer Marketing Lab, but I’ve been using “the big 3″ for the last few years to market my web development firm. Let me tell you… It works – but it must be managed as a database tool.

I view people as my only true asset in business. If no one is there to hear my marketing message, then what is the point of being in business. If I have a group of people ready and willing to hear what I have to say, then no matter what I’m selling, I have a pre-built audience. The competion who ignores building a database, and online “audience” will always be 30 steps behind you since every time they wish to bring in more business, they have to market to cold groups as opposed to warm.

That’s the beauty of social networking – It builds your audience, it exposes you to more people you otherwise never would have had an opportunity to market to, and it’s relatively painless to build. Use these tools in a respectful manner, and you’ll soon grow to love social networking as well. Here’s a handy little guide we posted to the blog this morning:

http://www.loanofficermarketinglab.com/3unbreakablesocialmedia.pdf

Make it a great one!

CW – Loan Officer Marketing Lab