Tools for Mortage Marketing Pros

About MortgageMarketingProfessionals.com

We created this website to help mortgage brokers, loan officers, real estate agents and other business professionals in the mortgage industry. Our goal is to educate and inform individuals who are involved in the mortgage process about new solutions and methods of doing business in today's market. Our articles are written by some of the mortgage industry's leading businesspeople who want to share their testimonials and opinions with others. We thank you for your interest and ask that you return to our site regularly for the most up-to-date mortgage marketing techniques and educational resources. We want to empower our readers with specialized information to help you achieve your goals and become the best mortgage broker, agent, or loan officer you can.

MOTIVATION!

Friday, 26 March 2010 10:11 |

Written May 1st, 2008 by Raymond Bartreau

motivation Off the topic of Direct Marketing I have been thinking of alternate ways for LOs to make money while you grind this thing out. You don’t even have to change much about what you do EXCEPT WORK A LITTLE HARDER for your potential borrowers and TURN DOWNS!!! Think about this for a second……We are all taking more applications now than we have in the last couple years but for most it’s the qualifying the prospects that is the issue. I talk to so many Loan Officers and Brokers alike that just throw that stuff away…….WHY WOULD YOU DO THAT?

Going Stated

Friday, 26 March 2010 09:38 |

Written May 19th, 2008 by Mr. Commercial

moneyhomne Many times a borrower or broker says they can not go Full Doc and must go Stated. This is not necessary most of the time. A lender can roll the loss from the taxes back into the loan to show the profit. Losses such as traveling expenses and car payments can be added back into as profit, as well as one time charges like a new roof. (and there are many more examples) Structuring this as a Full Doc loan will result in a stronger deal, better rate, and better terms. Knowing how to structure this part of the deal and getting the tax returns will keep you competitive against your experienced competition who would know how to structure the deal and go full doc.

6 Things Mortgage Marketing Professionals Should Know

Friday, 26 March 2010 09:24 |

Written May 21st, 2008 by Tim Enbody

When buying a home, there are two stages in the home loan approval process.

Stage 1 starts when a home buyer submits a mortgage application to his loan officer for a pre-approval. A pre-approval is a “walk-through” mortgage approval that says — at a given purchase price and down payment amount — the home loan application will very likely be approved. Stage 1 ends when the buyer signs a purchase contract on a home. At this point, the “walk-through” approval is useless because the buyer now needs a real home loan approval from an underwriter and not a loan officer.

Credit Reports Explained

Friday, 26 March 2010 10:16 |

Written April 19th, 2008 by HTDI

Personal information

The top part of your credit report has the identifying information. It includes your name, social security number, date of birth, current and former addresses, any employment history reported to the credit bureau, alerts on file and a consumer statement if you have one.

Where the information comes from

Creditors report consumers’ identifying information along with their account information to the credit bureaus, as do public record collectors with public records. Sometimes when inquiries are made, identifying information that’s typed in also gets reported by creditors.

Statute Of Limitations For Debts

Friday, 26 March 2010 10:10 |

Written May 5th, 2008 by HTDI

taking_notes I had come across this when asked by another member of WN. I figured I would share it openly for those who wanted a more clear definition. The link to article and the chart is below.

The statute of limitations (SOL) for a delinquent debt is the time limit for the creditor to file a lawsuit. This period starts when the debtor becomes delinquent. The fact that the SOL has “run” (expired) on a particular debt will not necessarily prevent a lawsuit from being filed (via a Summons And Complaint), but the defendant can have the suit dismissed on this basis.

New Star Funding Corp.

Monday, 09 October 2006 08:23 |

Welcome New Star Funding Corp to the Outpost!

We are a Correspondent Lender whose corporate office is based out of Old Bridge, NJ. Our company was built on the foundation of honesty and integrity. Our success depends on the quality relationships that we develop and it's our hardworking, intelligent, and honest Branch Managers and Loan Originators who get us there.

With employees that value honesty and service, we help our customers in obtaining the lowest rates possible while they maintain the...

Source: http://www.brokeroutpost.com/loans/blog/2006/10/new-star-funding-corp.asp

Lead Source

Tuesday, 17 October 2006 17:48 |

Everyone please welcome Lead Source to the Outpost. The owner Steve Wachs contacted me and assured me he would do everything in his power to make sure Outpost members are taken care of. He also assured me that if he cannot fulfil an order in a timely manner he wouldn't accept the business. Please email me directly and keep me updated on your experiences with Lead Source.

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Lead source is a mortgage telemarketing center based in Cincinnati, Ohio, providing exclusive mortgage telemarketing leads...

Source: http://www.brokeroutpost.com/loans/blog/2006/10/lead-source.asp

Loan Runner, LLC. Subprime Pricing and Eligibility Systems

Monday, 23 October 2006 10:43 |

Please welcome Loan Runner to the Outpost!

Loan Runner is the company that gave the industry its first universal subprime pricing engine. We have a complete suite of products to help everyone, from the single loan originator to the national lenders.

Loan Runner's focus has always been on accuracy, so you don't have to re-handle the file, over and over. Since its inception, Loan Runner has added numerous new factoring modules to give you even more accurate pre-quals than the lenders own engines! ...

Source: http://www.brokeroutpost.com/loans/blog/2006/10/loan-runner-llc-subprime-pricing-and.asp