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FHASecure
Issue 017
November 2008
TheNicheReport.com
16What you need to know.
21 Diversication23When opportunitiespresent themselves.
27
More contacts with leeort.
Creating a 18Call Capture LMachine
Managing thePeaks andValleysTips to help you manageyour cash ow.
See our adon Page 7
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PRIME & FHA
NONPRIME & ALTA
REVERSE MORTGAGES
HARD MONEY
CONSTRUCTION/REHAB
COMMERCIAL
NICHE REPORTSCONTENTS Issue 016 October 2008
FOUNDER & PRESIDENTRobert Pegg
CO-FOUNDER & PRESIDENTDavid [email protected]
EDITORIAL / CONTENT MANAGERKristen [email protected]
COPY EDITORStewart [email protected]
ACCOUNTING MANAGERShawna [email protected]
SALES MANAGERMark [email protected]
PRODUCTION MANANGERHenry [email protected]
PRODUCTION ASSISTANTDawn [email protected]
ADVISORY BOARDAaron KrownePresident and CEO, IEHI, Inc.
COLUMNISTSStewart Mednick
CONTRIBUTING AUTHORSRaymond BartreauJerome MayneTom NinnessLeslie PetersenGretchen Underwood
16 FHASecureLESLIE PETERSENwww.mortgagecurrency.com
Ethics: Perspective
of a FelonJEROME MAYNEmember of the national SpeakerSaSSociation & the real eStateeducatorS aSSociation
Strive to be honest, diligent andconsistent.
13
DiversicationRAYMOND BARTREAUpreSident of beSt rate referralS
When opportunities presentthemselves.
23
Creating a 1800#Call Capture LeadMachineTOM NINNESSVice preSident/regional production
manager for cherry creek mortgageMore contacts with less eort.
27
Managing the Peaksand ValleysGRETCHEN UNDERwOODaSSiStant Vice preSident of thecommercial banking group
Tips to help you manage your cash
ow.
21
DEPARTMENTS
What you need to know.
09 NOTE FROM THE FOUNDER
10 CALENDAR OF EVENTS
33 TIP OF THE MONTH
44 LENDER & RESOURCEDIRECTORY
Center Stage withNetmore AmericaTHE NICHE REPORT
A next generation mortgagebanker.
29
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SUBSCRIPTIONS
This publication is intended or real estate fnance
proessionals. I you are a mortgage broker, lender, loanofcer and you do not currently receive The Niche Report,please send your name, company name, and address [email protected].
Send address change requests to [email protected] to include the old address.
To opt-out o receiving The Niche Report, please send yourrequest, including name, company name, and address [email protected].
ADVERTISEMENTS
To inquire about advertising in The Niche Report, please call540.657.2632, or send an email to [email protected] our website, www.TheNicheReport.com to download acopy o our Media Kit.
EDITORIALS / ARTICLES
To submit an article or consideration in The Niche Report,please send an email to [email protected] or call540.657.2632. We are interested in original writings relevant tomortgage brokers and other real estate fnance proessionals.
I you have a comment or question about an article or editorial
published in The Niche Report, or i you have a suggestion or atopic you would like to see eatured in a uture issue, please sendan email to [email protected].
THE NICHE REPORT POLICY
The inormation and opinions expressed by contributingauthors and advertisers within The Niche Report do notnecessarily reect those o BODA Publishing, LLC employeesand should not be considered as endorsed or recommended byBODA Publishing, LLC.
Published monthly by BODA Publishing, LLCPO Box 2618, Staord, VA 22555Phone: 540.657.2632 Fax: 703.991.2362Email: [email protected] www.TheNicheReport.com
We originate commercial loans in all 50 statesas well as FHA and Residential Loans in CA, NV, OR and
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NOTE FROM THE FOUNDER
TheNicheReport.com
This evening I am driving over to a potential clients house to discuss their options
or getting out o an oppressive mortgage that is slowly drowning them (and their
ARM hasnt even recalculated yet). I know rom talking with them over the phone
that they are underwater in their current mortgage and there is not even a one per-
cent chance they will qualiy or a new mortgage. You may be asking yoursel then
why go over there i you know they wont qualiy? My answer is that not only is
this the right thing to do, but these olks need sound advice and help fguring out
their options. I may be able to reer them to one o many reputable business part-ners I have aligned mysel with in this struggling market.
I mention this story because in this issue o TNR we have many articles related to
helping you, the loan originator, oer potential clients those dierent options. Leslie Petersen, who has
over 30 years experience in mortgage lending and also writes or MortgageCurrentcy.com, is back with
our eature article on FHASecure. The media and government are touting the new Hope or Homeown-
ers (H4H) program as the savior to this oreclosure mess, however, Leslie frmly disagrees and she will tell
you why. We also have Raymond Bartreau, President o Best Rate Reerrals and a nationally recognized
marketing consultant, writing on the topic o building multiple relationships with reputable proession-
als who specialize in all o the ollowing: credit repair, loan modifcation, short sales, debt settlement and
Bankruptcy Law.
I would like to take this opportunity to publicly thank VAMB, especially the Executive Director - Steve
Baugher. We recently attended the 20th Annual Convention held in Virginia Beach. He and VAMB made
us eel extremely welcomed and put on a great show. Steve/VAMB Thank you, TNR looks orward to
next years convention and will be here to help VAMB in any way we can.
This month we are o to NAMB/West at the MGM Grand in Las Vegas Nevada (check out the TNR
calendar or dates and details). The vendor lineup looks very well-rounded and I invite anyone attending
to stop by and visit our booth, # 623. Look orward to seeing you there.
Keep up the fght,
Robert Pegg
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NOVEMBER 6
MBAs Residential Underwriting
Conerence at the Embassy SuitesTampa - Downtown ConventionCenter in Tampa, FL. Visit www.mbaa.org or details.
NOVEMBER 7
MBAs Residential UnderwritingConerence at the Embassy SuitesTampa - Downtown ConventionCenter in Tampa, FL. Visit www.mbaa.org or details.
Housing Forecast/Pending HomeSales Index released by the NAR
NOVEMBER 15
NAMB/West 2008 Conerence at theMGM Grand in Las Vegas, NV. Visitwww.namb.org or details.
NOVEMBER 16
NAMB/West 2008 Conerence at the
MGM Grand in Las Vegas, NV. Visit
www.namb.org or details.
NOVEMBER 17
NAMB/West 2008 Conerence at the
MGM Grand in Las Vegas, NV. Visit
www.namb.org or details.
NOVEMBER 18NAMB/West 2008 Conerence at the
MGM Grand in Las Vegas, NV. Visit
www.namb.org or details.
3rd Quarter Metro Home Prices/State
Resales released by
the NAR
NOVEMBER 20
CommercialLeading Indicator
released by the
NAR
NOVEMBER 24
October Existing-
Home Sales released
by the NAR
DECEMBER 4MBAs Commercial/
Multiamily Capital
Markets Winter
Conerence at the
Ritz Carlton in
Washington DC.
Visit www.mbaa.org
or details.
DECEMBER 5
MBAs Commercial/MultiamilyCapital Markets Winter Conerence athe Ritz Carlton in Washington DC.Visit www.mbaa.org or details.
DECEMBER 9
Housing Forecast / Pending HomeSales Index released by the NAR
DECEMBER 17
Commercial Real Estate MarketForecast released by the NAR
DECEMBER 23
Existing-Home Sales released by theNAR
CALENDAR OF EVENT
10 November2008
u k ds & evs: NOVEMBER & DECEMBER
DECEMBER 2008
S M T w T F S 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31
NOVEMBER 2008
S M T w T F S
1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30
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D
oes it come as a big surprise
that a convicted elon
indeed, a white collar crim-inalwould have developed some
thoughts about the topic o ethics?
Probably not. Since my conviction, I
have had plenty o time to ponder the
idea o ethics, and Ive conducted some
research on my own about the subject. In doing so, Ive
received tons o advice. I must say, I wish Id had this
inormation at the beginning o my career.
In 1999 I began serving a 21 month ederal prison
sentence or conspiracy to commit mail and wire raud.
The crime involved our real estate investors submittingraudulent documentation in order to get approved or
residential home loans. I was their loan ofcer. Ater
the frst ew transactions, I knew in my heart that some
o the documents I accepted were akes. Over a nine
month period I gradually started participating in the
profts.
I have been told by some people that my crime was
raud lite. Some have said that I was unlucky; wrong
place at the wrong time. Well, there is no such thing as
raud lite, and luck has nothing do with making the right
decisions. I committed a crime. I am not proud o it andIm certainly no hero or talking about it now.
However, there is an ethics lesson to be learned in all
o this.
Dictionary.com defnes ethics as a set o principles o
right conduct.
My understanding o being ethical was that I base my
decision to do or not to do something on the eeling I get
in my stomach. I thats the case, how does someone teach
stomach eeling to someone?
Perhaps this logic is what led me astray.In a business Code o Ethics, one cant possibly
account or every situation. For every principle o correct
conduct; or every right way to act in one situation,
there is a dierent situation that ollows, that may require
yet a dierent right way to act.
I was traveling in my car with my boys, our and
seven years old. In the rear-view mirror I saw the older
one punch the younger one on the arm. The young one
howled, aaahhhhhhhhooooooowwwww-auh! I said,
Hey! Dont punch your brother. Immediately, the
older one slapped his little brother in the arm. I said,Dont slap your brother either. This was ollowed by
a poke, which I ollowed with, dont poke. A tickle
Dont tickle. Then just a touch. Finally, I said,
keep your hands to yoursel, period! The instigator
was reduced to leveling a taunting glare at his younger
sibling.
This could have gone on or hours. I fnally gave
them the ol, Dont make me come back there! (Which
o course made no sense since, I was driving.)
Doesnt this example prove that there are simply
too many variable situations in the real world? Yes, butthrough my experiences, I have learned that ethics isnt
about situations. It is about people and their behavior.
Ethics doesnt stand or what to do. It stands
or how to behave. Finally understanding this made
ethics less conusing or me. Not crystal clear, just less
conusing.
For employers and leaders, it is imperative that you
TheNicheReport.com
ETHICS: PERSPECTIVE OF A FELON
BY JEROME MAYNE
Strive to be honest, diligent and consistent
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have a set o principles o right conduct. But to simply
disseminate this inormation in printed ormat will
not be enough. Ethics are best conveyed by example.
Additionally, violations o ethical standards must be dealt
with and not overlooked, or the unethical behavior will
become business as usual.I you are a member o an organization that adopts
a code o ethics, read the printed words and ollow the
examples o the leadership. Pay attention to the eelings
in your stomach. They may not tell you exactly what to
do, but it may serve as a red ag. Remember, justiying
questionable behavior is nothing more than being
dishonest with yoursel.
Here are my theories:
Leadyourethicsmodelbyexample. Followyourethicsmodelwithhonesty.
Followyourinstinct-itrarelytellsyoutodothe
wrong thing, frst.
Take this convicted elons experiences and words or
what theyre worth.. Strive to be honest, diligent, and
consistent. Society, your company, your amily, and your
children need you to stay out o prison.
Jerome Mayne is a keynote speaker and author. He has
worked with dozens o companies and associations around the
country helping their people make the right decisions, when
the right decisions arent easy. He is a member o the National
Speakers Association as well as the Real Estate Educators
Association. Hes the author o the book, Lie Saving Lessons
The Diary o a White Collar Criminal and co-author o
Mortgage Fraud and Predatory Lending what every agent
should know (Kaplan Publishing). Jerome can be reached at
[email protected]. www.raudcon.com
His books can be purchased online at
www.mayneelon.com/products.html 2007, Jerome Mayne
Had Mne Lansfm $100,000 t
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Financing is for business or investment purposes only, secured by real property.
Well help you put the pieces together.
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FHASecure
BY LESLIE PETERSENWhat you need to know
My original assignment was to write abouthow mortgage brokers can take advantage o FHAs newHope or Homeowners (ondly nicknamed H4H by HUD) to help their clients who
are delinquent, underwater, or simply over their heads in mortgage debt. My assessment so ar is
that H4H isnt worth the paper its written on.The better FHA option is FHASecure, an alternative program that works amazingly well
FHA approved brokers and their homeowner clients who are currently in trouble. A huge glitc
that the entire FHASecure program is currently scheduled to expire 12-31-08; whereas H4
ongoing until 9-30-11.
I strongly believe that FHASecure will be extended, mostly, because it looks so g
politically not to mention that its actually working. However, I sure cant guara
it.
BRIEF OVERVIEw, HOPE FOR HOMEOwNERS (H4H)Beore I entirely dismiss it, its only air or me to tell you a l
about Hope or Homeowners. H4H was legislated by the HEconomic & Recovery Act, and is being highly publicized
Washington as the program that will save the economy
oreclosures. I beg to dier.
H4H became eective with HUDs thirteen p
Mortgagee Letter 2008-29, October 1, 2008.
parameters are quite complex and qualiyin
difcult. It may take some time or pri
to settle down, but interest rates will li
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be the same or higher than those o delinquent FHASecure
loans. The Upront MIP (UFMIP) is three percent and the
annual premium is a hety one and a hal percent.
The nationwide loan limit is generous at $550,440;
however, the maximum LTV including all payos, the
three percent UFMIP, and all costs o the loan is only 90percent. Lenders are expected to waive their ees and cut
their payos to make it work. There can be no secondary
fnancing remaining.
H4H borrowers must sign two additional promissory
notes and mortgages with HUD, both recorded, which
share (a) the current ten percent equity in the home
(remember, its 90 percent LTV), and (b) any potential
uture appreciation. HUD will sometimes split some
o their portion o the uture appreciation with 2nd
mortgage lenders, yet never with the 1st mortgage holders.
Needless to say, this doesnt sit well with frst mortgage
lenders.
I cant ail to mention that per legislative mandate,
HUD wont insure the new H4H loan i the borrower ails
to make the frst mortgage payment; another ouch or the
lenders.
Personally, I dont think H4H is all that great a deal
or homeowners or lenders, in trouble or not. My guess is
that some o the larger lenders will use the program, but
only as a last resort. Mortgage brokers most likely wont
get involved in H4H loans at all, which brings us back to
FHASecure.
THE FHASECURE PROGRAMFHASecure has been around since August 2007,
when it was established as a Presidential Initiative.
Originally, it only helped homeowners who were
delinquent as a direct result o a reset in their conventional
ARM loan. On July 14, 2008, FHASecure was expanded
to include all o the ollowing:
Eligibilityrateandtermrenancesofconventional
mortgages only
Loanamountsfrom97.15percentto98.75percent
o new value, up to the maximum allowable FHA loan
limits in the area
Fullborrowerqualifyingwitheligibilityleniencies
CLTVOptionsforInsufcientEquityunlimited
CLTV to accommodate work-outs with current
lenders
Non-delinquentFHASecurestandardFHArates
and MIP or borrowers who need to get out o a
conventional loan yet are not currently delinquent
DelinquentFHASecureborrowerswhoare
currently delinquent on a conventional ARM loan
with many leniencies or prior and current mortgage
delinquencies
The point is to assist homeowners out o any
conventional mortgage that they need, and into a nice,
sae, FHA loan.
FHASECURE - MAxIMUM LOAN AMOUNTSThe maximum LTVs range rom 97.15 percent
to 98.75 percent, exclusive o upront MIP, up to the
maximum allowable statutory loan limit or the area.
Eective January frst, 2009, the new maximum LTV is
expected to be 100 percent, inclusive o upront MIP.(Final calculations are still being hammered out by HUD
as o this writing.)
FHASECURE - QUALIFYINGWith the exception o credit eligibility leniencies
as allowed by the program, all FHASecure borrowers
must ully qualiy or the new loan using FHAs standard
underwriting guidelines. FHA only wants borrowers
who are truly able and willing to make their uture house
payments; a homebuyer jumping rom one bad situation
into another helps nobody.
FHASECURE - INSUFFICIENT EQUITY - DELINQUENT ORNON-DELINQUENT
For homeowners who owe more than 100 percent o
the current value o their home, FHASecure encourages
work-outs with the current lender(s) by allowing
unlimited CLTVs or existing and or newly created
subordinate fnancing. Examples o work-outs include:
1. Existing secondary fnancing can be re-subordinated
or modifed to add outstanding charges or tootherwise accommodate the transaction.
2. A new second mortgage can be created by the
current lender (or other source) to
coverpayoffshortagesandpastduefeesand
charges, sometimes including PITI arrearages; or
coverallamountsthatexceedFHAscurrent
maximum loan limit or the area.
3. Funds or new fnancing can come rom any
TheNicheReport.com
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source, such as rescue unds which are becoming
increasingly available through non-profts, states, and
other government agencies.
There are restrictions on the terms o the secondary
fnancing that I havent covered (see ML 2008-13); even so,lenders are becoming more and more willing to negotiate
as opposed to paying the costs o oreclosure. Although
clients must always negotiate directly with the lender, the
new FHASecure loan wont come together without the
oversight and assistance o an educated and resourceul loan
originator.
Note: I the subordinate fnancing is a new loan as
opposed to re-subordination or modifcation o an existing
loan the lender will price the new FHASecure mortgage
using delinquent pricing, regardless o whether or not the
loan is delinquent.
FHASECURE NON-DELINQUENTNon-delinquent FHASecure includes all conventional-
to-FHA rate and term refnances that are not currently
delinquent. Whats great is that interest rates along with
FHAs upront and annual mortgage insurances are the
same as regular 203(b) mortgages, with the exception in
rates noted above.
In addition to all o the CLTV options above, the
FHASecure non-delinquent has some credit underwriting
leniencies. For instance, ML 2008-13, page 7, suggeststhat clients who kept their mortgage current yet let other
loans slide should be given avorable considerations.
Also, DE underwriters are encouraged to allow prior
mortgage delinquencies that were clearly caused by a reset.
No matter, the ultimate decision is still up to the DE
Underwriter and/or lender who oten impose their own
credit standards or minimum credit scores.
FHASECURE DELINQUENTFHASecure delinquent is or refnancing
conventional ARM loans only, and only i they are currentlydelinquent. (Prior delinquencies all under non-delinquent
FHASecure.) The delinquency must either be (a) caused
by a reset, or (b) the result o extenuating circumstances.
Option (b) is not available or those refnancing rom interest
only (IO) or rom Option ARM loans.
FHA has very specifc limitations on the amount o
times that the current loan can be delinquent, and or some
reason, they are much more tolerant when the loan is not
an IO or Option ARM. (Dont ask me?) Originators and
brokers must examine the homeowners prior mortgage
credit history at the very frst o the process to make sure
they qualiy.
FHASecure delinquents have much higher pricing
than regular 203(b) mortgages. The Upront MIP is thrpercent, though the annual is only 0.55 percent.
Any uture refnance o a delinquent FHASecure
must be ull-qualiying, as they are not eligible or
streamlined refnances. However, you can always look to
these borrowers or uture refnances at lower rates once
their credit history improves.
BOTTOM LINEWhenever Im speaking to an industry group about
FHA mortgages, I always review FHASecure as one o th
many viable niche products available. Its not unusual tohave one or two originators say that they are never able
to get FHASecure loan fles through underwriting; while
others in the same room have successully originated
FHASecure mortgages time and again. Im pretty sure
that the frst category lacks the education and/or patienc
necessary to make this loan workable.
For a copy o HUDs ML 2008-13, go to www.
hudclips.gov. Additional inormation and reerence chart
are also available through my website.
In the end, FHASecure is not a save-all. It wont hel
all o your clients who are experiencing difculties makintheir payments, but still, HUD reports a total o 325,000
FHASecure mortgages made as o August 2008, only one
year since inception o the program. H4H does not com
close to replacing FHASecure. Im not the only one who
will be highly disappointed and shocked i the program
isnt extended.
Leslie Petersen with over 30 years
experience in mortgage lending, writes
www.MortgageCurrentcy.com, an
online newsletter on the changes in
Fannie/Freddie, FHA, VA and other
regulatory agencies--but with a twist.
For Originators, Underwriters and
Managers, she also interprets them in
plain English and shows them how to make the rules and
changes work or them--and get more o their loans approve
Find her at [email protected].
TheNicheReport.com
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Every small business owner can attest to the impor-
tance o cash ow. The amount o time it takes ora dollar to pass through your business rom raw
material purchases to the sale o fnished goods to money
in the bank is a critical actor in determining success.
According to the latest edition o the PNC Economic
Outlook survey, business owners are more pessimistic
about their cash ow than they were six months ago:
Only 42 percent expect cash ow to increase over the next
six months, compared to 51 percent last all.
Regardless o your current cash ow situation, it
is a good idea to occasionally take stock o the cash
management tools at your disposal. Below are tips to helpyou and your commercial clients maximize cash ow and
make the most o your money:
Develop a Liquidity Plan: Does liquidity just
happen or do you have a plan in place to manage your
cash on hand? By creating a simple cash orecast to predict
when payments will come in and go out, you can anticipate
disruptions to your cash ow. Consider maintaining a line
o credit to avoid uctuations. And i you have signifcant,
predictable payments that occur inrequently such as tax or
insurance payments, consider a reserve und that you grow
on a consistent basis to neutralize the disruptions that thesedisbursements may cause.
Take advantage o technologies: The innovative
banks oer a variety o technologies that can help
manage your cash ow. Traditional services like credit
card processing speed up your collections. Corporate
cards help to consolidate and track spending as well as
make ewer, better timed disbursements. Remote deposit
enables you to deposit checks rom the convenience o
your ofce. Online payroll enables you to do your payroll
online anywhere that Internet access is available. Andautomated (online) access to investment balances and lines
o credit help keep your cash balance within a target range
Revisit your receivables strategy: Oering credit
discounts to your customers may be a competitive
requirement in your industry, but be sure to examine these
practices closely. How much fnancing are you providing
to your customers? Is every customer treated exactly the
same? Are slow payers getting a ree ride while you are
searching or some liquidity relie o your own? When you
look closely at this element o your business model, you can
usually identiy some opportunity to improve cash ow.Seek out inventory opportunities: According to the
PNC survey, 61 percent o business owners expect the
prices they pay their suppliers to increase. Assess your
inventory needs careully, evaluate your mix o suppliers
and possibly renegotiate trade terms. Inventory always
creates pressure on cash ow and now may be the time to
reevaluate your practices.
Managing cash ow is one the most important
things small business owners can do. Poor cash ow is a
leading cause o small business ailure. By revisiting your
contingency plans, leveraging technologies and managingthe actors that create cash ow pressure, you are better able
to protect your business through the good times and bad.
Gretchen Underwood is Assistant Vice President o the
Commercial Banking Group at PNC Bank in Manassas,
Virginia. To fnd out i you have the best solutions or the
changing needs o your business, contact Gretchen Underwood
703-472-8670, or email her at [email protected]
MANAGING PEAKS AND VALLEYS
BY GRETCHEN UNDERwOOD
Tips to help you manage cash ow
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Lets face it; things arent looking so good right now.
In uncertain times like these, your clients need guidance, expertise and
experience more than ever.A hard money commercial loan may be the ideal way for your clients to seize anopportunity or solve a problem. Despite these difcult market conditions, Avataris nancially stable and has plenty of capacity to fund commercial loans from$1,000,000 to $20,000,000+.
So if youre ready to deal, were ready to listen.
Call us today at 888.896.0083 to discuss your loan orvisit www.avatarnancial.com for more information.
Hard moneyfor hard times.
A different kind of loan. A different kind of lender.
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T
his is no secret, times are
tough or many in our chang-
ing industry. How do we all
keep up? I recently wrote an article onthe ew orms o marketing still work-
ing. What happens when you exhaust
all those eorts and have truly tapped
into every outlet you have? Where do
you go rom there? I have the answer or you, diversif-
cation. I talk to a lot o olks that are currently suc-
cessul in this market. Many o them have some variable
o this same concept diversifcation - in their business
model, and thereore, able to oer many services to each
and every potential client they run into.
In order to provide quality fnancial services withphenomenal customer service you must have a wide array
o options, in act, the more options you have the bet-
ter. In todays market with current lending conditions,
limited lenders, plummeting values, credit issues, ailing
banks etc it is much harder to convert those 2 - 5 deals
per month needed to maintain the same type o income
generated in past years. What do you do with the olks
you cant ref? Some LOs are now doing loan modifcation
reerrals, some are also doing credit repair or their clients.
My advice would be to network yoursel with as many di-
erent people, rom as many dierent areas o the fnancialservices industry.
Credit repair as mentioned above, may be o-
ered to clients by reerring out to an agency. I you are
not helping your clients fnd this option you are loosing
money every day. Not only do most credit repair agencies
pay reerral ees but they also reer back to you the client
once credit is restored enough to get the loan completed.
Find at least one company (preerably two or three) you
can work with on this level.
Loan modifcation again, this one is mentioned
above. Help your turndown clients who need it themost beore they loose their home completely. Reer
them to a loan modifcation company that will negotiate
new terms on their current loan with their current lender.
Most o these companies will pay you handsomely or
these reerrals, which is income on potential clients you
normally would not be able to help.
Short Sales With values in the toilet nationwide
there have never been a higher number o Short Sales.
I you do loans in any o the value stricken areas o the
country or i you work any ARM databases you will
certainly run into olks that are upside down in theirhome, to the extent that a Short Sale may be their only
option. Go and fnd an aggressive, reputable Realtor
ocusing only on Short Sales. Help your client get out o
their mess and build yoursel a solid relationship with a
Realtor at the same time.
Debt Settlement Some home owners are having
the most issues with their revolving debt. In years past,
we would roll it into the new mortgage during a ref
and move on, but in todays market, its near impossible
to fnd borrowers with enough equity to do so. I
Refnancing is not an option, try and settle the debt orpennies on the dollar or your client. Reer them to a
legitimate debt settlement company; take your reerral
ee i one exists, and move on to helping your next
client. Ater their debt has been settled, you will most
likely have a happy client that may use you in the uture
or even reer you business.
Bankruptcy Lawyer Unortunately, some people
DIVERSIFICATION
BY RAYMOND BARTREAU
When opportunities present themselves
TheNicheReport.com
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are to the point where they only have one option - and
that is bankruptcy. Build relationships with lawyers that
perorm these Bankruptcies, they are an excellent source
o income. They love reerrals and dont mind reerring
people back to you that may need your service. Its always
good to have a reerral source to add to your menu.In my experience, through dealing with over 1200+
Loan ofcers every month, is that the successul ones
have this network already built and is fne tuning this
network day in and day out. While you are working your
day to day marketing or advertising options, take your
response and put them in the right hands or whatever
service they may need. I you cant help them refnance or
meet their loan origination needs, help them and get paid
in another way. Most loan ofcers strive to make 10k+
plus per month, this is still possible, even in this market,
IF you diversiy yoursel and oer more to help yourclients.
From a consumers perspective, i you have all the
answers or me, I will remember you over the next guy -
you can bank on that. People want ull service, whether it
is rom the car wash or helping them obtain a mortgage,
AcuPen Financial is
a Specialized Commercial
Lender
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With over 20 years of experience within AcuPen
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thank you for visiting us here at AcuPen
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While prime is on the rise,AcuPen nancial oers Tier 1 &2 property nancing below 8%
With new exible underwritingcriteria, qualifying for 90% LTV
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Phone: 305-666-1879FAX: 305-704-8348
and the more you can oer a client the more money youll
make.
Raymond Bartreau is the President o Best Rate Reerrals
and a nationally recognized marketing consultant. For more
marketing tips and techniques please visit Bartreaus blog atwww.loanofcerconsultant.com. You can also visit Bartreaus
homepage at www.bestratereerrals.com.
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CHANGING THE INDUSTRY
ONE BORROWER AT A TIME
Metro Funding CorporationOne Kalisa Way, Suite 310
Paramus, NJ 07652
For more information,
call toll free (866) 302-6360or visit our website:
www.metrofundingcorp.com
Recent Closings:Condo ConversionRenance
$2.77 Million
Kissimmee, FloridaBroker Commission:$55,240
Mixed-Use Complex &Restaurant
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Becker, MinnesotaBroker Commission:$79,500
Bed and Breakfast
$2.6 Million
Lenox Village, MABroker Commission:$52,000
Apartment Complex
$1.6 Million
Memphis, TennesseeBroker Commission:$24,000
Convenience Store and
Gas Station$4.1 Million
Gilman, IllinoisBroker Commission: $51,250
Golf Course Development
$3.4 Million
Tampa, FloridaBroker Commission:$68,000
DOING THE
IMPOSSIBLE
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Direct Private Lender
www.MEANDASSOCIATES.COM770-840-0112 or 770-840-0113
Fax: 678-302-6444
Your source for commercialreal estate financing.
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Had Mne Lansfm $100,000 t $1,500,000
Minimum Credit 400 No seasoning No up front fees 48 hour closing
Lendng Tet ncldes DE, MD, DC, VA, NC, SC, GA and FL.
ALL LoANS For buSiNESS or iNVESTMENT purpoSES oNLy
For an immediate online approval and commitment letter,go to WWW.FMV1.COM and fill out our loan qualifier.
First Mount Vernon is a privately-owned, equity-based lender which specializes in lending to borrowerswho cant secure funding from traditional financing sources. Loans typically funded within two business
days upon receipt of completed package. First Mount Vernon does not make consumer loans.Financing is for business or investment purposes only, secured by real p roperty.
6019 Tower Court, Alexandria, VA 22304Phone: 703-823-6800or 866-902-FMV1 (3681)Fax: 703-997-2499Paul Fogle or Art Bennett
Well help you put the pieces together.
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Chris FuellingBusiness Development
Manager
[email protected] Free 877-812-4327
Direct 786-735-1188
PLEASE CONTACT TYSON HEMPEL
619-987-1083 [email protected]
RESIDENTIAL:
Firsts up to 800K--60% LTV or less
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To expidite the underwritingprocess please include 1003,credit report, explaination ofloan, pictures or an appraisal,and a completed submissionform with your submission!!
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The traditional loan ofcer has aced many
obstacles and has been orced to utilize every
tool available to reach the masses. Instead o
relying on the basic ace-to-ace relationship with real-
tors, builders and past clients, new levels o innovationhas elevated the loan ofcer to becoming a Mortgage
Market Strategist. It means thinking outside the box
to gain clients.
Call capture is a unique tool. For mortgage
originators, the process records and tracks phone calls
24 hours a day rom prospects. Call capture utilizes
technology that allows more contacts with less eort.
As a means o building relationships, call capture
provides an opportunity to pass qualifed leads to your
best reerral sources. Providing solid leads to those
proessionals with whom you align yoursel will helpbuild your sphere o inuence. It creates a tool to oer
your realtors, builders and or sale by owners (FSBO)
prospects extended opportunities to touch your best
clients.
How Does it Work or Realtors?Agents will have
the access to your call capture phone number that they
may use on their marketing literature and are given
specifc extensions or each o their listed properties.
These extensions are available or all o their marketing
material, such as reports, consumer tips, and inormation
on the property. Using the 1-800 technology has thecapabilities o increasing the agents calls received by 400
percent and can save up to 50 percent in their marketing
costs. The realtor has the responsibility o contacting
the prospects, providing inormation, answering their
questions and thanking them or their inquiry.
Agents may use these extensions or all o their
marketing material.
As eective as this tool is, making it available to
everyone is not practical. As part o your business
planning, clients should be broken into three categories.
A, B and C will be used to delineate clients and the
probability o purchasing a home. Cs may be ready
or purchase anywhere rom 4 to 12 months in theuture. They may be lookie-lous or serious buyers who
just arent ready at this moment in time. Periodic email
updates, with their permission, keeps your name in the
oreront o their mind. Be available to answer questions,
but dont spend a lot o time pursuing their business.
Bs are more likely targets. There has been more
consideration on the home buying ront and they are
serious contenders. Some additional attention should be
oered to them, through email, mailings and personal
phone calls. Their time rame is more likely 2 to 4 months
away and educating them in pre-qualifcation and pre-approval is appropriate.
As are the number one candidates. They are ready
to buy today. Full attention should be given to their
concerns. Frequent contact to these ready-to-buy clients
keeps you in the picture, and confrms your dedication to
customer service.
This process o contact delineation is also appropriate
or your proessional reerral sources. Every category o
work relationships can be catagorized into A, B or C type
prospects and will save you time and eort. It will also
help in identiying who will be the best candidate or the1-800 Call Capture marketing.
B and C leads will make up 90 percent o your
potential market. 75 percent o B & Cs will stay with
the frst contact that makes the time to educate them. 50
percent will buy rom someone in the next 3 to 9 months.
Call capture helps drive those potential clients to you.
Those Bs and Cs are looking or product inormation,
current rates, help with pre-qualifcation and pre-approval
CREATING A 1800#CALL CAPTURE LEAD MACHINE
BY TOM NINNESS
More contacts with less eort.
TheNicheReport.com
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and ways to improve their credit.
Call Capture and the Prospect. Call capture listings
pique the prospects interest; they see that the inormation
is available 24 hours a day and they can listen to the
inormation at their leisure. I they choose, the prospect
can have the inormation axed to them or they canbe directed to the agent. The agent is notifed directly
about the interested property and the prospects contact
inormation is emailed or text messaged to the agent, even
i the phone number is unlisted.
Working with Builders. 1-800 Call Captures allows
sales coverage or a builder 24 hours a day, giving specifc
extensions on dierent models. It provides inormation,
even beore the sales trailer is up and running.
Working with FSBOS.Oering the FSBO the
technology or prospects to learn about the home or sale
also opens the possibility or assisting the home seller inhis or her next purchase. All inquiries will be directed to
you and allows you the chance to speak with the prospects,
encourage pre-qualiying and make that important
connection, even i the prospect doesnt buy rom the
FSBO.
Although Call Capture costs a small amount per
month, the marketing value and benefts or the loan
ofcer is huge. Oering this service to realtors, builders
and FSBOs immediately creates a practical customer
service oriented relationship at a minimal cost. As your
clients learn to utilize the Call Capture eatures, it willelevate you and promote you as their lead loan originator.
The ollowing is a list o reports that the loan ofcer
may use as a value-added eature or customer support:
Forexpiredlistings-How to Guarantee youll get your
Home Sold this Time! ForFirstTimeBuyers-Special Report-How to Buy Your
First Home the Easy Way!or Free Report-How to Stop
Paying Rent Foreverand Own a Home o Your Own!
ForInvestors-Avoid 12 Common Mistakes Made by
Novice Investors and Guaranteed High Rates o Return! Forthoselookingforamortgageinthefuture-Secrets
Lenders Dont Want You to Know! Read this 11-Point
Report Beore You sign Anything!
Readytolist-Ready to List with a Real Estate Agent?
13Things Your Agent Must Do To Maximize Your
Profts!
The ollowing is a list o 1-800 Call Capture
companies. Take time today to research how Call Capture
may improve your business.
Call Capture Providerswww.Realestategrowth.com - Known in the industry
as Proquest Technology. Great marketing ideas, reports and
ideas to increase your business.
www.Realmarcom.com - Excellent reports and articles
specifc to the mortgage industry
www.archtelecom.com - Industry Specifc and well
known in the mortgage industry
www.247callcapture.com - Marketing ideas specifc
to the mortgage industry
Tom Ninness is Vice President/Regional ProductionManager or Cherry Creek Mortgage in Denver, CO. Ninness
is also the President o Summit Champions, Inc. and creator o
the The 90 Day Journey to Your Sales Success, a powerul 90
day action plan or the sales proessional. To learn more about
The Journey and all what Summit Champions has to oer, go
to www.90dayjourney.com, www.summitchampions.com or
contact Tom at [email protected]
Ofce: 720-221-4396.2008 Gregory Funding LLC, an Aspen Capital aliated company. This is not a commitment to lend. Restrictions may apply. ForWholesale only. Not for distribution to the general public. LTV based on current valuation by Gregory Funding. Gregory Fundingreserves the right to amend rates and guidelines. All loans are made in compliance with federal, state and local laws. High-CostLoans prohibited. Gregory Funding LLC is an Oregon LLC, Oregon Division of Finance & Corporate Securities Lic#ML3575. GregoryFunding LLC, 425 NW 10th Ave Suite 307 Portland, OR 97209. Toll free: 888-324-3578.
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CENTER STAGE
The Niche Report would like to
introduce you to a new mort-
gage wholesale lender Net-
More America who is building a next
generation mortgage banker throughthe power o the right relationships.
Mark Freedle, the CEO with the vi-
sion to start a mortgage business in
a very difcult environment, gave
us the opportunity to fnd out more
about this ast growing Walla Walla, WA based mort-
gage lender with plans on expanding their ootprint
throughout the United States.
Mark, what drove you to launch a mortgage company
in such a difcult lending environment?Mark: Back in 2005 when the mortgage business
was setting production records we saw the potential or
a correction in residential lending as lenders stretched
underwriting standards and non-prime ARM originations
increased dramatically. In February o 2006, I began
putting together a group o very senior mortgage
proessionals with strong underwriting and secondary
marketing experience to start building out our platorm
to be ready or the opportunity. We ofcially launched
NetMore in the third quarter o 2007 and unded our
frst loan at the end o October 2007. Today, we are theastest growing mortgage company in the Northwest, with
specifc plans on expanding our ootprint throughout the
United States over the next two years.
How big is NetMore today and where are you going in
the future?
Mark: Today, NetMore is ocused on two lines
o business; our wholesale lending channel and our
proessional branch system. We have approximately 150
employees and are licensed in 18 states. Our goal is to
move east strategically and be a nationwide mortgage
banker over the next two years. To help us mange our
growth, we are continuing to hire and we project thatduring the next 12 months we will hire well over 100
new employees. We just made some key senior hires,
such as Lisa Schreiber as our Chie Strategy Ofcer and
Scott Holtz as our new Regional Vice President, Eastern
Region. From a production perspective, we are projecting
ull year 2008 mortgage production to be well in excess o
$500 million, compared to just $14 million in 2007. By
early spring 2009 we are projecting approximately $250-
$300 million a month run rate. Our goal is to be a top 25
national lender in the next 24 to 36 months.
Tell us a little about your senior management team?
Mark: We have put together a very experienced
group o mortgage proessionals. Lisa Schreiber, our new
Chie Strategy Ofcer, her background is in building a
quality national lending platorm that is both scalable and
proftable. Julie Krause, NetMores Chie Operations
Ofcer, has more than thirty years o experience in the
mortgage industry and was one o the frst individuals to
get her Computerized Home Underwriting Management
System (CHUMS) number in the Northwest. Dan Ferris
our SVP o Secondary Marketing, also has more thanthirty years experience that includes a Master Certifed
Mortgage Banker (CMB) designation. This team with the
ull support o all o our employees has one goal; to build
a sustainable company together.
What do mean by a sustainable future begins with
the right relationships?
Mark: NetMore wants to work with proessionals
CENTER STAGE wITH NETMORE AMERICAA sustainable uture begins with the right relationsips
BY THE NICHE REPORT
MARK FREEDLECEO
TheNicheReport.com
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CENTER STA
that clearly understand what it means to do the right
thing or their clients or partners day in and day out.
We believe there is tangible value in character and it is
the oundation o building a sustainable business. We
want to make sure we are always working or partnering
with the right people or organization that share our
core values o integrity, respect, accountability, orward
thinking and commitment to creating value. Through
the power o the right relationships, we believe NetMore
will become a leading next generation mortgage banker
and build a sustainable national platorm through
responsible lending.
Where are you seeing the opportunities in todays
mortgage market?
Mark: There are many opportunities that we seein todays market. First and oremost we see many
talented proessionals looking or work. This allows
us to employ the best o the best in our Leadership,
Account Executives and Operations sta. We have
already seen the value o a great team and the service levels
they can provide. Great employees in conjunction with
great technology solutions create customer satisaction
and loyalty that we can build on. We also see a real
void or the mortgage broker. Finding knowledgeable
wholesale lenders that are ocused on building theirwholesale presence in a sustainable manner is key to
their success. Our FHA expertise gives us a signifcant
opportunity as many competitors are still struggling to
gain FHA knowledge or hire DE underwriters. All o
our underwriters have their DE and we eel this gives us a
signifcant advantage in the marketplace.
How is your sales team navigating the current market
challenges?
Mark: For one, our industry is under siege. When
that happens, many people exit and even those thatare still employed are reluctant to go out on the street
and ask or new business. Surprisingly, we have hired
new and very seasoned Account Executives that are
telling us just that! By putting our program out there
with knowledgeable Account Executives backed up by
experienced and customer ocused operations, we see a
terrifc opportunity to grow our market share.
What makes NetMore different from other mortgage
lenders in todays market?
Mark: Our objective is to enable our lending partners
mortgage brokers and our proessional branch system, to
operate efciently and riction ree a model based on
service, speed and sustainability. We believe we have abetter understanding o the mortgage business and how
to execute with a signifcant strength and expertise in
secondary marketing, risk management, communication
and a commitment to being a true partner.
Explain to our readers what you mean by a friction
free process?
Mark: Friction Free means a lending platorm that
incorporates easy to access web-based portal, intuitive
processes where workows can be easily understood
and delivered, and risk mitigation applications that are
applied while still allowing the user to move orward
in the process with our end product being a complete
quality package or investor delivery. Through the use o
current web-based technologies and education, we will
ocus on our adoption rates to provide the biggest lit to
our organization.
What advice would you give mortgage brokers trying to
understand the FHA product segment?
Mark: FHA loans are more important than ever
and there are ew mortgage banking operations that have
NetMores experience in the FHA product platorm. For
many brokers, FHA was not a product that was in ocus
until ALT A went away last year. Many lenders and
brokers alike are still scrambling to get FHA approval
and even once approved, there is a learning curve that
has to be addressed. Experienced FHA lenders, such as
NetMore, are ew and ar between. It makes it essential
or brokers to partner with a lender that understands the
FHA origination process, has the right relationships, and
is committed to providing best in class service.
There have been some talk among brokers about how
difcult FHA is to work with and that FHA loans take
an extremely long time to process. Is this true?
Mark: This simply is not the case. FHA has made
signifcant changes to appraisal requirements and the work
items that were typical in the past have all but gone away.
Processing an FHA loan is no more time consuming
30 November2008
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than typical fnancing. You just need to have the proper
upront disclosures and order your FHA appraisal through
the FHA Connection website. Here is where a brokers
partnership with the right lender, such as NetMore starts
to become extremely helpul. As you learn some o the
FHA nuances, the knowledge o your lender can help younavigate and make this process riction ree or both the
broker and their client.
What is some advice you can offer mortgage brokers to
be successful in todays environment?
The best advice anyone can give today is to evaluate
your business model by asking some key questions; What
is your origination strategy? Who are you partnering with
to help you weather the storm? Is your business model
ocused on you or are you relying on a lender that might
decide they dont want to play anymore? Who can oer
you both the education and deliver the service you need
to keep your business on track? Its all about relationships
these days and the right ones will make or break your
uture!
CENTER STAGE
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B
eneft to you? Or beneft to the
customer? I you beneft, then
you are paid well on a closing.I the customer benefts, you do not
get paid so well. I you beneft, you
need to close less loans in the month.
I the customer benefts, you have to
work harder and close more. I you
beneft, your investors will like doing business with you
and you can typically receive better yield spread or rates.
I the customer benefts, you have to impress the investor
with volume to hedge the less avorable yield spread.
As you can tell, the tug-o-war o beneft is an
ongoing issue. Many brokers and originators have adifcult time with the ethical issues o drawing the line
o beneft to avor both themselves and the customers.
The happy compromise is typically a very thin line that
requires balance o a Cirque Du Soleil perormer to walk
it.
Bottom line, the beneft should go to the customer.
I you are in this business or the long haul, build a
reputation now as the mortgage banker who gives good
deals. Be the one who clients will reer. Build a lasting
relationship based on ethical standards and quality
customer service.I have written many articles on tips to provide the
customer with a pleasant experience mostly based on
personal interaction and amiable service. I have never
talked about the monetary aspect o the business. I do
not preach how to make a proft or which lender oers
the best yield spread, quickest underwrite time, or lowest
interest rate. Those are aspects o the industry that
you can ascertain as part o your OJT and through
the rigor o diligent lender-shopping. These are easily
learned and easily executed procedures. However, good
loans are ewer and ewer and making a healthy living ona third or a quarter o the typical business o three years
ago is now the reality. One must maximize each deal jus
to pay the bills!
Beneft, as I have written about in an article entitled
The Formula, (May 2008 Tip o the Month) I defne
as anything the customer receives in an exchange as a
result o the cost o doing business. The customers
perceived beneft in the transaction is value. I there is
no beneft, there is no value. Perhaps, the customers
greatest perceived value is the beneft you oer o the
lowest interest rates and the lowest closing costs. It mayalso be the riendliest service, requent contact, or the
act you remembered the amily pets name. I would
be presumptuous to say that money is not the most
important aspect o most mortgage transactions today.
Everyone who wants a mortgage wants a good deal.
The conundrum becomes the level o beneft that you
oer and the level o value the customer perceives and is
the two balanced to the satisaction o yoursel and the
client?
There is no perect science to this dilemma. In
act, you may make some poor decisions and lose somedeals as a result o the lack o beneft oered or executed.
The interest rate may be too high, the closing costs are
exorbitant, or you may not have called the customer
requently enough.
So here is my tip to hedge uture situations: Talk with
authenticity about the expectations o the loan process, the
ees and the interest rate, to your prospects during the initia
conversation. Set the standard rom the beginning. Cover
TIP OF THE MONTH
BY STEwART MEDNICK
Walking the thin line o Beneft
TIP OF THE MONTH
TheNicheReport.com
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TIP OF THE MON
the two major aspects o beneft: cost o doing business, and
the business o doing service. The customer will not only
respect you or your candor, but will be relieved and eel
secure that you are providing quality service during a time
when the mortgage industry is highly scrutinized.
Everyone is eeling a fnancial squeeze regardless othe proession they pursue. Unemployment, gas prices,
ood cost and heat or the house are all some o the issues
weighing down on every home owner or potential home
owner. How rereshing would it be to have the mortgage
guy (gal) be the straight talker when we are bombarded
with political smear ads, campaign propaganda and news
about Wall Street executives golden parachutes and their
collapsed businesses?
Be the shining beacon o ethical business practices,
authentic customer service, and quality value-added
propositions in a current realm o uncertainty, ear, andfnancial collapse. Yes, you may not make as much as
you had hoped on the recent closing, but the client was
happy and that was the compromise necessary to get to the
closing table. We all have elt the pinch and had to check
or coins in the soa cushions just to eat lunch. But provid
beneft to each customer and as the business becomes
plentiul, you should be busy with repeat customers and
reerrals.
Sometimes we take a cut in commission. I suggest
not to cut beneft to the customer. Remember, this is a
marathon, not a sprint.
Stewart Mednick is a seasoned mortgage banker and
published author. His writing ocuses on relationship
development, personal empowerment, customer satisaction,
marketing and sales techniques. Stewart is available or
marketing consulting, personal coaching and training sessions.
I you have a comment or a question or Stewart, contact him
at 651-895-5122 or [email protected]
CAN YOU
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www.americaonefinance.net
You can with us
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NICHE REPORTS
TheNicheReport.com
PRIME & FHA
Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consum-ers, as dened by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to eachlenders information on products, program, procedures, representations, and warranties for details.
Premium Listings
AHEDIRECT.COM/Freddie:TheRainMaker949-861-0911
AlternativeMortgageExpress801-671-2397
GreystoneFinancialGroup954-557-2457
HCIMortgage877-724-1720
JMACLendingInc877-841-0776
MidIslandMortgageCorp703.754.9643 - t d
TitanWholesale
877-90-t x. 225
UnitedWholesaleMortgage800-981-8898 x5638
WallStreetWholesale248-361-1908
f, f, fha, 24-48 h t ts
c ss fha, c, J, J fha/c, s.
conforming, fha Va, uSda, SiSa, combo loanS, lp leVelS 1,2 & 3
hci m szs fha 203k 25+ ss.ps 203, 203 s 203 j s
S 24 , 1
l/n S fha s. t fha s ok. n . SJ s. c ss / s.
w es (775) 303-3838 ; 866-922-6943 x, s@-s.
fha 24-48 hs av e ls. 24 hs cs. 24hs p cs ds. cs y l 5-6 bsss ds.cs v p. 95% cs m hs.free du ws.
cv/a J, fha/fha J, 203, m uw, 48 uw. 5 ps c is t!
AlternativeMortgageExpress 800-552-5263 www.amxloans.com
AMEFinancialCorp 770-406-2138 www.american-mortgage.info
AmeribankMortgage(FHAonly) 516-833-8834 www.ameribanksolutions.com
AmericanBancShares 305-817-2165 www.americanbancshares.com
AmericanFinancialResources(FHAonly) 973-588-8530 www.afrwholesale.com
AmericanHomeEquity 714-661-5836 www.ahedirect.com
AmericanPar tnersBank 954-465-8595 www.apbwholesa le.com
AmericanSterlingBank 801-208-5454 http://asbloan.com
AmtrustBank(Fannie/Freddieonly) 888-321-6446 www.amtrustgemstone.com
AssurityFinancial(FHAonly) 866-841-7863 www.assuritywholesale.com
BACFloridaBank(Fannie/Freddieonly) 305-789-8064 www.bacorida.com/ratesheet
BancoPopular 303-725-2169 www.bpnawholesale.com
BankofAnnArbor(Fannie/Freddieonly) 800-807-6337 www.boaawholesale.com
BankUnited 772-240-2550 www.bankunitedwholesale.com
CenturyLending(Fannie/Freddieonly) 407-252-7979 www.centurylending.net
ChaseHomeFinance 800-338-0487 www.chaseb2b.com
ChaseRuralHousing 954-422-1232 www.chaseb2b.com
ChevyChaseBank(Fannie/Freddieonly) 866-591-4355 www.chevychasewholesale.com
CMGMortgage 714-357-3325 www.acceleratedcmg.com
CNBNational Lending, LLC 815-412-9305 www.cnbnational lending.com
PRIME Lender Listings Powered by TheLoanPost.com
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Colonial Nat ional Mortgage 800-825-131 1 www.cnmbrokers.com(Fannie/Freddieonly)
CommunityFirst BankLoan 412-292-8511 secure.pricemyloan.com/custom/cfb(Fannie/Freddieonly)
ContinentalHomeLoans631-393-3800x114
www.chlmortgagebankers.comCountrywide 904-245-8008 www.cwbc.com
DirectMortgageWholesale 801-924-1880 www.directmortgagewholesale.com
EasternSavingsBank 800-981-7114x6250 www.easternsavingsbank.com
EpixFunding(Fannie/Freddieonly) 813-654-7515x223 epixfunding.com/
Equirst(FHAonly) 856-979-9545 www.equirst.com
FederalTrustMortgage 407-323-1833x153 www.federaltrust.com/brokers
FifthThird 866-492-0072 www.53.com/wholesalemortgage
FirstBankMortgage 305-577-6000x116 www.rstbank.com
FirstCal 818-793-6650 www.rstcalwholesale.net
Fi rstFedera lBankofCA 310-630-7792 www.rstfedwholesale.com
FirstHorizonHomeLoans 702-822-4102 www.rsthorizonwho lesale.com
FirstMutualBank 971-645-9140 www.washingtonfederal.com/wholesale/
First NationalBankofNassau 678-942-2160 www.fnbwholesale.com/
FirstNorthernBank (Fannie/Freddieonly)707-423-9330 www.thatsmybank.com/FlagstarBank 800-897-7222 www.wholesale.agstar.com
FloridaCapitalBankMtg 866-295-0014 www.cb.com
FortKnoxLending 323-330-1362 www.FortKnoxLending.Com
FortesResidential 866-571-8201 www.forteswholesale.com/
FranklinAmerican 606-519-4165 www.franklinamerican.com
FranklinBank 936-681-8181 www.franklinbank.com/
FreedomMortgage 800-843-3753 www.freedomwholesale.com
GatewayFunding 800-355-5626 https://wholesale.gateway-funding.com/
Gateway Mor tgageGroup 817-799-0804 www.jerrylair.com
GBMortgage 602-791-8950 https://www.gbmortgagelending.com
GlobalLendingGroup 727-530-0110 www.glgiwholesale.net
GreystoneFinancial 602-574-0100 www.greystonenancialonline.com
GSFFunding 262-373-0790 https://www.gsfsales.com/
GuaranteedRate 866-755-0989 www.griwholesale.comHollanderFinancial 661-476-4668 www.hollandernancial.com
HomeSavingsofAmerica 972-235-7366 www.myhsoa.com
HSBC 877-433-4722 https://webloan.us.hsbc.com
ICONResidentia lCapita l 888-639-5641 www.i conwholesale.com
INGMortgage 877-464-0555 www.ingloans.com/wholesale/index.html
JMACLending 877-841-0776 www.jmaclending.com
JustMortgage,Inc. 714-860-8867 www.justmtg.com
LendersAdvantage 818-669-0974x0 www.lenderinc.com
LibertyLendingInc 800-808-5591 www.libertylendingwholesale.com
LibertyMortgage 800-986-2499 www.bbt.com/libertymortgage
LibertySavingsBank 941-735-7890 www.libertysavingsbank.com
LimeFinancial 407-923-3700 limenancial.com/index.shtml
M&TBankMortgage 804-380-7465 wholesalemortgage.mtb.com/
MangoBayMortgage 561-347-9811 www.mangobayinc.com
MegaCapitalFunding(Fannie/Freddieonly) 818-657-2600 www.megacapitalfunding.net
MeritMortgage 310-650-0773 http://meritwholesale.com/
MetLifeHomeLoans www.wholesale.metlifehomeloans.com
MortgageBankofCalifornia 714-423-3295
MortgageClose(Fannie/Freddieonly) 714-453-0220 https://b2b.mortgageclose.com
MortgageIT 503-716-1206 https://wld.mortgageit.com/Default.aspx
MountainWestFinancial 909-793-1500x255 www.mwnc.com
NationalDirectFunding(Fannie/Freddieonly)970-672-0805 www.ndfcorporation.com
NationalHomeLenders 888-344-0520x4 www.nationalhomelenders.com
NationsDi rectMor tgage 949-270-7974 www.brokerFHA.com
NetMoreAmerica 509-526-4007 www.netmoreamerica.com
NorthStarLending(Fannie/Freddieonly) 954-843-7018x7018 www.mynorthstarlending.com/
Ovation7 561-746-7858 www.ovation7.com/broker
PacicBancMortgage 571-340-5593 www.pacicbanc.com/
PacicNationalBank 305-539-7675 www.pnb.com
ParamountResidential(FHAonly) 866-966-8989x300 www.prmglending.net
PerfectFHA(FHAonly) 800-201-2317 www.perfectfha.com
PhoenixFunding 877-562-6414x230 www.phoenix-funding.com
PlazaHomeMortgage 949-910-1055x450 www.plazahomemortgage.com
PMCBancorp 626-964-4040x8199www.pmcmtg.com
PolarisFunding(FL,IN,MI, OH) 616-667-9000 www.polarishfc.com/
PopularDirect 800-692-3447x202 www.populardirect.com
PoulsenMortgage http://WeFundFHA.com
PreferredCapital(Fannie/Freddieonly) 727-418-4189 www.prefercapital.com
PremierMortgageCapital,Inc. 786-243-3101x2 www.premierwholesale.com
PresidentsFirst 877-773-7178 www.presidentsrst.com/
PrimaryCapital 678-308-0257 www.primarycapital.com
ProtoFund 813-436-6803 www.protofund.com
ProvidentFunding 800-733-3657x1712 https://poans.provident.com/
ReliantFunding 412-942-1010x18 www.reliantfunding.us
ResidentialLendingNetwork 800-749-5363x5276 www.reslend.com(Fannie/Freddieonly)
ReunionMortgage 559.476.0937 www.reunionwholesale.com
RoyalCrownBancorp 877-507-6925 www.crownloan.com
SecurityAtlantic(FHAonly) 800-956-3863 www.fhaland.com
SecurityMortgageFunding 619-249-9166 www.smfcloans.com/brokers/ (Fannie/Freddieonly)
SecurityNational Mortgage 619-857-2700 www.securitynational .com
SenderraFunding 704-831-3600 www.senderra.comSierraPacic 661-713-6564 www.spm1.com
SouthPointFinancial (Fannie/Freddieonly) 239-949-1406 www.spfs.com
Stearns 925-628-0704 www.stearnswholesale.com
SunTrustWholesale 913-982-2150 www.stmpartners.com
SWCFinancialCorp. 714-680-7050x113 www.swcnancial.com
Taylor,Bean&Whi taker 888-678-8547 www.taylorbeandirect.com
TheJumboLender 800-826-0360 www.TheJumboLender.com
TheMoneyStore 818-326-2217 www.themoneystore.com
TitanWholesale 775-852-6888x225 www.titan-wholesale.com
TrustOneMortgage 949-450-1888x2430 www.trustone.com
U.S. Bank ConsumerF inance 941-539-1603 www.usbank.com
United International Bank 313-903-2082 www.unitedinternational .us
UnitedResidential Lending 404-661-4632 www.urlending.com
UnitedWholesaleMortgage(FHAonly) 800-981-8898x5590www.usmwholesale.com
Vertice 925-570-0777 https://www.verticelending.com/
VillageCapitalandInvestment(FHAonly) 856-252-1825 hwww.villagewholesalelending.com
WallStreetWholesaleLending 856-446-2998 www.wallstreetwholesale.com
WCSLending(FHAonly) 561-241-5200 www.wcslending.com
WellsFargo 310-283-8411 www.brokersrst.com
NICHE REPOR
36 November2008
Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consum-ers, as dened by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to eachlenders information on products, program, procedures, representations, and warranties for details.
prime l lstgs tu
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LuxMac,Covino,andCompany 800-762-2274x312 http://luxmac.com
LuxuryMortgage 203-569-4249 www.luxurymortgagewholesale.com/
MaitlandMortgage 407-629-5626 www.maitlandlending.com
MegaCap ital FundingInc 818-657-2600 www.megacapi talfunding.net
MeritMortgage 310-650-0773 meritwholesale.com/
MetroCit iesWholesale 714-241-5882x122 www.metrocit ieswholesale.com
MFCMortgage,Inc 877-562-6754 www.gomfc.com
MortgageClose 714-453-0220 b2b.mortgageclose.com
MortgageIT 503-716-1206 wld.mortgageit.com/Default.aspx
NetMoreAmerica 509-526-4007 www.netmoreamerica.com
NorthStarLending 954-843-7018x7018 www.mynorthstarlending.com/
OnlineFinancialGroup 703-307-7006 www.ofglending.com
PacicBancMortgage 571-340-5593 www.pacicbanc.com/
Paramount Res idential 866-966-8989x300 www.prmglending.net
PhoenixFunding 877-562-6414x230 www.phoenix-funding.com
PlazaHomeMortgage 949-910-1055 x 450 www.plazahomemortgage.com
Portfo lioMortgageCompany 480-775-5150 www.portmort.com
PreferredCapital 727-418-4189 www.prefercapital.com
ProtoFund 813-436-6803 www.protofund.com
QuikFundInc. 813-671-0712 www.quikfund.com
RehabFunding 610-645-9939x310 http://rehabfunding.com/
RightStartMortgage 800-520-5626 www.rightstartmortgage.com
RoyalCrownBancorp 877-507-6925 www.crownloan.com
SecurityMortgageFundingCorp 619-249-9166 www.smfcloans.com/brokers/
SouthTrustFunding 813-363-2768 http://southtrustfunding.com
SWCFinancialCorp. 714-680-7050x1 13 www.swcnancial.com
TheJumboLender 800-826-0360 www.TheJumboLender.com
TrustOneMortgage 949-450-1888x2430www.trustone.com
United International Bank 313-903-2082 www.unitedinternat ional.us
UnitedResidentia lLending 404-661-4632 www.urlending.com
USBank 702-630-0770 www.usbank.com
USEqui ty Broker Di rect 901-239-3339 www.usequitybroker.com
Vertice 925-570-0777 www.verticelending.com
WestOneMortgageCorporation 818-921-7602 www.westonemortgagecorp.com
NICHE REPORTS
TheNicheReport.com
Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consum-ers, as dened by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to eachlenders information on products, program, procedures, representations, and warranties for details.
NON PRIME & ALTA
CapitalManagement480-575-1782
GregoryFundingLLC888-324-3578
MidIslandMortgageCorp.703-754-9643 - t d
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d p sz s s. nod bk ok. n c S. n p- p. u 75% ltV. l s $1mm. l : aZ, ca, co, id, nV,or & wa
l/n S fha s. t fha s ok. n . SJ s. c ss / s.
Premium Listings
NON PRIME & ALT-A Lender Listings Powered by TheLoanPost.com
ReverseIt!AdivisionofUrbanFinancialGroup,Inc888-777-3311
WorldAllianceFinancial877-692-7762 x 404
rvs ms, ss s s. t s v.
rvs m -fha s s
Premium Listings
REVERSE MORTGAGES
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38/48
NICHE REPOR
38 November2008
Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consum-ers, as dened by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to eachlenders information on products, program, procedures, representations, and warranties for details.
Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consum-ers, as dened by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to eachlenders information on products, program, procedures, representations, and warranties for details.
HARD MONEY
AllCaliforniaHomeLoans877 462 3422
AmbitFunding800-823-7101
AFGLLC(AssetFundingGroup)720-889-1175
AFGLLC(AssetFundingGroup)720-889-1175
AvatarFinancialGroup888-896-0083
BRTRealtyTrust516-466-3100 800-450-5816
ContinuumFundingGroup703-564-1659
c rs , c s, x ltV65%
S- s; ms s raw land; a 50 ss, c; mx ltV 70%, 50% l
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d - 70% ltV: b s, s & ,s , , s qs.n $300 $3 , 24 s ss 5 s s. hard money- made eaSy
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Premium Listings
AmericanBancShares 305-817-2165 www.americanbancshares.com
Arl ingtonCapi ta lMortgageCorp 800-8 14-9432 www.acmcwholesale.com
CircleMortgageCorporation(Flonly) 800-576-1338 www.circlemortgage.com
Con ti nenta l HomeLoans 631 -393 -3800x 114 www.chlmor tgagebankers.com
CountrywideBank 866-212-4378 www.cwbc.com
EssexMortgage 702-893-9200 www.essexwholesale.com
FinancialFreedom 800-500-5150 www.nancialfreedom.com
FinancialHeritage 800-895-2209 www.nancialheritage.com
FirstHorizon 888-553-8929 www.rsthorizonwholesale.com
FortesResidential 866-571-8201 ww.forteswholesale.com/
GenerationMortgage 866-733-6089 www.generationmortgage.com
GotMortgage.com 760-802-9630 www.gotmortgage.com
L iberty Reve rse Mor tgage 866-87 1-1353 h ttp :/ /l iberty reve rsebroke r.com
MetLifeHomeLoans www.wholesale.metlifehomeloans.com
NetMoreAmerica 509-526-4007 www.netmoreamerica.com
PacicBancMortgage 571-340-5593 www.pacicbanc.com/
Quali ty L ifeReverseMortgage 800-955-7919 http://quali ty li ferm.com/
QuikFundInc. 813-671-0712 www.quikfund.com
SilvergateBank(cml) 858-362-6300 www.silvergatebank.com
SouthPointFinancia lServices 239-949-1406 www.spfs.com
Sunwest 800-453-7884 www.swmc.com
Well sFargoReverseMortgage 800-336-7359 http://www.wel ls fargo.com
WorldAl li anceF inancial Corp. 800-562-6755 www.wor ldal li ancenancial .com
REVERSE MORTGAGES Lender Listings Powered by TheLoanPost.com
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8/14/2019 Final November Online
39/48
NICHE REPORTS
TheNicheReport.com
Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consum-ers, as dened by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to eachlenders information on products, program, procedures, representations, and warranties for details.
FairviewCommercialLending866-634-1270
FinancialResourcesMortgage603-279-1133
FirstMountVernon(866) 908-fmV1 (3681)
FirstMountVernon(866) 908-fmV1 (3681)
GregoryFundingLLC888-324-3578
LJLFunding888-456-0246
Manaseh,Epharim&Associates770-840-0112
MetroFundingCorp866-302-6360
MinerCapitalFunding,LLC702-466-8952
RemingtonFinancialGroup,Inc480-905-3239
StonecrestFinancial888.884.6518
TrustCapitalInvestmentsLLC301-503-2231
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n ss qs, n ss s,m s 400
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d p sz s s
. nod bk ok. n c S. n p- p. u 75% ltV. l s $1.0mm. l : aZ, ca, co, id, nV,or & wa
fc bs - n fico qs. fs s s. t . css gs -g Sv!
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hard money u s tu
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8/14/2019 Final November Online
40/48
NICHE REPOR
40 November2008
Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consum-ers, as dened by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to eachlenders information on products, program, procedures, representations, and warranties for details.
Financing may not be available in all states. The above summaries are intended for Mortgage Profes