Hartley Pinn

Mortgage marketing to realtors can be an easy and enjoyable process. Having a steady flow of referrals from real estate agents is a great way to insure the continued growth of your business.

But how do you develop a network of quality, low maintenance realtor referral partners? Good question. Below you will find the answer.

Are you ready to get started? Here are step by step easy to follow instructions given in an outline format to help you develop 10 realtor referral relationships in the next 30 days.

I. Finding Real Estate Agents

Option 1: Escrow Officers

1) Select 5 huge title companies in different parts of town.

2) Use the top escrow officer at these companies for a transaction.

3) Wow your client and have the escrow officer complete your customer satisfaction survey at close so the title officer can see what a great job you do for your clients.

You can download a sample customer satisfaction survey by visiting:
http://www.Mortgage-Leads-Generator.com/a/survey.htm

4) Immediately after the transaction funds, send the title officers at all 5 offices a gift and tell them how much you appreciated their top notch service during the transaction.

5) Exactly one week after the title officers receive your thank you gift, go see each of them face to face and ask them for referrals to top realtors. Ask for referrals to real estate agents that are easy to work with and do at least 2 transactions a month (or however many transactions you would like).

Option 2: Top Producer List

Ask your title officer for a list of the top producing real estate agents in your area. This list will enable you to target real estate agents who are actually doing business.

II. Approaching Real Estate Agents

Option 1: Approach Letter

1) Send a letter to one or two real estate agents per day. Be sure to stay organized. Use software or some other method to keep track of who needs a follow up call each day.

2) Send your letter in an unusual way so it gets noticed - like a Fed Ex overnight package for example. Everyone opens overnight packages with great anticipation.

Here is the delivery method I used. I learned it from Todd Duncan and it worked well:
Wrap your approach letter around a Pay Day candy bar, use a gold ribbon to keep the letter attached to the candy bar, then send your letter / candy bar to realtors in a tube.
This letter delivery technique is sure to get noticed.

For a sample approach letter to use when mortgage marketing to realtors visit:
http://www.Mortgage-Leads-Generator.com/a/realtor.htm

Here are some important elements to include in your approach letter:

* Offer a unique selling proposition (USP) that can help their business
* Tell them a little about yourself.
* Also, tell them you will be calling in 2 days to schedule a face to face meeting. At the meeting you will explain your USP and how it can improve their business.

Option 2: Office Managers and Realtor Associations

1) Contact real estate offices and ask to speak with the manager. Explain to the manager that you are a top producing Mortgage Planner. You are currently offering complementary seminars to a limited number of real estate offices.

Here are a few seminar ideas:

* How realtors can use 1% mortgage loans to increase their business
* How to get more leads from your real estate website
* Anything you can think of that would benefit the realtors at the office.

2) Offer to give the short talk during their next sales meeting.

3) Offer to bring lunch.

4) During your talk offer the realtors a valuable tool, gift or information that can only be obtained by giving you their business card. When you send the gift include an approach letter explaining you will be contacting them for a face to face meeting to discuss a USP that can increase their business.

You can also use this technique with local realtor associations. Offer to give your talk to the entire association. Just be sure the topic and information you discuss is truly useful.

Give these ideas a try. They really work! You?ll be amazed at how fast your mortgage referral business will grow.

By the way, if you are the shy type and do not want to conduct seminars or face to face realtor meetings, you can always hire someone or bring on a partner to do this stuff for you.

Please feel free to reprint this article as long as the resource box is left intact and all links are hyperlinked.

Hartley Pinn has recently created the “Mortgage Leads Generator”
Training Course to teach mortgage loan officers 10 proven strategies for generating more than 71 mortgage leads per day.

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Anonymous

FOR IMMEDIATE RELEASE

CONTACT: Wendy Kilpatrick
MBS Mortgage Company, LLC
Phone: 800-967-9043, extension 7244
Fax Number: 616-942-9713
E-mail address: wkilpatrick@mbscu.com
Web site address: www.cumortgages.net

New Mortgage Programs Rolled Out To Credit Union Members

Grand Rapids, Michigan
January 24 2003

MBS Mortgage Company, LLC is pleased to announce the addition of several new mortgage programs designed exclusively for Credit Union members.

New programs will increase the number of Credit Union members qualifying for mortgages. Specialized programs include:

§
Stated income program. Ideal for self employed members.
§
One time closing, for new construction mortgages.
§
100% mortgages for refinances and purchases.
§
Expanded programs for credit challenged members.

MBS’s President, John Teweles stated,” Our mission is to assist Credit Union members with all their mortgage needs. Twenty-five to thirty percent of members are unable to qualify for traditional conventional mortgages. We now have programs available for many of these members.”

MBS Mortgage Company, LLC offers mortgage services to Credit Unions in the Midwestern and Eastern United States and is a division of Multi-Bank Services, Ltd. The company has specialized in meeting the needs of Credit Unions for institutional brokerage and mortgage services since 1985.

##

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Anonymous

Grand Rapids, MI June 27, 2004 — Have you ever wanted to ask a question to the head of a mortgage company? Now you can.

At http://www.mortgageiq.net, consumers have the opportunity to ask mortgage related questions to John Teweles, President of MBS Mortgage Company. Whether you have specific mortgage product questions, or are wondering what type of mortgage is best for you, John is there to help. A simple online form can get you to the answers you are looking for.

While visiting the website a consumer can browse an extensive library of mortgage information and even request specific mortgage reports. Designed as a simple, easy-to-use site, mortgageiq.net lets a borrower collect mortgage information without being overwhelmed by advertisements and pop-up ads.

MBS Mortgage Company, LLC, a division of Multi-Bank Services, Ltd. is a national mortgage lender, offering over 175 mortgage products. The company has specialized in meeting mortgage needs since 1985.

CONTACT: Chris Johnson
MBS Mortgage Company, LLC
Phone: 888-278-5482, extension 7301
Fax Number: 616-942-9713
Email address: cjohnson@mbs-mortgage.com
Website address: www.mortgageiq.net

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Mike Hamel

There are more than 19,000 mortgage companies in the U.S. and some of the largest and most reputable of them specialize in subprime mortgage refinancing.

Steven Frank, Senior Vice President of Marketing at FlexPoint Funding identifies a subprime borrower as ?someone with a FICO score below 620. He or she will pay between 1.5% and 2% higher interest for a mortgage, but there is no shortage of money or willing lenders in the subprime mortgage market.?

What trends do you see in the subprime mortgage market for 2006 and beyond?

Steve: We went through the biggest refinancing boom in history from mid 2002 through September of 2005. As many as 80% of Americans refinanced their homes during that time. Interest rates on adjustable rate loans dropped to under 4% during the boom with some homeowners opting for fixed rates as low as 5%.

Now both fixed and adjustable are back around 6.5% and will probably reach 7% for an A-grade 30-year fixed mortgage and 9% for a subprime mortgage by the end of 2006. The rate of appreciation is a more normal 6% - 12% annually. A typical home in most parts of the country stays on the market about six months, which means it?s a balanced market favoring neither buyers nor sellers.

What type of mortgage would you recommend for subprime borrowers?

Steve: Most subprime borrowers won?t qualify for a second mortgage or a home equity line of credit. They will have to refinance their first mortgage if they want to cash out some of their equity. Depending on their personal situation, a homeowner may be able to borrow up to 95% LTV (loan to value). More likely, it will be in the 75%-85% range. There are very few 125% LTV mortgages anymore, and subprime borrowers won?t qualify for these.

Subprime borrowers should work with a company that understands their particular needs; one that sees more than their past problems and that specializes in flexible, affordable mortgage solutions.

Mortgage Refinancing Advice

Check your credit - According to the government loan agency, Freddie Mac, up to 15% of subprime borrowers have credit scores that qualify them for traditional loans. Don?t settle for subprime rates if you can get prime-rate mortgage refinancing.

Watch your costs - Interest rates won?t vary much among subprime mortgages, however, there are some aspects of the loan structure that will impact the bottom line, such as:

- length of the mortgage term; 10, 15 or 30 years

- if it is a fixed-rate loan or an adjustable-rate loan

- whether any points have to be paid ( a ?point? equals one percent of the loan)

- what kind of processing fees and closing costs are required

Look for good customer service - A good lender will walk potential borrowers through the application process, verifying personal information and making sure all the terms of the loan are understood. The lender will also recommend whether to lock in an interest rate during the processing phase or let the rate float until the closing.

Get a free quote - Prospective borrowers looking for refinancing can take advantage of sites like Bad Credit Mortgage Refinancing Now.

Mike Hamel is the author of three business books and several articles about mortgage financing. His material is featured on sites like Bad Credit Mortgage Refinancing Now.

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Jimmy Sturo

It is fairly common for real estate companies and mortgage brokers to use leads. There is a difference between mortgage lead generation and real estate generation. Mortgage lead generation deals with people who need to refinance their homes or apply for loans, while real estate lead generation is a service that connects potential buyers with real estate agents.

Mortgage leads are generated in a number of different ways. One way to create the leads is for the lender, that is the mortgage broker, to appear in a paper or online directory. This lets potential customers make the first contact. The lenders give information about themselves, like the interest rates they charge and types of lending programs they offer, along with their contact information. This allows potential borrowers to search out the lender that is best for them.

Real Estate lead generation is somewhat different. It involves connecting prospective buyers to real estate agents. It is usually a good idea to use a real estate lead generation service that uses only inbound leads, meaning that the buyer contacts the lead generator looking for a real estate agent. This way, the lead generator can get the most information possible from the buyer in order to find the most appropriate real estate agent. Many lead generation services use tricks to lure prospective buyers.

Mortgage lead generation helps lenders and borrowers find each other. This service benefits everyone involved. Some of the most successful businesses on the Internet are lead generation agencies.

Lead Generation Info provides detailed information about sales, mortage, MLM, business-to-business, internet, and insurance lead generation, lead generation telemarketing, and more. Lead Generation Info is the sister site of MLM Leads Web.

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Louie Latour

Researching mortgage loans will help you avoid common mortgage mistakes that can lead to overpaying thousands of dollars. Here are tips to help you select the right mortgage loan for your situation and avoid making these mistakes.

How Long Do You Plan on Keeping Your Home?

If you think moving could be in your no-so distant future, say less than five years, you might benefit from selecting a three or five year hybrid mortgage. This ?Hybrid? mortgage will help secure you a lower interest rate for the first three to five years; at the end of this period you could sell the property or refinance the loan.

Where Do You Think Interest Rates are Going?

This is a pretty easy question to answer; simply turn on the television and you will see how the Federal Reserve is hell bent of heading off inflation by raising interest rates. If you are concerned with the state of our economy and don?t like where things are heading, a fixed-rate mortgage will offer you the most stability and shield you from economic uncertainty at the hand of the current administration.

How Much of a Stomach Do You Have For Risk?

If you can tolerate financial risk consider a variable interest rate ?option? or “interest only” mortgage. These mortgages can save you money as a short term fix; however, the riskier varieties of adjustable rate mortgages are not for the faint of heart. You can learn more about your mortgage options and how to avoid common mistakes by registering for a free mortgage guidebook.

To get your free mortgage guidebook visit RefiAdvisor.com using the link below.

Louie Latour specializes in showing homeowners how to avoid common mortgage mistakes and predatory lenders. For a free copy of “Mortgage Refinancing: What You Need to Know,” which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com.

Claim your free guidebook today at: http://www.refiadvisor.com

no doc refinancing

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Max Baba

Texas Mortgage Loans with Savings Road-The Path to the Ideal Mortgage Loans

Buying your own house is a dream that we all foster. And to fulfill this dream, you might have to get your finances in order and apply for a mortgage loan. Put in simple terms, Mortgage Loans are loans that are secured by the real estate that the loan is allowing the buyer to purchase. There are many confusing and complicated facts and figures involved in deciding which loan suits you best and further in applying for a loan. There are numerous options available, and to judge what fits your requirements best might be a daunting task. The terms of mortgage loans for different loans are different; in fact home buyers have access to different types of mortgage loans and a number of lenders who offer different packages and terms. At the same time, the functioning and legal effect of mortgage loans varies somewhat from state to state. We at Savings Road can provide access to information on mortgage loans in different places including information on Texas mortgage loans and can further assist you in picking the mortgage loans that are perfect for you.

A word of caution

With so many different types of mortgage loans and cheap mortgage loans available, a borrower planning to invest in Texas such as the Houston real estate market, the borrower may just get overwhelmed and consider a loan program that sounds simple and familiar. Also with the so many options available for the Houston real estate market, from single house homes to condominiums, a borrower might not know what Texas mortgage loans to pick. At the same time, a Texas home mortgage loan lender in the Houston real estate area might take advantage of the situation by only enumerating the benefits of the mortgage loans that he offers. He might avoid discussing the disadvantages of the Texas mortgage loan touching the Houston real estate in question. As a result, a borrower might get taken in and actually end up picking the wrong mortgage loan.

Numerous options for Texas mortgage loans

Applying for a Texas home mortgage loan or a mortgage loan for any other area can be both stressful and exciting. The options available for mortgage loans Texas are numerous, at the same time the packages for Texas home mortgage loan offered by lenders are also one better than the other. As a result, taking a decision regarding a Texas mortgage loan can be difficult for a first time borrower or even for a person considering refinancing their home. To simplify the process of selecting mortgage loans Texas that are ideal for your requirements, our experts take your financial situation into consideration, analyze it and then advise you on the Texas mortgage loans that are ideal for you.

There are a number of different factors that need to be considered when you apply for a Texas mortgage loan be it for Houston real estate, or a loan for any other area in Texas. Just picking cheap mortgage loans might not be the best choice that you make. At the end of it, it is the long term effect that the Texas mortgage loan taken for the Houston real estate property will have on your financial stability that determines whether it is right for you or not. We at Savings Road provide expert advice on your Texas home mortgage loan that can help you in making the correct decision. You can garner information from our experts who specialize in mortgage loans Texas. These experts tailor information specifically according to your needs, goals and budget on the basis of the knowledge that they possess about mortgage loans Texas. As a result, with the vast knowledge and information presented, you can take a decision regarding the mortgage loans Texas that suit you the best.

Proper guidance to secure the ideal loan

We at Savings Road can help you in putting things in the right perspective and on the basis of our knowledge can help you in understanding the different types of mortgage loans that are available. We can also help you in narrowing down to mortgage loans that would be ideal for you while also providing information on the cheap mortgage loans available from different lenders.

If you are planning to invest in real estate anywhere or for that matter even in the Houston real estate market, you can contact us online and we would assist you in the best possible way. We can provide helpful tips, guidance and information on advantages and disadvantages on different types of mortgage loans, cheap mortgage loans, Texas mortgage loans, Houston real estate and generic mortgage loans offered by different lenders. Our information is unbiased and is aimed only at assisting you to get the right mortgage loans.

Useful Readings:

Low Interest Mortgage Rates: http://www.savingsroad.com/low-interest-mortgage-rates.php

Austin Texas Mortgage Rates: http://www.savingsroad.com/austin-texas-mortgage-rates.php

Texas Mortgage Loans: http://www.savingsroad.com/texas-mortgage-loans.php

Chicago Real Estate: http://www.savingsroad.com/chicago-real-estate.php

Mortgage Broker Texas: http://www.savingsroad.com/mortgage-broker-texas.php

Commercial Mortgage Loans: http://www.savingsroad.com/commercial-mortgage-loans.php

Refinance Loan: http://www.savingsroad.com/refinance-loan.php

Texas Mortgage Rates: http://www.savingsroad.com/texas-mortgage-rates.php

Mortgage Loan Real Estate: http://www.savingsroad.com/mortgage-loan-real-estate.php

Refinance Mortgage Rate: http://www.savingsroad.com/refinance-mortgage-rate.php

Texas Mortgage Refinance: http://www.savingsroad.com/texas-mortgage-refinance.php

Mortgage Rates: http://www.savingsroad.com/mortgage-loan-rates.php

Home Loans: http://www.savingsroad.com/home-building-loan.php

Dallas Home Loan: http://www.savingsroad.com/dallas-home-loan.php

Max Baba is the founder & CEO of http://www.SavingsRoad.com, a leading Residential and Commercial Mortgage Brokerage company. He has about 11 years of experience in the real estate arena, ranging from financing to legal consulting, utilizing both his finance degree and law degree.

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Glenn Ginsburg

Mortgage fraud may continue to plague the real estate industry. Maybe, I am seeing only the 20% Fraud for Property/Housing, as defined by The Federal Bureau of Investigations.

Reasons why mortgage fraud may continue:

1) The escalating cost of housing and the “American Dream” of owning your own home.

2) Licensing for real estate agents and mortgage brokers is much too easy. The requirements for licensing need to require a greater level of education, more than a high school degree as a prerequisite for licensing and harder licensing requirements, such as more pre-licensing education and harder tests. This will result in better people and less people entering the real estate profession.

3) Lenders need to offer less loan programs, for example, stated income loans (some refer to this as inflated income loans) and no doc (no documentation loans).

4) Most lenders require an IRS (Internal Revenue Service) Form 4506 at time of closing. Now, there is something that an underwriter or lender can request information and stop an inflated (aka stated) income mortgage application dead in its tracks. If they lie on their income tax return, is it possible that they would lie on their mortgage application?

5) Lack of educational programs in the real estate profession to identify mortgage fraud - could be wishful thinking, due to the Privacy Act - but at least a start. Where to report suspected mortgage fraud situations to the appropriate law enforcement authorities.

6) The credit reporting and scoring system needs an overhaul. Too often, I find errors on credit reports, where the creditor is not reporting timely or accurately information. For example, a customer settled in full his collection action in the later part of February ‘06. The collection agency in the later part of April is still showing a portion of the account as outstanding with a current date. Yes, they reported the payment, but did not remove the negotiated portion of the balance.

7) Lack of control points within the existing system.

What could possibly be done to reduce the mortgage fraud:

1) More checks and balances within the system to identify potential mortgage fraud situations.

2) More education for all real estate professionals - real estate agents, REALTORS, underwriters, lenders, etc.

3) Greater licensing requirements for all. And licensing requirements where no licensing is required at this time.

4) Implementation of a “whistle blower” protection system and telephone hotline.

5) Proactive preventative action on the part of lenders.

6) Enforcement of Section IX - “ACKNOWLEDGEMENT AND AGREEMENT” located on page 3 of the Uniform Residential Loan Application (FNMA 1003):
“Each of the undersigned specifically represents to Lender and to Lender’s actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assigns and agrees and acknowledges that: (1) the information provided in this application is true and correct as of the date set forth opposite my signature and that any intentional or negligent misrepresentation of this information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due to reliance upon any misrepresentation that I have made on this application, and/or in criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Sec. 1001, et seq.;…7) the Lender and its agents, brokers, insurers, servicers, successors and assigns may continuously rely on the information contained in the application, and I am obligated to amend and/or supplement the information provided in this application if any of the material facts that I have represented herein should change prior to closing of the Loan;…”

7) Enforcement of the paragraphs from the typical mortgage, which reference the borrower’s loan application and acceleration clauses: Borrower’s Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of the Borrower or with Borrower’s knowledge or consent gave materially false, misleading, or inaccurate information or statements to the Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower’s occupancy of the Property as Borrower’s principal residence.
Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower’s breach of any covenant or agreement in this Security Instrument…(d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and sale of the Property.

Better and possibly required education of prospective borrowers, so they can recognize the impact and identify situations.

Implementation of number 6 above will send shock waves into the communities and cause the less desirable professionals out of business and awareness to borrowers. Many may argue that this will be costly to the overall economy or lenders if foreclosure proceedings are needed, but in the long run there could considerable savings for all.

In summary, mortgage fraud may continue, until such time that the losses reach greater levels unless there is a proactive preventative overall program to curb it. Old country saying “you don’t close the gate after the horse leaves the corral.”

(c) Copyright 2006, Glenn M. Ginsburg. All rights reserved.

Glenn Ginsburg is a Florida Licensed Real Estate Broker and Mortgage Broker in the Naples real estate market for over 10 years. Also serving the Bonita Springs real estate and Estero real estate markets in southwest Florida. Glenn was selected as a 2006 FIVE STAR Real Estate Agent “Best in Client Satisfaction” from over 12,000 real estate agents in southwest Florida. He is the owner/broker of A Delta Realty of Naples Florida.

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Tracey Anderson

A mortgage is often the biggest commitment a person undertakes, and one should take time to consider all of the legal and financial details before diving head-first into such an agreement. Your mortgage broker, banker, or real estate agent can often be a good source of information about these details; if there is still confusion, you may even wish to engage a solicitor to review your contract, watch out for unusual or potentially harmful clauses, and explain the details to you. Always take time to read the contract, and seek out third-party advice if you do not understand it. An unscrupulous lender, broker, real estate agent or seller may attempt to pressure you into signing an agreement without reading it, or worse, yet, signing a blank form for them to fill in later. Avoid succumbing to this pressure, and always understand what you are signing before you have signed it. If you are being pressured to sign a contract immediately without a thorough reading, then the best thing to do is walk away.

Once you’ve found a house and arranged for the mortgage, the legal process of transferring ownership between parties, known as conveyance, is very specific and complicated. Your mortgage broker, lender, or real estate agent may be familiar with the process, and may be able to give you advice on the matter. However, the process itself must be done by a solicitor or registered conveyancer. Alternately, a homeowner can choose to do the process individually using a do-it-yourself kit. Conveyance naturally comes with a conveyance duty which must be paid to the state, although in some states, you may be able to qualify for an exemption if you are a first-time home buyer.

The property title itself, which in most cases is called a Torrens title, establishes proof of ownership. Old System titles are more complicated, and require the buyer to show clear title for every previous owner.

The issue of survivorship must also be addressed. Typically in the case of a husband and wife, the home is held in joint tenancy, so that if one spouse passes on, the other will retain the right to the property. If a home is held in tenants-in-common, however, each tenant’s share of the home is separate, and in the case of death would become part of the deceased’s estate. Under common law, if no other arrangement is specified, joint tenancy is assumed.

Before buying a home, legal hassles can be avoided by executing a thorough inspection. You can choose to inspect the home yourself, or hire a licensed inspector. Either way, you will be able to gain knowledge about any existing conditions of the home that you can use in your negotiations. Having knowledge of the home’s condition and any flaws or defects ahead of time will put you in a better legal position, since it may be difficult to recoup any costs for undetected flaws after the transaction has already been finalized.

Tracey Anderson is a mortgage broker with 16 years experience in the Australian mortgage industry. For personalised information from leading independent brokers, visit http://www.mortgagemall.com.au

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Anonymous

BOONSBORO, MD March 5, 2004

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