Posts Tagged ‘ mortgage broker ’

Mortgage Broker or Direct Lender?

Happy New Year, HomeGainers! 

One of my resolutions this year is to be more active on the HomeGain Blog.  While I love to talk about marketing ideas, my self-appointed “title” here, if you will, is resident mortgage guru.  I hope to expand my offering to you with a weekly column, more focused on mortgage financing issues that you, the professional real estate agents, face.

I asked my LinkedIn network if they believed that better loan terms were secured by independent mortgage brokerages or direct lending institutions.  Here are some of the answers:

Supporting Direct Lenders:

Bill Powell:

As a direct lender (portfolio lender for most of our offering with a few loans being sold to the secondary market for FHA and VA loans) I have seen changes in the common offerings. You might expect me to say “go with a banker” but read on, especially the the advice in last paragraph. We play fair at this company.   

At one point the brokers had most everything the banks had with very similar rates. Now it seems the brokers have more speciality type products but with higher rates and fees.

My advice to borrowers is to… Continue reading this post


Posted by: Brian Brady on December 29th, 2008 under Financing, Mortgage and Home Loans, Guest Bloggers


Can You Whip A Stockbroker?

HomeGainers (and anyone else who wants to attend) have an incredible opportunity this month.  For the past two years, your pin-stripe suited cousins on Wall Street have been pooh-poohing real estate as a viable retirement planning investment.  Securities statements are coming out around the 5th or 6th of December and you have a chance to get some business.  Over 90% of the “white shoe” investment firms’ $1 million clients are seeking advice elsewhere.  Only 29% of the clients of the smaller, “boutique firms” will be leaving their advisers.

What’s your plan to get some of that money?

Do you know how to compare the S&P500 to responsibly leveraged residential real estate?  The S&P 500 is lower than it was a decade ago.  Today, it’s trading at 857 while it was over 900 in 1998.  At it’s peak in the last decade, the index broached 1600 (last year) , almost twice of its current value.  This means some 40-50 year olds have seen 30-40% of their retirement accounts drop in value…

…and they’re very scared.

If an investor wanted to double his money in the next ten years, leaving it in the S&P500 may just do it.  What would a single-family home, in a good area, need to appreciate, to achieve the same goal?

…about 3.3% per year.  In other words, can a home selling for $200,000 today, sell for $300,000 in ten years?  If you can confidently answer “yes” to that question, you can compete with the Wall Street titans for their former clients’ money…and I’ll show you how to do it..for free*

Don’t wait.  Register for the FREE “Ask the Experts Call” today.

* There ain’t no such thing as a free lunch.  If you like what you hear on the call, I’ll hope to earn the right to help your new clients with their financing.  It’s not mandatory but I might just help you snare a new client.


Posted by: Brian Brady on November 29th, 2008 under Financing, Mortgage and Home Loans, Guest Bloggers, HomeGain

1 Comment »

Mortgage 911

Don’t you just hate lenders?

You know what I’m talkin’ about. You secure a pre-approval letter, find the buyer their dream home, arrange the home inspection, negotiate repair items, remove loan contingencies, arrange the closing (or settlement for the lawyer states), and…

BRRRING BRRRING !! Your phone rings three days prior to settlement.

”Uh, this is Walter Banker from Big Bank in America. We have a problem.”

Husbands are cursing, wives are crying, and children are depressed because there is no mortgage. Sellers, their agents, lawyers, and everyone involved in the transaction are threatening lawsuits. A sad and stressful situation, to say the least.

There are three reasons for this:

a) The client’s loan originator is a liar.

Seriously. Less experienced or desperate loan originators overpromise and under deliver. They push the edge of the envelope and deliberately make promises they are unclear about. Continue reading this post


Posted by: Brian Brady on April 7th, 2008 under Financing, Mortgage and Home Loans, Guest Bloggers


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