Hardcore Mortgage Real Estate and Business Show

Description: Weekly Real Estate and Mortgage Radio show every Saturday morning at 9:00 am EST. Weekly guest appear along with Capital Mortgage Funding’s own Harry Glanz, Harvey Freed and Alex Nefouse. Michigan based, the show answers questions from callers and discusses various real estate and home mortgage topics.

Watch new shows every Saturday @ 9:00 am EST. before they are posted on YouTube. To watch Live, please Visit and FOLLOW / LIKE our Facebook Show page: https://www.facebook.com/Hardcore-Mortgage-Show-162371320478068/

Hardcore Mortgage Show 07-22-2017

Click the link below to watch this show:

https://www.youtube.com/watch?v=iRgN8rPUld8

Call or Text 1-800-LOW-RATE (1-800-569-7283) to connect with one of Capital Mortgage Funding’s experienced Loan Officers or visit us online @: www.LowRateOnline.com , https://www.facebook.com/CapitalMortgageFunding/ , https://twitter.com/LowRateOnline , https://www.youtube.com/channel/UCFbLdaYkmYyUfbal2uCpZ4Q , https://www.facebook.com/Hardcore-Mortgage-Show-162371320478068/

Please see below for this show’s various segment topics.

Dan Dubensky, of Skyward Realty in Royal Oak, says #HomeListings have increased the last few months. Should #HomeSellers test the market? Dan on is the Seller motivated? Go to min. 2:00 to watch this segment.

Harry Glanz shares a conversation he had with a client wanting to offer more than the #ListingPrice because of #MultipleOffers on the house. Offering #Incentives is discussed. See min. 3:30 to watch this segment.

Caller Walter in #LakeOrion asks about selling his #Rental with current market conditions. The group dissects his situation. See min. 10:30. Caller Michelle asks about a home in #Hamtramck her Father and her own. See min. 18:45 for this segment.

Harvey Freed and the group discuss how good #Realtors and #Lenders prepare clients upfront on #Appraisal #value possibilities. Harvey shares a recent example. See min. 6:00

#DoddFrank prohibits Lenders from talking to Appraisers, #Realtors can. Dan Dubensky of Skyward Realty, talks about meeting #Appraisers at the home as an added resource (if needed). See min. 9:20 for this segment.

Harvey Freed on #HomePurchases doing dynamite and getting #Approval first. The importance of getting a True Approval and getting your documentation together gives you a lot more confidence in #MakingOffer. See min. 23:55

Harry Glanz on #Michigan #PropertyValues have come back. Harry and Harvey Freed on #Arm vs. #FixedMortgage and shortening the term when possible. Also, #NewConstruction and 6 month Lock Program is discussed. See Min. 49:10

Caller Brian from #Waterford on #Rent with Option to Buy. Harvey Freed talks about the advantages and disadvantages. Dan and Harry explain how they work. Usually for people who may not qualify for a #mortgage . See Min. 32:50

Caller Jim in #Adrian has a house on 3.2 acres and wants to #Refinance#Parcels are split but he wants to make them one Parcel. The group shares their views on pros and cons of merging or keeping them separate. See Min. 36:20

Caller Ed from #SterlingHeights wants to #PurchaseHome and the gang advises an #FHAloan based on his situation. He has been #Renting buts wants to be a #HomeOwner See Min. 38:20 .
Caller Mike from #Detroit wants to sell his #Home and the gang talks about #Comps for value. See Min. 40:10

Harvey Freed and Dan Dubensky of #SkywardRealty, discuss should you pay more for a house that does not need repairs Or #BuyHome for less that needs many renovations? Also, the effect of #MortgagePayments with $20k to $30k higher mortgage amount. See Min. 52:40

Call 1-800-LOW-RATE to speak with one of Capital Mortgage Fundings experienced Loan Officers or visit them online @: www.LowRateOnline.com

Appraisals and Home values in Michigan 2017

Interesting update on Appraisals and Home values in Michigan 2017. Listened to a real estate/mortgage related radio show last Saturday morning and wanted to share some of the updates, and a link to the show if you want to listen to it. Mortgage Loan officers, Realtors and Appraiser’s shared their professional updates.

List of 5 things that were discussed on the show:

1). Are current home values up or down in 2017.

2). What can a Homebuyer do if the appraisal falls short of the purchase agreement sales price.

3.) Understanding what comps an appraiser uses in establishing value.

4.) How the Realtor can help in value disagreements.

5.) The importance of a Mortgage Pre-approval before you shop for a home.

The Hardcore Mortgage Real Estate Business Show is LIVE! Call 248-539-9797.

Posted by Capital Mortgage Funding on Saturday, April 22, 2017

This radio show airs every Sat morning at 9am EST.. Capital Mortgage Funding’s President Harry Glanz, heads up the cast of mortgage and real estate related professionals each week. www.lowrateonline.com/hardcore-mortgage-show/

Business Texting Service for Mortgage Lenders

Mortgage Lender Business Texting Service. Mortgage Lenders improve Customer Communications, increase Lead Gen and enhance Customer Service (and reduce loan processing times). Let your customers text your company landline and toll free phone number. So many ways to utilize this business texting service.

Processors can text customers and receive faster response rates to get conditions cleared (And not need to use their personal cell phones). Phone calls, voice mails, emails take more time to connect with the customer.

New customers can text if they chose vs. calling or filling out forms on websites. Market your company phone number as “Call or Text” 800-000-0000. You will be surprised how many more new inquiries you will have for MLO’s to contact.

Stay in touch with your past customers and current Leads with our CRM integration tools (Sales Force and other CRM’s). Our patented software platform is easy to use. The platform is specialized for the mortgage industry and accessible on Desktops as well as from our Mobile App.

Anthony VanDyke, president of ALV Mortgage in Utah, says his company started text messaging clients earlier this year, and that they love it. “We found that clients can’t and just don’t want to answer their phones at work,” VanDyke says. “But they have no problem sneaking in a text message to answer a quick question.” “This has dramatically sped up our loan process as we are now not waiting 24 hours to get a response to our voicemail,” he says. “We are now getting answers to questions immediately.” Source: https://www.mortgageloan.com/7-ways-millennials-want-mortgage-information-digitally

Check this article out as well: http://www.housingwire.com/blogs/1-rewired/post/38986-loan-officers-stop-calling-your-millennial-homebuyers

27 years Experience in the Mortgage Industry. Contact Dave to schedule a Free Demo, Call or Text 248.767.1950 or email: dave@lenderinsider.com

FIND A GOOD MORTGAGE LOAN OFFICER Part 2

David Mully
David Mully

This is the 2nd part in a series of articles on this topic. The series and other mortgage related articles can be accessed on Dave’s blog located on his website: www.lenderinsider.com

What type of home mortgage are you looking for? The answer to this question should determine which mortgage loan officer you shop for and ultimately select. Finding a good mortgage loan officer that is skilled in the mortgage program you are seeking, should be your top priority.

Most consumers shop for “low mortgage rates” and a lender. But they usually don’t consider which loan officer they will end up working with when selecting a lender. Especially when shopping online.

For example, you do a search for “mortgage rates”. And hundreds of lenders pop up vying for your business. Sifting through this list can be overwhelming in determining who you decide to contact. And once you select a few lenders, you really have no idea who the loan officer will be on the other end that contacts you back.

And if you drill your search down further and search for “FHA mortgage rates”, many FHA lenders pop up. But you still don’t know who the loan officer will be with these lenders. The same is true with any mortgage program search you conduct. It could be for a conventional mortgage, jumbo mortgage, VA mortgage, 30 yr. fixed mortgage, first time home buyer mortgages, refinance mortgage, HARP mortgage, reverse mortgage etc..

The average consumer focuses on shopping for a mortgage lender. But most times does not consider if the lender is proficient at originating, processing and ultimately closing the type of mortgage they are seeking.

My point is this, if you are looking for a jumbo mortgage (Minimum $417k in most states) and just focus on finding a jumbo lender, who’s the loan officer you will be working with? There are many different type lenders who do jumbo mortgages. Banks, Mortgage Brokers, Credit Unions etc. Find a loan officer who understands the jumbo guideline requirements.

A lender who offers low jumbo mortgage rates may not be good at actually processing this type of mortgage. Yes that’s right, lenders all the time offer mortgage programs that their loan officers may not be good at handling.

It takes a certain skill set by a loan officer to originate and process certain type mortgage programs. The last thing you want to do is shop for a lender based on mortgage rates. The interest rate is useless if you can’t get the loan processed and closed in a timely manner.

So if you know what type of mortgage you are seeking, find a loan officer that has experience in that type of mortgage. Mind you, it is not strictly the loan officer that you should base your decision on, but a combination of the lender and the loan officer together.

For example, if you are looking for an FHA mortgage, you do need a lender that is good at FHA mortgages first and foremost. But don’t stop there. Once you find a good FHA lender you then need to interview the loan officer on what experience they have with FHA mortgages.

Trust me, there is a lot of skill and experience required in today’s mortgage lending environment to be good at originating and processing any mortgage program.

A loan officer’s experience with certain type mortgage programs is very important. For example, if you are self-employed and a business owner, you will have tax returns that need to be evaluated. If the loan officer is not skilled at evaluating tax returns you could be in for a long frustrating process.

In summary, shop for a good loan officer that understands and has experience with the type of mortgage program you are seeking. Don’t be afraid to interview them and learn about their background. Finding a good mortgage loan officer will help make your mortgage experience a good one.

David Mully has been in the mortgage industry for 26 yrs. He writes for a national mortgage website: www.mortgageloan.com/contributors . He is the President and CEO of Lender Insider. He has formerly worked as a mortgage loan officer for several years as well as in the B2B sector of the mortgage industry. He formerly wrote a column in several newspapers and online for 6 yrs. titled “Mortgage Search”. His Blog can be accessed on his website: lenderInsider.com

FIND A GOOD MORTGAGE LOAN OFFICER Part 1

David Mully
David Mully

This is the 1st part in a series of articles on this topic. The series and other mortgage related articles can be accessed on Dave’s blog located on his website: www.lenderinsider.com

When shopping for a mortgage, many people overlook the role of the loan officer. But a good loan officer is essential. He or she is the “stick that stirs the drink,” so to speak. The quarterback, the one that controls the entire process.

A good loan officer knows how to make things happen, how to meet deadlines, how to get you the best rate and lowest possible closing cost. They know how to utilize their resources in every step of the process including, processing, underwriting, closing, appraisal and title. A good loan officer knows the value of having a good working relationship with everyone that touches the process.

Mortgage shopping is not as easy these days. The internet has given consumers a vast amount of choices to say the least. Obtaining a referral from realtors or friends, or searching online for the best mortgage rate, is not what it once was. With so many choices, do you feel overwhelmed?

In my opinion, it is smarter to shop for a mortgage if one focuses on finding a good loan officer. Most consumers focus on finding a lender with the lowest rate. But what kind of loan officer will you end up with?

A good lender with a good rate is nothing without a good loan officer to work with (and a good loan processor, more on that later). What good is the best rate and closing cost if you can’t close on time? And it does happen, where you get to the closing, and the rate and cost you were promised are now higher.

Ask the loan officer how long they have been with the company? How long have they been a loan officer? Depending on the type of mortgage you are seeking, ask them if they have experience with that type mortgage?

This is very important as many loan officers may be good at originating Conventional mortgages but might have limited experience originating FHA mortgages. There are many examples I could sight here, but I will expand on this in future articles.

Mortgage shopping can be difficult enough, make it easier by focusing on shopping for a good loan officer. A good loan officer would not work for a lender that does not offer competitive rates and closing cost. A good loan officer will increase your chances of having a hassle free experience, and get you to the closing table in a timely manner.

The credentials of a loan officer are important, so you need to learn what those are. Are they skilled at evaluating tax returns? Are they Tech savvy? Today’s loan officer needs to be well adept at the technical requirements of originating a mortgage. The software systems (LOS) that lenders use are more complex today than they ever have been. If they’re not good at managing this aspect and being good at multitasking, you will not get the service you deserve. Again, there is much to write about on this area and I will expand on this in future articles.

A good loan processor is also very important. Most likely you will be working directly with the processor in completing the process and satisfying any and all conditions prior to closing. So ask the loan officer about his or hers processor. How long have they been working with that processor? A good working relationship between the loan officer and processor can make everything go more smoothly. Remember time is money and your mortgage rate lock is only good if you close your mortgage within the rate lock period.

In summary, finding a good loan officer can make your mortgage experience a much better one. Interview potential loan officers and make this your focus. Everything else will fall into place if you do this. I’ll drill down more into the various aspects of a good loan officer in future articles.

David Mully has been in the mortgage industry for 26 yrs. He writes for a social media company and a national consumer mortgage website: www.mortgageloan.com/contributors . He is the President and CEO of Lender Insider, a consulting firm. He has formerly worked as a mortgage loan officer for several years as well as in the B2B sector of the mortgage industry. He formerly wrote a column in several newspapers and online for 6 yrs. titled “Mortgage Search”. His Blog can be accessed on his website: lenderInsider.com. David’s direct ph: 248.767.1950 or email: dave@lenderinisder.com

Real Estate Business Texting Software Platform

Real Estate offices embrace new business texting software platform. This is a Software Platform that is a must have for every Real Estate office. Realtors will be happy their company has this service.

Office Staff can text from their computers and not use their personal cell phones for texting.

Phone calls, voice mails, emails and website communications are slower. Send Lock Box codes, schedule showings with a quick text from computers. Text messages are read faster and more convenient.

Log in from any computer. Away from your computer? No problem the Mobile App keeps you connected 24/7.

Receive text messages on computers as well. New inquiries can text the office line if they prefer vs. calling. Millennials represent 50% of home buyers in 2017. A Lead Gen tool that will increase business. Change all office phone number listings to “Call or Text” to give customers the option if they prefer to text.

The Software Platform saves and tracks all text conversations for convenient accessing in the future.

Improves customer service and communications. Office Staff will enjoy using these easy to use software tools.

There are many other ways this Software Platform can benefit Real Estate offices. Customer follow up with CRM integration is one of the many other benefits and advantages.

The monthly cost per office is minimal compared to the vast advantages and benefits. This really is a must have service in today’s texting world.

Contact us to Schedule a Demo and learn more or contact me with any questions. Call or Text Dave @ 248.767.1950 or email: dave@lenderinsider.com

Good Faith Estimate (GFE), Truth-in-Lending (TIL) and HUD-1 form changes

The mortgage industry is making big changes again. In an effort to help Consumers better understand the key features, cost and risks of the mortgage loan for which they are applying, the disclosure forms are being revamped.

These changes titled the TILA-RESPA rule are effective as of August 1, 2015.

You can read more about this on the the Consumer Financial Protection Bureau (CFPB) website: www.consumerfinance.gov/regulatory-implementation/tila-respa/

Below are a few excerpts from the Consumer Financial Protection Bureau website:

“First, the Good Faith Estimate (GFE) and the initial Truth-in-Lending disclosure (initial TIL) have been combined into a new form, the Loan Estimate (LE). Similar to those forms, the new Loan Estimate (LE) form is designed to provide disclosures that will be helpful to consumers in understanding the key features, costs, and risks of the mortgage loan for which they are applying, and must be provided to consumers no later than the third business day after they submit a loan application. Second, the HUD-1 and final Truth-in-Lending disclosure (final TIL and, together with the initial TIL, the Truth-in-Lending forms) have been combined into another new form, the Closing Disclosure (CD), which is designed to provide disclosures that will be helpful to consumers in understanding all of the costs of the transaction. This form must be provided to consumers at least three business days before consummation of the loan.”

“The forms use clear language and design to make it easier for consumers to locate key information, such as interest rate, monthly payments, and costs to close the loan. The forms also provide more information to help consumers decide whether they can afford the loan and to facilitate comparison of the cost of different loan offers, including the cost of the loans over time.”

Hopefully these changes will help ease the confusion of the old disclosures.

David Mully has been in the mortgage industry for 26 yrs. He writes for a national mortgage website: www.mortgageloan.com/contributors and is the President and CEO of Lender Insider. He formerly worked as a mortgage loan officer for several years as well as in the business-to-business sector of the mortgage industry. He also wrote a column in several newspapers and online for more than 6 yrs. titled “Mortgage Search”. His Blog can be accessed on his website:lenderInsider.com

Big changes coming for mortgage industry effective Aug 1st, 2015

New mortgage disclosures coming soon. TILA-RESPA changes effective Aug 1st, 2015:

http://www.consumerfinance.gov/regulatory-implementation/tila-respa/

This will affect Consumers, Real Estate companies and Title companies. For consumers at least, it will be a positive change. One large aspect of this change is that Consumers will now be able to view their HUD closing statement 3 days in advance, instead of sometimes receiving the HUD statement at the last minute.

Good article on the next generation of mortgage loan officers

I found this article to be very good. It is what I have been saying the last few years on how the loan officer job has changed and the challenges they face:

http://www.nationalmortgagenews.com/news/origination/recruiting-the-next-generation-of-loan-officers-1042981-1.html

David Mully has been in the mortgage industry for 26 yrs. He is the President and CEO of Lender Insider. He has formerly worked as a mortgage loan officer for several years as well as in the B2B sector of the mortgage industry. He formerly wrote a column in several newspapers and online for 6 yrs. titled “Mortgage Search”. His Blog can be accessed on his website: lenderInsider.com