Wednesday, May 22, 2013

Lenders, Now Is the Time!

If your clients are looking to refinance or buy a home here are some tips to get them moving! My Rate Mailer helps lenders like you get your clients "moving" on their mortgage! My Rate Mailer uses online mortgage marketing to help lenders get the most out of this years housing boom. My Rate Mailer is the best way to gain a clients trust. Your mailer will help to close more loans by using constant and effective communication. With your mailer on the top of their inbox daily, your clients will be informed, and feel they are able to communicate with you openly. NOW is the time to buy, don't fall behind, make sure your clients know you are their go-to lender!

Sign up for My Rate Mailer today and get your online mortgage marketing plan in action TODAY!

Buyers, get moving

With rates near the bottom and home prices on the rise, it's still a perfect time to buy a house. If you can afford a home and qualify for a mortgage, this may be your last chance to take advantage of the market and own a home for less. To speed up the homebuying process, get a mortgage preapproval before you start shopping.

Ensure that your credit is golden

Credit standards remain tight. As new mortgage rules are unveiled in 2013, the standards are not expected to loosen. If you plan to get a mortgage anytime soon, you must treat your credit as one of your most valuable assets. Most lenders want to see a spotless credit history of at least a year on your credit report. You'll need a credit score of at least 720 to get the best rate. Borrowers with a credit score of 680 or more can still get a good deal, but the lower your score, the harder it will be to get approved.

Want to pay off your mortgage earlier?

If you are one of those homeowners who dream about being mortgage-free, the low-rate environment may be a good opportunity to refinance your 30-year mortgage into a 15- or 20-year loan. But make sure you can really afford the slightly higher payments on the shorter loan and that you have some money saved for emergencies.

Tuesday, May 14, 2013

Mortgage Tips for 2013

Whether your clients are looking to refinance or buy a home, 2013 is the time to do so! Using online mortgage marketing is the best way to take advantage of the housing boom of 2013. Potential buyers are looking for loan officers they can put their trust into. My Rate Mailer is the best way to gain a clients trust and business. With your mailer on the top of their inbox daily, your clients will be informed, and feel they are able to communicate with you effectively. 2013 is the time to buy, make sure you are the go-to lender for your clients! Sign up for My Rate Mailer today and get your online mortgage marketing plan in action TODAY!

Top Tips for Buyers in 2013

Stop procrastinating and refinance

If you haven't refinanced recently, you're probably paying a higher interest rate on your mortgage than you should. Take advantage of today's record-low mortgage rates while they last. Rates are expected to remain low during the first few months of the year, but they should gradually increase. When they do, many borrowers will regret having missed the opportunity to grab the lowestmortgage rate in history.

Give your lender a chance

If you have trouble paying your mortgage, don't ignore your mortgage servicer. There are new programs available for borrowers who struggle to keep up with their mortgage payments, including forbearance for those with FHA mortgages. Lenders have been more willing to work out delinquent loans through loan modifications and even short sales for homeowners who can't afford to stay in their homes. It can be a frustrating process to deal with your lender, but communication is still your best tool.

Shop for a low rate and good service

Even with rates hovering near record lows, you should still shop for the best mortgage deal. Get quotes from at least three lenders and compare not just the interest rate but closing costs and the quality of their service. Favor lenders that have a reputation of closing on time. Start with referrals from friends and relatives when shopping for a lender and read online reviews from other borrowers about the particular lender or mortgage broker you are considering.

Monday, May 6, 2013

More or Less Trust in Loan Officers?

Mortgage news has been buzzing recently with tales of distrust: The US Government vs Bank of America, the US Government vs Wells Fargo, the US Government to pass mortgage reforms through the house, Obama appoints new Mortgage-Finance Regulator. These headlines have been sending the wrong messages to the population, should they trust the mortgage market, why is there so much reform happening NOW, are these reforms in the best interest of the people or another ploy to get mortgages into the hands of buyers who are likely to default? How can you as a loan officer be trusted when the headlines are sending messages of distrust to buyers? My Rate Mailer is a service designed to gain your clients trust. Our personalized mailer is the perfect online mortgage marketing tool, used to send your rates out as frequently as desired, opening the lines of communication and establishing trust with your buyers. Your clients want to be informed and feel as though they are being given the attention they deserve and require. During these times of uncertainty,My Rate Mailer gives clients a peace of mind knowing they are being informed about the best loan rates at the most crucial of times.

Mortgage settlement violations persist in California, group says

NEW YORK -- Violations of a landmark mortgage settlement alleged by New York's attorney general are also widespread in California, a housing advocacy group says.

“Banks aren’t doing what they’re supposed to be doing to help people stay in their homes,” said Kevin Stein, associate director of the California Reinvestment Coalition, a San Francisco-based group that lobbies for low-income Californians. 

New York Atty. Gen. Eric Schneiderman announced Monday he planned to sue Wells Fargo and Bank of America for "flagrantly" violating terms of last year's $25 billion National Mortgage Settlement.

The enforcement action would mark the first time a state's attorney general has cracked the whip on any of the five servicers that signed the settlement. In addition to BofA and Wells Fargo, JPMorgan Chase & Co., Citigroup Inc. and Ally Financial Inc. were parties to the agreement.

The settlement put in place 304 standards for mortgage servicing aimed at helping smooth the process by which homeowners can get modifications to their mortgages and prevent foreclosures.

The standards prohibit so-called "dual tracking," the practice of foreclosing even while homeowners seek a loan modification. The standards require each customer to get a single point of contact, and also mandate timelines for responses to customers seeking assistance. “There's a lot of frustration that we don’t see compliance with the agreement and we don’t see better outcomes for homeowners who are trying to stay in their homes and for communities that are trying to stabilize," Stein said Monday.

Last  month, the California Reinvestment Coalition released a survey of housing counselors and lawyers that found mortgage servicers were not living up to terms of the settlement.

(news article originally posted on LA Times.)

Thursday, May 2, 2013

15-Year Mortgage Rate Hit Record Low - Do Your Clients Know?

In a report by CNN today, 15 year mortgage rates hit a record low today. With My Rate Mailer your rates are sent out to ALL of your clients as soon as they are updated! My Rate Mailer is the most effective online mortgage marketing tool for lenders, loan officers, and mortgage brokers! Ask yourself this simple question: How many more deals would you close if you were the first rate your clients saw every day, knowing they could depend on you for constant and effective communication? Sign up for your free trial today and get your low rates out TODAY!