#TwoforTuesday – It’s Guideline Day on our regularly scheduled program! Two guides today I share from recent scenarios and asks from #MortgageBrokers. One from Conventional and one from FHA. I ♥ “I gotta guy” questions and scenarios or guidelines that need to be clarified or answered. Reach out with your next scenario, as I’d like to help. My goal is to help you get paid! Email Me
Short and sweet, right at 3 minutes to help! #GetOnPoint today with #BluePointMtg. We’re growing and helping more and more loans close daily, #LetsDoBusiness!
Price BluePoint Mtg out on your next deal! #SellWell —> QUICK PRICER
#TwoforTuesday – #GuidelineWeek – This week, I go over some of the most commonly asked questions. Today I review conventional LTV limits, and funny enough I get an email last night asking for the LTV on a REFI for an investment property. The conventional limits, and non-agency limits on LTV /FICO are on matrices openly published and can be accessed WITHOUT a password.
Want to see them? – CLICK HERE! In today’s show I go over Bankruptcy and Foreclosure guidelines for you all on conventional loans. When it comes to “Non-Agency” the guidelines are driven highly by FICO, but comparing the Fannie Mae matrix versus non-qm, you can see a 5% increase in most buckets for LTV. Answering my Broker’s question, 75% LTV refi on Conventional, and with a high enough FICO up to 80% LTV refi on non-agency for investment property Rate and Term transactions. ↓
Ton’s more #JUICE all week long. Tomorrow we’ll visit FHA guides more and I’ll alternate products all week to get the important “most frequently asked questions” out of the way. I ♥ “I gotta guy” questions and can’t wait to help you with your most recent scenario. 🙂
#MondaysMotivation – DU 10.3 is here! And Fannie Mae says “expect this change to yield a slight reduction in case files that receive approve/eligible findings”! Risk is being analyzed and DU is getting smarter! If your DTI is over 45, I’d suggest you have reserves in there prior to running it. Loan amounts were updated for FHA to follow suit of the conforming loan limit changes;
Conforming limits; 484,350 and High balance 726,525! FHA’s limits follow suit typically at 65% of the conforming limits, and that is; 314,827 and high balance 726,525 depending on county.
There was another great reference I want to mention in these changes on Friday last week, and that is FORM 1084! A self employed borrower income worksheet Fannie Mae has approved to working income calculations off of. I uploaded that form into the group, Sales Talk with Mortgage Pro’s! Feel free to check out the #Files tab to see all the cool cheats I have uploaded for you LO’s.
As always’ Let’s go – It’s Mondays Motivation – The Tragedy of Life doesn’t lie in NOT reaching your goal! The tragedy lies in having no goals to reach! I’m doing strategy sessions with new mortgage broker relationships to help create campaigns with Niche products! If you’re interested in creating goals and crushing them in 2019, let’s chat, CLICK HERE!
#WhackedOutWednesday – Is back and in full effect this am. WOW, I mean WOW, what goes through the mind of clients that think they can just deposit large sums of money in their bank account as you’re doing a purchase loan anyway? lol Today, I go over the guidelines on large deposits to clear the air, and help you know what to look out for. HINT – It has to do with what type of loan your doing! Not all deposits are considered equal. (large)
Don’t be fooled, while I add a lot of value to my Broker partners, and can help them source business, I AM STILL LOOKING FOR ACTION TAKERS! I am not at my goal monthly and want to help as many mortgage Broker’s as I can. Sometimes I think people might think I’m swimming in business and don’t need their loan because I do these videos and add so much value inside the groups and social media. That is not the case, I need and want to help as many people as I can. If you don’t have a responsive AE, or someone that can help you actually source business on top of close loans for you, CALL ME! – Let’s make it ring today, 304-901-2798 is my office line. Reach out don’t be shy, I might be able to help on that “I gotta guy” guideline question, or I can discuss with you marketing strategies to help you double your business. Either way, #LetsDoBusiness! – I am growing towards my goal daily, but I’m not stopping until I’m there!
The JUICEman! 