Tag Archives: Loan Officer

Mortgage guidelines, Mortgage Originators

Whacked Out Wednesday – The rule of 5! (FHA effective income guidelines)

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#WhackedOutWednesday – The rule of 5 I go over today.  The way’s to use the various forms of income and what’s considered effective income and what’s not.  The “whacked out” part is that many LO’s don’t know how to calculate effective income.  The salary is the salary, the hourly income can vary.  And if it does there’s a rule I go over for this.  The VOE is king.  The paychecks are a supporting document, not what determines income.

The biggest thought is that you need two years for all of the 5 type of incomes.  Bonus, Over-Time, Commission, Self-Employment and Second jobs.  When in reality there’s only one of these that you really need a full two year uninterrupted period of receiving.  Find out more in today’s video! ↓

We go by the guidelines and I’m here to help you structure these deals to get them done.  The rule of 5 is great to know, and every LO out there should know how to calculate the effective income.  To many times there’s just some snag somewhere that the LO didn’t realize.  My goal is to eliminate that with these guideline videos and help all get more loans done.  In fact I encourage you to get on point, with BluePoint! We are a growing National wholesale mortgage bank, we are broker friendly and have several niche’ products.  FHA/VA are for sure sweet spots.  SIGN UP HERE! 

As always I’m here for any – “I gotta guy” questions.

#SellWell

Mortgage guidelines, Mortgage Originators

Two for Tuesday – Guideline Week (FHA)

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#TwoforTuesday – I ♥ guidelines and will always use them as a tool to help my clients get to the end goal – close more loans! That’s what they’re there for.  To help us.  Might as well point out one’s I see missed or not understood by the masses right.  It’s my value point for you.  It’s where I can shine to help you structure a deal right to begin with.  Today I go over two FHA guidelines that are commonly asked as questions.  Seasonal income and how to use it.  As well as departing primary income and rental income calculation.

It’s important to align your Brokerage with Lenders that can help you with guidelines and do not have many overlays.  That’s the point, to help you get on POINT.  With BLUEPOINT! CLICK HERE and complete the broker package today! We are a Broker Friendly lender growing all over the nation.  Let’s do business! With strong pricing on FHA/VA and the 9 different non-qm options we are poised to make impact where other lenders may not specialize.  That’s our “niche'”.

Guidelines are apart of our everyday role as AE’s and wholesale Lender reps, we have LO’s and Broker’s asking us questions all day.  We can gain answers straight from the source (Underwriting) and help you structure your loans to actually close.  This is the difference making we make at BluePoint.  Don’t get stuck with loans you can’t close.  Get on point with BluePoint today!

#SellWell

Mortgage guidelines, Mortgage Originators

Monday’s Motivation – Guideline Week!

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#MondaysMotivation – Guideline week, I ♥ guidelines!  Knowledge is value that dollars follow.  I suggest anyone in the craft of originating loans learn to create value by studying the guidelines of various programs.  To be able to recite the guidelines you know when you need them, or at the least be able to look them up at your fingertips.

No matter what, knowing the guidelines is what can help you structure the loans the right way and experience less issues.  Today I start the week off with two simple but missed guidelines quite often.  If you balance a file correctly at the beginning you can pick to not finance the UFMIP and use the credit associated with the file to cover it.  Same with business debts, knowing what to gain and how they must be portrayed to exclude from DTI is power.  Structure FHA loans to win.  I’m in for any “I gotta guy” question this week.  Contact me on Facebook here!

If you’re not signed up with #BluePoint we are here to help you #GetOnPoint!

CLICK HERE – And let’s do business!  We ♥ FHA loans and go by the guidelines.  We have one overlay basically.  That’s the fact we only allow as low as 550 FICO.  Remember 550-579 FICO would be 10% down or 90% LTV anyway.  We allow manuals and would refer to the handbook 4000.1 for guidelines.  If you want to have access to the newest version on the 4000.1 – feel free to CLICK HERE!

As Always #SellWell

 

Mortgage Originators

Weekend Call to Action – Invest in Yourself

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#WeekendCalltoAction – I ♥ training day! Invest in yourself and do one of these training’s that can impact your business!  Today I wrap up the #JUICYList!!  Join Us In Creating Yes’s to tools and training’s and companies that can help you grow your pipeline.  That’s why I made this.  To help the Mortgage Broker’s I serve do more business and ultimately do more business with us! #GetOnPoint with BluePoint here!

Today I highlight 4 different training’s that can help a LO/Broker #LevelUp!  The weekend Call to action is simple, invest in yourself – Do something to learn to do more business!  This is how the best of the best LO’s increase year over year!

The first is of course my #TheBluePrint training.  It helps you with gaining more #Relevancy #Reach and #Results when creating FB marketing campaigns.

CLICK HERE FOR THE BLUEPRINT!

The second is where it all started for me, training’s to help salesman ship and online knowledge of funnel advertising.  It’s #BFE and #ShowUpandClose – These were the foundation that helped me create the mortgage juicman dot com to begin with.

CLICK HERE FOR SHOW UP AND CLOSE SALES TRAINING

Third is a great training that teaches you how to segment when advertising.  And what better product to segment than #VALoans.  The best loan out there.  MMBC – Military Mortgage BootCamp is a training that teaches marketing and product knowledge.

CLICK HERE FOR MILITARY MORTGAGE BOOTCAMP 

And one of the best for last, a complete systems, product, sales, workshop style training that takes LO’s to the #NextLevel!  Next Level LO is a great training to accompany anyone’s want to dominate their local market!

CLICK HERE FOR NEXT LEVEL LO 

I hope you saw something this week from the #JUICYList that can help you grow your business.  Feel free to reach out anytime to me directly.  DM me on Facebook will get you the fastest response.  #SellWell or should I say #TrainWell ♥

 

 

Mortgage Originators

Thursdays Thoughts – Boost your 2018! Get JUICY!

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#ThursdaysThoughts – Boost your 2018 – Join Us In Creating Yes’s for your pipeline.  Lunch N Learn – All week we’ve been going over tools and companies that you can use to help you increase your business.  Today’s highlight to the JUICY List is Listing Booster!  A great tool to help LO’s and Broker’s increase exposure on their BIGGEST referral partner’s listings! RE Agents – If you use strategy to grow your referral partnerships, this is one huge tool for the belt! And a great way to expand your relationships by adding “boosting” value!

In growing a network of business partners I’ve always looked to add value to my partnerships in a similar way.  By helping LO’s with ideas to source new business.  I am expanding across the Nation and would love to partner with you (A mortgage Broker)!  #LetsDoBusiness – Get on point with BLUEPOINT MORTGAGE! With over 9 different Non-QM loans and a great niche on Government business.  We can help you close more loans – CLICK HERE! 

Listing Booster is a great resource to help LO’s build a pillar partner network of RE Agents and really add value to them.  An irreplaceable service that every LO should have.  CLICK HERE – And schedule a time to get a walk through.

booster

#SellWell

Mortgage Originators

Wonderful Wednesday – Happy National Mortgage Broker Day!

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#WonderfulWednesday – I ♥ serving mortgage brokers! Happy National Mortgage Broker Day!   – For almost a decade now I’ve been serving mortgage brokers to help them close more loans, and the relationships I’ve developed are #Priceless!  It’s great to help a broker increase business and help them close more loans with options.  In fact, I have 9 different Non-QM loan options and can serve FHA/VA loans down to 550 FICO now.  Let’s connect and work together to help you close more loans, CLICK HERE!

Join Us In Creating Yes’s for your Pipeline all week I’ve been highlighting companies and tools that help mortgage brokers grow their business.  Today’s video and blog is filled with three different ones.  While they serve the same function, each one is slightly different in what they do and I see they compliment each other more than anything.

  1. Lead Pops – A great templated landing page with some customization that allows you to gain leads.
  2. ClickFunnels – The most advanced landing page builder with ton’s of functions.  You can embed just about anything and my advice is that your also the creative type.
  3. Phonesites – The newest of the three and designed to be for those not tech savvy but want ease of use and simple to create custom landing pages.

As always #SellWell

Mortgage Originators

Two for Tuesday – Two JUICY Tools!

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#TwoforTuesday – Get JUICY all week.  Join Us In Creating Excitement for LO and Broker company tools that can help you grow your business.  This week I go over and highlight the best tools for mortgage pro’s!   Today is no exception and have two very JUICY tools.  Join Us in Creating Yes’s for your pipeline.

The first is noted as the way to Retain Your Clients big time.  In wholesale you do need to know whom is BRAWL friendly and whom is not.  But regardless of whom collects the payment from your past clients you should be setting yourself up to be a LENDER FOR LIFE!  Get notified when your past clients are searching for a mortgage.  Have marketing letters go out with your picture and logo on it to remind the client! Get Retaining your clients today, with RETAIN YOUR CLIENT!

The second tool is a necessity.  While a lot of marketing is always a good thing, landing pages and good websites to use as a redirection in an funnel are needed.  You know after your thank you page it redirects to a website that’s compliant, has privacy notices, mortgage calculators and other tools for your clients/prospects to access.  Get a LENDER HOME PAGE that can help you have an online presence.

I’m here to help you grow your pipeline and help you close loans.  If you’re in need of a lender that can help you where others have overlays, I have got the answer.  Get on point with BLUEPOINT today! Fill out a Broker Package and let’s truly partner with one another.  Through the use of tools and ease of use to work with, we’ll help you get on point with your files.  #SellWell

 

Mortgage Originators

Mondays Motivation – Get JUICY all week!

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#MondaysMotivation – Join Us In Creating Yes’s all week long.  This week I will talk about tools that help my Broker Partners grow their business.  As part of my career in Wholesale Mortgage’s, as a lender rep, I always looked to add value to my Broker Partners to help them grow their company.

Over the years, I endorse or helped others with use of certain tools.  Weather it be a website, or a way to build a list, a CRM, or a mobile application.  Credit repair or ways to retain your clients.  I looked to give recommendations to my LO’s to help them do more loans.  And in the process help them close some of those deals! #GetOnPoint!

Get on Point with #BluePointMortgage! – We are a great up and coming wholesale lender that is focused on niche’s to help Broker’s grow their pipelines.  We have over 9 different programs on Non-QM and we love government loans.  Yes our pricing is fantastic on Conventional as well, feel free to price us out on any program!  FHA/VA down to 550 FICO and our Non-QM rates are rock solid.  CLICK HERE If you want to price a Non-QM loan please reach out, I will do that for you personally.  Otherwise, get on point with BluePoint here! And get a copy of #PERFECTLO for yourself, you will take better applications that way!Click here to schedule a webinar/free trial Let’s partner together to get more done!

As Always – #SellWell

Mortgage guidelines, Mortgage Originators

Two for Tuesday – Lessor of the Two!

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#TwoforTuesday – Non-QM loans are fantastic.  And pricing is ON POINT! But what LO’s need to remember is as you structure these bank statement loans, you get the lessor of the two!  The lessor of the 1003 input value or the bank statement calculation once the underwriter is done analyzing them!

I give a great example in today’s video on how to avoid the pitfalls of this.  Make sure you do your own due diligence to the bank statements before you hand them in.  The 1003’s value of what income you use is set in stone at submission.  And never can go up, only down.  You get to use the “lessor of the two” when it comes to Non-QM.  #KnowThis

Non-Qm is definitely here to stay, and has a great function to lending now days.  If you’re not doing at least one of these per month, you’re missing out on opportunity.  Did you meet NIVA, NINA’s smarter sister?  🙂   These investor loans are fantastic and the opportunity to help investors expand their portfolio is fantastic.  With full doc, shorter times for waiting periods, investor loans, bank statement loans and more, NON-QM is a great product to start utilizing if you’re not.  It’s a great way to create options for your borrowers!  Get on POINT HERE!

NIVA

 

Mortgage Originators

Monday’s Motivation – Create Urgency!

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#MondaysMotivation – Create urgency with your clients, now’s the time! Think about it, since Trump has been in office things have been “going well”! Stocks are up, unemployment is down, and the overall economy is booming again in the US of A! Explain this to your clients, while there are a bunch of things that affect “rates”, the predominant thing is the overall look of the health of our country.  And we’re kickin it in high gear across the Nation.

While there are other factors, such as the government buying less bonds, the trade issues with other countries that could “affect” business.  The general consensus is that appreciation is happening, inflation is taking place, and rates are going up! What’s that mean?  Well – If you wait to buy a home, the amount of home you will “qualify” for will be less in the future than it is now.  Rates are going to go up, and home values are going to go up.  Use this information to help borrower’s or prospects get off the fence.  Now’s the time to create URGENCY within your business.

Creating URGENCY is best done with a limited amount of “TIME” or limited amount of quantity.  Well in the case of homes this year you actually HAVE BOTH!  Use this to help drive business today!

And while your at it, partner with a Lender that can help  you #GetonPoint with your transactions.  Don’t get stuck with loans you can’t close.  Let’s help you create options for your borrowers – CLICK HERE!

As Always #SellWell