Tag Archives: Non Agency

Mortgage Originators

Thursdays Thoughts – Niches are the game!

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#ThursdaysThoughts – #Niches are the Game!  #GetOnPoint with #BluePointMtg I’ve been talking to a lot of people recently that have asked, what are your “niches” what do you do that’s different?  We are a true wholesale lender for #MortgageBrokers and our core business is #Niche loans.  FHA/VA/CONV we do and consists of 70% of our business! Remember VA and Conventional loans can go LP (Freddie) instead of Fannie (DU)!  Many seem to forget that.

Besides Home Possible, Home One, CALHFA (FHA), and manually underwritten loans we have many other options.  Including MI types, I talk in today’s video briefly on the types of delegated MI we have.  203H, is mentioned, and Reverse and Non-Agency loans! From a lender view we give our partners options to go borrower paid, or lender paid, to disclose on your own, or offer to disclose for you, and even change your comp monthly as needed.  #StayCompetitive

My thing is to help LO’s get paid! We all love loans, but like the payday the best I bet.  So if you’re in the same boat, and want a SPEED AND SERVICE NICHE LENDER in your arsenal!  Let’s chat Loans!  As I always say, I ♥ “I gotta guy” questions! 🙂

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As Always –

#SellWell

Mortgage guidelines, Mortgage Originators

Weekend Call to Action – Delayed Financing Exception!

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#WeekendCalltoAction – Delayed financing exception needed for cash out to do improvements on a new home!?  – Well if your client bought a home CASH in the last 6 months and wants to pull cash out – now’s the time! My advice is to call all the title reps and agents you’ve had the pleasure to deal with in the last 60 days on purchases.  See if they can give you a warm referral to a cash buyer you didn’t know about.  (They didn’t need a loan then)

What I know, is when people move into a new house to them, they always want to do something.  Change the bathroom, paint the walls, add a shed etc.  If you do a polite “quality assurance” call to follow up on behalf of the RE Agent, and just ask if they are in need to obtain some equity now, it could be your win!  Of course talk up the RE Agent or Title rep that referred you and ask for reviews for them.  It’s a great way to add value to your partners and source new business at the same time.  I go over the guidelines below:

The delayed financing exception can be done very often on both Fannie Mae’s side and the Non-Agency side of things.  So reach out we have 9 different options under the Non-Agency umbrella that could help too!  #LetsDoBusiness – Get on Point with #BluePoint – CLICK HERE!

As Always – #SellWell

Mortgage guidelines, Mortgage Originators

Thursdays Thoughts – DSCR / NIVA loans and how they work!

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#ThursdaysThoughts – Debt Service Coverage Ratio loans (NIVA) and how they work! Today is another edition of Non-Agency tid bits of guidelines as I’ve been doing all week.  This loan is POWERFUL!  And a great way to source new business with a past client you might have.

What I would do, is look at all your past clients that already own 1 rental property and call them today.  See if they considered expanding their portfolio at all to gain a new investment property.  With value’s being steady across the Nation and rates rising (gently) this year, NOW’S THE TIME! These loans are great and allow someone to buy a new investment property without a lot of hassle.  No income is on the loan.  Especially if they live in an area where the rents compared to the PITIA would be more significantly.

I’m here to help you gain clarity, prescreen these “creative” loans and get them done.  WITH THE SAME SERVICE you offer your “Agency” clients.  In the first month #GetOnPoint at #BluePoint I’ve watched Non-Agency loans gain approvals and get conditions signed off in 24 hours (or less).  We truly are a broker’s partner for Non-Agency loans and why I highlighted the 9 different programs we have this week.

Check out BluePoint’s product mix here —-> PRODUCT MIX –

Let’s have your team get on point with #BluePoint too! I’m in the office helping loans get structured daily.  Why not you! 🙂

As always – #SellWell

 

Mortgage guidelines, Mortgage Originators

Whacked Out / Wonderful Wednesday – Happy 1st of the month!

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#WhackedOutWonderfulWednesday – Happy 1st of the month! – I personally ♥ long processing months.  Means more chance to close loans.  As we all (*anyone in the mtg industry) gets ready to turn in your goals for the month – #WonderfulWednesday – I wanted to continue on the weeks theme of Non-Agency loans and add some additional wisdom on “doc types”.  The #WhackedOutWednesday part is the bank statement loans.  And what seems to be the loan that falls out the most.  However, doesn’t need to be.  It’s all about how the 1003 is put together, and I go over just that on today’s episode as I describe the different types of file doc types Non-Agency/Non-Qm loans have.

Bonus, since I didn’t make a decision in advance, I combined the wonderful and the whacked out part together.  🙂 Happy hunting in a long month!  I’m here to help you #GetOnPoint with #BluePoint! #LetsDoBusiness ↓

Hope you enjoyed the #LunchNLearn today! Here’s the link to subscribe to rates daily.  – Daily Rates –

I’m in the office to help you structure these loans.  Happy 1st of the month!  Who needs a Non-Agency same month closing?

As Always

#SellWell

Mortgage guidelines, Mortgage Originators

Two for Tuesday – Non-Agency Tid Bits

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#TwoforTuesday – Non-Agency tid bits all week.  Today’s is full of two great guidelines to know.  You do have products to make things work out for your more credit worthy clients.  Sometimes, “stuff happens” and there’s events that make your clients wait under traditional mortgages.

Bankruptcy, foreclosure, short sale, deed in lieu all are trigger events in most cases.  We have over 9 different options that can offer your clients options!  ↓

♥ Today, text Juiceman to 33655 and check out options you can have yourself.  I’m in the office wrapping up the month, and making impact to pipelines, why not yours!?

As always

#SellWell

Mortgage guidelines, Mortgage Originators

Mondays Motivation – Non-Agency Tid Bits

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#MondaysMotivation – Non-Agency tid bits of guidelines this week.  Non-Agency has a better ring to it than Non-Qm, and some may have a negative cogitation to the word.  However, more than 50% of all Non-Agency loans are in fact full doc.  While we boost bank statement loans, and you see investor options coming out, the important thing to remember is great options for your borrowers.

Weather self employed, or just had some event happen in the past that shouldn’t prevent a qualified borrower otherwise to have to wait 2, 3, 4 or even 7 years to buy a home.   Non Agency guidelines help make dreams come true.  Get on point with BluePoint here – CLICK HERE! We have 9 different non-agency options that you can add to your product mix!

Great guidelines to know, and a way to “make the loan happen” when reserves or a gift is needed.  There are plenty of good loans in the non-agency arena and these are just some tid bits (Guidelines) I’ll go over this week to help them shine.

As always – #SellWell