March 9, 2010
In November, Congress extended and expanded the First-Time Home Buyer Tax Credit program to include a subset of “move-up” buyers — homeowners that have owned and lived in their home for 5 of the last 8 years. The credit ranges up to $8,000 per buyer. There’s now just 7 weeks left to take advantage. To be eligible, home buyers must be under contract for a new home no later than April 30, 2010, and must be closed no later than June 30, 2010.
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March 8, 2010
For those of us in the mortgage origination business in Texas, recent news from the Texas Department of Savings and Mortgage Lending (TDSML) might be a little worrisome.
The SAFE Act requires all residential mortgage loan originators (RMLOs) to submit a filing through the NMLS that will authorize NMLS to obtain a credit report on that [...]
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March 8, 2010
During the 70’s and early 80’s, banks dominated originations by carving out a whopping 80% of the retail loan applications. Brokers quickly picked up the slack and by the early 90’s the numbers reversed. The market, especially real estate investors, liked the idea of a personal mortgage broker who understood their goals scouring the landscape [...]
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March 8, 2010
Mortgage markets improved last week in low-volume trading.
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March 5, 2010
Fewer homes went under contract in January as the housing market continues to limp through the winter months. According to the National Association of Realtors®, the Pending Home Sales Index fell to its lowest level in 3 quarters this January. By contrast, in October 2009, the index had touched a 3-year high.
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March 4, 2010
Do you think people buy from features or benefits?
Time and time again the answer is always the same. BENEFITS! Why?
Because people want to know how they will benefit from using YOUR SERVICE for the biggest purchase of their lifetime.
Here’s an example on a smaller scale:
Take a ten-speed bike. Sure, it’s helpful knowing how [...]
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February 23, 2010
It’s amazing the number of new mortgage net branch companies that pop up every year only to close their doors a year or two later. Failure to make payroll or a government shut down is typically the cause. Why does this cycle exist and how can you avoid it?
A mortgage branch company is not [...]
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February 15, 2010
Leading mortgage retail branch provider Southwest Funding is proud to announce that Carolyn Clark has joined the Southwest team as Field Recruiter within the Business Development group. In her role, Clark will focus on seeking new mortgage branch office locations and expanding the company’s rapidly growing mortgage banking division.
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“We are very excited for the new [...]
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February 8, 2010
The overhaul of the mortgage industry by the government has changed the business models of many companies. Wholesale mortgage lenders fearful of their ability to survive in the near future are trying to become retail mortgage net branch companies over night by turning customers into employees.
Can they do it? Most will not be able to [...]
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February 2, 2010
Are you tired of paying for mortgage leads only to compete against every other mortgage broker on rate and fees? Stop wasting your time and money.
Mortgage branch opportunities with Southwest Funding open up new channels of business not available to most mortgage brokers. Have you heard of the Fannie Mae Homepath Loan? We offer it. [...]
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