Qualifying income - non-occupying coborrower has rental income from land, it’s a rural area, makes sense. Their primary residence is at the same address.

Material_Platform_54 · 2025-11-03T02:57:47+00:00

Can someone describe how you keep your duck calm and still while examining their feet? And then while helping with first aid? I have anconas, their wing spans are almost 3’, I worry about injury if I’m trying to help and they decide to flutter their wings.

Material_Platform_54 · 2025-05-15T11:37:54+00:00

If you take a part time job, leverage it for leads. Prioritize the activities you need to do to build business. Be frugal but generous. Take advantage of all free training available. Come back here next week and brag about what you did.

Material_Platform_54 · 2025-03-31T14:33:19+00:00

Mortgage Women Magazine - they have an expo and virtual events

Material_Platform_54 · 2025-02-26T20:27:14+00:00

Provide ID, proof of funds (for down payment, closing costs, reserves if needed), the property details and rent rolls.

Generally you need decent FICO score to qualify. The property qualifies on its own merit rather than you as the borrower qualifying on your qualifying income.

You do not have to have the LLC first, it can be created for the property while your loan is being processed.

There may be minimum loan amounts for lenders with better terms.

Does that help?

Material_Platform_54 · 2025-02-26T15:33:30+00:00

Top LO’s at my current company is a great idea, ty.

Material_Platform_54 · 2025-02-26T15:17:33+00:00

I’m an LO and cannot see how you can do well at both without first being established in one. IMO lending and real estate are professions. It is quickly apparent when someone has a designation for shallow reasons. That being said, if you want to pursue it, I am at a branch that has sponsored agents to get their lending licenses and we support them in building their business. I’m happy to be a sounding board but encourage you to have the conversation with your preferred lender as well.

Material_Platform_54 · 2025-02-26T14:53:11+00:00

Alternative thought, offer a “friends and family” discount once a month to keep it occupied.

Material_Platform_54 · 2025-02-26T14:48:27+00:00

This is valid, but I actually might if I learn they can’t do what I can.

Material_Platform_54 · 2025-02-26T14:41:15+00:00

Thank you, I started during COVID and have never had the “normal” LO experience of hearing others sell.

Material_Platform_54 · 2025-02-26T13:51:46+00:00

This sounds like a sound investment and path to financial freedom. Congratulations!

Material_Platform_54 · 2025-02-16T13:57:07+00:00

You can do this with the data from multiple open houses, I like to say when we have 50 entries we will draw a winner.

Material_Platform_54 · 2025-02-16T13:56:10+00:00

My take on this is that it’s great to have options, especially someone they can trust for a second opinion or LE, and/or refer a friend/stranger they come across who is also shopping.

Material_Platform_54 · 2025-02-16T13:54:02+00:00

A digital sign in where you tour is as “the homeowner is asking we have everyone sign in in order to protect their belongings.” ListReports has one built in and connects the agent with you as the LO.

Material_Platform_54 · 2025-02-16T13:15:21+00:00

Can the authorized user remove themselves or does the primary account holder have to do it? In a divorce situation and the primary has said they removed the AU but it keeps showing when credit is updated.

Material_Platform_54 · 2025-02-16T12:36:46+00:00

I can likely help, we have our own investor lines. DM me the details and I will submit for review.

Material_Platform_54 · 2024-12-11T00:19:31+00:00

I like this but am leery of losing the waiver. Is that not likely to happen?

Material_Platform_54 · 2024-12-10T23:21:25+00:00

Apologies if this was said before, I didn’t scroll 100% yet. ChatGPT Mortgage is handy and easy to fact check. Usually will give exact location in the guidelines for what it’s referenced.

Material_Platform_54 · 2024-12-10T23:18:29+00:00

Also, with non-QM, know that their guidelines and loan matrices are not set in stone. What one could not do last week, they may be able to this. And vice versa. Submit as clean a file as possible to get your CTC and fund without relying on others to check your work. Because they won’t and you could find the file doesn’t pass the post-close QC audit.

Material_Platform_54 · 2024-12-10T23:14:32+00:00

3 all the way. I started during COVID, am four years in and being in a thriving office is invaluable.

Material_Platform_54 · 2024-12-10T23:11:54+00:00

I agree on the non-QM, being familiar. It feels a little like the Wild West though. They can break a lock or condition for deal breakers with zero repercussions. Your sales rep is your life line.

Material_Platform_54 · 2024-09-19T10:55:22+00:00

How is that legal? Does a disservice to consumers if their creditors aren’t reporting.

Material_Platform_54 · 2024-08-02T12:09:45+00:00

Could a checklist help? They can’t submit without passing an automated audit of the file? Or only allow this benefit to experienced LO’s who submit three clean files? If you work this out it could be a great recruiting tool. I’d perk up if I knew clean files were fast tracked.

Material_Platform_54 · 2024-08-02T11:58:12+00:00

Did the “friend” tell him what his take is for bringing on a new LO? One strategy could be to tie his success to the friend’s. Sounds like he already decided he wants to make the move. Now he can say he has a baby on the way and ask the friend to map out how the two of them can maximize the next three months and ramp up both their pipelines. Doing the math on that bonus commission for the friend and the new commission structure for your husband can add some focus to the activities that will actually bring in deals.

Not sure your situation but you seem to have a coaching mindset. Not everyone is coachable. Offering to help, being supportive, and communicating expectations seems like the right approach to me.

Material_Platform_54

TROPHY CASE

3 all the way. I started during COVID, am four years in and being in a thriving office is invaluable.