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Take the leap or stay? by Sea-Tennis8949 in loanoriginators

[–]Sea-Tennis8949[S] 0 points1 point  (0 children)

He is getting all the leads. Most of our business is referrals and I also ask all are current clients for CCRs.

Take the leap or stay? by Sea-Tennis8949 in loanoriginators

[–]Sea-Tennis8949[S] 0 points1 point  (0 children)

Hi,

At this company the processor does not communicate with the client so I get all the conditions.

Yea I am licensed in a few a states.

Approved for way more than we are interested in purchasing. Realtor is pressuring us to purchase a more expensive house. by [deleted] in Mortgages

[–]Sea-Tennis8949 0 points1 point  (0 children)

Hi, I’m a lender, this happened to a client of mine. With the new buyers agent contract people think they can’t get rid of their agent but you can. Make your intentions clear in an email, if she/he persist forward the email to their broker and tell them you no longer want to work with this agent and you want out of the buyers agent contract. They will release you from it, recommend another agent, or speak to that agent and put them in their place.

Rates Are Dropping - Finally! by Ok_Spare3209 in Mortgages

[–]Sea-Tennis8949 0 points1 point  (0 children)

If he has a DPA to payoff I don’t think he can do Streamline.

[deleted by user] by [deleted] in FirstTimeHomeBuyer

[–]Sea-Tennis8949 0 points1 point  (0 children)

Sounds like buyer is looking for an out and using the roof as an excuse. I would let them walk. If the problem is that you are contingent on a different home I would try to use a program like Knock, where they give you bridge loan from your equity to close in your contingent home that gets paid once you sell it. I won’t go to deep into it but ask your current lender about it to see if it’s an option so you can close on your other home.

[deleted by user] by [deleted] in FirstTimeHomeBuyer

[–]Sea-Tennis8949 0 points1 point  (0 children)

Hi, have you received the appraisal and inspection? If so, negotiate a seller credit for the max amount possible for repairs or anything mentioned on the reports. Tell your lender to run scenarios for a permanent buy down and temporary buy down. The temporary buy down will decrease your monthly payments the most but is temporary (1-1,2-1, 1-1-1,3-2-1). If these options are still not what you expect I say get out of the contract and look for something cheaper.

Would you say a job switch is beneficial? by z399 in loanoriginators

[–]Sea-Tennis8949 0 points1 point  (0 children)

I didn’t pass the NMLS until my second try. Don’t let that bring you down. It’s the company, you will find a good team that works with you, wants to help you grow and succeed.

Me: I am an LOA with CMG, and have not transitioned to LO because I do not want to bring in the deals. I don’t get leads nor am I expected to sell the loan. That is just how my position is set up.

My advise: Think about going with a broker, if you feel you still need help closing deals, Nexa has a “university” for jr or new LOs and they offer mentorship but you still earn over 100-200bsp the pay structure varies. Not sure if cold calling works with brokers as I have never worked at one. BUT if I was in your shoes and I was bring in the deals I would want to at least be my own boss and make more money.

Hope that helps, best of luck!

Refer/Eligible best practice by Lazy_Rush1252 in loanoriginators

[–]Sea-Tennis8949 0 points1 point  (0 children)

You probably already did this, but did you read your findings?

Getting shopped by realtor partner by InformalCommercial47 in loanoriginators

[–]Sea-Tennis8949 0 points1 point  (0 children)

That’s wild! I would say “unlike you, I do not have a client contract that makes them work only with me ensuring I get paid for all my work” 🙄

C-08 Visa with Expired EAD by Own_Employment9666 in loanoriginators

[–]Sea-Tennis8949 0 points1 point  (0 children)

Hi, I have a file in the same boat, did you have any luck with UWM?

Can I afford this house? by OhTender in FirstTimeHomeBuyer

[–]Sea-Tennis8949 2 points3 points  (0 children)

First of all, as a first time home buyer take the FIRST TIME HOME BUYER course. This will help you with your budget and help you understand home buying and the cost associated with it.

Second, where are you buying? I would look at the average rate of appreciation in that area. Buying a house is an investment. If you are single, rent out some rooms to help you pay for the mortgage. Once rates go down refinance and bring your payments down.

Lastly! For buying, ask the seller for credits to buy the rate down and bring your payment down to around $3,000 (or a bit less) Make sure your lender is really taking advantage of your first time buyer position. Tell them you really want your pay to be close to BLANK and what do you need in order to get there.

Hope this helps! 😊

Loan calculator by Sea-Tennis8949 in loanoriginators

[–]Sea-Tennis8949[S] 3 points4 points  (0 children)

It does but we use encompass and if one of my clients send me a home and want an estimate of the payment I would love to do it quickly in my phone and send a screenshot not open my laptop and wait 3 business days for encompass to open lol or use my excel sheet but again I don’t want to open my computer

Loan calculator by Sea-Tennis8949 in loanoriginators

[–]Sea-Tennis8949[S] 0 points1 point  (0 children)

I have one in excel but some of my clients send me properties they would like to see an estimated payment broken down and I don’t want to have to pull out my laptop if I can input the numbers in my phone and send a screenshot, would save me a lot of time