New Mortgage Loan Limits Mean New Sales Opportunities For Loan Officers And Mortgage Brokers

With every year, come new opportunities. And astute loan officers are quick to capitalize on what the new year brings, raising their commission levels and catapulting to top producer status in no time.

I ask you one simple question, "Are you doing everything you can to maximize your income?"

Anyone who has been in the mortgage industry for at least a year, knows that as home prices increase, so do the conforming loan limits from both Fannie Mae and Freddie Mac. January is a great time to go through your existing customer base, and drill for hidden opportunities. It's "found" money. And it's waiting for you.

Here's a quick and easy way you can start your new year off with a bang.

Go through your entire past customer base, and pull-out all the "JUMBO" loans you closed last year and before. As you know, the interest rates on these loans are typically half a percentage point or more above standard conforming loans.

With the yearly increase in loan limits, this is a great chance to refinance an existing customer from a JUMBO loan, into a regular conforming loan and cut their interest rate! Even a small percentage decrease can save a customer hundreds of dollar in their monthly cash flow as well as thousands of dollars in interest over the life of their loan. It's simple math and the savings are black and white.

Refinancing JUMBO loans into conforming loans is easy money and your customers will love you for it! How many loan officers do you know that are proactive and actually look for ways to save their customers money? Not many, I'm sure!

And the ones who do, do this, certainly aren't going to share their secrets with you. But, I will. This will be the easiest sales call you've ever made! Not to mention the referrals you'll get in return. It's a win-win situation. Don't miss the boat.

Your past customers are your greatest asset. They know you, they have a relationship with you, and they trust you. Waste no more time!!! I beg you! Go through your customer database now and mine for the gold that awaits you. What are you waiting for?

Using the same old thinking and doing the same old things the same old way will get you nowhere. Think different. Be proactive. Add value to your relationship with your customers whenever you can. Uncover the opportunities that lie hidden all around you. Do this and you'll quickly vault to top producer status in no time. Not to mention your income and lifestyle will increase as a result.

In closing, always remember that each new year brings higher loan limits--and with it-a chance to pull in some quick, easy refinance loans. Whether or not you take full advantage and raise your commission level, is entirely up to.

The gold is there waiting for you, ready to be claimed. But, will you reach out and take it?

Rob Lawrence is ranked one of top national trainers in the mortgage industry. He is the currently the CEO of Battlecall.com, coaching, tools and resources to turn mortgage professionals into mortgage warriors. Visit http://www.battlecall.com for his free "Sink Or Swim" weekly newsletter, mortgage training, marketing advice and more! Jumpstart your career in the mortgage business, starting today.

Related : bosch gravity rise miter saw invesment

Mortgage Brokers - Choosing The Right One

Alright, you're finally ready to purchase your new home, refinance your current mortgage or refinance your commercial property. How do you go about finding the right broker? First of all you want to find an honest broker. How do you know if they are honest? Well, on this one you are going to have to go by your gut instinct. Does he seem like a slick willy or someone that explains everything in detail and doesn't mind if you have questions? Does he answer your questions completely or does he seem to hem & haw and never really answer the question that you asked?

Is he a licensed mortgage broker? Being licensed means that they have been tested on their knowledge of mortgages by the state and have passed the state exam. They have also had their background checked out. In most states they will also have had to complete and pass mortgage broker classroom instruction to even be able to take the state exam. If they are licensed you know they at least have knowledge of mortgages even if they are just starting out in the business. Although these days there are more mortgage brokers getting out of the business than coming in.

If the mortgage broker is licensed you may also check with the state that they are licensed in to see if their license is still valid and to see if they have had any complaints filed against them. By checking with the state licensing department you will also be able to see if they have ever been disciplined by the state. If they are not licensed by the state or have been disciplined by the state you should look for another broker.

Ask the mortgage broker what banks they are approved with. Keep in mind that the more brand names they are approved with the better because the major banks and lenders go through a stringent approval process and applicants with shady histories or even poor credit are not usually approved. Whereas the smaller lenders are more likely to approve applicants without checking much of their background. This is true even if the broker you are looking at isn't the owner of the company. If a mortgage company isn't approved with some brand name banks they have something in their past keeping them from being approved.

Are they offering something that sounds to good to be true? If so, it probably is. If you've talked to several mortgage brokers and they have all quoted basically the same thing and then you have a broker that is offering you the world you should again run the other way. There are brokers out there that still work off of the old switch and bait. They offer you something great upfront but once it is time to close the loan the rate or terms have changed. If this happens you should walk away and find another broker. Keep in mind on an owner occupied refinance you still have 3 full business days to change your mind once you sign the final paperwork at the closing. If it is a purchase or is an investment property refinance your loan will fund the same day so make sure you understand the paperwork you sign.

If the mortgage broker tells you not to make your mortgage payment that month because you are going to close your loan I would suggest that you put the money away in case you need to make the mortgage payment because the loan doesn't close on time. Don't spend it. If you hold onto the mortgage payment money you won't have to worry if the loan doesn't close by the end of the month. You can just call your current mortgage company and make the payment over the phone or online. You do not want any 30 day lates on your credit report. I have heard horror story after horror story on this one, so please heed my advice.

Check with the better business bureau where the broker is located to check for any complaints. Again any complaints that have not been resolved should be a red flag and look for another mortgage broker.

You may also research their name online. A lot of times if a client is unhappy with a mortgage broker or company they can post their complaint online at a website that is set up just for consumer complaints. Most of these sites offer the person or company that the complaint is filed against to provide a response so it isn't one sided. Check with your friends and neighbors too as they may have used someone that they were happy with in the past. Again, they may also be able to tell you what brokers to stay away from too.

In closing, your best bet is your gut instinct but please use the other resources that I've mentioned so that you can have a great mortgage experience. Remember, don't be pressured into anything. If the broker is talking fast and not providing concrete answers look for another mortgage broker.

Sandra Sheely is President of First Financial Mortgage, Inc. in Sunrise, FL. She has been in the Real Estate Industry for 12 years with experience in the mortgage industry and title industry. She has a couple of Mortgage websites. http://www.ffinancialmortgage.com and http://www.lowestraterefi.com She writes a mortgage blog on her mortgage websites. She has a credit repair website at http://firstfinancial.fixcreditbiz.com/

Friends Link : hdtv review ดูหนัง best laptop review bike rack reviews guide

Mortgage Brokers Banned From Cold Calling

Prior to 2004 there was little regulation for mortgage brokers conducting business in the UK. Anybody could call themselves a mortgage broker, regardless of whether or not they held the necessary qualifications, and they could source clients and conduct their businesses in any way they chose to.

However the Financial Services Authority introduced a strict regime of regulation on 31 October 2004. Mortgage brokers were forced to obtain industry approved qualifications and conduct their business in accordance with the FSA’s rules and regulations.

One rule that was introduced on that date eliminated the ability of mortgage brokers to source clients through cold calling. Cold calling involves phoning people at random without any prior consent given by the individuals. It is a technique that was used by many mortgage brokers to find new customers prior to the new rules coming into effect.

This meant that mortgage brokers who relied on cold calling to expand their customer base were forced to invent new ways of finding clients. Because of this, lead generation companies began to emerge that generate leads for mortgage brokers who do not have the ability to do it themselves.

The lead generation companies are mostly internet based and gather leads through websites. This type of business activity is unregulated by the FSA as it is not the mortgage brokers themselves who are gathering the leads.

Despite this, lead generation is not considered to be cold calling and would therefore not endure the wrath of the industry regulator with regards to the ban on this activity.

However, mortgage brokers and the general public should be aware that a minority of lead generation companies have used unscrupulous means to obtain data for potential mortgage customers and have sold it to mortgage brokers disguised as qualified leads.

The mortgage brokers will then call the potential clients only to find that the leads are not genuine. This means that the mortgage broker has effectively made a cold call to that member of the public because they have not given prior approval for the mortgage broker to contact them.

Mortgage brokers should be careful to ensure that any mortgage leads they purchase are genuine.

Visit UK Mortgage Source to find an independent Mortgage Broker near you

See Also : ดูหนัง hdtv review discount laptops chea plaptops store