PANTA FAMILY


Sunday, July 1, 2007

Sub-prime Can Help Prime Bottom Line

My philosophy is simple, yet unique in its approach. The mortgage broker who can get the deal done at a competitive rate usually gets the deal and the commission. Anyone can get any conforming rate anyone else can get. Conforming loan success is a matter of how little you are willing to work for to undercut your competition.

Doing sub prime loans will be easier for you, but you will have to work more to qualify your borrower. But is it worth it? You bet it is!

In the sub prime band, much of that same strategy can work. There is a very important twist though. Each sub prime loan has its own unique problems that must be addressed. I teach all of my brokers to find sub prime lenders that offer you a truly unique advantage over your competition. Sub prime borrowers are far more grateful than conforming ones, in my humble opinion. If you have 10 sub prime lenders offering the same rate on a 2/28 ARM, making 1 YSP, chances are your competition has the same lenders? So what sets you apart? What if you could find a lender that would do the loan for 1/2% less AND still pay you 1 YSP IF you submit a full package to the lender? Now you have a solid advantage.

If you want to have an unbeatable bag of tricks, do your homework first and find lenders that fill very difficult niches that most brokers do not want to do or simply don’t think can be done. Advertise those programs and you will get deals.

Such as a lender that offers a free point at par for simply submitting an appraisal with the package. Or a lender that offers a 1/4% reduction in rate for purchases over 75% LTV! Yes - over 75% LTV. Or a lender who will treat an s/e borrower with less than 2 years of s/e as a full doc. borrower! Or a lender who offers a 107% purchase/refinance at rates under 8%, 30-year fixed, no MI, no escrows and at scores down to 660!

Don’t worry about what your competition can do - be worried about what you can’t do because you do not seek out new lenders with programs to do what you have been told or thought couldn’t be done.

Just some thoughts that have kept many brokers one step ahead of the competition. Many mortgage brokers turn away new lender reps because they do not want to hear the same stuff. I have never been so busy that I could not listen for 10 minutes to information that I could profit from.

Labels:

4 Comments:

Blogger ninest123 Ninest said...

ninest123 10.17
prada handbags, red bottom shoes, michael kors outlet store, tiffany jewelry, ray ban sunglasses, nike air max, louis vuitton outlet online, christian louboutin, cheap oakley sunglasses, nike free, replica watches, polo ralph lauren outlet, louis vuitton outlet, louis vuitton handbags, kate spade outlet online, michael kors handbags, ugg outlet, louis vuitton, tory burch outlet online, burberry outlet online, michael kors outlet online, nike air max, christian louboutin outlet, cheap ugg boots outlet, oakley sunglasses, prada outlet, polo ralph lauren, ray ban sunglasses, louis vuitton outlet, tiffany and co, gucci handbags, replica watches, longchamp outlet online, christian louboutin shoes, longchamp handbags, cheap ugg boots, oakley vault, burberry outlet online, ugg boots clearance, michael kors outlet online, ray ban outlet, nike outlet, chanel handbags, cheap oakley sunglasses, oakley sunglasses, jordan shoes, ugg australia

October 16, 2015 at 8:56:00 PM PDT  
Blogger ninest123 Ninest said...

michael kors outlet online, air jordan, north face pas cher, mulberry uk, guess pas cher, nike air max, burberry pas cher, longchamp, nike roshe, coach outlet, coach outlet, hollister uk, nike air force, true religion outlet, michael kors canada, air max, scarpe hogan, ray ban uk, nike free pas cher, nike blazer pas cher, lululemon outlet online, michael kors uk, nike air max, true religion outlet, air max pas cher, louboutin, lacoste pas cher, ralph lauren uk, hermes pas cher, nike roshe run, abercrombie and fitch, kate spade outlet, longchamp pas cher, ralph lauren pas cher, new balance pas cher, michael kors, coach purses, true religion, true religion jeans, hollister, converse pas cher, nike free, sac vanessa bruno, vans pas cher, north face, coach outlet store online, tn pas cher, timberland pas cher, oakley pas cher, ray ban pas cher

October 16, 2015 at 8:56:00 PM PDT  
Blogger ninest123 Ninest said...

nike roshe, nike air huarache, baseball bats, p90x workout, ferragamo shoes, asics shoes, louboutin, vans outlet, herve leger, valentino shoes, nike air max, babyliss, new balance outlet, insanity workout, chi flat iron, nfl jerseys, ray ban, air max, abercrombie and fitch, giuseppe zanotti, hollister, mont blanc pens, oakley, converse, vans, longchamp, beats headphones, ralph lauren, north face jackets, reebok shoes, north face jackets, abercrombie, bottega veneta, jimmy choo shoes, iphone case, birkin bag, soccer jerseys, lululemon outlet, ghd, hollister clothing store, instyler ionic styler, converse shoes, nike trainers, celine handbags, mac cosmetics, wedding dresses, gucci, timberland boots, mcm handbags, soccer shoes, michael kors outlet, longchamp outlet

October 16, 2015 at 8:57:00 PM PDT  
Blogger ninest123 Ninest said...

michael kors handbags, ugg, moncler, montre femme, canada goose, sac louis vuitton, pandora uk, wedding dress, louis vuitton, swarovski uk, marc jacobs handbags, louis vuitton canada, moncler outlet, pandora charms, canada goose outlet, coach outlet, michael kors outlet, moncler, links of london uk, canada goose pas cher, uggs canada, louis vuitton pas cher, moncler, moncler, michael kors outlet online, swarovski jewelry, juicy couture, moncler, hollister canada, supra shoes, louis vuitton uk, canada goose outlet, moncler outlet, moncler, ugg boots, barbour jackets, doke gabbana outlet, pandora jewelry, canada goose, canada goose outlet, canada goose, ugg soldes, canada goose, thomas sabo uk, karen millen, sac lancel, replica watches, ugg, juicy couture outlet, barbour, toms outlet, pandora jewelry
ninest123 10.17

October 16, 2015 at 8:57:00 PM PDT  

Post a Comment

Subscribe to Post Comments [Atom]

<< Home