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“Believe you can, and you are halfway there.” Anonymous The top three hurdles mortgage customers must conquer are fixing credit issues, finding enough qualified income, and fast-tracking the funds needed to close the real estate transaction. Time is a great healer when it comes to older derogatory credit accounts. An experienced mortgage loan officer can help find qualified income for a borrower, sometimes in the back pages of the tax return. A borrower who does not have enough funds to close the loan can get help from agencies and gifts from other people.
Overcoming Credit Issues Benton and Baily were disappointed that their payment would be slightly higher since the mortgage rates had gone up before they got their offer accepted on buying a home. So the answer for Benton and Bailey was to improve their credit scores. By paying down their credit cards to show they were…
Last April, the Federal Reserve addressed inflation fears with the word “transitory”. The conversation was directed to the markets to believe that current inflation pressures were not severe, and in fact, would dissipate as people went back to work and the supply chain corrected itself. Many in the markets weren’t so sure that this explanation was valid, but the more the markets pushed back, the more the message persisted that inflation fears were a moot point, as they were just “transitory” and would self-correct. The more that position was shared, the harder the markets pushed back. I have been writing in this post that inflation was real, it was going to get worse, and sooner or later, the FED would have to acknowledge that the inflation pressure was in fact real, and that it wasn’t not only not going away, but was going to be a significant issue going into…
Cleve Gaddis is a Master Coach, speaker, and trainer with Workman Success Systems who works with some of America's most-profitable teams. He specializes in helping family-owned brokerages and teams navigate the challenges unique to family businesses. Cleve hosts "Your Move Atlanta," a weekly radio show on 640 AM, a Fox News station on iHeartRadio. He learned to sales the hard way, by selling vacuum cleaners door to door. To have Cleve speak live to your company, team, or group, connect with him at This email address is being protected from spambots. You need JavaScript enabled to view it..
Thanksgiving is the time of year to reflect and be grateful for all that we have. I want to wish all of you a very happy and healthy Thanksgiving and the enjoyment with family and friends. I am always reminded that regardless of your situation, there is always something to be thankful for and acknowledging those things can bring great rewards. As always with holidays I remind you of my philosophy: “If you are going to work, then WORK! If you are taking time off, then DISCONNECT! There is no right or wrong, there just is either or! For those of you who are working, just be sure you connect personally. Black Friday is a great opportunity to share value with your clients and referral partners. Remind them of your ability to put deals together and get them done before the end of the year. Most of your competition is…
The MBA has estimated that mortgage purchase volume will grow by about 9%, to $1.73T. That is $1,730,000,000,000! While that is certainly a positive piece of information, it follows up with the statement that total business volume will fall significantly due to a more than 60% drop in refinance business, from 2.26 trillion dollars to just around $860B. While $860 billion is still a lot of refinances, it will leave a big void in total volume. I’m never one to say that the MBA is always correct in its projections, but obviously higher interest rates and the sheer number of people that have already refinanced down into the 2% range will reduce volume. So, what if the MBA is correct and we see a nice increase in purchase business in 2022, but lose more than 60% of the refinances? My guess is, that it all depends on what your business…
![Sue Yannaccone Discusses Challenges For Women In The C Suite, Leadership Strategies, And Setting Boundaries While Maintaining Work/Life Balance As A Leading Woman In Real Estate [VIDEO]](/media/k2/items/cache/d84ec9655b4a1c9675bae9a0c13aa270_S.jpg)
Editor's Note from Terri Murphy: Could not be happier to learn the news that Susan Yannaccone has been named CEO and President of the Realogy Franchise Group and the first female in that position! Congratulations from all of us from your friends at the Women’s Wisdom Network, RealtyTimes and Women in Real Estate! Read more about her announcement here. With nearly two decades of leadership experience in franchise management and real estate brokerage operations, Sue Yannaccone assumed the role of Regional Executive Vice President of the Eastern Seaboard and Midwest regions of Realogy’s Coldwell Banker company-owned offices in March 2018. Yannaccone oversees the sales operations of 239 Coldwell Banker offices in New Jersey, Long Island, Baltimore, Washington, D.C., Central Pennsylvania, Philadelphia, Ohio, Chicago, St. Louis and Minnesota. In addition to being a mentor and advocate for women in the real estate industry, Yannaccone has been a key driver in…
It should happen everyday that we thank a veteran for their service and acknowledge if not for those sacrifices, we wouldn’t have the liberty and freedom we enjoy without paying much attention to it. To all the veterans, and their families that support them; THANK YOU! In other news, inflation data has really exceeded most estimates and came in at a HOT 6.2%! The FED can say what they want, but prices don’t lie! Since inflation is the arch enemy of interest rates, pay close attention to the bond market please be sure not to let your rate locks expire; it may be very expensive to extend those locks, if possible, at all. Thirty days or so left to get your deals in so they can close by the end of the year, although some may have even smaller windows than that. Please be sure you know where your cutoff…
It’s the first week of November and we are in the final days of 2021. There are a few things that we must get taken care of before we lose the ability to control these final days. It’s a simple check list, but important none the less. 1. Complete your business plan for 2022! If you don’t have this done and begin working your new schedule and processes, you won’t be able to hit the ground running on January 3rd! You can’t afford to give up such a competitive advantage. 2. Finish all required continuing education classes. While I always suggest this is done in February, some push it off. You can’t be without your license! Get it done! 3. Check the calendar. How many days left for you to take in a loan and close it for 2021? Remember to allow for your personal time off, vacations, or possible…
![Do You Start Your Day With A List? Tami Bonnell, CEO Of Exit Realty, Shares How You Get What You Expect And How To Reframe Your Thinking To Create Your Day By Design, And Not By Default, With Her Full Circle Action Plan For Permanent Impact [VIDEO]](/media/k2/items/cache/326c04bbb1b4e95305c8448ae24dd81d_S.jpg)
EXIT Realty Corp International’s CEO TAMI BONNELL is an internationally renowned leader in the real estate industry and was instrumental in building three major brands. Among her many achievements, she was recognized by Real Estate trend watcher, Stephan Swanepoel, three years consecutively as one of the 200 most Powerful and influential people in residential real estate, among the top 20 corporate executives and among the top 10 women leaders. Ms. Bonnell has been a featured speaker at the NATIONAL ASSOCIATION OF REALTOR’S® convention to the Top 500 power brokers, The National Women’s Council REALTORS®, Inman News Connect Conference and the RIS Media’s Leadership Conference. She was named to the National Association of Women in Housing & Real Estate Ecosystem ( NAWRB) Diversity & Inclusion Leadership Council (NDLIC). Ms. Bonnell was honored by STEM connector as one of it’s 100 Corporate Women Leaders in STEM (science, technology, engineering and math).…
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As October ends, we face the stark reality that our year is about to conclude. For those in the mortgage and real estate world, it means there are about 30 days to generate an opportunity and close a deal that will count for you production and income in 2021. The calendar waits for no one! So, we must choose, and it is a choice, what opportunities do we need to generate to take advantage of the time we have left, as well as what are the actions, we need to take to make it happen? What are your options and what are the choices? Who are you targeting and what is the message? What are the actions and activities associated with my needs? What does the social and professional calendar look like? What will my schedule need to be to get it done? What is a winning result? You…
“If one door closes and another one opens, you may be living in a haunted house.” Anonymous Conversation from the mortgage desk: Let’s talk about ways to protect yourself from buying or financing a home that haunts you. No one I know has a crystal ball, but here are some good practices that can help you build a protective hedge to shield yourself. Hedge against inflation The financial headlines point to inflation moving into a more permanent position in our economy, robbing the value of our savings today when we have to pay more for things we need with that money tomorrow. Financial advisors seated across my mortgage desk from me over the years have pointed out how well real estate protected the wealth of homeowners during times of inflation. As prices on goods and services went up, the value of real estate went up also. …
![Are You Ready To Get “Boo-ed?” Master Marketers Christy Buck And Samantha Knoerr From The Christy Buck Team Share How They Master The Art Of “Boo-ing” To Create Fun, Connection And Lots Of Referrals [VIDEO]](/media/k2/items/cache/4395239b982e2576395d6b463a5c0f91_S.jpg)
The Christy Buck Team still knows how to reach out and support her clients and customers even though social distancing has changed how we connect. Not familiar with "Boo-ing" or "Egg-ing?" It's not just about real estate. Learn how Christy Buck and her team supports and is a resource to her community in times of floods, loss, stress and tragedy. Discover how she shares the team's core value to give back and have FUN! A bit about Christy: Christy Buck is the Broker/Owner of The Christy Buck Team at Infinity Real Estate Group. She is a third generation realtor in the Houston, TX market. In the last 5 years, Christy has taken her team from 2 members to over 28 members, and has gone from 55 units a year at $13 million sales volume to over 450 units a year and over $100 Million Sales Volume. Her team went…
We have all heard the theme song to the TV show COPS. See, the song already started playing in your head! Now just make a quick substitution: LOs, LOs; whatcha gonna do? Whatcha gonna do now that your rates ain’t TWO?
Inflation continues to push prices higher. Bond yields are responding for fear of that inflation. Ten Year T pushed past a critical 1.63 level and has closed above it. So 30yr mortgage rates have left the 2% level smack into the mid 3% arena causing refinances to fall off. Loan officers, managers, and company ownership are all facing the facts that refinances are going away rapidly, and what was once the major force in originations is now off by 22% year over year as rates continue to rise. If your business was 50% - 60% - 70% or more refinances; whatcha gonna do for business in 2022?…
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