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| Referral Program |
Turn your contacts into transfers! Make sure you take advantage of our referral program. For every new client you refer who orders 50 transfers, you'll get 5 free transfers — a value of up to $500!
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| DNCSolution |
DNCSolution is a family of Internet-based products that handle the full range of Do Not Contact (Do Not Call, Do Not Fax, Do Not E-mail, Do Not Mail) compliance. DNCSolution also addresses the privacy directives and opt-in/opt-out preferences of your prospects and customers. DNCSolution.com
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Lately, I've read a few articles and been in a few discussions about how the meltdown was compounded (and is still compounding) due to "over-reaction." How the ensuing panic from the fallout caused a bad situation to become a "catastrophe." Well, I think it's probably true, and the sooner we take a deep breath and regain our composure, the better. However, there continue to be mixed signs at this point as to whether we're heading in the right direction.
A report out today from the MBA is showing that Mortgage applications in the U.S. rose 5.5 percent last week, reflecting gains in both purchases and refinancing. Great news! In addition, companies like Wachovia Corp. are grabbing more business as a result of the recent shakeout in the industry. On the other end of the spectrum though, you have Countrywide laying off a potential 12,000 employees and Kerry Killinger of Washington Mutual making statements like this: "It now appears that the housing and capital market correction will be worse and longer lasting than even we expected." The bleeding has to stop at some point, stay focused!
I also found some other discussions this week that I thought were worth a read. The first was a Q&A about the current market, one with a positive outlook. One comment in particular caught my attention, "Subprime will come back. It fills a need in the industry. People get divorced, they have medical bills. They still need a place to live." In addition, there were two other discussions that touched base on topics that we've talked about in the past - the bailout and whether it's the right solution and licensing requirements.
Make sure you visit our blog posts on both of these topics, licensing and government bailout, and give us your thoughts.
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Chris Beauchamp |
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| For many lead buyers, leads serve a single and very important function: feed the sales funnel. But for a business owner or hiring manager, leads can also provide a great way to recruit good talent to your organization.
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Clarity Training Group |
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Think of a number between 1 and 10. Now multiply that number by 9. If that new number is two digits, add the first digit to the second. Now subtract 5 from that number. Okay do have your number? Find the letter that corresponds with that number (i.e. 1=A, 2=B). Now think of a country that starts with that letter. Next, take the last letter of that country and think of an animal that begins with that letter. Finally, use the last letter of that animal name and think of a fruit that starts with that letter.
Are you thinking of a Kangaroo in Denmark eating Oranges? That is where I wanted to lead you the entire time. As a loan originator you want to take your borrower down a path with a specific destination in mind - the closing of a new mortgage loan.
No borrower will care about Kangaroos, but you can use leading statements and questions to get your borrower to that destination:
"What home improvements do you have planned this winter?"
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"It's going to be great not having a mortgage payment to make until next year! With the Holidays right around the corner you are going to love having all that extra money."
There are many statements that can be made, or questions that may be asked that will accomplish the objective of selling the loan. Clarity Training Group can instruct your sales staff on how to effectively lead the client.
Clarity Training Group provides professional sales training and consulting services to the mortgage industry. For additional information, or to schedule Clarity Training Group to work with your sales organization visit us online.
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WashingtonPost |
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| Mortgages are complicated, and lending markets are in flux right now, but savvy, well-positioned consumers can still get the loans they need to buy, build or refinance a home. They just need to pay attention to what's going on, says David Reed, a lending veteran based in Texas and co-author of "Mortgage Confidential." To find out more about what's going on in the mortgage industry, The Post's Mary Ellen Slayter recently spoke with Reed.
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TheHeritageFoundation |
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| A carefully targeted governmental response to the rising default rate and other problems in the subprime mortgage market is needed to head off further financial market volatility. However, this response should be limited to dealing with the immediate problem and should not become a vehicle for expanded housing programs or pushing other agendas.
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Forbes |
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| As more states and cities struggle to find the money to bail out homeowners caught up in the housing downturn, some Americans are wondering why government should be rewarding people for their greed or irresponsibility.
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Newsday |
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| On an August day a year ago, Malinda Matus recalled, she was swept away by how fast she could close on her low-documentation home refinance - a 20-minute introduction to the loan terms and then the signing.
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EarthTimes |
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| Declining production is contributing to massive job cuts at U.S. mortgage lenders. Countrywide Financial Corp. capped last week off with the disclosure it is preparing for more than 10,000 layoffs.
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TheWallStreetJournal |
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| Wachovia Corp. is grabbing more mortgage business as a result of the recent shakeout in the industry, Chief Executive G. Kennedy Thompson said Monday.
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Bloomberg |
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| U.S. stocks fell for a second day, led by mortgage companies and homebuilders, after San Francisco Federal Reserve President Janet Yellen said the U.S. economy is under "downward pressure" because of the housing slump.
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BloggingStocks |
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| Contrary to the words of our economic cheerleaders -- Ben Bernanke and Hank Paulson -- the subprime mortgage meltdown refuses to stay contained. This economic cancer has now spread to the lumber and title insurance industries.
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Bloomberg |
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| From buyers who can't afford costly loans to homeowners who can't find a buyer, the mortgage market is a mess. Home-loan defaults are at record levels and analysts predict property prices in the most-expensive metropolitan areas of New York, California and Washington, D.C., will fall in the next year in the broadest decline since 1995
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AxcessNews |
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| Thursday, the Mortgage Bankers Association announced that delinquency rates in the one-to-four unit sector now stood at 5.12 percent in the second quarter, up 28 basis points from the first quarter of 2007, and up 73 basis points from one year ago, according to MBA's National Delinquency Survey.
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WallStreetJournal |
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| Amid a worrisome slump in the U.S. housing market, Democrats are stepping up efforts to increase the flow of funds into home mortgages by expanding the authority of Fannie Mae and Freddie Mac, despite White House efforts to limit the companies' roles.
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TheMorningCall |
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| Outrageous. Maybe this was Mr. Gallagher's first offense, but he victimized hundreds of people. He could have been sentenced to 62 years. This white-collar crime sentence, and letting Mr. Gallagher play in his band is an insult to any sense of justice.
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FortWorthBusinessPress |
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| Last year, thieves skimmed at least $3 billion from America’s mortgage industry, according to Federal Bureau of Investigation reports
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