Mortgage News

Please welcome Loan Runner to the Outpost!

Loan Runner is the company that gave the industry its first universal subprime pricing engine. We have a complete suite of products to help everyone, from the single loan originator to the national lenders.

Loan Runner’s focus has always been on accuracy, so you don’t have to re-handle the file, over and over. Since its inception, Loan Runner has added numerous new factoring modules to give you even more accurate pre-quals than the lenders own engines! The Loan Runner Loan Search Engine TM calculates and vets out more of the pertinent information you need, to get as close as possible to a true credit grade than any other subprime pricing engine. You don’t have to mull over multiple rate sheets, fax numerous documents or make various calls to AE’s and wait for them to get back to you.

When you are talking to a potential borrower, the kiss of death is to tell them you will shop around and find them the best rate and get back to them. Loan Runner gives you the most accurate adjusted rates from the nation’s top lenders in an instant. With Loan Runner, you don’t have to worry about whether or not your client will pass muster with their tradelines, DTI, GDI and other major factors. Loan Runner does it all for you.

Starting at $29.95 per month, Loan Runner is the most efficient and accurate subprime engine available, AND the most cost effective too.

Have a larger shop? Are you a net branch company? Your whole company can use Loan Runner for as little as $75 per month and all with their own logins and passwords. Would you pay us $0.12 to show you up to over 300 pre-quals all at once for your immediate file? Imagine being able to get hundreds of pre-quals at a moment’s notice for $0.12!

Want your OWN prequal engine? No problem. We can have you up and running in no time.

So, why Loan Runner?

Accuracy and efficiency:
Less False Positives (No engine can underwrite a complete loan. We are more restrictive. Other engines will often show you loans your client CANNOT get)

Price:
Whether a loan originator or lender, the Loan Runner suite of products will help you to streamline your business, be more competitive and close more files.

Support:
We are always here for you.

Call now for further information: 414-332-3777
Log on and see our demo.
http://www.loanrunner.us

Original post by Darin

Updates over at Sun American:

Sun American Mortgage Wholesale is pleased to announce the addition of a new subprime product line! Our current hot product is a one loan, no MI up to 100% with a 580+ FICO and par rates this past week have been around 8.5%!

Even better, it’s just as easy to get a subprime rate with epricer, our online pricing engine, as it has always been with our premier Alt-A products. Simply go to www.epricer.biz, enter your email address and create a password, and you can run your scenarios in under 60 seconds. No more rate sheets! From there, you can select what rate you want with the corresponding rebate and you are presented with payment details and underwriting guidelines. Click here for a sample screenshot of a scenario run on epricer. (If the image is too small to view, hover over the lower right hand corner to show an icon that will allow you to enlarge it.)

Of course, you can always reach one of our Account Executives directly at 1-800-537-0616, if you have any questions.

Original post by Darin

Please welcome Lexington Lending to the Outpost!

Lexington Lending (www.lexingtonlending.com) is the Nation’s Leading Premier Super Jumbo Lender specializes in HIGH RISK programs. Our special niches are:

- 100% Option Arm
- 100% Non-Owner Occupied
- 100% Stated up to 1.5Million
- 100% Full Doc up to 6 Million
- 0% Option Arm
- no payment for 3 months
- Non-Prime Option Arm
- Bank Statement as FULL Doc
- Option Arm 2 Yrs out of BK
- 100%Super No Doc 1 Loan No MI
- 95% Super No Doc Non
- Owner Occupied 1 Loan No MI
- No Limit on Cash Out programs
- 100% Loans Stated Scores from 580 FICO
- No Limit on properties owned Investment Programs
- No Credit Score Option Programs
- 50 years Amortized Loan
- 1st time Home Buyer No Trade lines to 100%
- 10 Year Arm w/ 10 Yr Interest Only

At Lexington Lending, we work hard to make the loan origination process easier for our independent mortgage brokers. So to help introduce you to Lexington Lending we’ve made the following tools and resources available for our guests to use.

Rates and Programs:
Lexington Lending offers Alt-A 1st TDs, 2nd TDs, and Jumbo Combos, all with flexible guidelines and aggressive pricing. Along with financing residential 1-4 unit properties up to 100% CLTV, most of our products come with interest-only options. Lexington is your one stop shop for Fixed, Option ARM, and HELOC products from $100,000 to $10,000,000. At Lexington…we do things BIG.

Prequal Wizard:
In the ever-changing environment of mortgage banking, Lexington takes pride in accommodating the specific needs of each customer. At Lexington, we understand that you need every available advantage to stay ahead of the competition. This is why we provide multiple technology options to meet your needs to register, lock, underwrite, close, delivery of your docs, and fund your loans. As a GUEST, feel free to try our Prequal Wizard.

Become a Member:
To learn more about Lexington Lending please visit our About Us, Newsroom, Sign Up or To Be Contacted by our AE sections. We look forward to working with you soon - because we think that together, we’ll make a great team. To find out more about Lexington’s Member Services, contact a Lexington Representative. Lexington Lending is proud to be the nation’s Leading Premier Super Jumbo Lender. When we work with our thousands of independent mortgage brokers, we’re committed to doing business differently. The mortgage industry is changing, and Lexington is the wholesale Alt-A & non-prime lender that’s rewriting the rules.
If we can’t do it, it can’t be done!

Years of Real-World Experience:
Lexington Lending, is the leading non - conforming mortgage lender in the nation, with more than 15 years of experience providing the most competitive mortgage loans in the industry. We’re committed to providing the best programs, pricing and service to the broker community, delivered in a professional, yet straightforward manner.

Better Communication, Better Turnaround, Better Pricing:
At Lexington, we’re committed to open and effective communication throughout the loan process. Our company policy on response is just as refreshing: if you call with a question, you get an answer - not voicemail. We have a streamlined lending model that optimizes technology and our skilled lending team. Which means faster response, consistent decisions, and superior customer service. Things that make Lexington the smart choice for all your clients.

For information, please contact:

Lexington Lending
3 Imperial Promenade Suite 120
Santa Ana CA 92707
714.955.5550 x 101
http://www.lexingtonlending.com/

Original post by Darin

Welcome our DpFunder to the Outpost!

DpFunder is the nation’s first and only Earned Income Program (EIP). DpFunder can be used in conjunction with conventional and non-prime loan products. We have assembled a group of companies that help homebuyers earn the funds they need for a down payment. The single greatest barrier to homeownership is funds toward Mortgage Down Payment. DpFunder pays a commission to anyone who sells an Owners Alliance membership. A home buyer can Earn up to 10% for a residential property and a commercial property buyer can earn up to 30% for a commercial property for down payment. DpFunder can be used with both commercial and residential transactions.

Homebuyers simply signup to be a dealer for Global Direct Sales (GDS) at no cost. As a dealer, a homebuyer can earn a commission for selling a membership in the Owners Alliance. This commission can be used towards a down payment on a home. Typically, a homebuyer finds a home he/she wishes to purchase and sells a membership to the seller. If the settlement does not occur, there is no obligation. The commission on the sale of the membership is then used towards the down payment. DpFunder works with both commercial and residential loans.

Visit the site at http://www.dpfunder.com

Original post by Darin

Please welcome Flagstar to the Outpost!

Flagstar takes pride in accommodating the specific needs of each customer. At Flagstar, we understand that you need every available advantage to stay ahead of the competition. That is why we provide multiple technology options to meet your needs to register, lock, underwrite, close, fund and deliver your loans. Our Loantrac system provides you with the fastest way to close your loans, saving you time and money!

Speed

* Immediate loan registration, price quotes, locks and lock confirmations.
* Underwriting turn time in HOURS, not days.
* Funding requests processed within 2 hours.
* Opportunity to close more loans in less time than with any other lender.

Service

* Wide array of products including conforming, jumbo, sub-prime, FHA/VA, seconds and HELOCs.
* Dedicated customer support line with extended hours.
* Ability to have an underwriter contact you about your file before, during or after submission.
* Customized advertising slicks to help you promote your business.
* On-site training on all Flagstar technologies.

Technology

* Access, via our Web site, to commitment letters, funding breakdowns, status information, daily rates, production reports, approved appraisers, approved settlement agents, product descriptions and much more:

* Wireless alerts for all status updates and underwriting approvals.
* Ability to import your 1003 directly to Flagstar using your LOS system.
* Integrated interfaces with Calyx, Ellie Mae and many other LOS systems.
* Paperless underwriting for all loans and paperless closing package delivery for correspondents.
* Access to Paperless File Managertm, to view all documents submitted to Flagstar instantly.

Original post by Darin

Everyone please welcome Lead Source to the Outpost. The owner Steve Wachs contacted me and assured me he would do everything in his power to make sure Outpost members are taken care of. He also assured me that if he cannot fulfil an order in a timely manner he wouldn’t accept the business. Please email me directly and keep me updated on your experiences with Lead Source.

—

Lead source is a mortgage telemarketing center based in Cincinnati, Ohio, providing exclusive mortgage telemarketing leads and mortgage telemarketing list services. Lead Source telemarketing experts provide hundreds of exclusive mortgage leads everyday to mortgage brokers and mortgage companies across the United States.

Lead Source telemarketers are highly experienced in identifying and generating interested individuals looking to refinance their homes. Lead Source telemarketing experts follow specific criteria for every a mortgage telemarketing lead our center generates for your business. Every mortgage lead our telemarketing center generates is EXCLUSIVE. We do not resell our mortgage leads to several brokers. Our Lead Source mortgage telemarketing account executives will work with you to set-up your exclusive mortgage telemarketing lead generation program. Lead Source will work with you on a daily basis providing feedback and fresh exclusive mortgage telemarketing leads.

Lead Source also sells Trigger Data. Our Triggers get to our customers within 24 hrs. (same day). They are scrubbed and double appended vs. the phone book for accuracy. We do offer discounts for bulk orders!

Please call 1-800-653-1638 for more information or visit http://www.lead-source.org!

Original post by Darin

Please welcome Mortgage Lens to the Outpost! The Next Generation of Mortgage Presentation Software.

What is Mortgage Lens?

Mortgage Lens is the most advanced mortgage presentation software on the planet. Now you have a more powerful and cost effective alternative to other more expensive and less-powerful mortgage presentation software.

Mortgage Lens doesn’t require extensive training or a textbook-like instruction manual to use effectively. Mortgage Lens was designed from the ground up to be simple and easy to use. Just enter your numbers and you’re ready to go.

How can Mortgage Lens help me?

Mortgage Lens has 26 analysis modules that allow you to position yourself as a “Mortgage Consultant” rather than just a rate and term jockey. Analyze all the options available to your client with this powerful toolset, in real-time and in color. All available in a free trial!

Mortgage Lens gives you the ability to make sales in a new way. Most mortgage software would be best called “mortgage report generators”. With these products presentations are prepared beforehand, in black and white with column after column of figures. Mortgage Lens allows you to do live presentations with your clients, either in person or virtually over the internet using desktop sharing software. The bottom line is that Mortgage Lens can help you stand apart form the crowd.

Why Mortgage Lens?

* It’s more powerful - Mortgage Lens has 26 different analysis modules.
* It’s easier to use - Mortgage Lens is so easy to use you can be up and running making presentations in less than 4 minutes.
* It’s less expensive - Forget having to pay hundreds upon hundred of dollars to use a mortgage presentation package, you can try a fully functional Mortgage Lens demo for FREE!
* It’s interactive - All analysis are done live and interactively right as you enter in the data!

Click here to visit Mortgage Lens Homepage.

Original post by Darin

Currently, houses are staying on the market much longer than in the past. If you are searching for a property, this is good news for you. Often people don’t know what to look for in a property to get a good deal.

Here is a real estate tip that can save you THOUSANDS of dollars.

First, you need to be pre-approved (not just pre-qualified, there is a difference). Call me at 800-453-9290 if you would like a free pre-approval consultation, regardless of what state you are in.

Second, you need a real estate agent that will work for you for free. Most agents represent the seller, however if you have a buyers agent, they will work on your behalf and help get you the best deal.

Third, you need a real estate agent that is flexible and willing to make offers for you. (if you need a referral to a qualified agent in your area, send me an email at anthony@atozlender.com) Ask your agent to do a search to find properties that are vacant, and then ask them to see how long the properties have been on the market. If the seller has a vacant home and is paying two mortgages, they will very likely be willing to entertain a reasonable offer from a buyer. Many MLS listing say this exact thing “will entertain all offers”; I just read this on an MLS printout today after asking on the agents I work with about a property that has been on the market for some time. I am happy to answer questions as far as what seems reasonable if you want some help with that as well.

Lastly, you may want to consider a “fixer upper” or a foreclosure property. These properties may need work, but you can save big and earn immediate equity by buying at the right price. Here are some resources for both:

Foreclosure Property Listing: http://www.finamark.com/reo-foreclosure-list.cfm This is the best priced list ANYWHERE on the web. Feel free to search for others and you will see that this is true. It is also a quality list with over a dozen resources including nationwide bank property listings.

Fixer Upper Fortunes: http://www.anthonykirlew.com/real-estate-investment-course.asp
This is an A to Z course on how to buy “fix up” real estate. It comes with a one-year money back guarantee and is available for only $97 through my website (normally $197).

If you know anyone who is thinking of buying, please pass this along to them and encourage them to take advantage of the current downward trend in the mortgage rates.

Until next time…

Anthony

Anthony Kirlew
Mortgage Loan Consultant
Founder & President, Consumers Advantage Mortgage
Toll Free VM: 800-453-9290
email: anthony@anthonykirlew.com
www.consumersadvantagemortgage.com/
http://mortgagemarketnews.blogspot.com - Mortgage Blog

Author of “The Bankruptcy Mortgage Book”
www.thebankruptcymortgagebook.com

Original post by AnthonyK

Welcome New Star Funding Corp to the Outpost!

We are a Correspondent Lender whose corporate office is based out of Old Bridge, NJ. Our company was built on the foundation of honesty and integrity. Our success depends on the quality relationships that we develop and it’s our hardworking, intelligent, and honest Branch Managers and Loan Originators who get us there.

With employees that value honesty and service, we help our customers in obtaining the lowest rates possible while they maintain the highest expectation of service and customer satisfaction.

It is our pleasure to present these two opportunities to you. You will find that our two unique programs allow you to market a complete mortgage product line and have access to high volume pricing advantages. Our aggressive compensation structure and service is what makes us one of the most competitive mortgage lenders in the market today.

Our Branch Program is recommended for groups of two or more experienced loan officers including existing branches. This program offers the ability to be licensed in 14 states. We pay 100% on the excess of revenue over expenses incurred by your branch. We only charge you fees that are incurred as a direct result from operating your branch. NO HIDDEN FEES! You have the ability to market your services and run your operation as you feel appropriate while attaining unlimited earning potential. Some highlights include automated pricing engines, pipeline manger, processing, and access to a multitude of investors. Start working for us immediately! You will be part of our corporate office until we get your location licensed and approved! A no waiting period means you start your business and earning faster!

Our Affiliate program is recommended for an individual loan officer. We will pay you 70% or 80% of all fees you charge and receive. In addition receive free credit reports and free loan processing of all your loan files. Take advantage of our override structure. We will pay you 5% on all commissionable income generated from a loan officer introduced by you to New Star Funding Corp. Some highlights include closing as a lender (no ysp disclosure required), free processing, free credit reports, corporate e-mail, business cards, personal corporate website available, automated pricing engines, pipeline manage and these are just a few.

We will help you along the way as you grow and learn. The backing of a company with a strong foundation will help you reach all of your entrepreneurial goals and dreams.

For more information visit our website www.newstarfunding.net or call 800-647-1834

Original post by Darin

I often get to speak with would-be real estate investors, and find that although many see the opportunities to make significant profits by buying investment real estate, many are not aware of all of the risks involved and even more just don’t know where to start.

I have personally had the opportunity to purchase a handful of investment properties of the past 13 years, however I chose to not hold any properties for the long haul. As you look to become a real estate investor, this is a decision that you will make; whether you are looking to buy and sell for a profit (the best way to make large profits in the short term), or buy and hold to create a portfolio of investment properties (a great retirement strategy).

If you have not considered getting into the investment real estate market, here are a few good reasons to do so now:

1. The interest rates are on the decline. A thirty year fixed mortgage is now back down to 6.25%.

2. Retirement. I see so many individuals who are strapped for money in their 50’s, 60’s, 70’s, and 80’s. I am not exaggerating. Many of them are embarrassed when they contact me and have to reveal where they are, and many times they are coming to me to take money from their sole asset; their home. The horrific statistic is that over 90% of Americans do not have the money to retire; owning investment real estate can change this.

I am not a “certified” financial planner, but I am sure any financial planner would agree that real estate is an excellent complement to your investment / retirement portfolio. The market has ups and downs, but over the long haul you usually will not go wrong buying real estate.

3. Market Conditions. It is now a BUYERS MARKET once again with properties staying on the market much longer, and THOUSANDS of properties on the market currently. If you tried to buy an investment property over the past few years (and were not an insider), you probably had a hard time finding a great deal, but now, you will find sellers willing to negotiate more than ever. On average, sellers are now paying at least 2% of the buyers closing costs, and this can save you thousands of dollars on your investment property acquisition.

Here are some pointers for getting into the investment market.

1. LEARN HOW TO BE A REAL ESTATE INVESTOR. I don’t recommend high priced courses, but I do recommend getting an education. I found a great real estate investment book called “Fixer Upper Fortunes“, which is an A to Z guide with a one year money back guarantee. It is sold as an electronic book which can be purchased and downloaded from the web (you receive it immediately after paying online as opposed to waiting for shipping). The book currently sells for $197, but you can buy it from this link for only $97 for a limited time. Click here for more info:

2. ESTABLISH A TEAM OF PROFESSIONALS TO HELP YOU. You will need access to new financing for your properties (and I would be glad to help), access to real estate agents to help find properties that have been on the market for a while with declining prices and to write contracts to purchase your properties (I can also help with my nationwide referral network), and contractors to estimate and help with repairs and renovations when necessary. Other folks that can be very helpful to have on your team are title searchers to find the true status of pre-foreclosure properties, home inspectors (not all contractors qualify to find problems and may only do repairs), referral sources, and an accountant (to help you keep your profits and pay minimal taxes).

If you are interested, here is some information regarding my first (and very successful) real estate investment:

My first investment deal (in 1993) was a no money down deal and I was able to sell it for more than twice what I paid for it. I am not one prone to hype, so I will disclose that I was an insider on this because I worked for the developer who was selling the property, but I still had to find an investor who was willing to put up all of the money. I actually found one, then got a better deal by using his rate to get a better rate with the second investor. I was able to borrow enough to buy the land, pay the closing costs, pay the development costs, AND have some spare cash. The investor got a 36% return in 6 months, and I walked away with a pretty nice check as well. I wanted to share that so you know it can be done. I know the market conditions are not the same as 1993, but I have more than investor client that makes in excess of $100,000 per year exclusively as a real estate investor.

Feel free to call me to discuss any scenario with you whether it is mortgage or real estate related. I also have some insider contacts with real estate developers nationwide and can put you in touch with some great deals.

I look forward to hearing for you. I am here to help you accomplish your real estate investment goals in any way that I can.

Anthony Kirlew
Mortgage Loan Consultant
Founder & President, Consumers Advantage Mortgage
Tel: 800-453-9290
anthony@anthonykirlew.com

Author of “The Bankruptcy Mortgage Book“
Now available on Amazon (but cheaper at my site - www.thebankruptcymortgagebook.com
)

Original post by AnthonyK