I am new to Active Rain and I am very excited to be a part of this community. I am also new to blogging so I am not quite sure where to begin, so I am just going to dive in and see where this takes me. When I began in this business I really had no clue what was going on, after a couple years I really thought I had a good handle on things. I worked primarily with sub-prime borrowers and although sub-prime is getting alot of flack and taking a good portion of the blame for the current housing and credit crisis the truth is I helped alot of good people out of bad situations with subprime loans. The trick to providing a quality sub-prime loan is constantly following up with your clients. Often times a sub-prime borrower will not qualify for the best rates and programs but they are bleeding money and credit every month. If you put someone into a higher interest rate mortgage based on what they qualify for that signicantly reduces their monthly debt and helps them re-establish credit by bringing their account balances to zero. It's not just the loan that is going to help them, it is your consultation and follow up to ensure that they are following the plan that you worked out with them that is going to help put them back on track.
The Sub-prime markets have really dwinldled recently and I have made the transition to conforming A paper around 6 months ago. Although I am pleased with the fact that I have helped so many people who were in trouble get back on track I am ecstatic to be a part of this new market. Business is great and I have learned and am still learning so much. After my recent experiences I wish I had switched sooner. I am able to help people realize their life long goal of home ownership and I am able to beat the vast majority of my competion with regard to rate, fee, turn times, and ease of use.
I am still learning alot as stated above and honestly I am in awe of what I have been able to do with Fannie Mae and FHA loan products. Some of the things that I can do with Fannie Mae for first time home buyers is on par with Sub-prime when it comes to flexibility with far better interest rates.
Anyway I am open to comments and suggestions and I will be posting specific details on loans that I get through the system. Also I frequently qualify buyers who are without a buyers agent and I will be coming to Active rain to make referrals and to develope some referral partner relationships. Thanks for reading and have a wonderful day!
37 Boynton Ave
(845) 243-5293 (Office)
(518) 565-0799 (Cell)