Top Producer Interview

Rich Bonn Leader 1Houston Texas

Tell us a little about

About 2 weeks ago you called me about a strategy you had implemented and wanted to share with the group

Who did you target first with this?

Email to CPA’s and Tax Preparers

Email to Real estate Agents

RecapRich has a cool idea to get refinance opportunity’s with current FHA mortgage holdersRich writes an email letter explaining the benefit of the recent FHA MIP rate decreaseRich sends the email to CPA’s, Tax Preparers, Real estate Agents and follows up with a phone call explaining the benefit

Rich makes some money refinancing a family and saving them $260 a month

Rich Real estate agent partner gets 2 listings from sending something of value to his past clients

I’m soldBut how does it work

3 Ways to Roll1. Credit Qualifying

2. Non-Credit Qualifying with Appraisal

3. Non-Credit Qualifying without Appraisal

Without an Appraisal

With an Appraisal

Net Tangible Benefit TestDepending on the scenario, the Net Tangible Benefit test will vary. Here are 2 examples:-Fixed 30 to Fixed 30- 5% decrease in Principal, Interest and Annual MI payment-Fixed 30 to Fixed 15- Minimum 5 year decrease in Remaining term

Net Tangible Benefit for ARM

Net Tangible Benefit for Fixed

Any specific “Pitfalls” to look out for?

When did you implement this strategy?

Aside from the 3 listings your agent partner got, what kind of results have you gotten?

Q and A

Thank you Rich Bonn for sharing your cool FHA Streamline Refinance strategy with us

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