Final November Online

8/14/2019 Final November Online

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FHASecure

Issue 017

November 2008

TheNicheReport.com

16What you need to know.

21 Diversication23When opportunitiespresent themselves.

27

More contacts with leeort.

Creating a 18Call Capture LMachine

Managing thePeaks andValleysTips to help you manageyour cash ow.

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6/486 November2008

PRIME & FHA

NONPRIME & ALTA

REVERSE MORTGAGES

HARD MONEY

CONSTRUCTION/REHAB

COMMERCIAL

NICHE REPORTSCONTENTS Issue 016 October 2008

FOUNDER & PRESIDENTRobert Pegg

[email protected]

CO-FOUNDER & PRESIDENTDavid [email protected]

EDITORIAL / CONTENT MANAGERKristen [email protected]

COPY EDITORStewart [email protected]

ACCOUNTING MANAGERShawna [email protected]

SALES MANAGERMark [email protected]

PRODUCTION MANANGERHenry [email protected]

PRODUCTION ASSISTANTDawn [email protected]

ADVISORY BOARDAaron KrownePresident and CEO, IEHI, Inc.

COLUMNISTSStewart Mednick

CONTRIBUTING AUTHORSRaymond BartreauJerome MayneTom NinnessLeslie PetersenGretchen Underwood

16 FHASecureLESLIE PETERSENwww.mortgagecurrency.com

Ethics: Perspective

of a FelonJEROME MAYNEmember of the national SpeakerSaSSociation & the real eStateeducatorS aSSociation

Strive to be honest, diligent andconsistent.

13

DiversicationRAYMOND BARTREAUpreSident of beSt rate referralS

When opportunities presentthemselves.

23

Creating a 1800#Call Capture LeadMachineTOM NINNESSVice preSident/regional production

manager for cherry creek mortgageMore contacts with less eort.

27

Managing the Peaksand ValleysGRETCHEN UNDERwOODaSSiStant Vice preSident of thecommercial banking group

Tips to help you manage your cash

ow.

21

DEPARTMENTS

What you need to know.

09 NOTE FROM THE FOUNDER

10 CALENDAR OF EVENTS

33 TIP OF THE MONTH

44 LENDER & RESOURCEDIRECTORY

Center Stage withNetmore AmericaTHE NICHE REPORT

A next generation mortgagebanker.

29


7/48


8/48

SUBSCRIPTIONS

This publication is intended or real estate fnance

proessionals. I you are a mortgage broker, lender, loanofcer and you do not currently receive The Niche Report,please send your name, company name, and address [email protected].

Send address change requests to [email protected] to include the old address.

To opt-out o receiving The Niche Report, please send yourrequest, including name, company name, and address [email protected].

ADVERTISEMENTS

To inquire about advertising in The Niche Report, please call540.657.2632, or send an email to [email protected] our website, www.TheNicheReport.com to download acopy o our Media Kit.

EDITORIALS / ARTICLES

To submit an article or consideration in The Niche Report,please send an email to [email protected] or call540.657.2632. We are interested in original writings relevant tomortgage brokers and other real estate fnance proessionals.

I you have a comment or question about an article or editorial

published in The Niche Report, or i you have a suggestion or atopic you would like to see eatured in a uture issue, please sendan email to [email protected].

THE NICHE REPORT POLICY

The inormation and opinions expressed by contributingauthors and advertisers within The Niche Report do notnecessarily reect those o BODA Publishing, LLC employeesand should not be considered as endorsed or recommended byBODA Publishing, LLC.

Published monthly by BODA Publishing, LLCPO Box 2618, Staord, VA 22555Phone: 540.657.2632 Fax: 703.991.2362Email: [email protected] www.TheNicheReport.com

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NOTE FROM THE FOUNDER

TheNicheReport.com

This evening I am driving over to a potential clients house to discuss their options

or getting out o an oppressive mortgage that is slowly drowning them (and their

ARM hasnt even recalculated yet). I know rom talking with them over the phone

that they are underwater in their current mortgage and there is not even a one per-

cent chance they will qualiy or a new mortgage. You may be asking yoursel then

why go over there i you know they wont qualiy? My answer is that not only is

this the right thing to do, but these olks need sound advice and help fguring out

their options. I may be able to reer them to one o many reputable business part-ners I have aligned mysel with in this struggling market.

I mention this story because in this issue o TNR we have many articles related to

helping you, the loan originator, oer potential clients those dierent options. Leslie Petersen, who has

over 30 years experience in mortgage lending and also writes or MortgageCurrentcy.com, is back with

our eature article on FHASecure. The media and government are touting the new Hope or Homeown-

ers (H4H) program as the savior to this oreclosure mess, however, Leslie frmly disagrees and she will tell

you why. We also have Raymond Bartreau, President o Best Rate Reerrals and a nationally recognized

marketing consultant, writing on the topic o building multiple relationships with reputable proession-

als who specialize in all o the ollowing: credit repair, loan modifcation, short sales, debt settlement and

Bankruptcy Law.

I would like to take this opportunity to publicly thank VAMB, especially the Executive Director - Steve

Baugher. We recently attended the 20th Annual Convention held in Virginia Beach. He and VAMB made

us eel extremely welcomed and put on a great show. Steve/VAMB Thank you, TNR looks orward to

next years convention and will be here to help VAMB in any way we can.

This month we are o to NAMB/West at the MGM Grand in Las Vegas Nevada (check out the TNR

calendar or dates and details). The vendor lineup looks very well-rounded and I invite anyone attending

to stop by and visit our booth, # 623. Look orward to seeing you there.

Keep up the fght,

Robert Pegg


10/48

NOVEMBER 6

MBAs Residential Underwriting

Conerence at the Embassy SuitesTampa - Downtown ConventionCenter in Tampa, FL. Visit www.mbaa.org or details.

NOVEMBER 7

MBAs Residential UnderwritingConerence at the Embassy SuitesTampa - Downtown ConventionCenter in Tampa, FL. Visit www.mbaa.org or details.

Housing Forecast/Pending HomeSales Index released by the NAR

NOVEMBER 15

NAMB/West 2008 Conerence at theMGM Grand in Las Vegas, NV. Visitwww.namb.org or details.

NOVEMBER 16

NAMB/West 2008 Conerence at the

MGM Grand in Las Vegas, NV. Visit

www.namb.org or details.

NOVEMBER 17

NAMB/West 2008 Conerence at the



NOVEMBER 18NAMB/West 2008 Conerence at the



3rd Quarter Metro Home Prices/State

Resales released by

the NAR

NOVEMBER 20

CommercialLeading Indicator

released by the

NAR

NOVEMBER 24

October Existing-

Home Sales released

by the NAR

DECEMBER 4MBAs Commercial/

Multiamily Capital

Markets Winter

Conerence at the

Ritz Carlton in

Washington DC.

Visit www.mbaa.org

or details.

DECEMBER 5

MBAs Commercial/MultiamilyCapital Markets Winter Conerence athe Ritz Carlton in Washington DC.Visit www.mbaa.org or details.

DECEMBER 9

Housing Forecast / Pending HomeSales Index released by the NAR

DECEMBER 17

Commercial Real Estate MarketForecast released by the NAR

DECEMBER 23

Existing-Home Sales released by theNAR

CALENDAR OF EVENT

10 November2008

u k ds & evs: NOVEMBER & DECEMBER

DECEMBER 2008

S M T w T F S 1 2 3 4 5 6

7 8 9 10 11 12 13

14 15 16 17 18 19 20

21 22 23 24 25 26 27

28 29 30 31

NOVEMBER 2008

S M T w T F S

1

2 3 4 5 6 7 8

9 10 11 12 13 14 15

16 17 18 19 20 21 22

23 24 25 26 27 28 29

30


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13/48

D

oes it come as a big surprise

that a convicted elon

indeed, a white collar crim-inalwould have developed some

thoughts about the topic o ethics?

Probably not. Since my conviction, I

have had plenty o time to ponder the

idea o ethics, and Ive conducted some

research on my own about the subject. In doing so, Ive

received tons o advice. I must say, I wish Id had this

inormation at the beginning o my career.

In 1999 I began serving a 21 month ederal prison

sentence or conspiracy to commit mail and wire raud.

The crime involved our real estate investors submittingraudulent documentation in order to get approved or

residential home loans. I was their loan ofcer. Ater

the frst ew transactions, I knew in my heart that some

o the documents I accepted were akes. Over a nine

month period I gradually started participating in the

profts.

I have been told by some people that my crime was

raud lite. Some have said that I was unlucky; wrong

place at the wrong time. Well, there is no such thing as

raud lite, and luck has nothing do with making the right

decisions. I committed a crime. I am not proud o it andIm certainly no hero or talking about it now.

However, there is an ethics lesson to be learned in all

o this.

Dictionary.com defnes ethics as a set o principles o

right conduct.

My understanding o being ethical was that I base my

decision to do or not to do something on the eeling I get

in my stomach. I thats the case, how does someone teach

stomach eeling to someone?

Perhaps this logic is what led me astray.In a business Code o Ethics, one cant possibly

account or every situation. For every principle o correct

conduct; or every right way to act in one situation,

there is a dierent situation that ollows, that may require

yet a dierent right way to act.

I was traveling in my car with my boys, our and

seven years old. In the rear-view mirror I saw the older

one punch the younger one on the arm. The young one

howled, aaahhhhhhhhooooooowwwww-auh! I said,

Hey! Dont punch your brother. Immediately, the

older one slapped his little brother in the arm. I said,Dont slap your brother either. This was ollowed by

a poke, which I ollowed with, dont poke. A tickle

Dont tickle. Then just a touch. Finally, I said,

keep your hands to yoursel, period! The instigator

was reduced to leveling a taunting glare at his younger

sibling.

This could have gone on or hours. I fnally gave

them the ol, Dont make me come back there! (Which

o course made no sense since, I was driving.)

Doesnt this example prove that there are simply

too many variable situations in the real world? Yes, butthrough my experiences, I have learned that ethics isnt

about situations. It is about people and their behavior.

Ethics doesnt stand or what to do. It stands

or how to behave. Finally understanding this made

ethics less conusing or me. Not crystal clear, just less

conusing.

For employers and leaders, it is imperative that you

TheNicheReport.com

ETHICS: PERSPECTIVE OF A FELON

BY JEROME MAYNE

Strive to be honest, diligent and consistent


14/48

have a set o principles o right conduct. But to simply

disseminate this inormation in printed ormat will

not be enough. Ethics are best conveyed by example.

Additionally, violations o ethical standards must be dealt

with and not overlooked, or the unethical behavior will

become business as usual.I you are a member o an organization that adopts

a code o ethics, read the printed words and ollow the

examples o the leadership. Pay attention to the eelings

in your stomach. They may not tell you exactly what to

do, but it may serve as a red ag. Remember, justiying

questionable behavior is nothing more than being

dishonest with yoursel.

Here are my theories:

Leadyourethicsmodelbyexample. Followyourethicsmodelwithhonesty.

Followyourinstinct-itrarelytellsyoutodothe

wrong thing, frst.

Take this convicted elons experiences and words or

what theyre worth.. Strive to be honest, diligent, and

consistent. Society, your company, your amily, and your

children need you to stay out o prison.

Jerome Mayne is a keynote speaker and author. He has

worked with dozens o companies and associations around the

country helping their people make the right decisions, when

the right decisions arent easy. He is a member o the National

Speakers Association as well as the Real Estate Educators

Association. Hes the author o the book, Lie Saving Lessons

The Diary o a White Collar Criminal and co-author o

Mortgage Fraud and Predatory Lending what every agent

should know (Kaplan Publishing). Jerome can be reached at

[email protected]. www.raudcon.com

His books can be purchased online at

www.mayneelon.com/products.html 2007, Jerome Mayne

Had Mne Lansfm $100,000 t

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Financing is for business or investment purposes only, secured by real property.

Well help you put the pieces together.


15/48


16/48

FHASecure

BY LESLIE PETERSENWhat you need to know

My original assignment was to write abouthow mortgage brokers can take advantage o FHAs newHope or Homeowners (ondly nicknamed H4H by HUD) to help their clients who

are delinquent, underwater, or simply over their heads in mortgage debt. My assessment so ar is

that H4H isnt worth the paper its written on.The better FHA option is FHASecure, an alternative program that works amazingly well

FHA approved brokers and their homeowner clients who are currently in trouble. A huge glitc

that the entire FHASecure program is currently scheduled to expire 12-31-08; whereas H4

ongoing until 9-30-11.

I strongly believe that FHASecure will be extended, mostly, because it looks so g

politically not to mention that its actually working. However, I sure cant guara

it.

BRIEF OVERVIEw, HOPE FOR HOMEOwNERS (H4H)Beore I entirely dismiss it, its only air or me to tell you a l

about Hope or Homeowners. H4H was legislated by the HEconomic & Recovery Act, and is being highly publicized

Washington as the program that will save the economy

oreclosures. I beg to dier.

H4H became eective with HUDs thirteen p

Mortgagee Letter 2008-29, October 1, 2008.

parameters are quite complex and qualiyin

difcult. It may take some time or pri

to settle down, but interest rates will li


17/48

be the same or higher than those o delinquent FHASecure

loans. The Upront MIP (UFMIP) is three percent and the

annual premium is a hety one and a hal percent.

The nationwide loan limit is generous at $550,440;

however, the maximum LTV including all payos, the

three percent UFMIP, and all costs o the loan is only 90percent. Lenders are expected to waive their ees and cut

their payos to make it work. There can be no secondary

fnancing remaining.

H4H borrowers must sign two additional promissory

notes and mortgages with HUD, both recorded, which

share (a) the current ten percent equity in the home

(remember, its 90 percent LTV), and (b) any potential

uture appreciation. HUD will sometimes split some

o their portion o the uture appreciation with 2nd

mortgage lenders, yet never with the 1st mortgage holders.

Needless to say, this doesnt sit well with frst mortgage

lenders.

I cant ail to mention that per legislative mandate,

HUD wont insure the new H4H loan i the borrower ails

to make the frst mortgage payment; another ouch or the

lenders.

Personally, I dont think H4H is all that great a deal

or homeowners or lenders, in trouble or not. My guess is

that some o the larger lenders will use the program, but

only as a last resort. Mortgage brokers most likely wont

get involved in H4H loans at all, which brings us back to

FHASecure.

THE FHASECURE PROGRAMFHASecure has been around since August 2007,

when it was established as a Presidential Initiative.

Originally, it only helped homeowners who were

delinquent as a direct result o a reset in their conventional

ARM loan. On July 14, 2008, FHASecure was expanded

to include all o the ollowing:

Eligibilityrateandtermrenancesofconventional

mortgages only

Loanamountsfrom97.15percentto98.75percent

o new value, up to the maximum allowable FHA loan

limits in the area

Fullborrowerqualifyingwitheligibilityleniencies

CLTVOptionsforInsufcientEquityunlimited

CLTV to accommodate work-outs with current

lenders

Non-delinquentFHASecurestandardFHArates

and MIP or borrowers who need to get out o a

conventional loan yet are not currently delinquent

DelinquentFHASecureborrowerswhoare

currently delinquent on a conventional ARM loan

with many leniencies or prior and current mortgage

delinquencies

The point is to assist homeowners out o any

conventional mortgage that they need, and into a nice,

sae, FHA loan.

FHASECURE - MAxIMUM LOAN AMOUNTSThe maximum LTVs range rom 97.15 percent

to 98.75 percent, exclusive o upront MIP, up to the

maximum allowable statutory loan limit or the area.

Eective January frst, 2009, the new maximum LTV is

expected to be 100 percent, inclusive o upront MIP.(Final calculations are still being hammered out by HUD

as o this writing.)

FHASECURE - QUALIFYINGWith the exception o credit eligibility leniencies

as allowed by the program, all FHASecure borrowers

must ully qualiy or the new loan using FHAs standard

underwriting guidelines. FHA only wants borrowers

who are truly able and willing to make their uture house

payments; a homebuyer jumping rom one bad situation

into another helps nobody.

FHASECURE - INSUFFICIENT EQUITY - DELINQUENT ORNON-DELINQUENT

For homeowners who owe more than 100 percent o

the current value o their home, FHASecure encourages

work-outs with the current lender(s) by allowing

unlimited CLTVs or existing and or newly created

subordinate fnancing. Examples o work-outs include:

1. Existing secondary fnancing can be re-subordinated

or modifed to add outstanding charges or tootherwise accommodate the transaction.

2. A new second mortgage can be created by the

current lender (or other source) to

coverpayoffshortagesandpastduefeesand

charges, sometimes including PITI arrearages; or

coverallamountsthatexceedFHAscurrent

maximum loan limit or the area.

3. Funds or new fnancing can come rom any

TheNicheReport.com


18/48

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source, such as rescue unds which are becoming

increasingly available through non-profts, states, and

other government agencies.

There are restrictions on the terms o the secondary

fnancing that I havent covered (see ML 2008-13); even so,lenders are becoming more and more willing to negotiate

as opposed to paying the costs o oreclosure. Although

clients must always negotiate directly with the lender, the

new FHASecure loan wont come together without the

oversight and assistance o an educated and resourceul loan

originator.

Note: I the subordinate fnancing is a new loan as

opposed to re-subordination or modifcation o an existing

loan the lender will price the new FHASecure mortgage

using delinquent pricing, regardless o whether or not the

loan is delinquent.

FHASECURE NON-DELINQUENTNon-delinquent FHASecure includes all conventional-

to-FHA rate and term refnances that are not currently

delinquent. Whats great is that interest rates along with

FHAs upront and annual mortgage insurances are the

same as regular 203(b) mortgages, with the exception in

rates noted above.

In addition to all o the CLTV options above, the

FHASecure non-delinquent has some credit underwriting

leniencies. For instance, ML 2008-13, page 7, suggeststhat clients who kept their mortgage current yet let other

loans slide should be given avorable considerations.

Also, DE underwriters are encouraged to allow prior

mortgage delinquencies that were clearly caused by a reset.

No matter, the ultimate decision is still up to the DE

Underwriter and/or lender who oten impose their own

credit standards or minimum credit scores.

FHASECURE DELINQUENTFHASecure delinquent is or refnancing

conventional ARM loans only, and only i they are currentlydelinquent. (Prior delinquencies all under non-delinquent

FHASecure.) The delinquency must either be (a) caused

by a reset, or (b) the result o extenuating circumstances.

Option (b) is not available or those refnancing rom interest

only (IO) or rom Option ARM loans.

FHA has very specifc limitations on the amount o

times that the current loan can be delinquent, and or some

reason, they are much more tolerant when the loan is not

an IO or Option ARM. (Dont ask me?) Originators and

brokers must examine the homeowners prior mortgage

credit history at the very frst o the process to make sure

they qualiy.

FHASecure delinquents have much higher pricing

than regular 203(b) mortgages. The Upront MIP is thrpercent, though the annual is only 0.55 percent.

Any uture refnance o a delinquent FHASecure

must be ull-qualiying, as they are not eligible or

streamlined refnances. However, you can always look to

these borrowers or uture refnances at lower rates once

their credit history improves.

BOTTOM LINEWhenever Im speaking to an industry group about

FHA mortgages, I always review FHASecure as one o th

many viable niche products available. Its not unusual tohave one or two originators say that they are never able

to get FHASecure loan fles through underwriting; while

others in the same room have successully originated

FHASecure mortgages time and again. Im pretty sure

that the frst category lacks the education and/or patienc

necessary to make this loan workable.

For a copy o HUDs ML 2008-13, go to www.

hudclips.gov. Additional inormation and reerence chart

are also available through my website.

In the end, FHASecure is not a save-all. It wont hel

all o your clients who are experiencing difculties makintheir payments, but still, HUD reports a total o 325,000

FHASecure mortgages made as o August 2008, only one

year since inception o the program. H4H does not com

close to replacing FHASecure. Im not the only one who

will be highly disappointed and shocked i the program

isnt extended.

Leslie Petersen with over 30 years

experience in mortgage lending, writes

www.MortgageCurrentcy.com, an

online newsletter on the changes in

Fannie/Freddie, FHA, VA and other

regulatory agencies--but with a twist.

For Originators, Underwriters and

Managers, she also interprets them in

plain English and shows them how to make the rules and

changes work or them--and get more o their loans approve

Find her at [email protected].

TheNicheReport.com


20/48

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According to the latest edition o the PNC Economic

Outlook survey, business owners are more pessimistic

about their cash ow than they were six months ago:

Only 42 percent expect cash ow to increase over the next

six months, compared to 51 percent last all.

Regardless o your current cash ow situation, it

is a good idea to occasionally take stock o the cash

management tools at your disposal. Below are tips to helpyou and your commercial clients maximize cash ow and

make the most o your money:

Develop a Liquidity Plan: Does liquidity just

happen or do you have a plan in place to manage your

cash on hand? By creating a simple cash orecast to predict

when payments will come in and go out, you can anticipate

disruptions to your cash ow. Consider maintaining a line

o credit to avoid uctuations. And i you have signifcant,

predictable payments that occur inrequently such as tax or

insurance payments, consider a reserve und that you grow

on a consistent basis to neutralize the disruptions that thesedisbursements may cause.

Take advantage o technologies: The innovative

banks oer a variety o technologies that can help

manage your cash ow. Traditional services like credit

card processing speed up your collections. Corporate

cards help to consolidate and track spending as well as

make ewer, better timed disbursements. Remote deposit

enables you to deposit checks rom the convenience o

your ofce. Online payroll enables you to do your payroll

online anywhere that Internet access is available. Andautomated (online) access to investment balances and lines

o credit help keep your cash balance within a target range

Revisit your receivables strategy: Oering credit

discounts to your customers may be a competitive

requirement in your industry, but be sure to examine these

practices closely. How much fnancing are you providing

to your customers? Is every customer treated exactly the

same? Are slow payers getting a ree ride while you are

searching or some liquidity relie o your own? When you

look closely at this element o your business model, you can

usually identiy some opportunity to improve cash ow.Seek out inventory opportunities: According to the

PNC survey, 61 percent o business owners expect the

prices they pay their suppliers to increase. Assess your

inventory needs careully, evaluate your mix o suppliers

and possibly renegotiate trade terms. Inventory always

creates pressure on cash ow and now may be the time to

reevaluate your practices.

Managing cash ow is one the most important

things small business owners can do. Poor cash ow is a

leading cause o small business ailure. By revisiting your

contingency plans, leveraging technologies and managingthe actors that create cash ow pressure, you are better able

to protect your business through the good times and bad.

Gretchen Underwood is Assistant Vice President o the

Commercial Banking Group at PNC Bank in Manassas,

Virginia. To fnd out i you have the best solutions or the

changing needs o your business, contact Gretchen Underwood

703-472-8670, or email her at [email protected]

MANAGING PEAKS AND VALLEYS

BY GRETCHEN UNDERwOOD

Tips to help you manage cash ow


22/48

Lets face it; things arent looking so good right now.

In uncertain times like these, your clients need guidance, expertise and

experience more than ever.A hard money commercial loan may be the ideal way for your clients to seize anopportunity or solve a problem. Despite these difcult market conditions, Avataris nancially stable and has plenty of capacity to fund commercial loans from$1,000,000 to $20,000,000+.

So if youre ready to deal, were ready to listen.

Call us today at 888.896.0083 to discuss your loan orvisit www.avatarnancial.com for more information.

Hard moneyfor hard times.

A different kind of loan. A different kind of lender.


23/48

T

his is no secret, times are

tough or many in our chang-

ing industry. How do we all

keep up? I recently wrote an article onthe ew orms o marketing still work-

ing. What happens when you exhaust

all those eorts and have truly tapped

into every outlet you have? Where do

you go rom there? I have the answer or you, diversif-

cation. I talk to a lot o olks that are currently suc-

cessul in this market. Many o them have some variable

o this same concept diversifcation - in their business

model, and thereore, able to oer many services to each

and every potential client they run into.

In order to provide quality fnancial services withphenomenal customer service you must have a wide array

o options, in act, the more options you have the bet-

ter. In todays market with current lending conditions,

limited lenders, plummeting values, credit issues, ailing

banks etc it is much harder to convert those 2 - 5 deals

per month needed to maintain the same type o income

generated in past years. What do you do with the olks

you cant ref? Some LOs are now doing loan modifcation

reerrals, some are also doing credit repair or their clients.

My advice would be to network yoursel with as many di-

erent people, rom as many dierent areas o the fnancialservices industry.

Credit repair as mentioned above, may be o-

ered to clients by reerring out to an agency. I you are

not helping your clients fnd this option you are loosing

money every day. Not only do most credit repair agencies

pay reerral ees but they also reer back to you the client

once credit is restored enough to get the loan completed.

Find at least one company (preerably two or three) you

can work with on this level.

Loan modifcation again, this one is mentioned

above. Help your turndown clients who need it themost beore they loose their home completely. Reer

them to a loan modifcation company that will negotiate

new terms on their current loan with their current lender.

Most o these companies will pay you handsomely or

these reerrals, which is income on potential clients you

normally would not be able to help.

Short Sales With values in the toilet nationwide

there have never been a higher number o Short Sales.

I you do loans in any o the value stricken areas o the

country or i you work any ARM databases you will

certainly run into olks that are upside down in theirhome, to the extent that a Short Sale may be their only

option. Go and fnd an aggressive, reputable Realtor

ocusing only on Short Sales. Help your client get out o

their mess and build yoursel a solid relationship with a

Realtor at the same time.

Debt Settlement Some home owners are having

the most issues with their revolving debt. In years past,

we would roll it into the new mortgage during a ref

and move on, but in todays market, its near impossible

to fnd borrowers with enough equity to do so. I

Refnancing is not an option, try and settle the debt orpennies on the dollar or your client. Reer them to a

legitimate debt settlement company; take your reerral

ee i one exists, and move on to helping your next

client. Ater their debt has been settled, you will most

likely have a happy client that may use you in the uture

or even reer you business.

Bankruptcy Lawyer Unortunately, some people

DIVERSIFICATION

BY RAYMOND BARTREAU

When opportunities present themselves

TheNicheReport.com


24/48

are to the point where they only have one option - and

that is bankruptcy. Build relationships with lawyers that

perorm these Bankruptcies, they are an excellent source

o income. They love reerrals and dont mind reerring

people back to you that may need your service. Its always

good to have a reerral source to add to your menu.In my experience, through dealing with over 1200+

Loan ofcers every month, is that the successul ones

have this network already built and is fne tuning this

network day in and day out. While you are working your

day to day marketing or advertising options, take your

response and put them in the right hands or whatever

service they may need. I you cant help them refnance or

meet their loan origination needs, help them and get paid

in another way. Most loan ofcers strive to make 10k+

plus per month, this is still possible, even in this market,

IF you diversiy yoursel and oer more to help yourclients.

From a consumers perspective, i you have all the

answers or me, I will remember you over the next guy -

you can bank on that. People want ull service, whether it

is rom the car wash or helping them obtain a mortgage,

AcuPen Financial is

a Specialized Commercial

Lender

focusing on small balance commercial real es

nancing from $100,000 to $5,000,000. Thr

multiple SISA and full documented programs,

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With over 20 years of experience within AcuPen

we strive to nd a solution for all your comm

scenarios. Please browse through our programs

and feel free to contact us via phone, fax or sub

sion form with any questions or concerns. We

thank you for visiting us here at AcuPen

Financial.

AcuPen Financial

6201 SW 70th St. 102

Miami, FL 33143

[email protected]

The PremierOne-Stop

CommercialMortgage

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Loan Amounts have been

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While prime is on the rise,AcuPen nancial oers Tier 1 &2 property nancing below 8%

With new exible underwritingcriteria, qualifying for 90% LTV

is now even easier

Phone: 305-666-1879FAX: 305-704-8348

and the more you can oer a client the more money youll

make.

Raymond Bartreau is the President o Best Rate Reerrals

and a nationally recognized marketing consultant. For more

marketing tips and techniques please visit Bartreaus blog atwww.loanofcerconsultant.com. You can also visit Bartreaus

homepage at www.bestratereerrals.com.


25/48

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ONE BORROWER AT A TIME

Metro Funding CorporationOne Kalisa Way, Suite 310

Paramus, NJ 07652

For more information,

call toll free (866) 302-6360or visit our website:

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Recent Closings:Condo ConversionRenance

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Kissimmee, FloridaBroker Commission:$55,240

Mixed-Use Complex &Restaurant

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Becker, MinnesotaBroker Commission:$79,500

Bed and Breakfast

$2.6 Million

Lenox Village, MABroker Commission:$52,000

Apartment Complex

$1.6 Million

Memphis, TennesseeBroker Commission:$24,000

Convenience Store and

Gas Station$4.1 Million

Gilman, IllinoisBroker Commission: $51,250

Golf Course Development

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DOING THE

IMPOSSIBLE

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Manaseh,Epharim

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Direct Private Lender

www.MEANDASSOCIATES.COM770-840-0112 or 770-840-0113

Fax: 678-302-6444

Your source for commercialreal estate financing.

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Had Mne Lansfm $100,000 t $1,500,000

Minimum Credit 400 No seasoning No up front fees 48 hour closing

Lendng Tet ncldes DE, MD, DC, VA, NC, SC, GA and FL.

ALL LoANS For buSiNESS or iNVESTMENT purpoSES oNLy

For an immediate online approval and commitment letter,go to WWW.FMV1.COM and fill out our loan qualifier.

First Mount Vernon is a privately-owned, equity-based lender which specializes in lending to borrowerswho cant secure funding from traditional financing sources. Loans typically funded within two business

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6019 Tower Court, Alexandria, VA 22304Phone: 703-823-6800or 866-902-FMV1 (3681)Fax: 703-997-2499Paul Fogle or Art Bennett

Well help you put the pieces together.


26/48

Chris FuellingBusiness Development

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[email protected] Free 877-812-4327

Direct 786-735-1188

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RESIDENTIAL:

Firsts up to 800K--60% LTV or less

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27/48

The traditional loan ofcer has aced many

obstacles and has been orced to utilize every

tool available to reach the masses. Instead o

relying on the basic ace-to-ace relationship with real-

tors, builders and past clients, new levels o innovationhas elevated the loan ofcer to becoming a Mortgage

Market Strategist. It means thinking outside the box

to gain clients.

Call capture is a unique tool. For mortgage

originators, the process records and tracks phone calls

24 hours a day rom prospects. Call capture utilizes

technology that allows more contacts with less eort.

As a means o building relationships, call capture

provides an opportunity to pass qualifed leads to your

best reerral sources. Providing solid leads to those

proessionals with whom you align yoursel will helpbuild your sphere o inuence. It creates a tool to oer

your realtors, builders and or sale by owners (FSBO)

prospects extended opportunities to touch your best

clients.

How Does it Work or Realtors?Agents will have

the access to your call capture phone number that they

may use on their marketing literature and are given

specifc extensions or each o their listed properties.

These extensions are available or all o their marketing

material, such as reports, consumer tips, and inormation

on the property. Using the 1-800 technology has thecapabilities o increasing the agents calls received by 400

percent and can save up to 50 percent in their marketing

costs. The realtor has the responsibility o contacting

the prospects, providing inormation, answering their

questions and thanking them or their inquiry.

Agents may use these extensions or all o their

marketing material.

As eective as this tool is, making it available to

everyone is not practical. As part o your business

planning, clients should be broken into three categories.

A, B and C will be used to delineate clients and the

probability o purchasing a home. Cs may be ready

or purchase anywhere rom 4 to 12 months in theuture. They may be lookie-lous or serious buyers who

just arent ready at this moment in time. Periodic email

updates, with their permission, keeps your name in the

oreront o their mind. Be available to answer questions,

but dont spend a lot o time pursuing their business.

Bs are more likely targets. There has been more

consideration on the home buying ront and they are

serious contenders. Some additional attention should be

oered to them, through email, mailings and personal

phone calls. Their time rame is more likely 2 to 4 months

away and educating them in pre-qualifcation and pre-approval is appropriate.

As are the number one candidates. They are ready

to buy today. Full attention should be given to their

concerns. Frequent contact to these ready-to-buy clients

keeps you in the picture, and confrms your dedication to

customer service.

This process o contact delineation is also appropriate

or your proessional reerral sources. Every category o

work relationships can be catagorized into A, B or C type

prospects and will save you time and eort. It will also

help in identiying who will be the best candidate or the1-800 Call Capture marketing.

B and C leads will make up 90 percent o your

potential market. 75 percent o B & Cs will stay with

the frst contact that makes the time to educate them. 50

percent will buy rom someone in the next 3 to 9 months.

Call capture helps drive those potential clients to you.

Those Bs and Cs are looking or product inormation,

current rates, help with pre-qualifcation and pre-approval

CREATING A 1800#CALL CAPTURE LEAD MACHINE

BY TOM NINNESS

More contacts with less eort.

TheNicheReport.com


28/48

and ways to improve their credit.

Call Capture and the Prospect. Call capture listings

pique the prospects interest; they see that the inormation

is available 24 hours a day and they can listen to the

inormation at their leisure. I they choose, the prospect

can have the inormation axed to them or they canbe directed to the agent. The agent is notifed directly

about the interested property and the prospects contact

inormation is emailed or text messaged to the agent, even

i the phone number is unlisted.

Working with Builders. 1-800 Call Captures allows

sales coverage or a builder 24 hours a day, giving specifc

extensions on dierent models. It provides inormation,

even beore the sales trailer is up and running.

Working with FSBOS.Oering the FSBO the

technology or prospects to learn about the home or sale

also opens the possibility or assisting the home seller inhis or her next purchase. All inquiries will be directed to

you and allows you the chance to speak with the prospects,

encourage pre-qualiying and make that important

connection, even i the prospect doesnt buy rom the

FSBO.

Although Call Capture costs a small amount per

month, the marketing value and benefts or the loan

ofcer is huge. Oering this service to realtors, builders

and FSBOs immediately creates a practical customer

service oriented relationship at a minimal cost. As your

clients learn to utilize the Call Capture eatures, it willelevate you and promote you as their lead loan originator.

The ollowing is a list o reports that the loan ofcer

may use as a value-added eature or customer support:

Forexpiredlistings-How to Guarantee youll get your

Home Sold this Time! ForFirstTimeBuyers-Special Report-How to Buy Your

First Home the Easy Way!or Free Report-How to Stop

Paying Rent Foreverand Own a Home o Your Own!

ForInvestors-Avoid 12 Common Mistakes Made by

Novice Investors and Guaranteed High Rates o Return! Forthoselookingforamortgageinthefuture-Secrets

Lenders Dont Want You to Know! Read this 11-Point

Report Beore You sign Anything!

Readytolist-Ready to List with a Real Estate Agent?

13Things Your Agent Must Do To Maximize Your

Profts!

The ollowing is a list o 1-800 Call Capture

companies. Take time today to research how Call Capture

may improve your business.

Call Capture Providerswww.Realestategrowth.com - Known in the industry

as Proquest Technology. Great marketing ideas, reports and

ideas to increase your business.

www.Realmarcom.com - Excellent reports and articles

specifc to the mortgage industry

www.archtelecom.com - Industry Specifc and well

known in the mortgage industry

www.247callcapture.com - Marketing ideas specifc

to the mortgage industry

Tom Ninness is Vice President/Regional ProductionManager or Cherry Creek Mortgage in Denver, CO. Ninness

is also the President o Summit Champions, Inc. and creator o

the The 90 Day Journey to Your Sales Success, a powerul 90

day action plan or the sales proessional. To learn more about

The Journey and all what Summit Champions has to oer, go

to www.90dayjourney.com, www.summitchampions.com or

contact Tom at [email protected]

Ofce: 720-221-4396.2008 Gregory Funding LLC, an Aspen Capital aliated company. This is not a commitment to lend. Restrictions may apply. ForWholesale only. Not for distribution to the general public. LTV based on current valuation by Gregory Funding. Gregory Fundingreserves the right to amend rates and guidelines. All loans are made in compliance with federal, state and local laws. High-CostLoans prohibited. Gregory Funding LLC is an Oregon LLC, Oregon Division of Finance & Corporate Securities Lic#ML3575. GregoryFunding LLC, 425 NW 10th Ave Suite 307 Portland, OR 97209. Toll free: 888-324-3578.


29/48

CENTER STAGE

The Niche Report would like to

introduce you to a new mort-

gage wholesale lender Net-

More America who is building a next

generation mortgage banker throughthe power o the right relationships.

Mark Freedle, the CEO with the vi-

sion to start a mortgage business in

a very difcult environment, gave

us the opportunity to fnd out more

about this ast growing Walla Walla, WA based mort-

gage lender with plans on expanding their ootprint

throughout the United States.

Mark, what drove you to launch a mortgage company

in such a difcult lending environment?Mark: Back in 2005 when the mortgage business

was setting production records we saw the potential or

a correction in residential lending as lenders stretched

underwriting standards and non-prime ARM originations

increased dramatically. In February o 2006, I began

putting together a group o very senior mortgage

proessionals with strong underwriting and secondary

marketing experience to start building out our platorm

to be ready or the opportunity. We ofcially launched

NetMore in the third quarter o 2007 and unded our

frst loan at the end o October 2007. Today, we are theastest growing mortgage company in the Northwest, with

specifc plans on expanding our ootprint throughout the

United States over the next two years.

How big is NetMore today and where are you going in

the future?

Mark: Today, NetMore is ocused on two lines

o business; our wholesale lending channel and our

proessional branch system. We have approximately 150

employees and are licensed in 18 states. Our goal is to

move east strategically and be a nationwide mortgage

banker over the next two years. To help us mange our

growth, we are continuing to hire and we project thatduring the next 12 months we will hire well over 100

new employees. We just made some key senior hires,

such as Lisa Schreiber as our Chie Strategy Ofcer and

Scott Holtz as our new Regional Vice President, Eastern

Region. From a production perspective, we are projecting

ull year 2008 mortgage production to be well in excess o

$500 million, compared to just $14 million in 2007. By

early spring 2009 we are projecting approximately $250-

$300 million a month run rate. Our goal is to be a top 25

national lender in the next 24 to 36 months.

Tell us a little about your senior management team?

Mark: We have put together a very experienced

group o mortgage proessionals. Lisa Schreiber, our new

Chie Strategy Ofcer, her background is in building a

quality national lending platorm that is both scalable and

proftable. Julie Krause, NetMores Chie Operations

Ofcer, has more than thirty years o experience in the

mortgage industry and was one o the frst individuals to

get her Computerized Home Underwriting Management

System (CHUMS) number in the Northwest. Dan Ferris

our SVP o Secondary Marketing, also has more thanthirty years experience that includes a Master Certifed

Mortgage Banker (CMB) designation. This team with the

ull support o all o our employees has one goal; to build

a sustainable company together.

What do mean by a sustainable future begins with

the right relationships?

Mark: NetMore wants to work with proessionals

CENTER STAGE wITH NETMORE AMERICAA sustainable uture begins with the right relationsips

BY THE NICHE REPORT

MARK FREEDLECEO

TheNicheReport.com


30/48

CENTER STA

that clearly understand what it means to do the right

thing or their clients or partners day in and day out.

We believe there is tangible value in character and it is

the oundation o building a sustainable business. We

want to make sure we are always working or partnering

with the right people or organization that share our

core values o integrity, respect, accountability, orward

thinking and commitment to creating value. Through

the power o the right relationships, we believe NetMore

will become a leading next generation mortgage banker

and build a sustainable national platorm through

responsible lending.

Where are you seeing the opportunities in todays

mortgage market?

Mark: There are many opportunities that we seein todays market. First and oremost we see many

talented proessionals looking or work. This allows

us to employ the best o the best in our Leadership,

Account Executives and Operations sta. We have

already seen the value o a great team and the service levels

they can provide. Great employees in conjunction with

great technology solutions create customer satisaction

and loyalty that we can build on. We also see a real

void or the mortgage broker. Finding knowledgeable

wholesale lenders that are ocused on building theirwholesale presence in a sustainable manner is key to

their success. Our FHA expertise gives us a signifcant

opportunity as many competitors are still struggling to

gain FHA knowledge or hire DE underwriters. All o

our underwriters have their DE and we eel this gives us a

signifcant advantage in the marketplace.

How is your sales team navigating the current market

challenges?

Mark: For one, our industry is under siege. When

that happens, many people exit and even those thatare still employed are reluctant to go out on the street

and ask or new business. Surprisingly, we have hired

new and very seasoned Account Executives that are

telling us just that! By putting our program out there

with knowledgeable Account Executives backed up by

experienced and customer ocused operations, we see a

terrifc opportunity to grow our market share.

What makes NetMore different from other mortgage

lenders in todays market?

Mark: Our objective is to enable our lending partners

mortgage brokers and our proessional branch system, to

operate efciently and riction ree a model based on

service, speed and sustainability. We believe we have abetter understanding o the mortgage business and how

to execute with a signifcant strength and expertise in

secondary marketing, risk management, communication

and a commitment to being a true partner.

Explain to our readers what you mean by a friction

free process?

Mark: Friction Free means a lending platorm that

incorporates easy to access web-based portal, intuitive

processes where workows can be easily understood

and delivered, and risk mitigation applications that are

applied while still allowing the user to move orward

in the process with our end product being a complete

quality package or investor delivery. Through the use o

current web-based technologies and education, we will

ocus on our adoption rates to provide the biggest lit to

our organization.

What advice would you give mortgage brokers trying to

understand the FHA product segment?

Mark: FHA loans are more important than ever

and there are ew mortgage banking operations that have

NetMores experience in the FHA product platorm. For

many brokers, FHA was not a product that was in ocus

until ALT A went away last year. Many lenders and

brokers alike are still scrambling to get FHA approval

and even once approved, there is a learning curve that

has to be addressed. Experienced FHA lenders, such as

NetMore, are ew and ar between. It makes it essential

or brokers to partner with a lender that understands the

FHA origination process, has the right relationships, and

is committed to providing best in class service.

There have been some talk among brokers about how

difcult FHA is to work with and that FHA loans take

an extremely long time to process. Is this true?

Mark: This simply is not the case. FHA has made

signifcant changes to appraisal requirements and the work

items that were typical in the past have all but gone away.

Processing an FHA loan is no more time consuming

30 November2008


31/48

than typical fnancing. You just need to have the proper

upront disclosures and order your FHA appraisal through

the FHA Connection website. Here is where a brokers

partnership with the right lender, such as NetMore starts

to become extremely helpul. As you learn some o the

FHA nuances, the knowledge o your lender can help younavigate and make this process riction ree or both the

broker and their client.

What is some advice you can offer mortgage brokers to

be successful in todays environment?

The best advice anyone can give today is to evaluate

your business model by asking some key questions; What

is your origination strategy? Who are you partnering with

to help you weather the storm? Is your business model

ocused on you or are you relying on a lender that might

decide they dont want to play anymore? Who can oer

you both the education and deliver the service you need

to keep your business on track? Its all about relationships

these days and the right ones will make or break your

uture!

CENTER STAGE


32/48


33/48

B

eneft to you? Or beneft to the

customer? I you beneft, then

you are paid well on a closing.I the customer benefts, you do not

get paid so well. I you beneft, you

need to close less loans in the month.

I the customer benefts, you have to

work harder and close more. I you

beneft, your investors will like doing business with you

and you can typically receive better yield spread or rates.

I the customer benefts, you have to impress the investor

with volume to hedge the less avorable yield spread.

As you can tell, the tug-o-war o beneft is an

ongoing issue. Many brokers and originators have adifcult time with the ethical issues o drawing the line

o beneft to avor both themselves and the customers.

The happy compromise is typically a very thin line that

requires balance o a Cirque Du Soleil perormer to walk

it.

Bottom line, the beneft should go to the customer.

I you are in this business or the long haul, build a

reputation now as the mortgage banker who gives good

deals. Be the one who clients will reer. Build a lasting

relationship based on ethical standards and quality

customer service.I have written many articles on tips to provide the

customer with a pleasant experience mostly based on

personal interaction and amiable service. I have never

talked about the monetary aspect o the business. I do

not preach how to make a proft or which lender oers

the best yield spread, quickest underwrite time, or lowest

interest rate. Those are aspects o the industry that

you can ascertain as part o your OJT and through

the rigor o diligent lender-shopping. These are easily

learned and easily executed procedures. However, good

loans are ewer and ewer and making a healthy living ona third or a quarter o the typical business o three years

ago is now the reality. One must maximize each deal jus

to pay the bills!

Beneft, as I have written about in an article entitled

The Formula, (May 2008 Tip o the Month) I defne

as anything the customer receives in an exchange as a

result o the cost o doing business. The customers

perceived beneft in the transaction is value. I there is

no beneft, there is no value. Perhaps, the customers

greatest perceived value is the beneft you oer o the

lowest interest rates and the lowest closing costs. It mayalso be the riendliest service, requent contact, or the

act you remembered the amily pets name. I would

be presumptuous to say that money is not the most

important aspect o most mortgage transactions today.

Everyone who wants a mortgage wants a good deal.

The conundrum becomes the level o beneft that you

oer and the level o value the customer perceives and is

the two balanced to the satisaction o yoursel and the

client?

There is no perect science to this dilemma. In

act, you may make some poor decisions and lose somedeals as a result o the lack o beneft oered or executed.

The interest rate may be too high, the closing costs are

exorbitant, or you may not have called the customer

requently enough.

So here is my tip to hedge uture situations: Talk with

authenticity about the expectations o the loan process, the

ees and the interest rate, to your prospects during the initia

conversation. Set the standard rom the beginning. Cover

TIP OF THE MONTH

BY STEwART MEDNICK

Walking the thin line o Beneft

TIP OF THE MONTH

TheNicheReport.com


34/48

TIP OF THE MON

the two major aspects o beneft: cost o doing business, and

the business o doing service. The customer will not only

respect you or your candor, but will be relieved and eel

secure that you are providing quality service during a time

when the mortgage industry is highly scrutinized.

Everyone is eeling a fnancial squeeze regardless othe proession they pursue. Unemployment, gas prices,

ood cost and heat or the house are all some o the issues

weighing down on every home owner or potential home

owner. How rereshing would it be to have the mortgage

guy (gal) be the straight talker when we are bombarded

with political smear ads, campaign propaganda and news

about Wall Street executives golden parachutes and their

collapsed businesses?

Be the shining beacon o ethical business practices,

authentic customer service, and quality value-added

propositions in a current realm o uncertainty, ear, andfnancial collapse. Yes, you may not make as much as

you had hoped on the recent closing, but the client was

happy and that was the compromise necessary to get to the

closing table. We all have elt the pinch and had to check

or coins in the soa cushions just to eat lunch. But provid

beneft to each customer and as the business becomes

plentiul, you should be busy with repeat customers and

reerrals.

Sometimes we take a cut in commission. I suggest

not to cut beneft to the customer. Remember, this is a

marathon, not a sprint.

Stewart Mednick is a seasoned mortgage banker and

published author. His writing ocuses on relationship

development, personal empowerment, customer satisaction,

marketing and sales techniques. Stewart is available or

marketing consulting, personal coaching and training sessions.

I you have a comment or a question or Stewart, contact him

at 651-895-5122 or [email protected]

CAN YOU

OFFER FHA?

Experienced Loan Officers

And Branches Wanted.

Contact:

MATT [email protected]

(425) 641-4658 x117

100% COMMISSION SPLIT

Loan Officers PAID WITHIN 24 HOURSof funding

Only a $490 administration fee per file

Loan origination software provided atno charge by LoanAce: www.loanace.com

Licensed in 30 states

www.americaonefinance.net

You can with us


35/48

NICHE REPORTS

TheNicheReport.com

PRIME & FHA

Financing may not be available in all states. The above summaries are intended for Mortgage Professionals only, and not intended for distribution to consum-ers, as dened by Section 226.2 of Regulation Z, which implements the Truth-In-Lending Act. Information is subject to change without notice. Refer to eachlenders information on products, program, procedures, representations, and warranties for details.

Premium Listings

AHEDIRECT.COM/Freddie:TheRainMaker949-861-0911

AlternativeMortgageExpress801-671-2397

GreystoneFinancialGroup954-557-2457

HCIMortgage877-724-1720

JMACLendingInc877-841-0776

MidIslandMortgageCorp703.754.9643 - t d

TitanWholesale

877-90-t x. 225

UnitedWholesaleMortgage800-981-8898 x5638

WallStreetWholesale248-361-1908

f, f, fha, 24-48 h t ts

c ss fha, c, J, J fha/c, s.

conforming, fha Va, uSda, SiSa, combo loanS, lp leVelS 1,2 & 3

hci m szs fha 203k 25+ ss.ps 203, 203 s 203 j s

S 24 , 1

l/n S fha s. t fha s ok. n . SJ s. c ss / s.

w es (775) 303-3838 ; 866-922-6943 x, s@-s.

fha 24-48 hs av e ls. 24 hs cs. 24hs p cs ds. cs y l 5-6 bsss ds.cs v p. 95% cs m hs.free du ws.

cv/a J, fha/fha J, 203, m uw, 48 uw. 5 ps c is t!

AlternativeMortgageExpress 800-552-5263 www.amxloans.com

AMEFinancialCorp 770-406-2138 www.american-mortgage.info

AmeribankMortgage(FHAonly) 516-833-8834 www.ameribanksolutions.com

AmericanBancShares 305-817-2165 www.americanbancshares.com

AmericanFinancialResources(FHAonly) 973-588-8530 www.afrwholesale.com

AmericanHomeEquity 714-661-5836 www.ahedirect.com

AmericanPar tnersBank 954-465-8595 www.apbwholesa le.com

AmericanSterlingBank 801-208-5454 http://asbloan.com

AmtrustBank(Fannie/Freddieonly) 888-321-6446 www.amtrustgemstone.com

AssurityFinancial(FHAonly) 866-841-7863 www.assuritywholesale.com

BACFloridaBank(Fannie/Freddieonly) 305-789-8064 www.bacorida.com/ratesheet

BancoPopular 303-725-2169 www.bpnawholesale.com

BankofAnnArbor(Fannie/Freddieonly) 800-807-6337 www.boaawholesale.com

BankUnited 772-240-2550 www.bankunitedwholesale.com

CenturyLending(Fannie/Freddieonly) 407-252-7979 www.centurylending.net

ChaseHomeFinance 800-338-0487 www.chaseb2b.com

ChaseRuralHousing 954-422-1232 www.chaseb2b.com

ChevyChaseBank(Fannie/Freddieonly) 866-591-4355 www.chevychasewholesale.com

CMGMortgage 714-357-3325 www.acceleratedcmg.com

CNBNational Lending, LLC 815-412-9305 www.cnbnational lending.com

PRIME Lender Listings Powered by TheLoanPost.com


36/48

Colonial Nat ional Mortgage 800-825-131 1 www.cnmbrokers.com(Fannie/Freddieonly)

CommunityFirst BankLoan 412-292-8511 secure.pricemyloan.com/custom/cfb(Fannie/Freddieonly)

ContinentalHomeLoans631-393-3800x114

www.chlmortgagebankers.comCountrywide 904-245-8008 www.cwbc.com

DirectMortgageWholesale 801-924-1880 www.directmortgagewholesale.com

EasternSavingsBank 800-981-7114x6250 www.easternsavingsbank.com

EpixFunding(Fannie/Freddieonly) 813-654-7515x223 epixfunding.com/

Equirst(FHAonly) 856-979-9545 www.equirst.com

FederalTrustMortgage 407-323-1833x153 www.federaltrust.com/brokers

FifthThird 866-492-0072 www.53.com/wholesalemortgage

FirstBankMortgage 305-577-6000x116 www.rstbank.com

FirstCal 818-793-6650 www.rstcalwholesale.net

Fi rstFedera lBankofCA 310-630-7792 www.rstfedwholesale.com

FirstHorizonHomeLoans 702-822-4102 www.rsthorizonwho lesale.com

FirstMutualBank 971-645-9140 www.washingtonfederal.com/wholesale/

First NationalBankofNassau 678-942-2160 www.fnbwholesale.com/

FirstNorthernBank (Fannie/Freddieonly)707-423-9330 www.thatsmybank.com/FlagstarBank 800-897-7222 www.wholesale.agstar.com

FloridaCapitalBankMtg 866-295-0014 www.cb.com

FortKnoxLending 323-330-1362 www.FortKnoxLending.Com

FortesResidential 866-571-8201 www.forteswholesale.com/

FranklinAmerican 606-519-4165 www.franklinamerican.com

FranklinBank 936-681-8181 www.franklinbank.com/

FreedomMortgage 800-843-3753 www.freedomwholesale.com

GatewayFunding 800-355-5626 https://wholesale.gateway-funding.com/

Gateway Mor tgageGroup 817-799-0804 www.jerrylair.com

GBMortgage 602-791-8950 https://www.gbmortgagelending.com

GlobalLendingGroup 727-530-0110 www.glgiwholesale.net

GreystoneFinancial 602-574-0100 www.greystonenancialonline.com

GSFFunding 262-373-0790 https://www.gsfsales.com/

GuaranteedRate 866-755-0989 www.griwholesale.comHollanderFinancial 661-476-4668 www.hollandernancial.com

HomeSavingsofAmerica 972-235-7366 www.myhsoa.com

HSBC 877-433-4722 https://webloan.us.hsbc.com

ICONResidentia lCapita l 888-639-5641 www.i conwholesale.com

INGMortgage 877-464-0555 www.ingloans.com/wholesale/index.html

JMACLending 877-841-0776 www.jmaclending.com

JustMortgage,Inc. 714-860-8867 www.justmtg.com

LendersAdvantage 818-669-0974x0 www.lenderinc.com

LibertyLendingInc 800-808-5591 www.libertylendingwholesale.com

LibertyMortgage 800-986-2499 www.bbt.com/libertymortgage

LibertySavingsBank 941-735-7890 www.libertysavingsbank.com

LimeFinancial 407-923-3700 limenancial.com/index.shtml

M&TBankMortgage 804-380-7465 wholesalemortgage.mtb.com/

MangoBayMortgage 561-347-9811 www.mangobayinc.com

MegaCapitalFunding(Fannie/Freddieonly) 818-657-2600 www.megacapitalfunding.net

MeritMortgage 310-650-0773 http://meritwholesale.com/

MetLifeHomeLoans www.wholesale.metlifehomeloans.com

MortgageBankofCalifornia 714-423-3295

MortgageClose(Fannie/Freddieonly) 714-453-0220 https://b2b.mortgageclose.com

MortgageIT 503-716-1206 https://wld.mortgageit.com/Default.aspx

MountainWestFinancial 909-793-1500x255 www.mwnc.com

NationalDirectFunding(Fannie/Freddieonly)970-672-0805 www.ndfcorporation.com

NationalHomeLenders 888-344-0520x4 www.nationalhomelenders.com

NationsDi rectMor tgage 949-270-7974 www.brokerFHA.com

NetMoreAmerica 509-526-4007 www.netmoreamerica.com

NorthStarLending(Fannie/Freddieonly) 954-843-7018x7018 www.mynorthstarlending.com/

Ovation7 561-746-7858 www.ovation7.com/broker

PacicBancMortgage 571-340-5593 www.pacicbanc.com/

PacicNationalBank 305-539-7675 www.pnb.com

ParamountResidential(FHAonly) 866-966-8989x300 www.prmglending.net

PerfectFHA(FHAonly) 800-201-2317 www.perfectfha.com

PhoenixFunding 877-562-6414x230 www.phoenix-funding.com

PlazaHomeMortgage 949-910-1055x450 www.plazahomemortgage.com

PMCBancorp 626-964-4040x8199www.pmcmtg.com

PolarisFunding(FL,IN,MI, OH) 616-667-9000 www.polarishfc.com/

PopularDirect 800-692-3447x202 www.populardirect.com

PoulsenMortgage http://WeFundFHA.com

PreferredCapital(Fannie/Freddieonly) 727-418-4189 www.prefercapital.com

PremierMortgageCapital,Inc. 786-243-3101x2 www.premierwholesale.com

PresidentsFirst 877-773-7178 www.presidentsrst.com/

PrimaryCapital 678-308-0257 www.primarycapital.com

ProtoFund 813-436-6803 www.protofund.com

ProvidentFunding 800-733-3657x1712 https://poans.provident.com/

ReliantFunding 412-942-1010x18 www.reliantfunding.us

ResidentialLendingNetwork 800-749-5363x5276 www.reslend.com(Fannie/Freddieonly)

ReunionMortgage 559.476.0937 www.reunionwholesale.com

RoyalCrownBancorp 877-507-6925 www.crownloan.com

SecurityAtlantic(FHAonly) 800-956-3863 www.fhaland.com

SecurityMortgageFunding 619-249-9166 www.smfcloans.com/brokers/ (Fannie/Freddieonly)

SecurityNational Mortgage 619-857-2700 www.securitynational .com

SenderraFunding 704-831-3600 www.senderra.comSierraPacic 661-713-6564 www.spm1.com

SouthPointFinancial (Fannie/Freddieonly) 239-949-1406 www.spfs.com

Stearns 925-628-0704 www.stearnswholesale.com

SunTrustWholesale 913-982-2150 www.stmpartners.com

SWCFinancialCorp. 714-680-7050x113 www.swcnancial.com

Taylor,Bean&Whi taker 888-678-8547 www.taylorbeandirect.com

TheJumboLender 800-826-0360 www.TheJumboLender.com

TheMoneyStore 818-326-2217 www.themoneystore.com

TitanWholesale 775-852-6888x225 www.titan-wholesale.com

TrustOneMortgage 949-450-1888x2430 www.trustone.com

U.S. Bank ConsumerF inance 941-539-1603 www.usbank.com

United International Bank 313-903-2082 www.unitedinternational .us

UnitedResidential Lending 404-661-4632 www.urlending.com

UnitedWholesaleMortgage(FHAonly) 800-981-8898x5590www.usmwholesale.com

Vertice 925-570-0777 https://www.verticelending.com/

VillageCapitalandInvestment(FHAonly) 856-252-1825 hwww.villagewholesalelending.com

WallStreetWholesaleLending 856-446-2998 www.wallstreetwholesale.com

WCSLending(FHAonly) 561-241-5200 www.wcslending.com

WellsFargo 310-283-8411 www.brokersrst.com

NICHE REPOR

36 November2008


prime l lstgs tu


37/48

LuxMac,Covino,andCompany 800-762-2274x312 http://luxmac.com

LuxuryMortgage 203-569-4249 www.luxurymortgagewholesale.com/

MaitlandMortgage 407-629-5626 www.maitlandlending.com

MegaCap ital FundingInc 818-657-2600 www.megacapi talfunding.net

MeritMortgage 310-650-0773 meritwholesale.com/

MetroCit iesWholesale 714-241-5882x122 www.metrocit ieswholesale.com

MFCMortgage,Inc 877-562-6754 www.gomfc.com

MortgageClose 714-453-0220 b2b.mortgageclose.com

MortgageIT 503-716-1206 wld.mortgageit.com/Default.aspx


NorthStarLending 954-843-7018x7018 www.mynorthstarlending.com/

OnlineFinancialGroup 703-307-7006 www.ofglending.com


Paramount Res idential 866-966-8989x300 www.prmglending.net

PhoenixFunding 877-562-6414x230 www.phoenix-funding.com

PlazaHomeMortgage 949-910-1055 x 450 www.plazahomemortgage.com

Portfo lioMortgageCompany 480-775-5150 www.portmort.com

PreferredCapital 727-418-4189 www.prefercapital.com

ProtoFund 813-436-6803 www.protofund.com

QuikFundInc. 813-671-0712 www.quikfund.com

RehabFunding 610-645-9939x310 http://rehabfunding.com/

RightStartMortgage 800-520-5626 www.rightstartmortgage.com

RoyalCrownBancorp 877-507-6925 www.crownloan.com

SecurityMortgageFundingCorp 619-249-9166 www.smfcloans.com/brokers/

SouthTrustFunding 813-363-2768 http://southtrustfunding.com

SWCFinancialCorp. 714-680-7050x1 13 www.swcnancial.com

TheJumboLender 800-826-0360 www.TheJumboLender.com

TrustOneMortgage 949-450-1888x2430www.trustone.com

United International Bank 313-903-2082 www.unitedinternat ional.us

UnitedResidentia lLending 404-661-4632 www.urlending.com

USBank 702-630-0770 www.usbank.com

USEqui ty Broker Di rect 901-239-3339 www.usequitybroker.com

Vertice 925-570-0777 www.verticelending.com

WestOneMortgageCorporation 818-921-7602 www.westonemortgagecorp.com

NICHE REPORTS

TheNicheReport.com


NON PRIME & ALTA

CapitalManagement480-575-1782

GregoryFundingLLC888-324-3578

MidIslandMortgageCorp.703-754-9643 - t d

c s s s, s

d p sz s s. nod bk ok. n c S. n p- p. u 75% ltV. l s $1mm. l : aZ, ca, co, id, nV,or & wa

l/n S fha s. t fha s ok. n . SJ s. c ss / s.

Premium Listings

NON PRIME & ALT-A Lender Listings Powered by TheLoanPost.com

ReverseIt!AdivisionofUrbanFinancialGroup,Inc888-777-3311

WorldAllianceFinancial877-692-7762 x 404

rvs ms, ss s s. t s v.

rvs m -fha s s

Premium Listings

REVERSE MORTGAGES


38/48

NICHE REPOR

38 November2008



HARD MONEY

AllCaliforniaHomeLoans877 462 3422

AmbitFunding800-823-7101

AFGLLC(AssetFundingGroup)720-889-1175

AFGLLC(AssetFundingGroup)720-889-1175

AvatarFinancialGroup888-896-0083

BRTRealtyTrust516-466-3100 800-450-5816

ContinuumFundingGroup703-564-1659

c rs , c s, x ltV65%

S- s; ms s raw land; a 50 ss, c; mx ltV 70%, 50% l

n w ls $300 $3 faSt-fair- fleXible

d - 70% ltV: b s, s & ,s , , s qs.n $300 $3 , 24 s ss 5 s s. hard money- made eaSy

b s v s $1 , s s s. w s . a .v. sv s

a p m reit t nySe (nySe: brt) fs ss

s $2 $50 s . n s, x s

Sz s $300,000 $5,000,000 dc,V, m. w sz s ss

Premium Listings

AmericanBancShares 305-817-2165 www.americanbancshares.com

Arl ingtonCapi ta lMortgageCorp 800-8 14-9432 www.acmcwholesale.com

CircleMortgageCorporation(Flonly) 800-576-1338 www.circlemortgage.com

Con ti nenta l HomeLoans 631 -393 -3800x 114 www.chlmor tgagebankers.com

CountrywideBank 866-212-4378 www.cwbc.com

EssexMortgage 702-893-9200 www.essexwholesale.com

FinancialFreedom 800-500-5150 www.nancialfreedom.com

FinancialHeritage 800-895-2209 www.nancialheritage.com

FirstHorizon 888-553-8929 www.rsthorizonwholesale.com

FortesResidential 866-571-8201 ww.forteswholesale.com/

GenerationMortgage 866-733-6089 www.generationmortgage.com

GotMortgage.com 760-802-9630 www.gotmortgage.com

L iberty Reve rse Mor tgage 866-87 1-1353 h ttp :/ /l iberty reve rsebroke r.com

MetLifeHomeLoans www.wholesale.metlifehomeloans.com



Quali ty L ifeReverseMortgage 800-955-7919 http://quali ty li ferm.com/

QuikFundInc. 813-671-0712 www.quikfund.com

SilvergateBank(cml) 858-362-6300 www.silvergatebank.com

SouthPointFinancia lServices 239-949-1406 www.spfs.com

Sunwest 800-453-7884 www.swmc.com

Well sFargoReverseMortgage 800-336-7359 http://www.wel ls fargo.com

WorldAl li anceF inancial Corp. 800-562-6755 www.wor ldal li ancenancial .com

REVERSE MORTGAGES Lender Listings Powered by TheLoanPost.com


39/48

NICHE REPORTS

TheNicheReport.com


FairviewCommercialLending866-634-1270

FinancialResourcesMortgage603-279-1133

FirstMountVernon(866) 908-fmV1 (3681)

FirstMountVernon(866) 908-fmV1 (3681)

GregoryFundingLLC888-324-3578

LJLFunding888-456-0246

Manaseh,Epharim&Associates770-840-0112

MetroFundingCorp866-302-6360

MinerCapitalFunding,LLC702-466-8952

RemingtonFinancialGroup,Inc480-905-3239

StonecrestFinancial888.884.6518

TrustCapitalInvestmentsLLC301-503-2231

n s, s s, Q css s 24 s

r es s v . c & rsivs. r s . r,,-, ,v & s ss. c ss. n s! e .

n ss qs, n ss s,m s 400

m q, c l--Vs 105%

d p sz s s

. nod bk ok. n c S. n p- p. u 75% ltV. l s $1.0mm. l : aZ, ca, co, id, nV,or & wa

fc bs - n fico qs. fs s s. t . css gs -g Sv!

pv s vss

fs s, s , s ,qss, s, v s

Sz -s s s . w s!! as s s 4 s! l s 1 20

u 65% v , s s

w sz s, x-s, s &

s

l (dc, md Va) sz , s, sss s. ls s sj v, 50%ltV, , eQuity driVen fico ssv. bs .

hard money u s tu


40/48

NICHE REPOR

40 November2008


Financing may not be available in all states. The above summaries are intended for Mortgage Profes

Documents

Final November Online