smbrpcv asked:


From the news media, there are a lot of home foreclosures from mortgage companies such as Countrywide. The employees who write these loans have business degrees and experience in home mortgages yet they go ahead and create and approve loans that can’t be repaid! Can anyone explain to me why would any business do something like this?

Agnes

Sean asked:


Granted you’re supposed to do your own research but what happens when a mortgage company convinces you that your fears and your worries are unfounded. Many people did have reservations about refinancing and purchasing homes with these sub prime mortgages, however these lenders really made it their business to prove it was a good move. Why would you take advantage of people regarding something this serious?
Jessica: looks like you were absolutely right! lol Good call.

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Jay Conners asked:


If you are a mortgage broker or loan officer looking to purchase mortgage leads, your best bet for a quick turn around time on a mortgage is with the refinance mortgage leads provided by mortgage lead companies.

This is not to say that you can’t have a quick turn around time with purchase mortgage leads, you can. But, as you well know, refinancing a customers mortgage can be done in a very short amount of time. Some as little as three weeks.

Here is something to consider when looking around for mortgage leads and mortgage lead companies.

Keep an eye out for the mortgage lead companies that sell their mortgage leads fresh or in real time.

It is pretty much pointless to purchase a refinance mortgage lead that is weeks or even days old.

Most likely the customer is already working with another loan officer or mortgage broker and is half way through the mortgage process.

Also, make sure you find out how the mortgage lead companies obtain their mortgage leads.

Look for the mortgage lead companies that obtain their mortgage leads through web sites they own and operate.

Otherwise, they are obtaining the mortgage leads from third party mortgage companies and recycling them.

The last thing you want or need is a mortgage lead that has gone through the hands of half a dozen or more loan officers and mortgage brokers.

Remember, you work very hard for your money, so be sure that when you invest with a mortgage lead company that you will be getting what you paid for and closing deals.



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bgsimsrvp asked:


The individual took the loan out quite awhile back, when she was a struggling single mother. Now she is making around 80K per year, and doing fine. Wants to refinance so as to consolidate debts into a low interest, low payment fixed loan. The prospective mortgage companies won’t touch her existing loan due to the fact that it is a USDA loan.

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