The Newsletter for the Top Mortgage Originators

Conference Calendar

Featured Buyer's Guide Category:

Software- Document Preparation

Do you need doc prep software?
Click here to see listings in the Software- Document Preparation category.

For online listing info for the Buyer's Guide, Call Steve at 866-752-7966 or send an email to steven.gallego@sourcemedia.com

Technology OpenClose Finds Good Technology is Still in Demand By Anthony Garritano WEST PALM BEACH, FL - Despite the downturn, when a form of technology offers a clear competitive advantage, it's still finding buyers. Right now, that category includes robust, transactional website technology. Brokers need to be online and they need to offer online shoppers more than an online 1003. As an example of the inherent need for this type of technology, in a year that more mortgage companies and vendors closed their doors, OpenClose has made advances. Why? In March of this year, the developers of Web-based, loan origination system software, released the AssistSeries. The company reports that the number of customers using the series of products currently exceeds 300 companies. These lenders, credit unions, banks and brokers selected the AssistSeries, which is comprised of LenderAssist, DecisionAssist, ConsumerAssist, MemberAssist and BrokerAssist. Read more...

Loan Officer Formula for Success Are You a "One Timer?" By Brian Sacks All month we've talking about the little things that combined help you convert more prospects into closed deals. You know the subtle things that attract clients to you and then make them want to do business with you. This week I we'll wrap it up and talk about the most important piece of this puzzle - following up. We all try so hard to get someone to contact us but we miss that one key ingredient that gets him or her to do business with us. What a shame. I know it's human nature to want instant gratification but you have to realize that buyers will buy when they are ready to, not when we want them to. Read more...

What We're Hearing Daily

In less than 24 hours the nation will know how far below the 2% minimum capital threshold the Federal Housing Administration's single family insurance fund has fallen. To date, FHA commissioner David Stevens has maintained that the agency will not need a government bailout a la Fannie Mae and Freddie Mac. The insurer is tightening its loan guidelines and cracking down on what it feels are sleazebag lenders using the government eagle. One thing can be said in FHA's defense -- at least it hasn't been backing high balance 'liar loans' like the private sector did during the 2003 to 2007 boom. And unlike Wall Street, FHA actually requires lenders to underwrite the loans they fund. Of course, with home prices falling between 20% and 50% in some once hot markets the past two years, it stands to reason that FHA's book-of-business will indeed suffer. Meanwhile, by now you've seen the reports that Goldman Sachs is talking to Fannie about buying $1 billion worth of low-income housing tax credits from the government-controlled GSE. Fannie cannot use the credits because, well, you need to actually earn money to use such an off-set. Goldman, on the other hand, is making money hand-over-fist. For the nation's tax collectors the issue might boil down to this: if we let Goldman buy the tax credits (at a discount) that means a Wall Street firm that received TARP money will be able to pay Uncle Sam less money in taxes at a time when Uncle could really use the money...

See Paul's weekly column here.

News Headlines

Related Newsletters

• Daily headlines with breaking news stories about the mortgage industry
• Sample issue
• Signup page

• Weekly newsletter about mortgage fraud and how to prevent it.
• Sample issue and signup page.

• Biweekly newsletter for REO managers on making foreclosed property profitable.
• Sample issue
• Signup page

• Mortgage servicing headlines, three feature stories and some useful statistics, twice monthly.
• Sample issue
• Signup page

• Mortgage technology headlines, feature stories and survey-based statistics, weekly.
• Sample issue
• Signup page

This message was originally sent to %%emailaddr%%.
If you no longer wish to receive BrokerUniverse, send a blank e-mail to %%email.unsub%%