In This Issue… 1. Developing a System to Get the Job Done 2. Mortgage Industry Events 3. Complete Mortgage Processing Training Events 4. Question of the Month 5. Tell Us What You Think
A resource in your pocket is like money in the bank. It will help you get through the worst of times without losing your sanity. The more resources you have, the easier it is to get the job done. A resource can be anything or anyone that helps you to work more efficiently. The success of your career as a mortgage professional sometimes hinges on your ability to avail yourself of the right resource at the right time. Give consideration early on to how you will meet your business objectives daily and then what you will do at crunch time. And believe me, crunch time will come. Here are a few examples:
Task/Project > Standard Procedure > Expedited --------------------------------------------------- Shipping > Regular mail > Overnight mail Prequalification >Fax or e-mail > Online submission Closing docs >Overnight mail > Same day e-mail Application docs >Mailed out > E-mail to borrower Closing/signing >Title Co A > Title Co B or Mobile Credit errors >Dispute=30 days > Rapid rescore(72 hrs) VOEs >Phone or Fax > Automated VOE U/W delays >Inquire by e-mail > Call U/W Manager
In addition to knowing alternative ways to get things done quickly, you should also have an arsenal of resources for daily use. Here are a few that are very handy:
• Pre-filled forms and templates • Internet resources for industry news and events • Lender website directory with access codes • Quick reference sheets (underwriting, pricing, programs) • Phone directories (speed dial and standard) • Continuing education resources • A mentor (or two) to consult with • 2-4 lenders that can deliver the results you need • A backup for necessary resources: staff and equipment • A tech support person or service that responds quickly
The better prepared you are for the daily grind, the better you can address urgent matters as they arise. For more tips and tools for building an effective support system, visit our website at www.completemortgageprocessing.com. ------------------------------------------------------- MORTGAGE INDUSTRY EVENTS:
Apr 05, 2006 - Apr 06, 2006 South Florida Facilities Expo Broward County Convention Center, Ft. Lauderdale
Apr 08, 2006 - Apr 09, 2006 Trump Real Estate Expo – Los Angeles Los Angeles Convention Center, Los Angeles
Apr 13, 2005 - Apr 16, 2005 REIPA/NPRRA Joint Conference Coronado Island Marriott Resort San Diego Coronado, CA
April 18, 2006 California Association of Mortgage Brokers (CAMB) North Los Angeles Burbank Hilton Hotel 2500 Hollywood Way Burbank, CA
April 19, 2006 Free Construction Lending Seminar Hilton Garden Inn Las Colinas 7516 Las Colinas Boulevard Irving, TX
April 19, 2006 West Coast Chapter Tradeshow Florida Association of Mortgage Brokers A La Cart Pavilion Tampa, FL Apr 21, 2006 - Apr 26, 2006 American Congress on Surveying and Mapping ACSM Spring Conference Caribe Royale Resort Suites Orlando, Florida
April 25, 2006 The Nations Fair Lending Laws & Shedding the Light on Credit Scoring New York Association of Mortgage Brokers Melville Marriott Melville, Long Island, NY
Apr 27, 2006 NJ Building Show and Conference NJ Convention Center Edison, NJ
April 27-28, 2006 Federal Preemption: Law, Economics, and Politics American Enterprise Institute for Public Policy Research Wohlstetter Conference Center, 12th Floor Washington, D.C.
April 30- May 3, 2006 MBA's Legal Issues/Regulatory Compliance Conference Mortgage Bankers Association Desert Springs, A JW Marriott Resort & Spa Palm Desert, CA
Apr 30, 2006 - May 05, 2006 ABA Wealth Management Academy Emory Conference Center Hotel Atlanta, GA
======================================================= REGISTER FOR TRAINING TODAY:
Learn how to eliminate closing delays and be more productive everyday. Join us:
April 7th in Livonia, Michigan Visit our website for class details: www.completemortgageprocessing.com/lvtraining.html
***************************************************** QUESTION OF THE MONTH
Q. I have a file that won’t work with the current lender because the borrower has a notice of default (NOD). How can I find another lender quickly where I won’t experience the same problem again?
A. Since you’re in need of something quick, we suggest trying these options: 1. Use a loan placement assistance service like Lender Lab or Lion, Inc. 2. List a few details for your loan on a mortgage blog and follow up with lenders that respond 3. Ask your peers or office manager for suggestions.
Secondly, you’ll want to incorporate a step in your loan analysis to prevent this from happening in the future. A credit report that reveals a 90-day delinquency will let you know that a NOD has been sent or will be soon. You will want to review your lender’s underwriting guidelines before you submit the loan. Whenever possible, use the lenders automated system to pre-qual or pre-approve your customer. If you’re still not sure, pick up the phone and call your lender.
========================================================== TELL US WHAT YOU THINK
If you have already purchased our Loan Processor In-A-Box® workbook or used our other training resources, we’d love to
hear from you. Let us know what has helped and what you’d like to see more of. Leave a message at our Feedback line at 1 (800) 609-9006 x2128 or just click here to submit your comments online. You can also send us an e-mail to processinghelp@aol.com or fax us at (702) 543-5397.
