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Add You - 37 Mortgage Insiders Shopper Tips - The Run, Don't Walk Checklist
Are You in Compliance with 1910.178(g)(2)1910.178(g)(2)“Facilities shall be provided for flushing and neutralizing spilled electrolyte, for fire protection, for protecting charging apparatus from damage by trucks, and for adequate ventilation for dispersal of fumes from gassing batteries.”Battery acid spills pose safety and environmental threats. Leakage of the lead and sulfuric acid found in batteries contribute to worker injuries, fire, hydrogen explosions, and groundwater and soil contamination.Due to the damaging effect acid has on eyes, skin and mucous membranes, acid spills can pose a serious danger to human health. Prolonged exposure can even cause life threatening injury.Proper spill containment is a requirement for safety and
12. They push a sub-prime or bruised credit loan without attempting an "A" credit loan first.
13. They do not get immediate computer approval.
14. They insist on a personal meeting for application designed to pressure you into signing.
15. They promote a “fixed f
Have you ever noticed that some of the great stuff you want to show up in your business is not easily measured? It's easy to measure quantities, of money, production, sales calls, numbers of time the phone rings before it's answered... Because it's easier, businesses tend to default to measuring and managing only straightforwardly quantifiable things.Quantifiable stuff has to be measured in business, it's true. You'd be failing in your accountability to your bosses, your bankers and your shareholders if you didn't do it. And by and large most business leaders make a pretty good job of measuring the results these people wish to see.But these alone don't tell you that everything you want to happen is happening. What about teamwork, values, customer ser
After 15 years in the mortgage industry, I can unequivocally say…boy, is that wrong!
Once folks learn the frivolity of using estimates, the most asked question I hear is, “If estimates are out, how do I pick one mortgage company over another?”. To answer that question, I put together the “Run, Don’t Walk” Checklist for mortgage shoppers. To use the checklist, remember, if the company/loan officer you’re evaluating, possess, says, or demonstrates any item on list….Run, Don’t Walk!
Well, here we go: The Checklist
1. It’s a bank….you know Countrywide, Wells Fargo, Washington Mutual etc, Banks are not the low cost providers of mortgage money …big surprise, right! And they don’t have to disclose their overage (ie. YSP or SRP).
2. They don’t have you sign anything…no application, good faith estimate etc. (self-explanatory)
3. They have you sign blank documents. Signing blank documents is worse than no documents.
4. They are a friend or family member...once you learn the truth, so long friend.
5. They verbally lock loans…no lender lock confirmation. If they won’t send you a lender lock confirmation, they are hiding the YSP.
6. They play stupid or get irritated when you mention YSP (yield spread premium).
7. They promote loans with a pre-payment penalty. They make more YSP with a pre-payment penalty unless the lock confirmation shows otherwise.
8. They are uncomfortable or irritated discussing their compensation. If they can’t discuss and explain their total compensation without equivocation, run!
9. They push Adjustable rate mortgages (adjustable rate mortgage) when your hold period is 5 plus years or when the market has obviously changed to an increasing rate market.
10. They push an interest only loan when your hold period is 5 plus years or when the market has obviously changed to an increasing rate market. Interest only loans typically are used to obfuscate the underlying adjustable rate.
11. They push an FHA and/or VA loans when they haven’t attempted a conventional approval first. Conventional lending now provide 100% and bruised credit programs which formerly were the main reason for the FHA and VA programs. They are now obsolete.
12. They push a sub-prime or bruised credit loan without attempting an "A" credit loan first.
13. They do not get immediate computer approval.
14. They insist on a personal meeting for application designed to pressure you into signing.
15. They promote a “fixed fe
Do you want to make money on eBay? Are you curious by nature? Locating the products to sell on eBay is all about curiosity and perseverance. Locating products to sell on eBay is about searching and asking questions.Many who decide that they would like to make money on eBay think that locating the items that will be selling will be easy. However, they really don’t understand that eBay is a marketplace with many sellers competing for the sales that occur. They don’t realize that as a new seller they will be competing with others who have been selling on eBay for a long, long time.As with every new endeavor, there will be work. But remember that with that work there is the potential to make money on eBay. One of the places that sellers will need to inve
Well, here we go: The Checklist
1. It’s a bank….you know Countrywide, Wells Fargo, Washington Mutual etc, Banks are not the low cost providers of mortgage money …big surprise, right! And they don’t have to disclose their overage (ie. YSP or SRP).
2. They don’t have you sign anything…no application, good faith estimate etc. (self-explanatory)
3. They have you sign blank documents. Signing blank documents is worse than no documents.
4. They are a friend or family member...once you learn the truth, so long friend.
5. They verbally lock loans…no lender lock confirmation. If they won’t send you a lender lock confirmation, they are hiding the YSP.
6. They play stupid or get irritated when you mention YSP (yield spread premium).
7. They promote loans with a pre-payment penalty. They make more YSP with a pre-payment penalty unless the lock confirmation shows otherwise.
8. They are uncomfortable or irritated discussing their compensation. If they can’t discuss and explain their total compensation without equivocation, run!
9. They push Adjustable rate mortgages (adjustable rate mortgage) when your hold period is 5 plus years or when the market has obviously changed to an increasing rate market.
10. They push an interest only loan when your hold period is 5 plus years or when the market has obviously changed to an increasing rate market. Interest only loans typically are used to obfuscate the underlying adjustable rate.
11. They push an FHA and/or VA loans when they haven’t attempted a conventional approval first. Conventional lending now provide 100% and bruised credit programs which formerly were the main reason for the FHA and VA programs. They are now obsolete.
12. They push a sub-prime or bruised credit loan without attempting an "A" credit loan first.
13. They do not get immediate computer approval.
14. They insist on a personal meeting for application designed to pressure you into signing.
15. They promote a “fixed f
It is common knowledge that in business you need to focus. How would this -- focus -- relate to different investment strategies?To grow into a successful stock trader you do not need an academic background, although it might help. Imagine that you start concentrating on one stock, for example an oil company. This is not the easiest choice, but it fits the setting of the example.You start with a blank slate and before you invest any amount of money you learn all about the company, the financial statements or just all the technical analysis about the specific stock. If you are not confident with technical analysis you can trust on the free technical signals provided by many providers. All you need to know is when the signal communicates a buy, a hold
4. They are a friend or family member...once you learn the truth, so long friend.
5. They verbally lock loans…no lender lock confirmation. If they won’t send you a lender lock confirmation, they are hiding the YSP.
6. They play stupid or get irritated when you mention YSP (yield spread premium).
7. They promote loans with a pre-payment penalty. They make more YSP with a pre-payment penalty unless the lock confirmation shows otherwise.
8. They are uncomfortable or irritated discussing their compensation. If they can’t discuss and explain their total compensation without equivocation, run!
9. They push Adjustable rate mortgages (adjustable rate mortgage) when your hold period is 5 plus years or when the market has obviously changed to an increasing rate market.
10. They push an interest only loan when your hold period is 5 plus years or when the market has obviously changed to an increasing rate market. Interest only loans typically are used to obfuscate the underlying adjustable rate.
11. They push an FHA and/or VA loans when they haven’t attempted a conventional approval first. Conventional lending now provide 100% and bruised credit programs which formerly were the main reason for the FHA and VA programs. They are now obsolete.
12. They push a sub-prime or bruised credit loan without attempting an "A" credit loan first.
13. They do not get immediate computer approval.
14. They insist on a personal meeting for application designed to pressure you into signing.
15. They promote a “fixed f
The first and perhaps most important “secret” is to realize that your methodology or approach (no matter how good) is only part of being a highly successful trader. This applies to any trading style including, day trading, swing trading or position trading.The simple fact is that a bad trader can screw up a fantastic trading system. Conversely a talented trader can take a mediocre strategy and make money with it.Why? Please read on and I will explain.Many traders/investors that I have talked with think that to be a “Super-Trader” that they must possess some type of highly advanced trading techniques or software along with nerves of steel and a highly developed intuitive feel for the markets. In addition they think that these elite group, ha
9. They push Adjustable rate mortgages (adjustable rate mortgage) when your hold period is 5 plus years or when the market has obviously changed to an increasing rate market.
10. They push an interest only loan when your hold period is 5 plus years or when the market has obviously changed to an increasing rate market. Interest only loans typically are used to obfuscate the underlying adjustable rate.
11. They push an FHA and/or VA loans when they haven’t attempted a conventional approval first. Conventional lending now provide 100% and bruised credit programs which formerly were the main reason for the FHA and VA programs. They are now obsolete.
12. They push a sub-prime or bruised credit loan without attempting an "A" credit loan first.
13. They do not get immediate computer approval.
14. They insist on a personal meeting for application designed to pressure you into signing.
15. They promote a “fixed f
It's natural for many of us in the healthcare industry to want to help others. It's why we do what we do. We know that the more people we serve, the better and/or healthier their lives can be. To some of us that means growing our businesses so we can reach more people. The way we do that is through marketing.Over the years I've written at least once about many marketing methods most businesses use; web sites, sales letters, post cards, blogs, referrals, patient retention, public relations, networking, word of mouth marketing and more.There is one, more non-tangible aspect to marketing that is worth discussing. Your involvement in your community. Even more so, your position as a leader in your community.I am not recommending you get involved in
12. They push a sub-prime or bruised credit loan without attempting an "A" credit loan first.
13. They do not get immediate computer approval.
14. They insist on a personal meeting for application designed to pressure you into signing.
15. They promote a “fixed fee” or “No-Cost” loan….there is no such thing! Yield spread premium rate hiking will cost you thousands over the life of the loan.
16. They won’t disclose their exact total compensation. This includes all revenue generated by origination fees, mortgage broker fees, processing fees, and all “back-end” compensation also known as yield spread premiums (for brokers ) or service release premiums (for banks ).
17. They push an interest only loan and tells you to pay extra principal payments.
18. They promote Adjustable rate mortgages in an increasing interest market.
19. They can’t explain how the ADJUSTABLE RATE MORTGAGE index and margin come together to make an ADJUSTABLE RATE MORTGAGE rate.
20. They can’t explain what the initial, periodic, and lifetime caps on an ADJUSTABLE RATE MORTGAGE are.
21. They don’t know the difference between a convertible and a non-convertible ADJUSTABLE RATE MORTGAGE.
22. They push negative amortizing loans like the “pick-a-payment” or “option” Adjustable rate mortgages so predominant in radio and TV advertising these days.
23. They don’t know the difference between payment caps and rate caps on Adjustable rate mortgages.
24. They work part-time in the mortgage business.
25. They are new to the business and therefore lacking in experience.
26. They were referred by a Website lead portal like LendingTree and others. These lending sites increase the cost of the loan. In the case of LendingTree, the increase cost is over $700!
27. They were referred by a real estate agent. They will probably be related to the loan officer or have some financial arrangement that will increase the cost of the loan for you.
28. They work for the builder mortgage company. See 27 above.
29. They work for the real estate mortgage company. See 27 above
30. They are also your insurance agent or financial planner. See 27 above.
31. They claim or allow you to assume, you can get the lowest rate simultaneously with a No-Cost or Flat Fee loan. An example is when you see a low rate on a Ditech commercial flashed right next to a flat f
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