Author Archives: Vancellen

Thank You to My Realtor Partners

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I have been contemplating on what is the most important thing I can do to help
my Realtor partners be successful in their business.  During the slow times is
when we look at the future of our business.  I really should be looking at it even
in the good times…but I let time get away from me and bury myself in the operations
of the business.  I sometimes forget about why I actually originate mortgage loans.
These are the top things have been said about me and I discovered:
  • Been in the business for 20+ years.  “Must be doing something right.”
  • Have ZERO foreclosures.
  • Very thorough, does it right, the first time every time!”
  • A true professional that is well-respected by many business partners.
  • Leaves no stone unturned-getting the right loan at the best rate!
  • Dependable and is there for you when you need me!
  • Knowledgeable, creative, and honest and has the utmost integrity.
These are some of the qualities that have been said about me and are as important
from my end as a broker as it is from your end as a Realtor.  We have all
worked very hard in this industry to help people achieve their dreams of homeownership.
There are times when I ask the good Lord….”Why am I doing this?
Should I find something else to do with my life?  I am sowing the
seeds of understanding, integrity and financial knowledge.  I just know that I
am doing the right thing.”  I am sure you have asked yourself that question many
times over the past few years.
My desire for you during these tough times is that everyone gets a fair and
honest mortgage and gets the best home for their needs.  It is YOU that
have helped me so much over the years to accomplish this goal.  Thank you.
I pray that we can continue our partnership and work together to make the right
things happen.
We have been through some tough times in this business over the years.
It can only get better!

Credit Check Prior to Closing

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A reminder to those of you purchasing or refinancing a home….

DO NOT USE YOUR CREDIT CARDS after you have started the loan process.  A good % to remember….keep your balances below 30% of the total credit available.  If you go over that, your fico score will drop and you could have a change in the terms of your mortgage loan.  In some cases, you may not qualify any longer.

Yes folks…Fannie Mae is now going to require, from the lender that is selling your loan to them, a credit report pulled prior to funding.  We as brokers pull our credit report and many times the lender will pull it when the loan is submitted and they will pull again right before closing.

American Express reports the high balance on your cards for the month since they don’t usually have a spending limit set for your card.  That makes it look like you have maxed out your card and your ficos can really fall.

AnnualCreditReport.com

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I would suggest going to this link and running your credit report with 1 bureau every 4 months. It is totally free and a good way to make sure your identity is not being affected by identiy theft. The only thing the report doesn’t show is your fico. AND…unless you are buying or refinancing..you probably don’t need that score anyway.