News From The Loan Cave

http://www.realtor.org/rmodaily.nsf/pages/News2010012001

Express Capital will need to continue to adapt to these changes.  Last week FHA waived its 90 day flip rule.  Now it makes it more difficult in other ways......1 step forward, 2 steps back.  Not exactly saying its bad in whole, just makes our lives more difficult to obtain loans.

Our Staff has been faced with many changes in the industry yet again we continue to move forward despite uncertainties of the future.  Lately, we have taken an exam to retrieve our MLO (Mortgage Loan Originator) licenses.  Also required was 20 hours of classroom instruction.  We are happy to announce that we have all passed the test and we are ready to take 2010 by storm.  We have implemented our company "capes" as a symbol of our heroic efforts on each and every loan we do.  We see this catching on as we embrace our newfound staple of branding for Express Capital Mortgage.

Express Capital is proud to announce that it still has the best relationships with multiple lenders to secure the best loan for you.  We strive to react much faster than current industry transaction times from start to finish.  Our location in the East Valley is convenient to meet our clients in person and explain in detail.  We meet you, you meet us......this is where we mark the beginning of a long lasting relationship.  We want to be your lender for life.

Expressions of the day!

Buyers and the Pre-approval requests by agents

You want to look at homes.  Your agent wants proof your qualified before "giving up their time".  It's true this is common practice but is this the best way to break for the agents to handle this situation?  If for some reason a buyer doesn't yet have that time to sit through that loan application (it's not that bad folks), consider the following.

From our perspective the majority of buyers we have come accross lately who are ready to look already have done some homework enough to know that where they stand.  Take this under consideration on both ends.  For agents, trust you willing buyer and risk some time with them before you scuddle them towards the golden ticket from the lender.  For buyers, express to your agent that you have done some homework on the financing which will indeed increase their comfort level.  LSR's will come, if not at least you have created a relationship that can be useful down the road for all.

Economic recession is weaving a ugly web of deceipt for many people in the mortgage industry. Many Mortgage Professionals are deciding wether to find a new carrer or part-time work due to the dwindling loan writing.

Try looking at the big picture before you take a leap and ask yourslef a few questions. 1. Many people are refinancing, since they either do not have equity in their home or they need to pay credit/bills off. 2. People may be changing carrers, sell their homes in one state and buy in another, 3. Just downsizing and they are first time homebuyers that are able to get funding.

So before you take the leap, get your name out there and try these hints.

Express Capital Mortgage

Ryan Kohl, Vice President

1820 E Ray Rd, Chandler, AZ   85225

480-656-8347                                                    

As we move into this summer of 2008 Express Capital continues to grow and establish a positive reputation in Arizona.  The next challenge is to grow ourselves into building a reputation as mortgage origination experts through the power of blogging.  Being still an new company we have quickly learned to be innovative in a changing market. 

Highlights since inception in October of 2007:

-The introduction of our Express Move Mortgage Program

-Implementation of our "E-LSR" Realtor Program (Express Loan Status Representative).

-Approval do originate FHA and VA Loans (Februrary).

-Origination of Reverse Mortgages

-Full Remote Employee Access System

Future Blogs should provide a wealth of information and is intended to not only track what we are doing at Express Capital, but to provide other mortgage professionals and consumers insight to what we are doing in this changing market.

Ryan Kohl, Vice President

Phone 480-656-8347
Fax 480-656-8348

Express Capital Mortgage Inc.

1820 E. Ray Road

Chandler, AZ 85225

www.expresscapitalmtg.com

www.ecmapply.com

www.expressmortgagesonline.com