The Mortgage Insider site is now live and reblogging articles from dozens of sites and blogs.
Archive for December, 2006
Have I ever mentioned how much I like free? It’s my favorite brand of beer for instance. Recently, I found a great new free tool called MyProspectorLite. The system lets you manage advertising campaigns to you client base, offer loan comparison tools, compare market indices, and create reports showing your clients how to build assets. And it’s free!Larry Cragun of MortgagesUndressed has a great bit of advice for consumers that we all should relay. Don’t do business with companies that offer you multiple quotes. It reminded of me of a past experiencee I had working for one of these companies.
At the time Internet mortgages really started to boom (2000) I was working for a web design company that catered to mortgage brokers. The company built one of these sites, and the apps started flooding in. The leads were being distributed to any mortgage company willing to pay for them. They sold to 4 companies per lead. Soon we realized that some of the companies buying were in fact other lead companies. Then I began to think about the bar set on selling this credit information. It was basically, anyone who said they were a mortgage company could buy these leads. There’s no doubt in my mind that hundreds, if not thousands of these leads were likely sold to credit thieves.
The company had the best of intentions selling this program, but I think it may of done quite a bit of harm as well.
Here’s a blog I found today. I am Facing Foreclosure .com. It should be required reading for anyone psyched up after a Carlton Sheets seminar.
Broker Universe has a collection of online documents that you can use for all sorts of mortgage related purposes. Everything from 1003 PDF’s to Generic Stacking Order Docs and Budget forms you can give to borrowers. There’s lots of great stuff there that’s all been contributed by other mortgage professionals.
