The reason for this is simple…
The industry is now holding the lenders feet to the fire on pre-approvals. Meaning, if a lender issues a pre-approval too early in the process and later, information is obtained that renders that approval invalid, the lender may still have to close that loan. A pre-approval is now regarded as a commitment to extend credit and assumes the credit has been evaluated for worthiness. A loan is never truly approved until all pertinent docs are received & has gone through underwriting. No lender wants to make a loan that is unsalable, hence most are now issuing pre-qualifications upfront, unless they have a full picture of the borrowers’ assets, liabilities, income, employment history and any other pertinent information that might influence a credit approval.
Pre-Qualified vs. Pre-Approved
Pre-qualification is a lender’s estimate of how much you could be eligible to borrow based on information you supply. Pre-qualification does not mean you will get the loan. Pre-qualifications are usually free.
Pre-approved usually means that the lender is ready to make you a mortgage loan based on the information and documentation you provided at the time you requested a pre-approval. The pre-approval will say how long it is valid for and may contain some other conditions for you to get the loan. Your lender may not require that you pay any fees except the cost of a credit report at this time.
A lot of you may already have a profile, but are you taking advantage of all LinkedIn has to offer? Probably not.
- LinkedIn is exceptional in the fact that you are able to establish a link to a connection with people you may be friendly with but not talk to on a daily basis. It’s also a way for connections to virtually introduce others. With LinkedIn you are able to make second-based connections and meet others through people.
- Take a second to let people know you have a LinkedIn profile and that you are willing to connect with them. You can import your email address book directly into the website and email an invitation to connect.
- You can post great content on LinkedIn just like Facebook. But remember that LinkedIn is geared toward professional business, so keep that in mind when publishing.
- Completely fill out your LinkedIn profile with as much detail about yourself, career and company as possible. Make sure that you optimize it with essential keywords to garner search interests to your page.
- Write a headline under your name! Not everyone does, and it will set you apart. Try writing, “With me, you’re not just another listing!”
- Take note in the importance of linking outside of LinkedIn. You have the opportunity to link to your company’s website, your website and your other social media pages.
- Encourage any clients to write recommendations for you that will live on your homepage. There’s an entire section for referrals that you don’t want to leave blank! Plus, any colleagues and referrals can endorse you!
- If you decide to make use of the platinum LinkedIn account, you have the ability to use their InMail feature and send mass emails to all of your connections.
Join Local Groups
- Join local groups on LinkedIn within the real estate industry. You can regularly frequent the group page, share, and take part in discussions. Depending on the rules, you can post anything new going on with you, or share interesting articles in the industry.
- You can meet entirely new people outside of our local are, and establish connections without knowing the person beforehand. It’s an easy way to grow your network.
- These are our favorites! Real Estate Networking Group, Realtors on the Internet, Mortgage Loan Officer Support Network.
Gauge the Benefits
- Connect or follow real estate industry leaders and keep up with information they are providing. Constantly educating yourself will validate to clients that you know exactly what you are talking about. These are our favorites: Bean Group, Regency Mortgage, GMNBR, NHAR and Trulia.
- You can even pay to have advertisements to showcase your availability in the industry.
- Adjust the settings of your profile to allow Google to bring up your account in search results.
LinkedIn is a great place for clients to see how connected you are!
You’ll never make a house a home if you don’t love your neighborhood.
One of the biggest challenges in home buying isn’t always just the home- it’s where the home is.
You need to make sure your home owners know exactly what they want. Spend time asking them the questions we’ve devised below as the ultimate neighborhood guide!
Do you have kids or are you planning on having kids anytime soon?
- Children drastically change what home owners might need to look for. Kids will need good schools, a safe neighborhood, a yard to play in and more!
What type of house do you want?
- A cape, a split level, a Victorian- find out what style they want!
How far are you willing to commute to your job, shopping, etc.?
- Find out how far they are willing to commute to places outside of their neighborhood.
Would you rather live in a newer developed neighborhood or a historic one?
- Both have wonderful features, but it’s up to you to help guide them into their better fit!
Do you want to live in a gated community?
- Let them know the special features of one of these communities. Added security is always a plus!
How will your lifestyle fit into the neighborhood?
- Ask the home owners what their hobbies are. Help to figure out if their lifestyle will match the property.
Besides asking the best questions, you need to make sure your home owners have all the top information on the neighborhood.
Schools: Check out the schools in the area. Make sure they are the very best in education!
Crime: Did you know you can check online for any sex offenders that live in the neighborhood? You can find out at familywatchdog.us or nsopw.gov.
Recreation: If your home owners plan to stroll through the park, or hit up a Saturday afternoon baseball game, make sure it’s in the area!
Tourists: Is your house in a summer tourist area? Maybe the noise and traffic would bother them.
Plus, just a few extra tips!
- Visit the neighborhood to see what it’s like in the day and the night, and over the weekend.
- Chat with the neighbors!
- Pay attention to traffic patterns.
- Check the taxes.
Job Title: Lock Desk Clerk
Location: Hooksett, NH
Level/Salary Range: Based on Experience
Position Type: Full Time 40 hours per week
Hiring Contact: Kristen Brennan, Lock Desk Manager
Will Train Applicant: Yes
Job Summary: Manage lock request from loan originators and ensure system-wide date accuracy on all matters related to locks.
Contact Email: firstname.lastname@example.org
Subject Line: Lock Desk Clerk
Attention Kristen Brennan
Mail: Kristen Brennan, Lock Desk Manager
Regency Mortgage Corp.
26 Londonderry Turnpike, Hooksett NH 03106
- Receive lock request from loan originator’s and lock loans on internal pricing software.
- Use web-based services to accurately lock loans on investor websites, ensuring the Regency’s Profit on the loan is accurately reflected in locks as required.
- Update internal mortgage bank software fields with correct information and changes when they occur.
- If loan changes affect the lock, communicate possible repercussions on lock changes to the loan agent accurately and in a timely fashion
- Extend locks that do not close by the lock expiration date.
- Quote pricing to LO if lock change is requested.
- Escalate extension requests and other customer service matters as needed
- Fill in for Lock Desk Pipeline as needed.
Essential Core Competencies
Shows genuine sensitivity to the needs, feelings and capabilities of other people. Deals with others in a pleasant manner. Treats others with respect and consideration
Understanding Roles and Responsibilities
Takes responsibility for clarifying his or her job responsibilities, including the need to understand performance standards and other expectations. Communicates with his or her supervisor regularly to ensure that there is no misunderstanding about how performance will be measured and how expectations relate to particular job levels.
Meets or exceeds productivity standards that have been established for his/her organizational level or position. Has successfully combined skills, ability and effort to ensure that expectations related to results/output are achieved.
Managing Multiple Priorities
Handles multiple assignments and priorities yet still fulfills all commitments. Readily accepts new responsibilities and adapts well to changes in procedures. Gives appropriate priorities to various work demands.
Quality of Work
Has established a track record of producing work that is highly accurate, demonstrates attention to detail and reflects well on the organization. Is personally committed to high quality of work and encourages others to have similar standards.
Prioritizes tasks and mages time to ensure that deadlines are met. Plans his or her time and sticks to those plans. Prevents or manages interruptions until the highest priority tasks are accomplished. Ability to work effectively under pressure and within tight time frames.
Ability to add, subtract, multiply and dived in all units of measures, using whole numbers common fractions, and decimals. Ability to compute fractions, rate, ratio and percent.
Other Duties and Responsibilities
Participate in proactive team efforts to achieve departmental and company goals. Perform other duties as assigned.
Experience is preferred but not required.
Minimum education required is an Associates Degree