Episode 2: Overcoming Obstacles

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Craig Reynolds joins me on episode two of the Peter Dellane Mortgage Show to go over loan products, common obstacles that your lender can help you with, and more.
Welcome to episode two of The Peter Dellane Mortgage Show! Craig Reynolds is back to talk about some of our loan products and how we managed to close on a few different properties. Each property came with its own set of issues—and some of these issues weren’t introduced until seven days before closing—but we managed to close each one.
We’ve time-stamped a few highlights of our discussion so that you can forward to the parts that interest you most:
(0:30) Craig and I discuss the details of our 1% down conventional loan product, which is available on the wholesale side.
(2:00) True or false: Do you really need a well and septic inspection when you use an FHA loan to buy a property?
(3:00) Overcoming issues with closing on a 40-acre, REO farm property—how we got the borrower approved.
(4:00) Two different condos had litigation issues, and one needed HUD-approval. We helped the agents and the buyers make it to the closing table.
(7:00) How one tweak to a loan helped a borrower close in a couple of weeks, after a credit union failed to help them.
(8:00) If you want to know what someone owes on a home before going on a listing appointment, what can you do?  
To hear our full discussion, watch the video above.
If you have any questions for a Mortgage broker, please don’t hesitate to reach out to us. We would be happy to help you!

What Are the Benefits of Working With a Broker Instead of a Bank?

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What’s the difference between working with a mortgage broker and a mortgage bank? A mortgage broker offers several important advantages, including saving you money.
In this episode of The Peter Dellane Mortgage Show, Craig Reynolds and I discuss the differences of working a mortgage broker and a mortgage bank and why working with a broker offers several important advantages.
For your convenience, here are the time-stamped highlights of our discussion:
(0:24) The difference between a mortgage broker and a mortgage bank is we have several different banks we work with, so when we’re taking a loan application, we’re eliminating the banks we’re going to deal with because banks have certain overlays. Our job as a mortgage broker is to find the best product and price for our client.
(2:00) Last year, we average $4,700 less cash to close than a retail bank.
(6:06) The little things we do increase the income per hour of the Realtors we work with and allow them to present better opportunities to their buyers.
(7:22) Our state-of-the-art communication system keeps our clients and Realtors in the loop through every step of the mortgage process.

(8:06) Not closing on time is one of the biggest complaints we get from Realtors, but we’ve never missed a closing.
(13:29) One of the things that has changed a lot of Realtors’ business is a personal note card. Writing personal note cards to clients, customers, and other people you come in contact with can increase your business substantially.
To see our full discussion, watch the video in it’s entirety. If you have any questions about the mortgage process, don’t hesitate to reach out to us. We’d be happy to help.

Edgar Hansen Verses Keith Colbum.

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Waterman Festival St Michaels weekend. Good to see Edgar Hansen and Keith Colbum enjoy a nice Sunday in our St Micheals Maryland. 

https://www.youtube.com/watch?v=wmrOHgAiHvY

Kieth Colbum verses Edgar Hansen from the Deadliest Catch go at it. Even tho Edgar spanked the safety PDF wearing Keith Colmum I would ride any day with Keith on the Bearing Sea. Source: Untitled – YouTube

Wells Fargo Exits Marketing Agreements With Agents and Builders.

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I think this is a good idea that puts us all on a level playing field and allows for Realtors and Builders to develop True Relationships with local Community Banks and Brokers. It is hard to compete for business when mortgage companies are paying desk fees to the Agents and Builders to get the referrals.

 

Wells Fargo Marketing Agreements to be winded down.

 

Source: Wells Fargo pulls out of Marketing Agreements with Agents, Builders

 

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Baltimore Area Home Listings

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Some of the most expensive Baltimore Area Home Listing.  Baltimore Area Home Listings

Source: Top 10 most expensive Baltimore-area new home listings – June 2015 – Baltimore Sun

To learn how to improve your 630 credit score click here.

 

Blue Angels Annapolis

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I love when the Blue Angels come to Annapolis. I would love for them to do this here.

Source: Blue Angels’ low pass scares beachgoers | GrindTV.com

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