Archive for April, 2014

Two Critical Sales Commandments from Daniel Milstein

Posted by Joel pate in Uncategorized. Tagged:

Sales Commandment 1: Be a Cheerleader for Your Product/Service
As a salesperson, you are an advocate for what you’re selling. You find a match between a product or service and a customer that has a need for that product or service. If you are passionate about it, the consumer will be as well.
You have to believe in what you’re selling. Truly successful salespeople aren’t just earning a commission or closing a deal; they are helping their clients in a measurable way, finding their first home, obtaining better terms on their current mortgage, or delivering an insurance policy for a family’s security. I’ve often said that ‘I’m the delivery boy for the American Dream of home ownership,’ anxious to help borrowers realize their important goals. They can see my enthusiasm and know that I truly believe in the service I’m providing.
Leading up to the mortgage industry meltdown, there were several toxic loan programs, such as subprime loans, negative amortization loans, and the so-called “liar loans” in which borrowers would not have to provide proof of income. These products turned out to be detrimental to borrowers and our economy — I did not believe in them, and I refused to sell them. Once I explained the programs and what they entailed, the borrowers would come around to my way of thinking.
For instance, there was a customer for whom I had done several loans who called me to obtain a negative amortization loan at a one percent interest rate. I explained I didn’t think it was a wise choice because of the problems others had experienced with this type of mortgage resulting from an increase in the monthly adjustable interest rate and in the principal balance. However, he was adamant and when I couldn’t dissuade him, he went to another lender. Two years later, the customer called to say he was sorry he had not listened to my advice.
If you don’t believe your company’s product/service is beneficial to consumers, you should consider moving to a company or industry that has a product in which you do believe.
Sales Commandment 2: Make it about the Customer
There is nothing more important than taking care of your customers. All salespeople know this. Make one person unhappy and they’ll tell 10 or more of their friends about their unpleasant experience.
If you upset a customer and aren’t able to rectify the situation, it does not matter how much advertising you do; the damage has been done. It can take years to build trust with a customer, but only seconds to break it. It is nearly impossible to overcome a negative impression. So, do everything possible to make your customers consider working with you as being one of the best decisions they ever made.
I received a call from a customer who wanted to complain about his closing costs being $750 more than he had originally anticipated. He opened the conversation by saying how much he disliked everyone associated with the lending business. Of course, he waited until seven months after the loan closing to complain, but that is beside the point. I asked the customer to hold while I checked his file. I said, “Sir, I do apologize for your bad experience. While I was not privy to your conversation with my loan officer, I want to make sure that all of my clients are satisfied.”
“How do you plan on fixing it?” he asked.
I offered to refinance his home at no cost with a rate 0.75% less than what his original purchase transaction was several months earlier. His tone immediately changed to “You’re my family’s savior Mr. Milstein.”
The moral of this story: I kept the customer’s satisfaction in the forefront of my mind. Instead of telling him that he had agreed to the fees and there was nothing I could do, I was able to save him about $40,000 on the life of his loan. Rather than merely paying the borrower $750 to go away, we kept a client and all of his future referrals while earning a $5,000 commission. Before the new loan had even closed, he referred two of his co-workers to me.
Customers come back to do business with me because I make them feel they are the most important people in the world. I take an interest in their lives, and ask about their families, their jobs and other areas of interest. Every time we speak, I try to imagine I am walking in their shoes, because it gives me a better understanding of their situation.
One of our originators worked for a previous lender whose manager didn’t want her to pursue a customer with a $20,000 mortgage at 9%. The customer was thrilled that she could lower her rate, explaining that several companies weren’t interested because the loan was too small. However, the manager learned the salesperson was assisting with the loan and told her not to bother with it. The originator’s response was that everyone is entitled to save some money, and “I don’t discriminate on the basis of loan amounts.” After she closed on the loan the originator received a call from the borrower’s sister who said she was told to call because of how grateful her family member was. It turned out the sister was a home builder and wanted help financing a subdivision of 60 homes. “I learned long ago to treat everyone equally; what goes around comes around,” the originator said.
Once you’ve lost the trust and respect of a customer, it will be a constant uphill battle to get him or her back. It’s essential that salespeople have the leeway to serve their customers the way they feel is best.

By: Daniel Milstein, www.changingminds.org

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

TheRedPin’s Playbook for Getting Real Mileage out of Educational Content

Posted by Joel pate in Uncategorized. Tagged:

Distributing educational content can help you earn the confidence of your potential clients. But it also can cost significant time or money to obtain.
So if you’re going to make educational content part of your marketing strategy, you’d better make sure you get the most mileage out of it, says Sam Hosseini, lead marketing strategist at Toronto, Canada-based brokerage TheRedPin. TheRedPin attempts to do this by following a game plan that seems to boil down to two words: repurpose and recycle.
Blog posts are the building blocks of this strategy. You’re probably no stranger to blogs and may even have one that you use in your real estate business. But are you getting everything you can from it?
TheRedPin crafts posts around specific issues that are relevant to buyers or sellers, like how to assess the quality of a neighborhood or public transit’s impact on property values, Hosseini said.
He said it’s better to produce this content in-house in order to “control messaging properly,” rather than hire freelancers.
The brokerage’s marketing team milks its blog posts for all they’re worth by continually firing them out through social media channels. But TheRedPin also stitches them together into “white papers.”
TheRedPin’s “First Time Home Buyers Guide to Evaluate Potential Real Estate Investments,” (view it here: http://www.theredpin.com/blog/wp-content/uploads/2012/12/White-Paper-1-%E2%80%93-First-Time-Home-Buyers-Guide-To-Evaluate-Potential-Real-Estate-Investments.pdf) for example, packages together blog posts including “How Transit Affects Toronto’s Real Estate Market,” and “The Neighborhood Factor: Location Matters.”
Hosseini said it’s crucial that these papers are highly visual and don’t exceed 20 pages.
“It’s not a bunch of text that gets tiring,” he said.
The brokerage uses these white papers primarily for two purposes: to capture email addresses on its website and to cultivate existing leads through email drip campaigns.
TheRedPin harvests email addresses with white papers by posting them on a landing page that requires people to enter their emails to access the papers and is powered by data collection service EmailMeForm.
From its EmailMeForm account, the brokerage can export the emails to marketing services like MailChimp, allowing the brokerage to target the owners of the email addresses in drip marketing campaigns.
But Hosseini said the white papers are even more useful for “nurturing” existing leads rather than capturing new ones.
Like the tech-focused U.S. brokerage Redfin, TheRedPin drums up leads for agents. During the process of qualifying leads through interviews, he said, TheRedPin sends the white papers to leads to keep them engaged.
“It’s a great excuse to touch the lead again while keeping that communication door open,” Hosseini said. “That’s basically at the heart of why we do this.”
Ideally, the leads turn out to be qualified and become TheRedPin clients. But even when TheRedPin determines that leads aren’t ready to buy or sell quite yet, it still enrolls them in “nurturing programs,” drip email campaigns whose content depends on a potential client’s status and buying or selling timeline.
TheRedPin automates the campaigns by using tools like Marketo, Hosseini said.
Hosseini said that TheRedPin has enrolled over 100,000 people in its nurturing programs.
Most of them, he said, have seen its white papers or some of content that appears in them.
“We don’t dismiss leads just because they’re eight months away … we try to educate people over time,” he said.

By: Teke Wiggin, www.inman.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Four Trends that Will Transform Real Estate Tech

Posted by Joel pate in Uncategorized. Tagged:

This could be your future: You’re driving hands-free, taking your clients around for a day of showings. While you’re behind the wheel (remember, you’re not actually steering the car), you pull out your bendable smartphone or tablet and bring up a home’s specs. Apps display the home’s energy use and maintenance status. As you’re approaching a home, the lights in the house automatically turn on.
Sound far-fetched? Well, brace yourself: Some of these capabilities are already here — or are coming soon. Here’s a peek at the latest tech from the 2014 International Consumer Electronics Show that should be on your radar as a real estate pro.
Wearables
Wearable tech is a big buzzword right now, with the smartwatch business alone expected to grow from 400,000 shipments this year to 35 million by 2017, according to market research firm Berg Insight. Watchmaker Pebble touts a $249 Pebble Steel smartwatch that can connect to apps from iOS or Android devices for accessing e-mails, calendar alerts, news updates, social media accounts, and maps. Real estate tech expert and author Chris Smith says that in order for smartwatches to catch on, they will need to have voice-control capability and connect to all your smartphone apps so that you don’t ever have to take out your phone. Rest assured, that’ll happen.
Smarter Homes
A smartphone may become the key – literally — to showing a home. Several products are being developed with the goal of creating “connected homes,” allowing for greater control and monitoring of home appliances and systems from a smartphone.
The tech is getting more affordable and simpler to use, mostly through smartphone apps, and could make the connected homes more mainstream within the next decade, says Matt Rogers, cofounder of Nest, a home technology manufacturer recently purchased by Google.
And the offerings for greater home connectivity are growing:
Energy-efficient smart light bulbs: You can control these with your phone and program them with mood-light settings for relaxation and energy savings.
The ability to text appliances: Programs such as LG’s HomeChat allow you to text your washer, for example, and ask it, “What are you doing?” You’ll receive a text response telling you where the washer is in the washing cycle.
Single integrated systems: These will allow you to connect appliances, thermostats, security systems, and more from one device. Lowe’s Iris Management System and Samsung’s Smart Home App are examples of these systems, and they also send alerts to your phone when an appliance is malfunctioning.
Driverless Cars
Automakers are racing to release the first publicly available self-driving car. Audi, General Motors, Mercedes-Benz, Nissan, and BMW, among others, are testing the technology. According to officials with Bosch, a global automotive supplier, the company is about seven to 10 years away from having a fully automatic car on the roads. The implications for real estate? Instead of chauffeuring clients to showings, the car will do it for you. That means you can focus on your clients instead of the road. The cars use 360–degree sensors without human intervention for accelerating, braking, maneuvering turning, and parking. Driverless cars have already been approved for experimentation by lawmakers in several states, including California, Nevada, and Florida.
Flexible Phones
LG has created a smartphone that bends. The LG G Flex is the first smartphone with a flexible screen, and has just become available to AT&T, Sprint, and T-Mobile customers. The G Flex features a 6-inch display and a slightly curved screen at the top and bottom. LG officials say the curved screen offers better sound, voice, and picture clarity. You can also bend it slightly without cracking the screen. Smartphone manufacturers as a whole are focusing on curvier devices. Samsung has launched its flexible Galaxy Round phone in South Korea, while Apple was granted a patent for a curved display back, which has some tech forecasters predicting curvier, more bendable shapes for future Apple devices.
Smith says bendable glass helps protect devices from shattering. “We practitioners take out our devices from our pockets about 80 times a day and are always dropping our phones,” he says. “Bendable glass offers a way to keep the devices looking the way they were built as well as some protection.”
So, get ready, real estate agents: Here comes the future!

By: Mike Wheatley, www.realtybiznews.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

5 Ways to Minimize the Pain of Losing Your Smartphone

Posted by Joel pate in Uncategorized. Tagged:

Millions of people consider smartphones almost an extension of themselves. They help fill the gaps in our knowledge, help us maintain indispensable social connections and offer us a way to unwind on the trip home from work. Losing a smartphone is like losing an appendage. I know from experience.
So, use this guide to smartphone security to ensure that if you do lose your phone, you suffer as little heartache and headache as possible.
Write Down Serial Numbers
Every smartphone comes with its own identifying information, which includes both model numbers and serial numbers. Write these down and store them in a safe place. You’ll need this information if you ever need to report a lost or stolen phone and/or file a claim.
Apple devices will display this information in the About section of their settings. A complete guide to finding serial numbers or other identifying information can be found on Apple’s web site. Androids have similar screens on their Settings app that can be accessed in similar ways.
If you can’t recover your phone, report the phone’s serial number as lost or stolen on Immobilize, CheckMEND, and Trace. This is a first line of defense against allowing any thieves to profit from your precious devices. These sites link your smartphone to national property databases used to track stolen goods, and if you buy a secondhand product, you can also use them to ensure you’re not getting one that’s been stolen.
Set up a Password
Less than half of American smartphone owners use password protection even though a few seconds spent entering PIN codes can save days of pain down the road.
The iPhone 5s allows you to protect your phone with a fingerprint “Touch ID,” but all iPhones can use PIN-based numeric passcodes or alphanumeric passwords. You can set these protections in the Touch ID & Passcode section of the iPhone’s Settings app.
Android offers several options in the Security section of its Settings app. The latest version (KitKat) allows you to choose from a PIN code, an alphanumeric password, a pattern lock (where you slide your finger around a grid of nine dots) and a Face Unlock feature.
Back up Your Data to the Cloud
You may not feel comfortable putting every piece of personal data into Apple or Google’s hands, but unless you’re doing something really nefarious, consider the alternative: You don’t want to lose months or years of pictures and documents in one unfortunate moment. Activating your device’s cloud storage can give you peace of mind and prevent the permanent loss of precious memories.
Apple makes the process easy with iCloud. The iCloud option in your Settings app will automatically back up pictures, account settings, documents and even text messages whenever your phone is connected to Wi-Fi and plugged into its charger. Failing that, you can always begin the backup process manually from this same menu. Apple provides a handy help page that not only walks you through the process of setting up these options, it also helps you decide which backup option is better for your needs.
Android makes some of this process even easier, as it will save your contacts and app data automatically to the Google account you use to access the phone. However, you will have to take extra steps to back up your photos and videos. You need to install the Google+ app. Go to the app’s settings by clicking the menu button in the upper right corner, and you can turn on Auto Backup from here. All backups will be private unless you choose to post them to your Google+ page as well.
Any files you create with Google Drive will be saved to your cloud account automatically, but text messages won’t be automatically backed up. There are third-party apps for that: try SMS Backup & Restore or Droid Backup.
Help Yourself and the Authorities Track Down Your Phone
The GPS functionality built into every smartphone can often mean the difference between getting your phone back and being forced to get a new phone.
Apple’s iCloud comes with an app called Find My iPhone, which you should enable on your phone. Once enabled, the app will let you remotely log into your iPhone from iCloud on your PC, and you’ll be able to lock its screen, display a message on the lock screen and track its location. You can even erase your data remotely to prevent it from falling into the wrong hands.
Google recently updated its Android Device Manager app; it now offers similar functionality to Find My iPhone. If you lose your Android, you can try to track it down from your desktop on the Android Device Manager website with the Google account you use on your phone.
If All Else Fails, Tell Your Carrier
Every major mobile carrier has a way for you to report your smartphone as lost or stolen. If you haven’t password-protected your phone or installed any security apps, this is your last line of defense against unwanted access to your files and personal information.
The FCC has a database of numbers and websites for reporting smartphone thefts to all U.S. mobile carriers, so you can quickly find out what you need to do to get your carrier on your side. Reporting a loss or theft in this way will typically result in your phone being “bricked,” which will make it unusable and thus worthless to thieves. Make sure you have no real chance of getting your phone back before you take this step, or you might wind up kicking yourself when you find your bricked smartphone under the couch cushions a week later.

By: Alex Planes, www.dailyfinance.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training

Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

9 Ways to Diffuse Homeowner Anger

Posted by Joel pate in Uncategorized. Tagged:

Nearly every agent has been on the receiving end of anger! And it never feels good. I can recall one client who insisted on listing their home $40,000 over market value. I told them upfront that I would only take their listing if they agreed to lower the price on day 14 of the listing period. They said yes, but in their professional opinion they wouldn’t need to because their beautiful home would be sold before then. Well, it did not sell and when day 14 came I got an earful!
Here are a few of the statements they made to me:
1. You can’t sell houses.
2. You lied to us.
3. We are going to tell all our friends never to list with you.
4. We want out of the listing.
5. It would have sold if you did a few open houses.
6. You never advertised our home once.
I simply sat there and took it all in. No smile, no frown, no facial expression at all, at any time. I just let them get it out and off their chest! Finally they ran out of abusive words, and I said, “Tom and Sue, hold on a second!”, and I started to laugh!
I continued: “Let me make sure I understand you. You’re saying that I am a no good agent who wears an ugly gold jacket and who never once discussed this $40,000 over-priced issue with you the night we first signed the listing agreement, is that right?”
They looked at me and began to laugh, too. When I had left, the listing was priced right and sold 9 days later.
Joining people in their anger and firing back verbal assaults doesn’t solve the problem; it only makes it worse. If we want to effectively deal with problems in non-angry ways that resolve issues and maintain relationships, we need to employ the following key strategies and behaviors.
1. Listen first
This takes skill, especially when we feel that we are right and the other person is wrong. And even though we may not be speaking while our client is stating their case, our body language is usually screaming, “I know I’m right, and you know I’m right. So, I’ll listen, but only for you to eventually shut up so I can start talking.” Instead, listen to understand. Listen for information you don’t have. Assume your client has a legitimate reason for being upset, and then listen for what it is.
2. Maintain a neutral face
Despite what we’re saying, as much as 55% of our message’s meaning comes from visual indicators: posture, gestures, body positioning, etc. And much of that 55% comes from our faces. So, when dealing with an irate person, you need to make a conscious effort to relax your face, unclench your jaw and lift your eyebrows. Think open, pleasant, neutral and relaxed.
3. Maintain a level voice
Most of us get extremely reactive when we hear clients speak in an angry manner. Because much of our message’s meaning can be found in our vocal qualities, we need to make our voices match the thoughts we want to convey. If you’re speaking with an angry client, and you think to yourself, “OK, I’ll humor you, but everything you are saying is total garbage,” then that message will be communicated loudly in your tone. Instead, use the same tone of voice you would use if you were calm and relaxed.
4. Feed back what you hear
You will encounter many places where you can restate and paraphrase the other person’s feelings. You might find yourself saying things like, “It sounds as though this experience was extremely frustrating for you.” Let the client know you’re listening and that you understand the situation.
5. Change what the person is focused on
When a client is upset, you need to change his emotional state. You can do this by interrupting his pattern and refocusing his attention. One way to do this is to use the client’s name. When you need to speak, start by saying their name. People naturally stop and change what they’re focused on, if only for a moment, when they hear their name.
6. Make empathetic statements
The best statement you can make at this point is: “Let me make sure I understand you. You’re saying …” and then repeat what you’ve heard so far. Your client will listen if they know you are going to say something they just said.
7. You don’t need to make them right, but don’t make them wrong
When your client is at the height of anger, there is absolutely no way you can talk them out of their feelings. Instead, say things like, “I understand your feelings,” or “I’m sure if I were in your place, I would feel the same way.”
8. Be solution-oriented
If you are not sure how you can help, then ask. If you are in a position to provide help, then list the steps you will take to assist the client. If you are not in a position to provide help, then assist the angry client in locating someone who can resolve the situation. Either way, use the words “I want to help.” Let the client know you care about what they are going through and that you are willing to assist in correcting the problem.
9. Eliminate inflammatory statements:
“If you will just calm down…”
“If you will just let me talk…”
“You’re being unreasonable.”
“Exactly what’s your problem?”
The above statements, and others similar in nature, serve to exacerbate a problem and intensify angry feelings.
In life, the reality is that anger is a normal and healthy emotion. Sometimes, however, people allow their anger to cloud their judgment and negatively impact their behaviors. When clients are angry and upset while you are calm, you are in control of the situation. And when you have the ability to defuse the other person’s anger and solve the problem, you emerge as the hero; your relationships become stronger and healthier. Using sound reasoning and strategies enables you to do just that.

By: Randy Roussie, www.randyroussie.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

CFPB’s HMDA Data Changes Could Increase Litigation

Posted by Joel pate in Uncategorized. Tagged:

Seeking to “gain greater insight into issues about access to credit,” the Consumer Financial Protection Bureau (CFPB) announced the launch of a rulemaking process to change reporting requirements under the Home Mortgage Disclosure Act (HMDA). The new reporting requirements could have unintended consequences for both mortgage servicers, and legal teams who assess discriminatory lending practices.
“These efforts are about better information, better collection, and better access to mortgage loan data,” said CFPB Director Richard Cordray in a press call. He explained that the agency was tasked pursuant to the Dodd-Frank Act to improve HMDA reporting.
The Dodd-Frank Act specified new data points to be collected and reported: namely, the total points and fees of the mortgage; property value and improved property location information; the length of any teaser interest rates, prepayment penalties, and non-amortizing features; lender information, including a unique identifier for the loan officer and the loan; and the borrower’s age and credit score.
The CFPB intends to add to that list. The agency is considering requiring financial institutions to gather and share information such as an applicant’s debt-to-income ratio, the interest rate, the total origination charges, and the total discount points of the loan. “This will help regulators spot troublesome trends in mortgage markets around the country,” Cordray said.
In addition to pricing and underwriting information, the CFPB is weighing whether or not institutions should be required to explain why a loan application was rejected and whether lenders need to indicate if a loan is considered a “Qualified Mortgage.”
The process of collection and reporting for HMDA purposes may also undergo some changes, the agency said. An estimated 70 percent of all loans use the Uniform Loan Delivery Dataset of the Mortgage Industry Standards Maintenance Organization (MISMO). Aligning HMDA information with this system may ease compliance burdens on lenders, the CFPB said.
The first step for servicers and law firms is to gather feedback via the Small Business Review Panel. Community banks, credit unions, and other entities that may be affected by the changes are encouraged to respond to the CFPB’s suggested changes. Later in 2014, the agency plans to issue a proposed rule open for public comment.
As part of the rulemaking kickoff, the CFPB also announced a new online tool designed to improve public access to HMDA data. The new tool is loaded with data from 2007 to 2012 and allows users to filter and sift through data, download it, and create summary tables.
Expanded reporting will inherently be more burdensome, requiring system changes initially and more work on an annual basis thereafter. More data also means more chance of errors, and more manpower spent on preventing or reducing errors. The CFPB is inviting input on both the content and the method of reporting. Now is the time to speak up on these matters. The CFPB seems sincere in its interest in streamlining the reporting process.
Beyond trying to shape the future reporting requirements to ease the burden, though, there is a larger concern about how HMDA data are used. More detailed data could have the potential for greater interpretation and potential misinterpretation in connection with allegations of discriminatory practices. The costs of litigation in this arena — for both sides — could escalate as statisticians have more categories of data to manipulate and purport to interpret.
Meanwhile, the issue of whether “disparate impact” is sufficient to prove unlawful discrimination remains in the hands of the courts. If that issue is resolved against “disparate impact,” the consequences of having more data points will be muted.

By: Ellen Marshall, www.dsnews.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software

Credit Repair Solution

For more details please visit Scoreinc.com

MMRecap for April 14th

Posted by Joel pate in Uncategorized. Tagged:

The markets loved the Fed last Monday. After Wall Street read the minutes of the Fed’s March 19 meeting, stocks began to roar. Janet Yellen, the newly elected FOMC chairwoman, said in so many words that the current benchmarks (unemployment below 6.5% and inflation lower than 2.5%) for supporting quantitative easing were no longer valid.
The job market is still struggling even though the jobless rate is close to 6.5%, which is not low enough by today’s standards. Instead, the Fed plans to use a “dashboard” of indicators and make decisions on qualitative guidelines. For instance, the Fed will look at a number of guidelines before changing its assessment on the labor market, such as wages, participation rate, and worker confidence, which would allow a person to quit one job and look for better one.
However, the Fed feels there is little reason to change the economic outlook overall, which is encouraging because the outlook is currently favorable.
On Tuesday there was literally no news and little movement in the markets. The Nasdaq, which has struggled mightily, got a lift from Facebook, Netflix and Amazon, but the three major indices remain negative for the year. When the closing bell rang, the S&P 500 crept back into positive territory for the year, adding 6.92 points. No such luck for the other ones, although they did edge up. The Dow added 10.27 points while the S&P 500 rose 6.92 points. The 10-year yield fell by one basis point to close at 2.68%.
Stocks were flush with optimism on Wednesday and, overall, the indices posted really good numbers, with each adding more than 1%. The Dow rose 101.04 points, while the S&P 500 jumped 20.22 points. The Nasdaq, which had been unstoppable until recently, got some of its mojo back, adding 70.91 points. The 10-year yield held steady at 2.68%.
Thursday offered some good news on the employment front. Initial jobless claims for the week ended April 5 fell by 26,000 from the previous week, and continued claims came in at 2.776 million — far below the estimate of 2.838 million.
The only other release, import/export indices for March, showed exports edging down 0.5% from 0.6%, while imports rose 0.3% from -0.1%. Everything was going OK until sometime between 10 a.m. and 11 a.m. when the big sell-a-thon began. The Nasdaq was hit the hardest, as investors lined up to rid themselves of tech and bio-technology stocks. The index fell by 130 points, or -3.10%. The Dow was next in line, dropping 266.96 points, or -2.45% and the S&P 500 fell 39.10 points, or -2.09%. If there were any happy faces in the crowd, they were probably on mortgage lenders. The yield on the 10-year note fell six basis points to close at 2.63%.
The markets steadied themselves somewhat on Friday, but the producer price index, or PPI, jumped over the moon. It rose 0.5% from -0.1% in March, with the prices of food and energy likely pushing it up. The core rate, which eliminates food and energy prices, soared to 0.6% from the previous -0.2%. The final release, the University of Michigan’s end-of-month consumer sentiment report exceeded expectations, jumping to 82.6 from the initial 80 reading.
Another bump in the road was JP Morgan’s results, which tumbled. Other big banks were no better off. Companies in the S&P 500 were deep in negative territory. This led to another one-point decline in the 10-year yield, which dipped to 2.62%.
When the markets closed, the Dow Jones was down 143.47 points, the Nasdaq dropped -54.38 points and the S&P 500 closed down 17.39 points. The yield on the 10-year closed the week at 2.62%.
According to the Mortgage Bankers Association, mortgage applications fell 4.1% during the week ended April 4. The refi index decreased 5%, while the seasonally adjusted purchase index was up 3%. The interest rate on a 30-year-fixed rate conforming loan interest rate rose to 4.50%.
Following a week that was woefully short on economic news, this week is loaded with reports. It is also a four-day week, due to closures on Good Friday.
Reports start flowing today, with the all-important retail sales data. Analysts predict a healthy increase of 0.8% in March versus a 0.3% reading the previous month. Excluding auto sales, a 0.4% increase is expected. The other report, business inventories in February, should rise 0.5% — not far from the previous 0.4% reading.
On Tuesday the March consumer price index is due, but if analysts are correct, both the CPI and the core should increase by 0.1%, matching gains from the previous month. That will be followed by the NY Empire State Manufacturing index for April, which.is expected to tick up to 7.8 from 5.6. An upswing in manufacturing is always good news. The National Assn. of Homebuilders Housing Market index is also due and more good news is predicted. The April index should increase to 51 from 47, which could signal that the industry is returning to normal.
There will be more data on housing Wednesday with the release of March housing starts. The forecast says starts will jump to 995,000 units from 907,000 in February. Building permits for March are not as aggressive. Analysts believe they will fall to an annual rate of 980.000 from 1.018 million the previous month.
Industrial production in March is expected to hold at the previous 0.6% reading, but capacity utilization should tick up to 78.7% from 78.4%. The Fed’s beige book, which looks at economic conditions in the nation’s 12 federal districts, will also be released, but this seldom affects the markets.
Thursday, initial jobless claims for the week ended April 12 are due, and are expected to come in at 320,000, which is 20,000 more than the previous week. Continuing claims, those applying for a second or more weeks of benefits, should rise to 2.8 million from 2.77 million the previous week.
The week’s final report is the Philly Fed index of manufacturing conditions in April for the mid-Atlantic region. The index is predicted to jump to 9.8 in April from 9.0, which is good news for this important area.

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

The Strangest Secret

Posted by Joel pate in Uncategorized. Tagged:

In 1957, Earl Nightingale, speaker, author and cofounder of the Nightingale-Conant Corporation, recorded his classic motivational record “The Strangest Secret.” It sold over one million copies and made history in the recording industry by being honored as the first Gold Record for the spoken word. Nightingale concluded that life’s “strangest secret” is that we become what we think about all day long.
Your belief system, like your computer, doesn’t judge or even question what you input; it accepts your thoughts as the truth, the whole truth and nothing but the truth. Think thoughts of defeat or failure and you’re bound to feel discouraged. Continuous thoughts of worry, anxiety and fear are unhealthy and often manifest in the body as stress, panic attacks and depression.
At the core of Earl’s message is the incredible power of positive self-talk, belief and expectation. What you vividly imagine and hold in your mind begins to out picture as your reality. Your belief system not only defines your reality, but it also shapes your character and determines your potential.
The Placebo Effect
The ability of the mind to cure a disease even when the medicine is known to be worthless is known as the “placebo effect.” This occurs in medical trials where doctors give patients sugar pills, but tell them they will cure their illness. The only thing of value in these medical trials is the patient’s own belief that the sugar pills will cure them. It’s the power of the patient’s belief and expectation alone that produces the improvement in his or her health.
I recently read a story about a group of cancer patients who thought they were being treated with chemotherapy, but were actually given a placebo. The patients were informed about the complications associated with chemotherapy, such as fatigue and loss of hair. Amazingly, based on nothing more than their belief and expectation, nearly one third of the patients who were given the placebo reported feeling fatigued and actually experienced hair loss!
The Power of Affirmation and Positive Self-talk
A good way to create positive self-talk is through affirmations. An affirmation is a positive statement that represents your desired condition or outcome. Your subconscious mind doesn’t know the difference between a real experience and a vividly imagined “mental” experience.
When he was a struggling young comedian, late at night Jim Carey would drive into the hills overlooking Hollywood and yell at the top of his lungs “I will earn ten million dollars a year by 1995.” When 1995 finally arrived, Jim was the star of the movie Ace Ventura: When Nature Calls, for which he was paid twenty million dollars!
Top athletes understand the value of affirmation and recognize the impact of their mental preparation on their physical performance. They use the power of positive affirmation to reduce anxiety and increase their expectation of achievement.
To be of maximum benefit an affirmation must be simple, encouraging and stated in the present tense. By repeating an affirmation, aloud, it becomes embedded in the subconscious mind. Do these affirmations:
1. In a positive manner with the focus on what you want. When you catch yourself saying or thinking something negative about yourself, counteract the negative self-talk with a positive affirmation. Start your affirmation with words like “I am…” or “I already have…” Examples: “I close sales with little or no resistance.” “I take good care of my customers, and they refer their friends to me.”
2. In the present tense. Your subconscious mind works in the present tense, so avoid words such as can, will, should or could. Example: “I love the mortgage business and I am richly rewarded, creatively and financially.”
3. With strong emotion and conviction.
4. Repeatedly. I suggest you read your affirmations each morning upon awakening and again each night just before falling asleep. Close your eyes and picture the end result. Feel the emotions associated with the affirmation.
Here are some of my favorite affirmations:
“Every day in every way I’m getting better and better!”
“Everything comes to me easily and effortlessly!”
“I love and appreciate myself, just as I am!”
“I love doing my work and I am richly rewarded creatively and financially!”
“I now have enough time, energy, wisdom and money to accomplish all my desires!”
“I feel happy and fulfilled!”
Do affirmations really work, and can they be used to propel a person to achieve greatness? As a young boy growing up in Louisville, Kentucky, 12-year-old Cassius Marcellus Clay dreamed of someday becoming the heavyweight boxing champion of the world. When working out in the gym, Clay would continuously affirm to all within earshot that he was indeed the greatest boxer of all time. Many felt he was brash and boastful, and few people took this 89-pound youngster seriously. Mohammad Ali used his affirmation to become the undisputed heavyweight boxing champion of the world — and arguably one of the most popular and recognized sports figures of all times!
“Watch your thoughts, for they become words. Choose your words, for they become actions. Understand your actions, for they become habits. Study your habits, for they will become your character. Develop your character, for it becomes your destiny.” — Anonymous

By: John Boe, www.sellingprof.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Be Identified as a Professional

Posted by Joel pate in Uncategorized. Tagged:

In recent years it has become popular to be identified as a “professional.” The term distinguishes a person, providing a certain dignity worthy of respect and higher rewards.
As a result there has developed a growing discussion over the difference between being “a professional” and that of “acting professionally.” The former were historically doctors, lawyers and engineers who held some form of higher education than the general public and who, therefore, had something to “profess” for which they would be held responsible. They had the capacity to help or harm those they served and subsequently had a “duty of care” in the information they professed to those around them — a fiduciary duty.
With the advancement of learning, knowledge and training in so many fields of work, it is no wonder that many additional occupations are now considered professions. As a result, society holds their work to a higher standard. They are expected to maintain a duty of care in the conduct of their business and are considered by simple definition to be fiduciaries to those they serve. The real estate industry would be such a field.
To work in this industry one must be granted a license by completing a program of education and successfully passing required examinations. One must also be of good character and adhere to standards of regulation through law, rules and business standards. If found in breach of these standards those licensed can be held accountable. In addition, local, state and national associations establish Codes of Ethics that their members commit to follow.
All of this suggests the right to be called a professional. However, though professional by designation, we don’t always act professionally. “Acting professionally” may be more to describe someone else’s behavior and whether it meets our own expectation of how they should behave.
My plumber is professional because he gets to me on time and does the job on budget.
At Tony’s Restaurant the staff is the most professional in Missouri.
Go to ABC Service; they will greet you and treat you very professionally.
Or the opposite might apply:
That taxi driver was unprofessional because he ignored my request to stop smoking.
They act unprofessionally at ABC Diner because they never get the order right.
If only they would act more professionally and treat me the way I think I should be treated.
When we make such pronouncements it sounds as though what is being described is more how the person behaved than what they are. Professionalism has more to do with how a person/company deals with me than with their qualifications. If a person is behaving professionally it is because they have made me feel valued; and if I feel they are acting unprofessionally it is because they have somehow mistreated me.
So, who is that person of whom we say we have been dealt with professionally?
One who is patient: Who perseveres in the face of delay or irritation, without acting with annoyance or anger. Impatience would never be described as professional.
One who is kind: Attentive, considerate, thoughtful, concerned, compassionate, sympathetic and/or courteous. Unkindness/cruelty would never be described as professional.
One who is not boastful or arrogant: Someone who does not brag or present an inflated sense of their personal status or accomplishments. Conceit and arrogance would never be described as qualities regarding the pursuit of professionalism.
One who does not put others down or seek advantage over others: A person who does not gossip, speak ill of others or try to take an unfair advantage. Cunning may be secretly admired and gossip so seductive, but neither would be described as professional.
One who is not quick to get angry and does not hold on to a memory of resentment: Someone who controls their emotions even when frustrated; who gives the “benefit of the doubt” and “throws a little slack” without a get-even memory. Unconstrained anger, revenge and holding ill-will are hardly seen as professional behavior.
One who finds pleasure in professional behavior: One who is saddened by the behavior of others who dismiss the law, regulations and standards. This is someone who seeks higher ideals of behavior in themselves and others.
One who promotes the laws, rules, regulations and standards that together create a profession within which to operate: One who protects the public, whom they have been granted a license to serve, and through whom they make a living. Those whose behavior disregards and harms the society within which they conduct their business would not be seen as professional.
One who seeks to trust: Who extends trust and encourages trust, rather than suspicion and judgment. Who looks for the good before judging. Who seeks to demonstrate trustworthy behavior in themselves even when not reciprocated. What is worse than having to deal with someone you do not trust?
One who is an optimist, looking for the good in those around them: Who inspires, encourages and lifts those with whom they come in contact. A problem solver and solution finder.
Thus, to “act professionally” is more a personal lifestyle choice than a list of standards one can attain for better business. It is neither something to claim of oneself nor something one will ever fully accomplish, and yet it is something one can pursue every day and in every area of one’s life.
Certainly those of society considered to be professionals can encourage professional behavior through instruction. Perhaps more importantly, however, they will lead by example, since they recognize that they, too, are still learning to be more professional in their own lives. Surely this is the essence of self-regulation. In the words of Ghandi: “Be the change you wish to see in the world.”
Fundamentally, professional behavior in every aspect of our lives (as real estate licensees, as marriage partners, as parents, as neighbors and as members of society), builds greater trust and confidence in those around us. Trust and confidence build stronger and more satisfying relationships, more referrals and ultimately a stronger business model.

By: Kevin Clark, www.remonline.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

4 Million Renters Want to Buy. Can They?

Posted by Joel pate in Uncategorized. Tagged:

As the housing market moves slowly into recovery, more and more Americans are gaining confidence and hoping to jump into home ownership.
The home ownership rate has been dropping steadily since its high of 69.2 percent in 2004 to now just 65 percent. Millions lost their homes to foreclosure and millions more never entered the market, fearing falling home prices.
Now, 10 percent of U.S. renters say they would like to buy a home in the next year, according to a new report from Zillow, which surveyed renters in the nation’s 20 largest housing markets.
If all the renters who said they wanted to buy a home in the next year actually did, that would represent more than 4.2 million first-time home buyer sales, about twice the number of first-timers in 2013.
First-time home buying has actually fallen to the lowest level ever recorded by the National Association of Realtors, at just 26 percent of sales in January. These buyers usually make up roughly 40 percent of the market. Interestingly, the majority of the renters who said they wanted to buy felt they could afford home ownership, despite rising home prices and rising mortgage rates.
The trouble is there is just not that much out there to buy. Home construction is still recovering at a slow pace, and prices for newly built homes are far higher on average than for existing homes. The number of homes for sale is rising slightly but is still well below historical norms across most markets.
“Even after a wrenching housing recession, this data shows that the dream of homeownership remains very much alive and well, even in those areas that were hardest hit,” Zillow’s chief economist Stan Humphries said in the report. “But these aspirations must also contend with the current reality, and in many areas, conditions remain difficult for buyers. The market is moving toward more balance between buyers and sellers, but it is a slow and uneven process.”
Homeownership aspirations among renters were actually highest in some of the hardest hit markets of the housing crash, such as Miami, Atlanta and Las Vegas, according to Zillow. That may be because so many renters there are former homeowners who lost their homes to foreclosure. They are now seeing these markets recover, as investors bought up the distressed properties, pushing prices higher far faster than anyone expected. These renters are seeing market resilience, and likely want back in.
Foreclosure activity, in fact, fell 10 percent in February from January and is down 27 percent from a year ago to the lowest total since December 2006, according to a new report from RealtyTrac.
“Cold weather and a short month certainly contributed to a seasonal drop in foreclosure activity in February, but the reality is that new activity is no longer the biggest threat to the housing market when it comes to foreclosures,” said Daren Blomquist, vice president at RealtyTrac.
The report, however, does note that more than 152,000 properties that are in the foreclosure process but not yet bank-owned have been vacated by their former owners, likely due to the long foreclosure timelines. These so-called “zombie foreclosures” have been in process an average of 1,031 days, according to RealtyTrac. These homes sit untended and are a blight to the neighborhoods around them, often reducing nearby property values.
Ironically, these bargains might be perfect for first-time buyers looking for a good deal, but they remain stuck in limbo land. Meanwhile, tight credit and higher prices are keeping many of these same potential buyers away from new construction. Analysts at Credit Suisse who survey real estate agents monthly found weaker buyer traffic and demand in February.
“This is in contrast to the recent generally-positive commentary from builders and the optimism reflected in the stocks,” they noted. “We believe the impact from 2013′s sharp rise in home prices and interest rates is having lingering effects and the near-term demand environment will continue to underwhelm, especially for first-time buyers.”
Again, renters may want to buy, but there are still considerable headwinds in the market. However, as more inventory becomes available in the spring, these winds should ease considerably.

By: Diana Olick, www.cnbc.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com