Archive for March, 2015

3 Habits That Are Sabotaging Your Communication

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We’re in the middle of quite an amazing technological era. The communication sector alone has seen phenomenal advancements over the last 10 years. Between text messages, smart phones, e-mail, social media, and Internet access in almost any nook or cranny of the world, people are becoming more and more closely connected. Sometimes it feels like we’re almost too connected.
Usually, when something is incredibly easy to do (communicate with anyone, anywhere, anytime), it’s also easy to take for granted, and develop bad habits. I’d argue that we have technology to thank for the errors we’re about to look at. Sure, we’re a little to blame, but when one device (I’m looking at you, smartphone) rapidly changes how we do something so basic and necessary, it’s hard to adjust our behaviors and expectations. This lack of social adjustment to technology isn’t anything new — it actually has a name: Cultural Lag.
The bad news is, these bad habits from Cultural Lag can wreck your brand image, erode client relationships, and even hurt your sales abilities. Fortunately, these habits are as easy to remedy as they are to develop. All you have to do is recognize them. But how?
I’ve given this some thought, and you should be able to fix these bad habits in 10 minutes and see instant results. If you want to make sure your customers and strategic partners are “wowed” (see: Zappo’s core value #1), get more referral-generating testimonials, and beat the average loan officer, read on!
Bad Habit #1 — Expecting an instant answer
When you send someone a text message or e-mail, how long do you think it takes for them to receive it? I would hope you answered somewhere in the neighborhood of “instantly.” We all know this, but we also tend to take it for granted. Just because the message was instant, doesn’t mean an answer will be. Think about this from your clients’ perspectives. They’re most likely expecting instant answers from you. Is that reasonable? Honestly, no, but knowing this means you can meet this expectation your borrowers have and stand high above your slow-responding competition. You’ll also avoid coming across as “hard to get a hold of,” “not very attentive,” or “too busy to help.” Which leads me to #2.
Bad Habit #2 — Delaying response
The most important habit I’ve picked up from my sales experience (and life in general) in regards to dealing with other people is that you don’t always have to give an immediate solution, but you should give an immediate response.
There is almost nothing that has a bigger impact on how your clients perceive you than your response time to them. When they e-mail, text, or call you, respond immediately. You don’t have to have the answer or information they need right away, but they will appreciate a response. It could be a simple “I’ll get you the answer by 3 PM today” or “I’m not sure about this, but I’ll investigate this morning and let you know what I find by this evening.”
Going back to habit #1, your clients (and you, most likely) are expecting an instant answer; but what you really need is an instant response most of the time. There are very time-sensitive situations where an instant answer is required; but for the most part, people just want to get confirmation you heard them, are “working on it,” and when you’ll respond.
Bad Habit #3 — Choosing the wrong delivery method
Digiorno pizza might not like this, but delivery is crucial. I’m going to simplify this and say there are two broad categories of communication: Text (e-mail, text message, social media) and Voice (phone call, Skype, Face-to-Face).
There’s a time to communicate via text and a time when you definitely should not.
Sure, you can communicate with your borrowers via e-mail for almost everything and survive, but you’re missing the opportunity to really connect with the client and WOW them (You + WOW > Average Loan Officer). Confirming a meeting for doc signing? Text. Telling your client they’ve been approved for the loan they wanted? Voice. The personal, human connection you can make through the emotion conveyed in your voice, and the fact that you cared enough to call, makes telling your client they’ve been approved so much more impactful. That’s part of how you WOW clients. That’s one step closer to the testimonial that gets you repeat business and referrals.
Consider how often you fall prey to these bad habits. If it’s quite a bit, you may unintentionally be coming off as unfocused and uncaring to your clients. Don’t send the wrong message, especially when you can avoid it by a simple change in behavior. Recognizing and correcting these potential client communication pitfalls can make a bigger difference than you think and can help you make a connection with clients and real estate agents where your competitors fall short.

By: Tyler Weinrich, www.alamode.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

Top Agents: “What I Wish I Knew When I Started”

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What if you could know everything the elite agents already know and practice without having to go through the same school of hard knocks? Well, you can. Each agent starts in real estate with grand visions of big paychecks and luxury living, but the reality is most don’t stay in the business even a single year. This business is harder than it looks, but it doesn’t have to be.
As a real estate coach and sales trainer, I recently conducted a survey of top agents, utilizing several different media sources and coaching clients. I simply asked: “What do you know now that would have made getting to the top easier for you if you had known it when you started?” The answers came in big numbers with a lot of enthusiasm.
Here’s a summary of a few things the top agents wish they had known:
Build a business plan and follow it. You can start this anytime. The key is to break down your business, decide what your goals are, and then do the tasks that will allow you to achieve each of your goals. The key here is execution of the action plan.
Create systems for everything. If you do any task repetitively in your business (three times or more), build a plan around it so that it’s easy to do and systemized. This will assure that these frequently done items are performed seamlessly and one time.
Hire an assistant on day one. You must focus on money­making activities, not administrative tasks for the majority of your day. That means outsourcing non­income­producing activities, even if you do so with part-time or shared assistants.
Create success habits daily. Prospect, show or list houses and negotiate contracts. Block time for each of these activities daily, especially the prospecting. If you learn to hunt, you will never go hungry. The better your habits, the better your income. Plain and simple, “Do the right things right now and enjoy the rewards forever.”
Build and nurture your database. This is your No. 1 asset in your real estate business. Get a real estate­specific CRM and create a high­touch plan for everyone in your database. Follow up, keep in touch and provide great value for life.
Build on your previous year’s success, and always set goals to grow. Whatever you did last year, set a goal to double it!
Treat your business like a real business. This is a job, not a hobby. Go to work every day and actually do the work necessary to succeed. The harder you work, the luckier you get. I’ll bet you’ve heard that one before, and it’s as true as it ever was.
Save and invest. Save money from every paycheck, practice delayed gratification and invest in your future. There will likely come a day when, either by desire or by circumstance, you’ll no longer be selling real estate.
Practice scripts. It really matters that you say the right thing at the right time. So, take it seriously.
Plan your schedule, and work your clients into your schedule. Don’t drop everything every time a client calls. Prioritize daily activities, and include time with clients so that your schedule actually works for you.
Hire a coach early in your career. This is huge. If you have a guide through the process, you can get to your goals much faster.
Be a student of success. Read books and articles, and attend classes/webinars so you become a real student of success. Practice success principles — and never stop learning.
Success is neither magical nor mysterious. Success is following a proven plan, executing on proven systems and working hard. If you do this, you will succeed. There is still a lot of time left in 2015 to achieve (or exceed) the goals you set for yourself. The insights above are a great way to achieve those goals.

By: Verl Workman, www.rismedia.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

Buying a Home? Try It Out

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If you can test drive a car, why not a house?
That is the theory behind several programs that let buyers try out a condo or resort property before they commit to buying. A handful of developers, listing agents and homeowners say they are willing to let potential buyers hang out with the neighbors, have dinner in the kitchen or even spend a night or two in a home before making a final decision.
Raquel Gillett, an officer at a bank in Irvine, Calif., decided to test the waters before buying a Mediterranean-style home for more than $700,000 in Toll Brothers’ master-planned Parkview community in October. Ms. Gillet took advantage of the sales manager’s offer to introduce prospective buyers to residents for an inside view of what it was like to live there. She attended a pool party where she met her potential neighbors. “It gave us a comfort level with each other when we were going to be on the same block,” she says.
For individual homes on the market, the opportunity to test out a home in advance remains rare. Carol Bird, Malibu, Calif.-based real estate agent says that in her 25 years in the business she has fielded only a couple of requests from clients asking to spend significant time alone in a home before buying. One, she said, wanted to get a sense of traffic noise at different times of day. He ended up purchasing. The second wanted to try out a home’s numerous high-tech features, unusual at the time. He decided not to buy.
Ms. Bird says she thinks the test-run is ill-advised. “Either they already liked the house and then change their mind and you lose the deal, or it stays the same,” she says.
Others say it can benefit buyers. “It makes sense; you spend more time trying on a pair of shoes than you do buying a house,” says Susan Vanech, a Westport, Conn.-based agent who recently listed a home she owned for $574,000 and was open to potential buyers sleeping over.
Toll Brothers, one of the country’s largest home builders, also has a Fly and Buy program for buyers who want to travel to a new town to check it out. Travel costs can then be put toward a purchase. The company says for liability reasons they don’t allow overnights in model homes, but can put prospective buyers up in guest units in certain communities or in nearby hotels.
Honua Kai Resort & Spa, a luxury condominium complex on Maui, launched a Stay and Play program about three years ago when sales were slow. Though sales have picked up in the past year or two, they have continued the promotion. Prospective buyers can rent condos that have been placed in a rental pool for between $250 and $2,200 per night. If they decide to purchase, the cost of the stay can be applied to their purchase.
Erika Alm, a principal at PowerPlay Destination Properties, which overseas sales and marketing for the development, says two of the latest three units sold were to people who tested them out while in contract, before closing the deal. “Some people know they’re going to buy at Honua Kai but they’re not quite sure,” she says. “They make an offer and then say, ‘Could we try this out?’ ”
Wheelhaus, a company that manufactures luxury prefab houses as small as 400 square feet, recently launched a “try before you buy” campaign where potential buyers willing to travel to the company’s headquarters in Jackson, Wyo., can spend the night at a resort made up of several Wheelhaus models. The company fully reimburses the cost of a stay if a guest goes through with a purchase. “It’s good for our buyers to get to touch and feel,” says Jamie Mackay, the company’s founder.
So far, about 40 people have taken advantage of the program, says Mr. Mackay, and more than 75% of them have ended up purchasing their own Wheelhaus. Vince Crivello was one of them. He was interested in a 400-square-foot Caboose model Wheelhaus with one bedroom and a sleeping loft, in part to downsize from his 2,700-square-foot home in Marin County, Calif., but he wanted to make sure he’d be comfortable with such a major change.
“The first thing I did was go to the grocery store to buy a bunch of groceries,” says Mr. Crivello, who is in the investment-management business. The kitchen had a two-burner stove, a small refrigerator and minimal cabinet space, and he “wanted to make sure it would work.”
Ginny Beasley, a Ridgefield, Conn.-based real-estate agent says the sellers are open to overnights for a historic country estate in Redding. “We would need to do a background check — there are some really wonderful antiques in the house,” she says
Homeowner Janice Meehan says she and her husband are open to either hosting qualified buyers for dinner or letting them spend the night alone. The house, built in 1768, has been on the market since May, she adds, and the two are eager to move on now that their children have left home. She says she feels like “it belongs to everyone” because it has so much history. “It would be fascinating to host my neighbors and introduce a prospective buyer — or if they wanted to be by themselves, that’s cool, too.”

By: Candace Jackson, wsj.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

The Next Housing Crisis: Aging American’s Homes

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There’s another potential housing crisis coming, and this wont be a collapse in home values. The nation is facing a lack of affordable, physically-accessible and well-located homes for American’s aging population – especially those with low incomes, according to a new, study released by the Harvard Joint Center for Housing Studies & AARP Foundation.

“You’ve got a scenario with the large generation we’ve ever had moving into their senior years combined with the fact that longevity is increasing,” says Jonathan Smoke, Chief Economist at Realtor.com, the site of the National Association of Realtors. “And we’re fairly ill-prepared to address the housing needs and challenges of them.”
Time to Head off the Crisis
In 15 years, one in five Americans will be 65 or older. And by 2040, we’ll have 28 million who are 80+.
“If things don’t change, low-income older people will be compromising their well-being in many respects,” says Chris Herbert, acting managing director of the Harvard Joint Center for Housing Studies. “It’s an issue that will affect us all.” Housing, says Vivian Vassallo, Vice President of Housing for AARP Foundation “is a lynchpin for well-being.”
Three of the key problems revealed in the study, Housing America’s Older Adults: Meeting the Needs of an Aging Population:
1. The cost of renting and homeownership is increasing, and the trend shows no sign of reversing.
“Rents and home prices are going up, but incomes for seniors are not rising,” says Smoke. U.S. home values rose 6.5 percent over the past year and rents were up 2.8 percent, according to the real estate research firm Zillow.
High housing costs force millions of low-income older adults to sacrifice spending on other necessities, including food and health care. Severely housing cost-burdened households age 80 and over cut back the most on health care, the study says — spending 59 percent less each month on it than those with affordable housing.
A third of adults 50 and older (and 37 percent of those 80+) already spend more than 30 percent of their income on housing. In some expensive locales things are even worse.
Federally-subsidized rental housing is so scarce, the study says, that few older renters live in such apartments. Nearly two-thirds of eligible renters aged 62 and older don’t receive rental subsidies.
2. Americans want to age in place, but they’re living in the wrong places. Though a vast majority of people in their 50s and 60s say they want to “age in place,” remaining in their current homes as they get older, most older adults live in car-dependent suburbs and rural towns. Those locales won’t be suitable when they stop driving (about 24 percent of households 80+ are carless) and could isolate them.
3. Homes aren’t suited to the physical challenges many older Americans face. Many houses and apartments lack basic accessibility features, preventing older adults with disabilities from living safely and comfortably in their homes.
Only 1 percent of U.S. housing units have all five of what are called “universal design” features: no-step entry; single-floor living; extra-wide doorways and halls; accessible electrical controls and switches and lever-style door and faucet handles. Just 57 percent of homes have more than one of them.
One reason so many homes lack accessibility features: it’s expensive to install them. MarketWatch’s Amy Hoak wrote that making the average home more livable can often cost $70,000 to $100,000.
Thankfully, “there have been some interesting solutions percolating,” says Lisa Marsh Ryerson, President of AARP Foundation. “And more will come down the road.”
What Still Needs to Be Done
Harvard’s Herbert would like to see the federal government offer more rental housing assistance for people over 62 now. And he thinks suburban communities need to alter their zoning rules to allow for more rental construction and accessory dwellings — aka “granny flats” — so elderly parents can live with their adult children.
“I live in Falls Church, Virginia, and we recently approved a large senior assisted living center built in the center of town. Folks tell me that ten years ago, there’s no way the city council would’ve approved it,” says Smoke. “People realize they want seniors to live in our community.”
But can federal, state and local governments really afford to dole out more subsidies and tax credits in today’s budget-crunched era? Herbert concedes that “it’s hard to make a case to expand rental housing assistance given today’s budget.” Not doing so, however, will only put more budgetary pressure on Medicare and Medicaid as older Americans face higher health costs and are forced out of their homes and into long-term care facilities.
Says Smoke: “Washington is not a place where people have been working together on positive solutions over the last few years. What the Harvard and AARP study is doing is shining a light to show that it’s time to work together on these issues.” Expanding the availability of tax credits and financial incentives to make homes more accessible “is a no-brainer,” he says.
He also believes communities will work to make themselves more amenable to older residents. “Addressing the needs of seniors will improve communities for everyone,” says Smoke. “I don’t think you want to be a community that screams: ‘If you’re over 65, you’ll want to leave here.’”
AARP’s Marsh Ryerson is optimistic that the crisis the Harvard study describes will be avoided. “Individuals, government and private organizations know that the problem is real and intend to come together for creative solutions,” she says. “We don’t have a choice. It is our obligation to care for our older population.”

By: Richard Eisenberg, www.nextavenue.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

Develop An Attitude Of Gratitude To Be Successful In Real Estate

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There’s an exercise instructor in St. Paul, Minn., who just celebrated the big one. One hundred years.
Yup, 100 years old, and she still teaches exercise techniques to fellow residents at her senior apartment complex. She began teaching 15 years ago — at the age of 85.
To what does Lauretta Taggert attribute her longevity and the fact that she can still flex her exercise muscles at 100 years of age? “An attitude of gratitude,” she told Minneapolis’ KARE 11. It turns out that she may have a lesson for all of us. Success in real estate — and in life — requires an attitude of gratitude.
Gratitude Contributes to Happiness
Many of us strive for success because we assume it will lead to true and lasting happiness. Studies show, however, that the opposite may be true. “Happy individuals are predisposed to seek out and undertake new goals in life,” according to an article by the American Psychological Association. So we may have it backwards: Happiness leads to success.
If success is a byproduct of a joyful disposition, how can we become happier? Scientists at the Greater Good Science Center at the University of California, Berkeley, would most likely say that Taggert, our exercise instructor, hit the nail on the head. Gratitude not only contributes to happiness, it also helps us build stronger immune systems and lessens the frequency of loneliness.
So if being grateful contributes to happiness, and happiness fuels success, it only stands to reason that if you hope to make it to the top of the real estate market in your town, you need to start counting your blessings.
Gratitude Is the Source – Not the Result – of Success
“People who approach life with a sense of gratitude are constantly aware of what’s wonderful in their life. Because they enjoy the fruits of their successes, they seek out more success,” says Geoffrey James, contributing editor at Inc.com.
In another piece, James discusses the findings of a study that claims gratitude is “a source, rather than result, of success.” The study finds that people who count their blessings are more patient — and better able to put off financial gratification. “In business, patience is extraordinarily valuable,” he writes.
How to Become More Grateful
The folks at the Greater Good Science Center recommend counting your blessings on a daily basis. Others suggest that writing these blessings down in a journal is a more powerful way to reinforce the attitude of gratitude.
“Go for depth over breadth. Elaborating in detail about a particular thing for which you’re grateful carries more benefits than a superficial list of many things,” suggest authors Toby H. Birnbaum and Hershey H. Friedman of a report titled Gratitude and Generosity: Two Keys to Success and Happiness.
The authors cite research performed by Sonja Lyubomirsky, a professor at the University of California, Riverside, which finds that gratitude journaling once or twice a week is more effective than daily journaling. “Lyubomirsky and her colleagues found that people who wrote in their gratitude journals once a week for six weeks reported boosts in happiness afterward; people who wrote three times per week didn’t.”
Gratitude and Your Real Estate Business
What sorts of things might you be grateful for? P`erhaps new clients, a closed escrow, progress on your goals for the week, hitting the mark on the number of contacts you need to make, your family, your colleagues, your favorite sports team — anything really.
Marcia Donaldson, a business success coach and trainer, suggests another method to jump-start the gratitude habit. When faced with a challenge, try to seek out the good in the situation. She suggests making a game of it to keep it interesting.
Developing an attitude of gratitude won’t necessarily happen overnight, of course. It takes time to learn a new mindset. Once you get the hang of it, though, you’ll never look back, says Donaldson. “As you practice being grateful, an inner shift begins to occur, and you may be delighted to discover how content and hopeful you are feeling. That sense of fulfillment is the key to your success in life and in business.”
So, what are you grateful for today?

By: Shannon O’Brien, www.marketleader.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

Linda to Critics: This Is The Future Of Mortgage Lending

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Lenda, born in the heart of Silicon Valley, opened its doors for business in October 2013; and since then it has shocked the industry with its rapid growth in online lending, recently announcing its latest expansion into Washington.
The company, which eliminates the middleman in the mortgage refinancing process — like TurboTax does with tax filings — to complete loans faster, without paperwork and for less money, also announced that it closed $25 million in refinancing loans since October.
And now that Lenda’s done all the work to see what it looks like on the development, marketing and operating side, it can go to other states a lot faster.
“We have a good head start in the lending industry that is now cropping up since the Great Recession. A lot of the bad blood of banking stemmed from the recession. We are really pushing the paradigm in the home loan space that you don’t have to go into your local store,” Jason van den Brand, founder and CEO, said in an interview with HousingWire.
Lenda has experienced 25% month-over-month growth rate in the fourth quarter of 2014 and plans to expand into three additional states by the end of the first quarter of 2015 and across the country by the end of 2016.
Right now Lenda is only in the refinance business but has plans to go into the purchase market as well. “We started with refi because there are a couple less hands in the pie. When borrowers go through a refi, they have been through the typical transaction. And so what we found is that when people come into refinancing, they say that they wish their purchase loan was like this,” van den Brand said. However, he explained that there are still some products things that they need to do.
Broker backlash
But Lenda’s growth in mortgage technology comes with its fair share of industry backlash. While Lenda still supports the face-to-face interaction that comes with real estate agents because of their knowledge, on the loan side, van den Brand explained that this is a commodity and nothing more.
“You know your credit score and all the things that you need to know about buying a home. You should get the best deal, and the only reason that doesn’t happen is because you have mortgage brokers and banks turn it into a really expensive transaction; but in five years it will not be this way.”
Van den Brand explained that they have had a lot of negative feedback from lenders, but it comes as no surprise. “I think this is probably how stockbrokers felt when they heard about E*TRADE and accountants when they heard about Turbo Tax. This is just innovation and progress. As much as it hurts and cuts deep, we still have to press forward because we know this is where the industry is going,” he said.
That is not to say that loan officers are going away. Van den Brand added that there will always be that niche market. All they are suggesting is that there is not going to be as many. “There is plenty of room at the $1.4 trillion table that we sit at in the mortgage industry,” he said.
He added that one major argument they are hearing about their company is that they don’t understand how intricate the market is. “We understand how complex mortgages are, that’s no secret. It is extraordinarily complex. But where we differ is that we think computers are better with complexity. It’s computerized. Stock markets do the massive trades because they are quick, which is why it is faster and cheaper,” he said. “We argue that this change is going to happen in mortgages as well. Software came in and eliminated human error and human greed. Plus, the Internet is always open.”
Moving forward
Moving ahead, van den Brand said that they are constantly looking for larger pools of money that understand the model we are building and are a part of it. “We can push this company further, but in order to do so, we need people behind the scenes that have money to lend,” he said.
“We can’t predict what will happen, but we can push it in the right direction of where we want it to be. The time is now, and there is a lot of buzz around financial technology,” said van den Brand.
Lenda is not alone is movement though. Don Iannitti, president and CEO of DocMagic, told HousingWire that this will be a big year for moving the mortgage market online.
“Currently, our biggest opportunity is going to be ‘riding’ the eWave. This means that we will be material in transitioning increasingly greater numbers of our customers to an eEnvironment that is highly regulated and highly competitive. Customers are unique, and one size doesn’t fit all. It will be a time of great learning for everyone in this market — everyone,” said Iannitti.
DocMagic is one of the lead vendors participating in the Consumer Financial Protection Bureau’s eClosing Pilot, which is in direct response to providing an automated solution to the new Integrated Disclosure, (TRID) regulation for August 1st.

By: Brena Swanson, www.housingwire.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 March 2nd

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Last week’s reports took a long, hard look at housing, consumer attitudes, and the job markets, just to name a few. Almost all of them reported changes — some good, some not so good.
Monday’s only report featured existing home sales for January, which came in below expectations and lower than the previous month’s totals. The final count showed an annual rate of 4.82 million units — far below December’s 5.07 million units.
The Dow fell 23.60 points while the Nasdaq added 5.01 points. The S&P 500 declined 0.64 points. The yield on the 10-year note fell 7 basis points, to close at 2.06%.
On Tuesday, the Case-Shiller report edged up to 4.5% in December from 4.3% in November. Not a big move, but a move in the right direction. Consumer confidence in February dipped to 96.4 from 103.8 the previous month, but that’s still a pretty good number.
All stock indices closed in positive territory. The Dow closed up 92.35 points, the Nasdaq gained 7.15 points and the S&P 500 added 5.82 points. The 10-year Treasury yield went down 7 basis points for a second day in a row to close at 1.99%.
There was only one report on Wednesday that really mattered. New home sales in January were slightly down from December. The report indicated that 481K new home sales occurred in January compared to 482K in December. When we put things in perspective, January’s weather was much harsher than December’s, so 1K fewer new homes sold is not all that bad.
Wednesday was a relatively non-eventful day on Wall Street. The Dow inched up 15.38 points; the other two indices were down slightly with the Nasdaq closing down 0.98 points and the S&P 500 closing at -1.62 points. The 10-year yield crossed the finish line at 1.96%.
On Thursday initial jobless claims for the week ended on February 21 were up substantially. That was somewhat expected, now that the Christmas hires have been let go. New claims came in at 313K versus 282K the previous week. Continuing claims for the week ended on February 14, however, went down to 2401K vs. 2422K from the week before.
The January CPI report showed a 0.7% decrease in overall prices of consumer goods. We suspect that most of this decline was attributed to the low gas prices in January. The CPI core examines the same things but excludes food and energy prices, which are somewhat volatile. The core CPI report for January came at 0.2%, as weighed against the 0.1% in December. No big deal. Durable goods sales made a strong 2.8% comeback in January after posting a 3.7% loss in December.
When the markets closed on Thursday, it was a mixture of gainers and losers, but nothing earth-shaking. The Dow was down 10.15 points while the Nasdaq gained 20.75 points. The S&P 500 lost 3.12 points for the day. The 10 year yield moved up on Thursday, closing at 2.03%
Friday’s much-awaited reports were decent, but far from great. The second estimate on 4th quarter GDP dipped to 2.2% from the previous 2.6% reading. And the Chicago PMI took a real hit, tumbling from 59.4 to 45.8. It’s just possible that the miserable weather in the Midwest and the East Coast might have been a factor.
The good news was the final February consumer sentiment poll from the University of Michigan. The confidence level is swinging up to 95.4 from 93.6. The current number on pending home sales is also showing an upswing, going from -1.5% in December, to +1.7% in January.
When the closing bell rang last Friday, it was clear that investors were cashing in some profits. The Dow was down 81.72 points, the Nasdaq shed 24.36 points and the S&P 500 lost 6.24 points.
The MBA survey for the week ended on February 25, reported that mortgage applications decreased by 3.5% from the previous week. The refi share of applications went down to 62% from 66% one week earlier, and interest rates on conventional 30-year mortgages crept up to 3.99% from 3.93%.
Now it’s time to grab a huge mug of coffee and prepare yourself for the 21 reports scheduled for this week.
Today starts out with the reports on personal income and personal spending for January. Analysts expect income to increase by 0.4% or 0.5%, an improvement from the 0.3% from the last report. On the other hand, personal spending could show some minor improvement going from -0.3% to -0.1%. The next report is the PCE core prices for January. Both of the predicting parties are looking at 0.2%, compared with the 0.0% from the prior report. This will be followed the February ISM index, a look at manufacturing conditions throughout the U.S. Analysts expect an increase to 51 or 53, so let’s call it 52. The previous ISM report came in at 53.3. The final report for today is construction spending in January, which is iffy because that’s when the weather got really horrible in many parts of the country. Analysts believe it will come in at 0.2% versus the 0.4% in December, when the weather was somewhat better.
There are no meaningful reports tomorrow.
We will get several reports released on Wednesday. With the employment report for December coming out on Friday, there will be a few reports that might tip us off as to what’s ahead. The market estimators and the Briefing.com people believe that the ADP payroll report on employment change will show between 220K to 230K workers will have been added to payrolls in February. The report on ISM services is expected to edge down to around 56 in February — only a half-a-percent change.
On Thursday we look at the jobs situation, starting with initial claims for February. Both groups of analysts believe they might actually go down from the 313K reported from the previous week and be in the ballpark of 295K to 300K. Continuing claims have been hovering somewhere in the 2400K range for the past several weeks; not much is expected to change there. The revised Q4 report on productivity is not expected to swing much in either direction. Revised Q4 labor costs shouldn’t change that much from the 2.7% reported on the first iteration of this report. The factory orders report could show that production mode is going from a -3.4% in December to -0.1% in January.
On Friday we have another slew of reports starting with nonfarm payrolls. There could be some changes in this figure as both the market predictors and the Briefing.com people are thinking that the number could go down from 257K to around 240K. The report on the unemployment rate seems to be holding steady at 5.6%. The report on hourly earnings might be down a couple of tenths of a percent
There might some good news regarding the trade balance for January which is expected to come in at -$38.7B compared with -$46.6B from December.
Last this week we get the report on consumer credit, which was at -$14.8 billion in January and is expected to tame down to either -$12 billion or -$13 billion this month. Was that one or two cups of coffee worth of predictions?

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