Mortgage lender guys

[calveless wonder]

yeah right. I make a pretty good living. I have to close 3 loans to jnevins 1 to make what he does but I enjoy it. Our values suck ass here though. 2500 sq ft new construction going for $100 a sq ft.

so you only average a point a deal? jeez....i'd go nuts.

when i ran my first team we were nicknamed section 32
to give you an idea lol

but me and my guys always had the nightmare loans...gift of equity purchase to brother/mother with rolling 90's on current property blah blah blah. escrow holdbacks because the roof is missing, foreclosure bailouts, etc. we definetely earned our commission on those

 

[SpyWizard]

How about no money down, 18k to buyer 3 points and 6.5% fixed no PPP

I've seen those, but don't 1099 me on the $$$ to the buyer..

a builder went to jail for this sort of thing 2 years ago.. i was holding one of his homes..

burn in hell bastard.. that's what they tattooed on his forehead..

 

[boyer]

How about no money down, 18k to buyer 3 points and 6.5% fixed no PPP

Not really a big deal in today's market. I had a friend that was offering $80,000 cash out at closing, on a $580,000 house.

 

[jnevin]

so you only average a point a deal? jeez....i'd go nuts.

when i ran my first team we were nicknamed section 32
to give you an idea lol

but me and my guys always had the nightmare loans...gift of equity purchase to brother/mother with rolling 90's on current property blah blah blah. escrow holdbacks because the roof is missing, foreclosure bailouts, etc. we definetely earned our commission on those

No. It's the loan amounts that make the difference.

 

[calveless wonder]

No. It's the loan amounts that make the difference.

ah gotcha. didn't know you guys had high loan amounts in utah lol. but i'm guessing you do other states.

florida loan amounts are pretty sweet....i do alot of jersey deals too, which are average 300k (on a refi).

95% of my business is refi...i really need to crack the purchase market. Need to get a good strategy to get with realtors...i always dream but never follow up. know a couple of guys/mentors with a decent system....but it's very time consuming and i gotta spend money on their program, bleh. On top of that South florida is the most saturated mortgage market next to SoCal, so it's alot harder here than elsewhere.Most of the brokers here are such fuckin pikers though..... the ones like me who come down from NY/NJ are the ones who make money because we know how to hustle.

 

[jnevin]

ah gotcha. didn't know you guys had high loan amounts in utah lol. but i'm guessing you do other states.

florida loan amounts are pretty sweet....i do alot of jersey deals too, which are average 300k (on a refi).

95% of my business is refi...i really need to crack the purchase market. Need to get a good strategy to get with realtors...i always dream but never follow up. know a couple of guys/mentors with a decent system....but it's very time consuming and i gotta spend money on their program, bleh. On top of that South florida is the most saturated mortgage market next to SoCal, so it's alot harder here than elsewhere.Most of the brokers here are such fuckin pikers though..... the ones like me from NY/NJ are the ones who make money because we know how to hustle.

My average loan amount is probably $225K, but I'm almost all purchases. I think I've only done 3 refi's in the last few months. I need to meet a few more realtors though. It's really all about follow-up with them. So many got burned by their LO's when the refi boom hit, they just didn't get the attention they were used to. Now they have all of these guys coming back wanting to work with them again. I've joined the board of realtors and just work on some of the charities they run, and it's really paid off. Maybe 3 hours a week that I'd waste on here, I just spend there. I've gotten maybe 10 referrals that turned into 6 loans out of it since February.

 

[calveless wonder]

My average loan amount is probably $225K, but I'm almost all purchases. I think I've only done 3 refi's in the last few months. I need to meet a few more realtors though. It's really all about follow-up with them. So many got burned by their LO's when the refi boom hit, they just didn't get the attention they were used to. Now they have all of these guys coming back wanting to work with them again. I've joined the board of realtors and just work on some of the charities they run, and it's really paid off. Maybe 3 hours a week that I'd waste on here, I just spend there. I've gotten maybe 10 referrals that turned into 6 loans out of it since February.

board of realtors? hrmm.....i'm goign to check that out. i'm assuming you got your R/E license in order to join?

 

[jnevin]

board of realtors? hrmm.....i'm goign to check that out. i'm assuming you got your R/E license in order to join?

No. I didn't have to here. It was $200 and I had to be approved. I'm on this Shrimpfest committee that is a fundraiser for the homeless or some shit, I have yet to have something to do when I go to the meetings, I'm always asking. And then I've been working on this golf tourney that'll be held at one of the country clubs here that is a fundraiser for abused kids. Both through the board, both of which I pretty much just network. It's not like going to an office with nothing, just asking for deals out of the blue. Some days you just don't feel like it, but it's really been paying off so far. It's more fun doing this stuff than cold calls and begging for deals too. You get to be social and pick who you want to go after.

 

[feisty11975]

so you only average a point a deal? jeez....i'd go nuts.

oh hell no...I actually average between 2 and 5 points per deal. Good thing I am a good salesperson. If I only averaged a point per deal, I would be better off working at Walmart or McDonalds.

 

[calveless wonder]

oh hell no...I actually average between 2 and 5 points per deal. Good thing I am a good salesperson. If I only averaged a point per deal, I would be better off working at Walmart or McDonalds.

yeah, was about to say. guess it's just low loan amounts......