THIS MORNINGS QUICK LOOK
- TOUR DE MTG FINANCE – System Update
- PRODUCT HIGHLIGHT – FHA and VA Max Mortgage Limits
- MARKETING – When Giving Meets Marketing
Tour De Mortgage Finance Learn Something New Everyday About Your Industry
As those of you are aware our system was down yesterday. Ole Lucy was downloading an Elf On The Shelf game on the corporate laptop and messed everything up!
At this point the website is up and running. I am sure we will find issues today as we had to reboot and scan the entire system. I do not have any further details other than it is running.
We still do not have access to email or corporate phones. I assume that includes underwriters as well but hopefully that will be up this morning as well. First, was to get site up and running.
As soon as I know more on the communication side of the system I will let you know.
In the meantime if you need me please click chat or you can email me at my personal email mjlending@gmail.com or call or text me at 404-931-9071.
Product & Guideline Highlight Knowledge That Gives You An Edge Over Your Competition
FHA AND VA MAX MORTGAGE LIMITS 2022
Lucy was so sad. She wanted to buy a new house in December but unfortunately Lucy made a couple mis-judgments and could not go conventional where evidently lenders just decide to increase loan amounts for the fun of it. FHA and VA does not seem to agree so now Lucy has to wait.
Yep, that’s right Lucy! FHA loan limits are based on case number assignment date so you do not get the new loan amounts unless you wait til January 1st to order the case number which means yep you cannot order the appraisal til then either. But you can take the application and take a purchase contract.
On VA it is based on closing date. The closing date and not the funding date fyi. Of course, with VA they have no limit if no entitlement used but if they are going old school route and have entitlement used and getting new loan then just close it after January 1st. Flagstar overlay is max loan amount of 4 Million for VA.
Here are the FHA loan limits for 2022.
Marketing Ideas And Opportunites Little Things That Can Make A Big Impact
WHEN GIVING MEETS MARKETING
My last article was on the art and importance or receiving to bless others that wake up each morning with a desire to give.
This made me think about the charities that I give to each year and how important they are to me personally.
When you think about your giving what is the one charity or purpose you have that you would like to make a difference in?
Think of a passion that you have where you can join forces with a specific charity and market that a certain sum or whatever you are giving will be given to said charity for each loan that is closed. Let your clients be a part of what you care about the most.
If you are a processor and get paid per file then advertise to your LO’s or clients that for every file closed you give an amount to what you believe in.
Where the money goes is where you will find the heart behind that person.
People do not care what you think until they know what you care about. Not just that you care about them but what you care about.
My greatest meetings in my career have been around finding out who they are as a person and walking away refreshed when not a single word was mentioned about business.
Just something to think about…….
