Broker Magazine articles from September 2003

Broker Magazine archives from September 2003

Eye on Wholesale.
September 24, 2003... Welcome to our first-ever special edition of Broker. We are taking a close look at wholesalers and loan products in this issue. In spite of both mortgage brokers and wholesalers needing each other to survive, there has been an uneasy...

Using Feng Shui to Make a Home More Saleable.
September 24, 2003... The following is some information you can pass on to your clients, many of which are selling a home now, or will be selling in the future. Shawne Mitchell is a Realtor who is also a practitioner of Feng Shui. Feng Shui is an ancient...

What's in a Credit Score?(Brief Article)
September 24, 2003... Some more information you can pass on to your customers, this time from Myvesta, a nonprofit consumer education organization based in Rockville, Md. The organization passes along some information it received from Fair Isaac Co., the San...

Warn Customers About Moving Scam Artists.(Just Pencil Me In: Your Guide to Moving & Getting Settled After 60)(Book Review)
September 24, 2003... Finally one more bit of knowledge you can provide to your customers and it comes from Willma Wills Gore, the author of "Just Pencil Me In: Your Guide to Moving & Getting Settled After 60." These tips involve hiring a mover, and apply to...

Top Wholesale Originators: WaMu and InterFirst were in a tight race to close the most volume in the first quarter.(InterFirst Bankcorp Inc.)(Washington Mutual Bank)(Brief Article)
September 24, 2003... Slightly more than $44 million in production separated the No. 1 and No. 2 wholesalers for the first quarter of 2003, according to data gathered by the Quarterly Data Report. Washington Mutual did $24.22 billion in production during the...

Top Mortgage Wholesalers and Their Volumes.(Directory)(Illustration)
September 24, 2003... (Dollars in Millions) (part 1 of 2) Rank Organization Name Location 1 Washington Mutual Seattle, WA 2 ABN Amro Mortgage Ann Arbor, MI 3 ...

The Art of Wholesaling: Washington Mutual has grown from a small thrift in the Northwest to being the nation's largest wholesale originator.
September 24, 2003... Washington Mutual is the top wholesaler in the country and mortgage brokers played a role in the Northwest thrift's expansion from a regional player to one of the nation's largest funding sources. For the second quarter of 2003, WaMu had...

San Francisco Mortgage Debate.
September 24, 2003... Our panel of wholesalers at the Western Secondary Market and Mortgage Banking Conference sponsored by the California Mortgage Bankers Association discusses their relationships with brokers. BRAD: It's both good times and bad times right now...

Ask the Experts: The nation's best sales people on the industry's hottest issues.
September 24, 2003... This Month's Question: What are your best and worst experiences with a wholesaler? Tim Klyela President The Mortgage House Holland, MI "I have had a lot of both. The best relationships that we have with wholesalers have...

The Beauty Pageant: Wholesalers have created several new very attractive products to go along with that familiar face, the 30-year fixed.
September 24, 2003... Choosing the best wholesale products in the market is as hard as giving the crown to the best looking, all around convincing girl in a beauty contest. The industry has gone a long way from the not-so-remote times when mortgage products could be...

Price Based on Competency?
September 24, 2003... Our discussion group at www.mortgagegrapevine.com takes on the issue of whether brokers should be paid based on knowledge. McC: Seeing posts reflecting the frustration that A/E's must deal with in helping the uneducated broker structure a...

New Law in Arkansas: An Ohio city passes an ordinance of its own.
September 24, 2003... ARKANSAS Only Refis and HELs Affected The Arkansas Home Loan Protection Act, this state's anti-predatory lending law, went into effect on July 16. The law regulates only refinances and home equity loans, as opposed to most of...

The Closing Gift...Ugh!: A closing gift can be a permanent reminder of the services you provide.(Brief Article)
September 24, 2003... Good gifts cost too much...They may not like it...My business doesn't get anything in return" or my personal favorite. "It is like having to buy a gift for a troublesome in-law." Okay, perhaps that last statement is beyond what most...

Submitting to Being a Banker: IndyMac will use its e-MITs loan submission system to help mortgage bankers make the transition to mortgage bankers.
September 24, 2003... IndyMac Bank, Pasadena, Calif., is planning to start warehouse lending operations anew within the next few months, four years after the company closed its warehouse business. That was when it converted from a real estate investment trust to a...

Loan Database.(Illustration)
September 24, 2003... (part 1 of 5) Min FICO Program Name 500 70% LTV to $300K 500 70% LTV to $400K 500 80% LTV to $350K 500 85% LTV to $400K 500 A MINUS 90% LTV to $400K 500 A PLUS 90% LTV to $400K ...

Upcoming Sales and Marketing Conferences.
September 24, 2003... This calendar of events contains a number of key events worth noting: major shows are being held in Texas, New York and Illinois. September 4 - 7 Leadership and Development Conference National Association of Mortgage Brokers ...

Advertisers' Index.(Illustration)
September 24, 2003... Advantage Investors Mortgage 42, 43 BNC Mortgage 30, 31 Colonial Mortgage 9, 11 Data Warehouse 46, 47 Debroux Marketing 7 ...