About West Los Angeles' Brentwood

In today's market banks and mortgage lenders are being extremely cautious about which loans they approve. Real estate values are dropping and foreclosure rates are rising, and many banks are dropping out of the mortgage business all together. Gone are the days when banks could sell their loans on Wall Street, reload, and do it again. Banks are now faced with the reality of having to actually hold on to their loans like they did in good old days. This means that they want to make sure that the loans they make at this time are good loans that will pay them back on time.

Nowadays, it seems like all we ever hear about, in reference to mortgage brokers, are the bad brokers; the ones that make headline news and are carted away on TV in handcuffs. What these stories fail to report, is that the bad mortgage brokers make up less than 1% of all the brokers that are licensed in America. In fact, it has always has been the mortgage brokers that have advocated for tougher licensing guidelines, not the banks. They have always argued that by tightening licensing guideline they can eliminate the ‘bad brokers" that give legitimate brokers a bad reputation.

What columnist and reporters fail to mention in their stories is the indispensible service brokers perform in the marketplace. For instance, each bank tends to have their own, distinct, personality when it comes to approving loans. Knowing these "personalities" is where brokers really begin to benefit their clients. Brokers have working relationships with almost every kind of lender imaginable and know each lender's uniqueness, rates and approval thresholds. This way, they are able to place your loan with the best investor the first time, saving their clients time and money.

Most brokers also have working relationships with the underwriters that work for these lenders as well. This doesn't mean that they can get bad loans through the system; but it does mean that they can help underwriters see the glass half-full as opposed to half-empty while they are underwriting your loan. In today's market, almost all mortgages are considered "marginal" and scrutinized by underwriters, having someone on your side is an invaluable asset.

One of the biggest selling points using a broker is personalized service. "So what, all I need is a good rate" is the response I have had from some customers in the past, but consider this. As opposed to brokers, when you submit your loan application to one of the large banks, your loan becomes a number and is pushed through the system as if it was on an assembly line. The monolith lenders usually have a person at the bank accept your application who will never see the loan package again. Those of you that have used the large banks know what I mean, those of you who haven't, I suggest you try this exercise before committing to a larger lender.

Pretend you have just submitted a loan application a week ago with one of the large lenders. Let's assume that you have forgotten to give the loan officer a key piece of information that can really help with your approval. Call their 800 number and try to find the right person to give this to so that the underwriter can consider it when approving your loan. This should answer the question, "Why do I need good service." Another misconception a lot of people have is that you actually pay more using a broker because they are the infamous "middle man."

This couldn't be farther from the truth, in fact, most brokers can offer lower pricing than larger banks nine out of ten times. This is because, much like manufactures, money has a retail cost and a wholesale cost, and brokers get the wholesale pricing. Banks have to charge retail for their money because of the added expense it takes to close mortgages. They have to pay loan officers, processors, underwriters and many more expenditures that are involved with closing a loan. Simply put, their overhead is higher than most of the brokers, which results in lower pricing for you. Keep these facts in mind the next time you read an article about "crooked brokers" and remember, honest brokers don't sell newspapers but they can save you time and money.

Reprint from an articles written by Aubrey Clark author and editor for Direct Banc 08.11.2008.

70 Years of Jazz Music

Blue Note 70th Anniversary - On Tour

Thu, Jan 22, 8 pm - UCLA Royce Hall, Westwood

To celebrate the 70th anniversary of the Blue Note legacy, an all-star band featuring some of today's finest musicians will travel the world celebrating this rich treasure trove of music. Led by Blue Note Records artist and pianist, Bill Charlap, the group will explore classic tunes by Bud Powell, Thelonious Monk, Horace Silver, Herbie Hancock, Lee Morgan, Wayne Shorter, and many others. Price: $26-$50

Fundraiser to Benefit Westview School - Brentwood
Attend an Exclusive Performance of the Pulitzer Nominated Play...

Love Letters

By A.R. Gurney
Sat, Jan 24, 8 pm - Brentwood Theatre, Brentwood
Starring Tony Shaloub of "Monk" and "Men In Black"
& Brooke Adams of "Lace" and "Days of Heaven"

One night only. Proceeds directly benefit the Westview School, a nonprofit school providing a supportive environment for students with learning differences.

The Skirball Cultural Center Presents

Becoming American: Teenagers and Immigration

Through Jan 25 - Skirball Cultural Center
2701 North Sepulveda Blvd, LA

Featuring the work of documentary photographer Barbara Beirne, this exhibition examines the immigrant experience from fifty-nine teenagers' perspectives through the words and images of the youths themselves. Museum admission: $10 General; $7 Seniors & Full-Time Students; $5 Children 2-12; Free to Members and Children under 2; Free to all on Thursdays

The Animation Industry's Highest Honor!

The Annie Awards

Fri, Jan 30, 7 pm - UCLA Royce Hall, Westwood

Honoring excellence in the field of animation, Annie Awards will be presented in the categories of animated theatrical feature, television production, television commercial, short subject and video games, as well as to individuals who have worked on these productions. General Admission $25, VIP $250.

A Very Special Offer for Some of Our Favorite People. Our Neighbors

10% Friends and Neighbors Discount*

On Sunset at The Luxe
The Luxe Hotel - 11461 Sunset Boulevard, Brentwood
(310) 476-6571

* If you live within two miles of the Luxe Hotel Sunset Boulevard, please join On Sunset for breakfast, lunch or dinner and we'll take 10% off your total bill. It's our way of being neighborly and kicking off a new year which promises to get better and better. We believe once you experience the cuisine of our Executive Chef, Olivier Rousselle we'll become lifetime friends, not just neighbors. Offer valid 01/01/09-01/31/09

Royce Hall Organ & Film

"Speedy" (1928) starring Harold Lloyd

Sat, Jan 31, 2 pm - UCLA Royce Hall

In this popular family event, organist Tom Trenney accompanies one of the great comedies of the silent film era on the magnificent Royce Hall grand organ. Tickets $15 - $25

UCLA vs. Stanford

UCLA Men's Basketball

Sat, Jan 31, 12:30 pm - UCLA, Pauley Pavilion, Westwood

Watch NCAA Division I basketball live and in-person as the UCLA Bruins take on the Stanford Cardinals at legendary Pauley Pavilion. Tickets: $40-$52.

For all those dog lovers out there close to Brentwood, here's a great dog park close to you.

This post is supported by James90210 on Active Rain, Localism and all other blogs.

Day: Sunday

Hours: 9:00 a.m. to 1:00 p.m.

Location: 741 S. Gretna Green Way
Los Angeles, 90046 -
Gretna Green & San Vicente

City: Brentwood

County: Los Angeles

Manager: Jennifer McColm

Office Address: 19301 Caladero St.,
Tarzana, CA 91356

Phone: 818-591-8161

Website: http://www.rawinspiration.com

What's Fresh Right Now

• Spinach
• Beets
• Limes
• Persimmons
• Pomegranates
• Walnuts
• Winter Squash
• Green beans
• Asian Pears
• Chinese Broccoli
• Brussel Sprouts
• Mandarin Oranges
• Tangerines
• Avocadoes
• Honey
• Mushrooms
• Grapes

Brentwood is one of the community's fortunate enough to have a Certified Farmers Market (CFM)! Supporting your local Farmers Market not only gives you the freshest fruits and vegetables but it's also a way to give your local small business owners the support they need to stay in business in an age of large chain stores. So, go on down Sundays between 9am and 1pm to the Brentwood Farmers Market this week and every week!

This message is supported by James90210 on Active Rain, Localism and all other blogs.

5 Links to Events in October for Brentwood

Happenin' Harry's Hollyweird

A Light Touch

Zak Morgan

Greek Tradegy... Film@11

Four on the Floor Dance Party

There's so much cool stuff going on in LA that sometimes it's hard to find events just in your neighborhood. Well, we've put this blog series together to help out!

We have put this together as a series so, make sure to check back often for other regional write ups. The districts covered include Beverly Hills, Culver City, West LA, Brentwood, Westwood, Downtown, Chinatown, East LA, Little Tokyo, Westlake, Hollywood, West Hollywood, Echo Park, Los Feliz, Silver Lake, Melrose District, Melrose Heights, Beverly, Fairfax District, Miracle Mile, Mid Wilshire, Hancock Park, Park La Brea, Koreatown, Santa Monica, Venice, Malibu, Palms, Burbank, Glendale, North Hollywood, Studio City, San Fernando Valley, South Bay and Pasadena.