ATTENTION! Mortgage insurance companies are adapting a similar rule as FHA in regards to flipping properties. This will impact the mortgage market starting 10/12/2009, not leaving us with much time. If you have Conventional buyers above 80% loan to value, please make sure the mortgage insurance has been ordered prior to this date. This is coming out at rapid speed 3 out of 5 mortgage insurance companies have adopted this rule. The other two are in the process and have strict requirements to do a loan under 90 days and I believe they will be changing their rules as well within the next couple of weeks. Also, ALL are requiring restrictions up to 180 days much like FHA does with requiring improvement details, appraisal reviews & extra underwriting requirements. Please prepare your buyers and sellers, this is something that will impact all of us. If you have sellers/investors, make sure they are making sound upgrades and keeping ALL receipts of services performed. Fannie Mae & Freddie Mac have not adapted this rule YET, but there are talks of doing so. Please be prepared.
Below are a few guidelines of what is NOT a flip.
•· A lender, mortgage investor or a mortgage insurance company that acquired the property as a result of a foreclosure or deed in lieu of foreclosure
•· A spouse who acquired the property through a divorce settlement
•· An employer that acquired the property through its relocation program
•· An administrator, executor, or personal representative selling property of an estate
I'm here to be a resource for you, if you need anything please do not hesitate to call me!
Catherine Eusea
Selling Branch Manager
Eusea Team at Prospect Mortgage
2032 Caribou Drive, Suite 102
Fort Collins, CO 80525
720-300-6777 Direct
866-598-0647 Fax
As the month of August ends I regroup and think of what could I have done to improve my business and the communication with my clients? It then dawned on me that this was an unusual month. I was working 
with three buyers and no matter how much I encouraged them to work with agents that I knew was competent and proficient at their job, the buyers went with a family friend. I knew this was going to be trouble, not only was this dealing with family in the 2 out of 3 cases, all three of them worked full time jobs!
In this day and age, the business is far too complicated and forever changing that to do this job part time is an injustice for not only the buyer but everyone working with them. I can handle new agents who are putting 120% effort toward learning and executing but not part time agents or professionals who want the mad money of real estate and the stability of their jobs.
All three transactions were a mess, unorganized and because none of them had experience with FHA & VA loans did not know what to do. They took the most of my time, I remember conversations with a Realtor that lasted 1.5 hours trying to go over inspection items because she didn't know what would and would not be a problem with the FHA appraiser....even after I sent her the link. Not to mention, I got that 7-9pm call from one of them every night to go over the file because they were at work all day.
2 out of the 3 buyers were extremely dissatisfied; with one buyer it cost them an additional $300 for a survey that was not needed because agent didn't pay attention to the title commitment. 2 out of the 3 buyers have already sent me an e-mail on how they would never do this again, with family or a part time agent and why. I'm going to frame it and next time a buyer says "I want to use a friend of the family's that is also a part time agent" I'm going to have them call these very disappointed buyers or read the letters.
I read a great saying today that says "IF YOU DON'T RISK ANYTHING, YOU RISK EVEN MORE!" Erica Jong. It is so relevant here!
So here I go, I was asked to help the Womens Council of Realtors to learn a bit more about social networking. At first I thought "hmmm I can do this, I'm on this thing all the time" and then it dawned on me that I still have a lot to learn.
So I need your help, can you please help me shed some light on what your best starting tips would be for a group that has little exposure to Active Rain and Social Networking.
Think of this as a Social Networking baby shower and you have to write on the little index cards to provide the soon to be parent of Social Networking your best tips, tricks, alerts, and advice you have.
Who better to turn to than the KING/QUEEN of Social Networking!! I will be covering Active Rain & Facebook so feel free to throw them both out there!
Catherine Eusea
I'm struggling, I have two credit repair companies that I have been working with for a while now. I send them business, they accept the business I send by signing up the clients, take their money and then time goes buy...nothing. I have a client that 18 months later (at $69 a month) he is told by the repair company that his credit is 50 points higher and I then pull the borrowers credit and the score is lower than before and nothing has been done.
Unfortunately, I do not have the time to help these folks clean up their credit....this is what these companies get paid for.
So I ask the real estate world out there, are you working with a competent credit repair company and if so send me their contact information. Or do you feel it's all a big scam?
Thanks for your help....as always.
Catherine Eusea
Did you know that the Home Buyers Scouting Report is one of the top home searching websites? It was never open to the puplic and in order to get on the system you needed to be referred to it.
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Catherine Eusea
Senior Loan Officer
National City Mortgage,
2032 Caribou Drive, Suite 101
Fort Collins, CO 80525
720-300-6777 Cell
970-212-2228 Direct
970-266-1076 Fax
APPLY ON-LINE
I live by the motto...work from your heart by taking care of the heart of my business...my clients. I promote and have always promoted doing good loans & I accept nothing less.
With more than 12 years focusing on sales and customer service, I have learned first hand the critical importance of providing top notch customer service. My clients are my primary concern, and my goal is to build long-term relationships by earning their trust. To do so, I go the extra mile to ensure my clients are satisfied. I am extremely proud that referrals are the core of my business, which is a true testament to my unwavering commitment to meeting my clients' needs.
With my excellent follow up skills and can do attitude, I adeptly guide my clients through the home loan process with ease. Honest, helpful, and trustworthy, I only make promises I can keep and do what I say I will. I apply my persistence and extensive knowledge to find options that are best suited for each client's unique situation. I love the variety the mortgage business provides and enjoy working successfully with all different types of borrowers.
90% of my business are working with 1st Time Home Buyers, my loan process from start to finish focuses on make sure that the first buyer understands the loan process. I try to make sure that my buyers not just trust me but know for themselves the type of loan they are getting into. I make sure that home buyers get the right start with the right loan. Because of this, I have been named as one of the top loan officer for Colorado Housing and Finance Authority for several years running. I'm an approved lender for the City of Fort Collins, Larimer County, Boulder County and the City of Longmont, CHAC down payment assistance programs. I'm not a lender who sugar coats things....I tell it like it is. If the deal is not doable at them moment then I will not waste your time. However, I will take the time to make sure to help the borrower get their loan in line.
I am a former military brat with my roots in New Orleans, Louisiana. I have lived and worked in Northern Colorado since 1996, with my husband Chad and our two boys David and Michael. I enjoy motorcycle riding, wake-boarding, football, hiking, scrap booking, photography, and traveling with my family.
Are you looking for a lender to have a true partnership with, a team member to your game plan and someone who works side by side with you? Well, lets sit down and chat!
I have been working with the Home Buyer Scouting Report for 6 years, I know everything about the system and I have had several successes on the site. I see myself as a partner with you on the site, helping you gain confidence with new buyers by working on your behalf. The great thing about this is I'm no longer waiting at the bottom for your leads, I'm right there with you developing them!
While other lenders are just learning FHA and other government loans, I'm teach classes on how to come up with creative ideas to counter act this market. In my 6 year career I have focused on government loans instead of subprime loans so this is nothing new to me.
Being first time home buyers, we found the Scouting Report to be extremely helpful on finding our perfect house. It was an easy time management tool because it eliminated houses that we were not interested in just from the snapshot online or location. We would save our homes of interest and when making an appointment with our Realtor, he would then only take us to the homes on our list. After viewing our homes, we could make notes in the Scouting Report to know why we may or may not be interested in our choices. On a financial side, we were able to only view houses in our budget and not even consider houses we knew would not be a good financial decision for us later on. Now after recently purchasing our home, we find that we still use the Report to know which houses around us are still on the market, or which houses in our neighborhood are now on the market and their asking price to compare the value of our home. We feel that had we not had this Report, we wouldn't have been as successful in narrowing down our perfect home. Thank you Catherine and your team for making this site available!!! First Time Home Buyer -Nicole and Matt Wickett
Catherine was excellent, I couldn't have asked for a more professional loan officer. She is an outstanding person and listened to our needs.
First Time Home Buyers - Karen & Mark
We had an excellent experience with Catherine Eusea. She was very informative about loan options and answering all our questions and phone calls promptly.
First Time Home Buyers - Brandon & Jenny
Catherine was a pure pleasure to work with. I was spoken to in clear and regular terms. I would highly recommend her to others looking for a mortgage.
Home Buyer - Chris & Shelly
Catherine was just a wonderful person to work with! She was very understanding of our situation as intimidated, frightened, nervous 1st Time Home Buyers and held our hand through the whole process...which is what we needed.
First Time Home Buyers - Diane & Steve
Catherine went "Above & Beyond" to help us find insurance on a unique property, I had called every company in the phone book...every company had already spoken to Catherine. She knows what she is doing!
Buyers moving here from California - Steve & Ruth
With your help I was able to buy a house where I wanted to live, not where I had to live! Thank you for making a dream come true!
Home Buyer - Tom
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