Jason Roebuck

Now that they are saying the right thing, let's see if they follow through and actually do the right thing. Why does Spike Lee come to mind right now? LOL

Anyway, the comments that were made out of the Secretary of Treasury this morning may sound familiar to what I have been harping on for the past couple of weeks. Here I will just post them here and then we can analyze them together:

"This is what we need to do. Because for some time we've been saying that the root cause of the problems in our economy and our financial system is housing, and until we get stability in the housing market we are not going to get stability in our financial markets," he said.

Since this is a direct quote from a news story that I read from MSNBC, I will give you the address to read the whole story for yourself: http://www.msnbc.msn.com/id/26787984/

What MR Paulson is saying here is exactly what I have been saying for some time. The only way to pull the economy out of the mess that it is in, is to save the housing market. If the banks continue to have to gouge the buyer, the buyer will continue to drag its feet about buying. Essentially what the buyout of the bad loans will do is provide liquidity to the bank so that they can offer the rates to the consumer that they should have been offering ever since the discount rate was dropped to 2.00%. Look out for the final decision to come down out of the congress in the next week, and I will leave it up to you what this means about what should be happening with rates...Hopefully, you can see what I am thinking, if not, comment me back and I would be happy to share my opinion...God Bless...Jason

I wanted to make something clear to the public at large, as well as give all of my friends who will take the time to read this blog some ammunition to combat the comment that we hear in the public. You see, I wear my nametag everywhere I go, so I was bound to hear the bone headed comment that I heard yesterday. While I was waiting for my boys to come out of school, one of the other parents commented that it is all my fault that the economy is in a shambles due to the credit crisis in the housing market. Although, it is important to express our compassion for what is happening to people's investments right now, we do not need to sit by and take the blame for the economy.

The truth is, whether you were a real estate agent or a mortgage broker over the past ten years, unless you were lending your own money and now you are asking the government to step in and save your company because of the bad loans that you did, you had nothing to do with what is happening to the economy. More importantly, if you have survived this market this long, you are committed to bringing the housing market back to life, which is the only way the economy is going to get back on track.

I didn't take it that far with my adversary yesterday, I just simply explained that I have been in retail only for the past two years, and I have not done even one loan that could be termed a sub-prime loan. I make a special effort to look at the reasonability of repayment before I would even look at submitting a loan to a bank. The truth is, the bank used to try and talk you into doing all kinds things that would be considered unethical, if not an outright lie. Anyway, keep your head up and know that as the market shakes out some more names that might shock us, we are going to be instrumental in proping the market back up, by selling houses and making good loans...God Bless...Jason

A couple of weeks ago, I decided to start coming in to the office on Saturday from 10-4pm. So far, my business started picking up considerably since I made that decision.

• Have I actually taken any applications on Saturday? No.
• Have I gotten any referrals from the agents in the office on Saturday? No.
• Have I been able to get a lot of work done on Saturday that I can't get done during the week? Not really.

However, my mind set towards my career and the mind set of my supporting cast (my family) has changed considerably. I think that is what has led to my business picking up. My family has been so supportive of my career since I made the decision to step outside of the box and do something different than what I had done before.

I have also received a couple of atta boys from the Realtors in the building that have noticed that I was here on the weekend. One of the heavy hitters even told me that the next time he needs a preapproval, he is going to just walk him into my office. Of course, I had to tell him that we are having our son Baptized this Saturday, so I won't be able to be available this Saturday, but I will be here every other Saturday from now on. He told me that if I keep it up, it will definitely pay off once everyone knows that I am here to support them on Saturday. Thanks for reading...God Bless...Jason

Do you remember the day?

• 100% stated income/stated assets non-owner occupied loan
• 90% No Documentation Loan
• 75% We don't care Loan

Back to reality -

• 100% USDA Rural Housing Loan - property and income must qualify.
• 97% FHA Loan - Borrower contributes at least 3% (can be a gift)
• 80% Stated Income loan - Borrower should really be self-employed and have a good reason that they can't document their income. (not just their accountant shows too much depreciation)

The purpose of this post is to say that as long as you are doing a good interview with your customer. You can usually find a product that works for them. Now, it just has to make sense. If someone needs to state their income, it should be because they make a lot of money and therefore have a lot of money for a downpayment.

As for the 100% USDA Rural Housing Loan, I would like to provide you with a link to check and see if you or your property qualify. Please let me know if you have any questions...God Bless...Jason

http://www.jasonmroebuck.com/FirstTimeHome

You can click on the rural housing eligibility link in the 100% financing mortgage loans section at the bottom of the page.

I was approached by a fellow loan officer about her concern about me targeting reverse mortgages to jump start my business...I will say that she started out saying that although she is afraid of the mortgage product because it slowly eats away at the equity of the older persons home, she would be ok with me being the one that is doing the loan for them. Thanks, I think.

Here's the news:

1. A reverse mortgage cannot be done for a customer until they have gone through counseling, that is not attached to their mortgage consultant.

2. If my fellow loan officer was really concerned about the customer's well being, wouldn't she be more concerned about their quality of life and not their equity in their house.

3. It is my goal to be able to help as many people as I can, not so that I will end up as a very rich man, but so that when I retire from being a mortgage loan consultant, God tells me, "well done, my loyal and faithful servant." (Sorry, if by doing reverse mortgages, I just might have a few more people in heaven talking about the great job that I did, than the standard mortgage loan officer.) j/k

I am looking forward to many years of working in this crazy industry to satisfy as many customers with honest and trustworthy mortgage loan products as I can possibly provide. It really makes me wonder about how bad the mortgage market has gotten when one of your own questions your motives. I guess this is why I have not listed any of my co-workers as accountability partners or motivation coaches. When it comes right down to it, we only have our families and our God to count on, when we need someone to believe in us. Our families can leave us hanging too sometimes, but at least I know that God will always be there. You can check back on my profile soon to see the latest addition to my staff. I have not decided yet whether to just call her the boss, or my marketing/advertising representative. She is my wife and I look forward to having her come back on the job full time when the baby starts to give her more free time...Thanks for reading my rant today and God Bless you...Jason