For those of you keeping up with the many changes and regulations that are impacting the real estate and lending environment, we can chalk one up for the home team! A clarification was made to Reg Z guideline that governed the redisclosure of loan docs if the APR was more than .125% different from originally disclosed. This used to include both an increase and a DECREASE in fees to the borrower. Now, Reg Z has been updated to reflect that only an INCREASE in fees will result in redisclosure. A decrease of .125% or more is no longer an issue.
Finally, logic is winning out.
Scott Cummins
WOW - 3 minutes. What can you do in 180 seconds:
Heat up an entire bag of popcorn
Drink a small carton of chocolate milk - ice cold of course
place an ill advised wager and double down on a 12 in Las Vegas
Tie your child's shoes
Brush your teeth
Post a blog and watch it disappear from the front page of Active Rain
Staying in front takes a lot of work - guess there is a lot to be said, and a lot of people saying it.
So: What can you do in 180 seconds?
See you at the closing table!
Scott Cummins
www.TeamCummins.com
If a man jumps out of an airplane without a parachute, does he experience any risk?
NO. He know exactly what is going to happen. Therefore, risk is a measure of some level of probability relative to a known possibility. If I tell my wife that I am going to be at the Moran Team annual party for just an hour, I run the risk of really ticking her off. Why? Because it is highly probable that I won't come home in an hour and distinct possibility that she will be in a mood just south of happy. Enough said.
So, are there risks in Real Estate? You bet. "Is this purchase risky?" You bet. Your job, then, in some respects, is to mitigate those risks and build a confident and educated client. Just thought I would provide some perspective.
After all, if it were easy.... everyone would do it!
Scott Cummins
www.TeamCummins.com
When your customers are engaged, something amazing happens - a Relationship! To stand out of the crowd of lending professionals in the area, we have focused, not on facilitating a transaction, but creating a relationship. I have witnesses, and experienced real estate transactions that literally had a clock ticking on the the life of the relationship built up by the realtor. One the loan "funded" there was a faint sound of a flatline. Yep, the relationship had died. It had served its purpose and was now no longer needed. No CPR, no resuscitation, no "Clear!" being yelled. I liken it to a raisin. All raisins start out as grapes. Some of the grapes are picked, savored, squeezed for all they are worth, then allowed to dry out. But, some of you do great jobs of bringing new life to these "sun dried" relationships and breath new life into them. Yep, much more than just your newsletter is required - a personal touch. Sometimes, the simple things are what matter. The secret to a healthy crop of grapes is tending to them and making a lasting impression. Kudos to all of you that tirelessly work at this each and every day.
For a little inspiration - visit http://www.crmlearning.com/fish-video
Enjoy!
Scott
Have you handled a shortsell recently that took less than 90 days to close? It is amazing to me that bank owned REOs are just riddled with bureaucracy and take forever to get completed.
Realtors - if you have had a non hair pulling experience please let me know. I would like to collect data on which banks are doing them relatively well.
Scott Cummins
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Scott Cummins, Senior Loan Officer for Cornerstone Mortgage Company
Scott Cummins, Senior Loan Officer for Cornerstone Mortgage Company is known for his professional mortgage planning expertise, integrity and dedication to stellar customer service. With more than 10 years of experience, he creates a lasting impression of trust and confidence; treats each and every client like they’re family; and is available long after closing to monitor a client’s equity position and provide timely mortgage advice.
His commitment to 100% customer satisfaction brought him to Cornerstone Mortgage Company. Through Cornerstone’s "Customer for Life" program, Scott provides clients not only with state-of-the-art technology and instant accessibility, but also with expanded customer services unparalleled in the industry.
A Summa Cum Laude Graduate with a degree in Business Administration and Economics, Scott is member of the Greater San Antonio Builder’s Association. Scott is also an avid runner and recently completed the San Antonio Rock & Roll Marathon. His greatest pleasure though, is spending time with his wife and two boys.
At Cornerstone Mortgage Company, you will discover an atmosphere of enthusiasm, a spirit of dedication and a great desire to build quality relationships. In-house underwriting, fast prequalification, a nationwide array of investors to choose from and online access are all backed by what Scott considers the most important aspect of the mortgage transaction-personal attention.
Experience the Cornerstone difference and rely on Scott Cummins for all of your residential mortgage needs. Please visit us at www.teamcummins.com
Do you have any good testimonials that clients have provided you in the past? Be sure to add them here.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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