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MisterVA
6765 Posts |
 Posted - 04/02/2008 : 12:05:55 PM
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| Has anyone used them? How are they? My old FF rep went there in January. Are you required to buy leads? How expensive are the leads? |
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jpar994
885 Posts |
Posted - 04/02/2008 : 12:12:49 PM
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They are pretty good it seems pretty fast turnarounds on underwriting. I have closed several deals with them. We dont but leads for them all we do is use them as a lender
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MisterVA
6765 Posts |
Posted - 04/02/2008 : 12:28:15 PM
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| Thanks. |
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WorldWideWayne
2542 Posts |
Posted - 04/02/2008 : 1:44:10 PM
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Here's the deal with them...you must be signed up with them as a wholesale lender in order to buy their leads. Also, before you can buy any leads from them you must first send them a reverse mortgage or two or three before they will bless you by selling you their leads.
They will monitor how many leads you buy and what you fund through them and will cut you off if you don't fund enough with them.
Illinois prices are $50 for rural ill and $80 for Chicago and suburbs. Vermont is $50 for the whole state. |
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vangustia
2 Posts |
Posted - 08/06/2008 : 11:50:51 AM
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| Can probably make the most with LLS or SLN on the ysp but service is not the best. Over kill in disclosures and very picky on appraisals. i understand compliance because foreard FHA and VA loans require scrutiny in terms of disclosures but they pound on you and can delay closings. JB Nutter is probably the smoothest. |
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WorldWideWayne
2542 Posts |
Posted - 08/06/2008 : 11:53:09 AM
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Victor
Welcome to BO.
Since your first post was on reverse, can I assume that you do reverse? |
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mortgagemessiah
8003 Posts |
Posted - 08/06/2008 : 12:08:50 PM
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quote:
Originally posted by MisterVA
Has anyone used them? How are they? My old FF rep went there in January. Are you required to buy leads? How expensive are the leads?
We used to buy them when I worked for a 1st Met branch up in Michigan. They're okay but kind of pricey.
Steve Dibert
MFI-Miami, LLC
www.mfi-miami.com |
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Reverse Mortgage
16 Posts |
Posted - 08/06/2008 : 4:47:56 PM
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Important to remember that you are not required to purchase leads, it's an option. I personally do not promote the purchase of leads from us in my area. Most margin options for HECM LIBOR (both CMT and LIBOR offered), and jumbo.
Much has changed since the beginning of the year with LLS with the addition of experienced, external reps. Sidenote - LLS wholesale is rebranding to Senior Lending Network wholesale further distinguising ourselves from the lead side of the company. |
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vangustia
2 Posts |
Posted - 08/06/2008 : 5:50:23 PM
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Yes sir. I do reverse.
quote:
Originally posted by WorldWideWayne
Victor
Welcome to BO.
Since your first post was on reverse, can I assume that you do reverse?
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U812
413 Posts |
Posted - 08/07/2008 : 04:05:23 AM
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| Their Leads are pricey and not necessarily as vetted as one would like. I've had no problems with the U/Wing or on Appraisal review. Their site is pretty good and pretty easy to learn how to navigate and use. |
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rainmand
3974 Posts |
Posted - 08/07/2008 : 5:10:33 PM
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| I tried them and it was painless. LLS, JB Nutter and Generation Mortgage seem to be the easiest to do business with. |
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