| Author |
Previous Topic | Next Topic |
|
ADenton
38 Posts |
 Posted - 07/23/2008 : 9:58:12 PM
|
DISCLAIMER: This topic contains co-broker related content. Please note that the term co-brokering is often used in inquires that involve illegal fee splitting or kick backs. This site does not condone these activities. Details related to Respa Section 8 violations can be found here. If you feel the content of this topic may be in violation of any law, please report it to the moderator by clicking the red notification icon above. Thank You.
Although I am avery experienced and successful loan officer, I know very little about loan mods.
What I do know is that I talk to at least one person a day who could benefit from a modification of some sort and doesn't qualify for a loan. And I also know that I can make additional money by referring them to someone.
Please post and tell me how the referral process would work, what your qualifications are to do loan mods and what type of compensation I can expect.
Most important part of that is that you are qualified. Even though they are my turndowns, they are MY turndowns and I don't want to refer them to someone who doesn't know what they are doing or doesn't have the best interest of the client in mind.
Maybe I am thinking about taking the wrong approach. I read about many of you doing mods in addition to originating. My thoughts are that I am busy enough originating and wouldn't have time to do mods. Am I wrong in thiking that ? Would it be a good idea to learn the mod side of things and doing them myself. I have read about some of you who offer a correspondent type program. If this is you , explain that to me as well.
Also, if loan mod referral is looked at as co-brokering please disregard my request as I do not want to do anything in the grey area. But as far as I know this is perfectly legit business relationship. |
|
jvjvalerio
16 Posts |
Posted - 07/24/2008 : 12:12:01 AM
|
| I CAN DEFINITELY HELP YOU OUT WITH THIS. I HAVE FOCUSED ON LOAN MODIFICATIONS AND SHORT REFI'S FOR THE PAST 3 MONTHS AND I HAVE BEEN EXTREMELY SUCCESSFUL AND I HAVE ATTORNEY BACKING ON THESE DEALS. I HAVE NOT YET RAN INTO ANY PROBLEMS. THE CLIENTS THAT BEST FIT INTO THE MODIFICATIONS ARE THE ONES WHO ARE UPSIDE DOWN ON THEIR MORTGAGE, ARE IN FORECLOSURE, OR HAVE A HIGH ADJUSTABLE RATE AND CANT MAKE THEIR PAYMENTS. I HIGHLY RECOMMEND YOU DO RESEARCH ON LOAN MODIFICATIONS AND GET INTO IT FOR YOURSELF YOU'LL DEFINITELY BENEFIT FROM THIS. |
|
|
Dan-NewLifeLendi
286 Posts |
Posted - 07/24/2008 : 8:25:58 PM
|
Give me a call and I'd be happy to take some time to show you how to profit from modifications.
Regards,
Dan
New Life Lending
http://www.newlifelending.us
dan@newlifelending.us
"Wholesale Loss Mitigation, Loan Modification & Debt Settlement Services in 41 states. Our programs turn your impossible loans into cold, hard cash."
|
|
|
darkstar
18289 Posts |
Posted - 07/25/2008 : 03:58:25 AM
|
| Aaron, call me, I'll hook you up! |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
