MORTGAGE BROKER?

Well, I am back. I am trying my best to get some work done, but it is tough, I am having Cruise Withdrawals. For one, I feel like the room keeps swaying back and forth. Also, it has been 3 hours since I ate any food—anyone who has taken a cruise will tell you that 3 hours is much too long to wait in between meals. So, I got a bit of a tan, I gained some weight, and I saw some parts of the world that I had not yet visited. All in all it was well worth the time away.

I met some great people on the ship, several of whom asked me about my career. Upon hearing the term “mortgages” I noticed that people both got a look of fear and tried to excuse themselves immediately, or they asked how I was dealing with the turmoil in the industry. Suddenly it hit me: People have no idea what a mortgage broker does.

It’s actually pretty basic: I get people money for their homes. That’s it. I am not some scary con-man out to take away your precious gems or steal your retirement. You don’t need someone like me. If you have a few hundred thousand dollars extra then pay cash for your home. That’s fine by me.

For the other 99.9% of the nation, a mortgage broker may not be such a bad idea. I have access to hundreds of banks and lending institutions. I have processors that specialize in knowing what you need to get a loan with the least amount of hassle and headache. I have experience negotiating with underwriters to get you the quickest turn times possible. And, as a broker, I have the flexibility to get you loan programs and rates that are more aggressive, or better suited for your needs than the guy at the bank.

I am no different than any other Mortgage Broker (well, I actually think I am quite a bit different—I think I care more, work harder, know more, and save you more, but you get the point). So, why the concern? The average home owner will refinance every 4 years. The average home owner will buy a new home every 10 years. Until incomes jump off the charts, people will need a loan.

As for the current industry, well there isn’t much I can do about it. As I have said previously, things will improve. Rates are still low, and fees are competitive. Lender guidelines are already starting to become more liberal, and more money is slowly becoming available. It is not time to panic. Instead, it is time to carefully re-evaluate your financial objectives and make sure you are utilizing your assets wisely.

Anyway, I am glad to be home, but I have so much to do both at the office and in my yard to make up for a week away.

Have a good day—catch you tomorrow.