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Welcome To MortgagePro News !!
Your Business Resource On The Internet Richard HeadShot
Are you feeling the pressure of the decline in the mortgage industry? Are you wondering where your next lead will come from? Are you afraid you will not be in business by the end of the year? Do you take your cell phone to bed with you to make sure you do not miss a call?

We are here to help. We bring together in one convenient place all the resources to help keep you on top of what is happening and the training to help you make your business Thrive Now!!

Click the "Read More..." link below to find out how we can help you!
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Mortgage News Daily
 

Ask The Expert

What is Stated Income
Written by Dave Hershman   
Ask The Expert
Q:I would like your opinion on what is stated income.  It seems to me that many loan officers treat stated income to mean inflated income. I understand there are legit situations where this method may make sense. However to take a low hourly worker and gross up the income from sources outside of the loan transaction seems to be treading on predatory lending tactics.  What is your position on something like this?  Do you know of a definition of this term?   Thank you in advance.    

 

Jim Anderson, Compliance Officer, Carteret Mortgage

A: We spend a good amount of time in our three-day school within the areas of the laws and ethics. It is my opinion that more than 50% of the predatory lending that occurs in the industry does so because loan officers are not properly trained and not because

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Spotlight Article

Top 5 Reasons Why Short Sales Crash
Written by Dave Peeples   

Many real estate agents and real estate investors spend a lot of time, money, energy, and effort working short sales without having an Idea Why Short Sales Crash. In this article, we are going to discover the Top 5 Reasons Why Short Sales Crash.

Let's start with the basics. A short sale occurs when a seller and lender agree that a home owner may sell their property to a third party for an amount that is not sufficient to satisfy all the liens against the property. In the case that their are multiple liens, then all lien holders must agree to the arrangement (this can be tricky).

Short Sales are advantageous to wise owner occupants and investors alike who desire to

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Financial-Market Update

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