Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published. His website is www.originationpro.com. If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at email@example.com.
Single-premium mortgage insurance allows your borrower to pay for MI in a lump sum, rather than monthly
The advantages and disadvantages of lender-paid mortgage insurance
Credit scores can change literally overnight. Just because your customer has a recent credit report, that doesn’t mean new information hasn’t been added in the interim
Sometimes it’s a comedy, sometimes it’s a tragedy. But how else is your credit report like a movie?
Many originators think their database should only consist of previous customers. But the broader your database is, the more good you’ll get out of it
The average loan officer’s contact database should be in the thousands – but typically it’s only a few hundred
Many times a loan officer will run the numbers and pick the MI option that produces the lowest payment for the client. But payment isn’t the only factor that should be considered
While using a second to avoid mortgage insurance may be a possibility for some, you’re doing your clients a disservice if you don’t explain all their options
Assuming that when you give a referral out, you’ll get one in return is a big mistake. You need to outline your expectations
Typically, when a loan officer offers a referral but doesn’t get anything in return, they’ve chosen the wrong real estate agent to do business with