A. Your first step should be to contact your state and local realtor
A. Your first step should be to contact your state and local realtor
Based out of Boise, Idaho, McBride Financial Services is a small mortgage lender that is in its beginning stages. The firm’s focus will be in standard, FHA, and VHA loans for home refinancing and purchasing. The company hopes to increase its offices into Wyoming, Montana, North Dakota, and South Dakota. “McBride Financial Services will be the preeminent provider of low cost mortgage services using state of the art technology in the five state area of Idaho, Montana, Wyoming, North Dakota, and South Dakota.” (University of Phoenix, 2005, 2011, para. 2). McBride Financial Services has decided to redesign it’s marketing plan so they can reach individuals that fit the profile of the type of consumer that their services are created for. Now let us look into what it will take to create a strong marketing plan for McBride Financial Services.…
McBride financial services should concentrate on the individuals as well as families, who are eligible and can pass the criteria to take a mortgage loan. In addition, the firm can target retirees and other small class executive. Other interested sources for the company are builders, first-time homebuyers, other realtors, etc. who wants a mortgage on low interest rate (Kotle, 2002).…
a key role for the success of the project. Retrieved July 25, 2010 from Management Hub Website at http://www.management-hub.com/project-reporting-evaluation.html…
This case study talks about the difference between legal fees and illegal kickbacks between mortgage barrower, broker, and lender. Bettina J. Scheutz (the barrower) thought it was unfair that she had to pay an additional $516.00 to Home Mortgage Financial Corporation (the mortgage broker) for the yield spread premium. She already paid them $1,661 in direct fees, consisting of $688.00 for loan origination, $688.00 for loan discount, and $285.00 for processing, but Banc One (the mortgage lender) also gave Home Mortgage Financial Corporation a yield spread premium of $516.00 which is paid by the barrower through a higher interest rate. This payment was identified on…
McBride Financial Services wants to expand its customer base and needs ideas on what to put in its new marketing effort toward this goal. The company will conduct a market research to achieve its goals. The marketing and promotion will be done through the television, radio, newspapers, and internet. By hitting the target audience with the marketing strategy McBride Financial Services will be successful in expanding its customer base.…
Those involved in the mortgage lending process have some duty to the borrower. They are expected to perform their specific duties in an ethical manner and have some form of direct or indirect contact with the client. Banks (Prime Market): Banks are lenders who generally handle all facets of the lending process through their own institution. They function differently from brokers in that they usually only service those clients with good credit ratings/scores of 700 or more. Mortgage Brokers (Sub-prime Market): According to HUD, the Department of Housing and Urban Development, mortgage brokers are involved in about sixty percent of all mortgage loan transactions. Brokers try to find the best loan for their clients by shopping their loan applications around to lenders who are willing to accept the clients credit package. Brokers generally service clients, known as B-C-D credit clients, with ratings/scores of 650 and below. In some instances, a major problem for borrowers is that a broker may work in the best interest of the lender as well. Furthermore, in some states they can act as brokers and lenders. Brokers can be considered dual agents. Brokers (1) originate loans using "table funding" provided by a pre-arranged buyer of the loan (2) originate loans using a line of credit from a bank/financial institution (3) originate loans using their own funds (4) bring the borrower and lender together in a transaction that they do…
It appears that Mortgage Lenders of America provides excellent service overall, with a few rude associates responsible for the negative reviews. Nearly every negative review talks about discourteous comments, not poor mortgage…
References: Bond, P., Musto, D.K., & Yilmaz, B. (2009). Predatory mortgage lending. Journal of Financial…
Please find below a personal example of our recent dealings with a finance and mortgage broker.…
Fannie Mae and Freddie Mac impacted the home loan advertise by expanding home proprietorship rates in the United States; in any case, as history has demonstrated, permitting Fannie Mae and Freddie Mac to work as suggested government-sponsored syndications had real repercussions that far exceeded the advantages these associations…
ADEQUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE…
agents will hold out for the best deal possible when selling their own home, but encourage you to…
Twenty-five years ago, the banking industry successfully eliminated a critical restriction: the limit on the interest rate a lender can charge a borrower (“Do You Know What You”). These restrictions were known as usury laws. These laws were in effect for centuries prior to the 20th century (Geisst 2). Usury laws were established to protect the borrower from predatory behavior (Geisst 3). “Prior to the 20th century, charging interest on loans was considered heresy by the church. Anyone caught charging excessive interest was excommunicated and often punished” (Geisst 3). Banks fought for restrictions to be lifted arguing the usury laws were standing in the way of progress (“Do You Know What You”). Banks won the battle over consumers. The deregulation of the usury laws occurred in the early 1980’s and created a whole new invention, the unsecured credit card.…
Now that you have completed all the budgeting steps and have gotten preapproved for a mortgage loan, you can finally start looking at physical homes. This is where determining the difference between wants and needs comes into play again which is where a real estate agent comes in hand. Finding a real estate agent is step five in the home buying process. Once you have narrowed down the area you want to purchase a home, you want to find an agency that works in that area. To find a local agent you can ask for recommendations from trusted people who have bought recently, which is the best way, or using online aids is also a good way.…
Meta Description: Select a Broker can help you find the right mortgage plans for your loan needs. Call us toll free on 1300 510 045; we are available 7 days until 9PM.…