Little Known Secrets for Your Writing Ambitions
Everything changes when you finally become an “author”. But the process isn’t easy. Learn the 3 publishing options for aspiring authors and which makes the most sense for your topic and your audience.
Here’s a detailed list of topics covered in this full-length audio program:
The Source of Mortgage Money
- Find out the 2 broad categories where mortgage money actually comes from.
- Source #1: recycled bank deposits and how the banks make money lending it out.
- What type of loan products this money finances and who controls the interest rates.
- Learn how the FED influences the economy through the bond markets.
- Find out how the supply and demand for investment capital affects interest rates.
- Learn how the LIBOR and MTA indexes are affected by the actions of the FED.
- Discover how the Prime Rate is calculated and what loan products it impacts.
- Source #2: “investors” on Wall Street, who they are and where their money comes from.
- Understand the 3 categories professional money manager invest their money in.
- How the money managers make their money available to the mortgage industry.
- Fannie Mae and Freddie Mac and the role their underwriting guidelines play in the industry.
- Learn about what constitutes a “conforming” loan and what constitutes a “jumbo” loan.
- Find out about the sophisticated automated underwriting platforms available on the internet.
- Why the past 25 years has resulted in “excess capital” in our economy, driving low rates.
- Why we saw record low interest rates in 2003 and a flood of new innovative loan programs.
- How you make payments to the large banks even though they no longer carry the paper.
- The global financial markets and how offshore money ends up in the American housing market.
- How the world population lends money to itself, balancing savings against debts worldwide.
The Hierarchy of Lenders
- Why “you’re already approved” is evidence you’re getting a poor loan program.
- Be introduced to the ladder of lenders, including A-paper, Alt-A and Subprime programs.
- Find out what category is below Subprime and what they look for to approve applications.
- Learn what you get when you’re at the top of the ladder, and what you need to qualify.
- Learn why many Mortgage Brokers push their clients DOWN the ladder instead of up.
- Why a Mortgage Broker who asks for everything is probably doing you a favor.
- How new more accommodating loan programs were introduced during the past 25 years.
- Understand the increasing popularity of Subprime loans in 2001, 2002 and 2003.
- Learn about the near impossible predicament Subprime borrowers find themselves in.
- Uncovering the upside of Subprime loans and how they increase the value of ALL homes.
- Learn what you need to do (and how much time you have) to get out of Subprime loans.
The 3 Pillars of Underwriting
- Learn the 3 central pillars to the underwriting process: credit, income & assets.
- Find out how rates get better as your statistics improve in all 3 areas.
- Where Mortgage Brokers get your credit score and what opportunities you have to improve it.
- Where Mortgage Brokers get your income and asset information and your options to verify.
- Learn about the 4 different documentation levels and the pricing implications of each.
- Find out the original rationale behind “stated income” programs and how they’re used today.
- Find out the only documentation level where your 2-year employment history is not checked.
- Learn the credit score ranges within A-paper, Alt-A and Subprime loan programs.
- Find out how income is considered and one of the most important ratios in the industry.
- Learn the 4 primary things that are included when underwriters evaluate your expenses.
- See how Subprime income requirements are so loose, foreclosure is virtually guaranteed.
- Learn the 2 different ways underwriters evaluate your assets in the application.
- Find out what percentage of retirement funds you can include in your assets to qualify.
- Learn what asset reserves are and how they’re calculated, depending on your payment.
