How Mortgage Brokers & Loan Officers Can Survive This Mortgage Market!

Most mortgage brokers and loan officers in the mortgage business right now are panicking. They are worried about where their next check is going to come from, now that the purchase market & sub-prime re-finance markets have collapsed relative to their recent highs. n nWhen faced with adversity, most professionals in the mortgage business fail to ask themselves good questions that will lead to progress even in a down market. Instead, most panic, and ask: n n- Where is my next check going to come from? n- Where can I get my next purchase deal?n- Where can I get my next sub-prime deal?n nA lot smarter approach, is to ask entirely different questions of yourself when faced with a "crisis." For example ask yourself, "now that the purchase market & the sub-prime refi market have collapsed relative to their recent highs, what loan types or niches are immune to the current 'mortgage meltdown?'n nWhen you ask yourself this kind of "good" question, instead of the prior "inferior" questions, you get much better answers like:n- Reverse mortgages n- A-paper ARM resets n- FHA streamline refis n nHow Marketing Reverse Mortgages Will Help You Survive the Real Estate Market Downturn n nReverse mortgages are not "risky" loans in the eyes of investors. The borrower's ability to repay the loan does not matter. The security in the loan is the borrower's property, and income and non-subject property real estate assets are simply not an issue, and need not be present in any amount or quality for the loan to perform just fine. n nIn fact, the loan doesn't have to do anything to perform. It's an automatic success for the investor. And, as such, this loan product and this niche, is an automatic success for the mortgage broker, banker, and loan officer. Or, at least as close as we can get.n nHow ARM Resets Will Help You Stay Afloat in a Sinking Real Estate Marketn nA-paper ARM resets market is another perfect choices for mortgage professionals, as so many investors during the recent refi boom got themselves into ARM products. Now they need to get into a fixed rate. Or, even if they don't need to, they think they do. Their fears are being fed by the media, and even those with years left on their fixed-rate periods think they need to lock in a rate for 30 years.n nHow Marketing FHA Streamline Refis Will Help You Achieve Higher Profits Even When the Real Estate Market is Fallingn nThe FHA streamline refis market is another good choice for mortgage brokers, loan officers and mortgage bankers. Why? Because even though so many sub-prime lenders & investors have left the playing field, FHA is expanding. n nIt's hugely popular with both political parties. It simply has no political enemies. Remember, voters love the idea of the government helping families buy, refinance, and work-out their existing loans via FHA-insured financing. So, it's not going away, it's getting bigger. And as it grows, so can your mortgage business.n nYou Have Choices, So There is No Need to Panicn nLet others panic when times get "tough." Then, when they've left the room, or the business altogether, sit down with a yellow legal pad. Write down the best questions you can think of. Then write down 5 or so answers to each well-worded question.n nI think you'll find that good questions, provide you with good answers. And your problems will quite literally solve themselves.n