Washington Mortgage Planner-straight up mortgage advice and commentary

Good day!  As the mortgage market tightens every day, I think it's important for us think of other avenues in order to keep our business operable.  No longer is everyone a prospect and it doesn't work to justify that since the market is less busy, we can stop working as hard as we used to.  I think we as mortgage brokers must work harder than ever to source our clients.  We are now officially in the consulting business where we need to become experts on credit repair, what loan makes the most sense for our client, etc. etc.

I don't foresee much help from the Federal Reserve regarding rate relief this year.  We should instead be selling our service and delivery to our clients.  Our goal should be to build long-term relationships, not just move from one transaction to the next.  Here's a thought.  Have you considered FHA loans to help your client?  I know the paperwork can be arduous but the guidelines for lending can be as little as 3% down and they're working hard to bring it to 0.  When was the last time you networked with other businesspeople?  How much are you getting out of the office to build your professional and personal relationships?

 Eventually the market will improve and times will be robust like they were up until 2006.  But I don't foresee that happening until beyond next year.  In the meantime, it's time for us to roll up our sleeves and get to work.  I wish all of you the best of luck in your business.  Have a great day!

Paul