Robert D. Ashby
President/Sr. Mortgage Planner
Solid Rock Mortgage Corporation
Guidelines, not just interest rates, are constantly changing and Realtors need to be working with professionals who are on top of the marketplace. Make sure your mortgage professional understands what drives rates and how economic data and market sentiment affect those rates. Savvy mortgage professionals are needed to ensure the best value for your clients. Mortgage planning is also growing in demand as people realize the need to integrate their mortgage into their financial and investment plans.
Carlos H. Miyares III
Sales Manager
South Bay Lending Corp.
Realtors need to know that the mortgage industry continues to have products for their buyers. They should also be aware that in today’s market only those that can really afford to purchase a home will be open to these products. The market is simply returning to the basics. If you are a high-risk buyer, then you need to apply for an FHA Loan and give the lender the extra added security that comes with a government-backed loan. If you are making a sensible purchase, the financing is available. If Realtors have a mortgage company that is willing to work with their buyers they will sell more homes.
Oscar Luna
VP of Sales
Source One Mortgage
The most important thing for Realtors to do is explain the current market conditions to clients so they understand what has happened with today’s market after the subprime crisis. There are different standards than last year, but still an educated lender can find the proper loan for most people who seek to get one.
Roy Weddle-Lima
Sr. Loan Officer
Genesys Funding
What many people in our industry don’t realize is that the financial markets, as a whole, are extremely reliant on psychology and speculation. While Fed rate cuts sound great, they have no direct effect upon conventional interest rates, but they do engage many investors in our market to revisit the overall cost of reinvesting in our market. The combination of lower interest rates and lower home prices in the year to come will bring back buyers.