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Home | Subprime & B-Paper Loans
 

Subprime, B-Paper, "Less-Than-Perfect-Credit" And Bad Money Loans For Mortgage Borrowers

This department covers information specific to subprime, B-paper, "less-than-perfect" and bad credit mortgage loans. These are loans which are non-conforming, traditionally higher risk and outside standard federal loan guidelines of Fannie Mae or Freddie Mac. There's a reason why subprime wholesalers have a bad reputation--they don't always tell the "whole truth" or make things clear upfront to their retail brokers. Call it "selective memory", "lack of training" or what have you!  These mortgage training resources will help you manage these necessary and needed 8-legged caterpillars of the industry.

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DOWNLOAD = Credit Overdue For Subprime Mortgage Lending
DOWNLOAD = Credit Overdue For Subprime Mortgage Lending Subprime lenders haven't always gotten the "credit" that they deserve. Why is it that in the words of Rodney Dangerfield, "They get no respect."? Could it be that there's too many crooked people on the B-paper side of the industry? Perhaps. But, there's also a lot of good people and good deeds. I found this report while digging through my files here and I like it because it reminds us all why we are in this business and how important even the "bad" loans are. It's good to keep our heads on straight and read another opinion on this often beat-up segment of the market. . . . >>>> READ MORE...
DOWNLOAD = The Evolution Of The Subprime Mortgage Market
DOWNLOAD = The Evolution Of The Subprime Mortgage Market Ever wonder where the subprime market came from? It didn't always be this way. Back in the "old days" grumpy old bankers had a strict set of rules they went by before you could pry a penny from their pockets. If you didn't fit within the box, you were rejected outright...if not laughed out of the office! The emergence of "bad credit loans" or the subprime market is something of a recent phenomenon. It wasn't until the mid 1990's that the growth in this segment of the mortgage market really took off! In this 30+ page report aptly entitled "The Evolution Of The Subprime Mortgage Market" you'll learn about the fascinating history and growth of this area. Even, if you've been selling subprime mortgages but weren't exactly sure how they worked, here's your chance to learn. This report was a real eye-opener, even for me! This resource is in Adobe PDF format. . . . >>>> READ MORE...
DOWNLOAD = Borrowing Basics And A Warning On Predatory Lending, A Great Brochure To Hand All Your Borrowers
DOWNLOAD = Borrowing Basics And A Warning On Predatory Lending, A Great Brochure To Hand All Your Borrowers With the recent rise in foreclosures and grandma and grandpa calling foul, the federal government has come out with a number of brochures and items to help warn people about so-called "predatory lenders". Like anyone else, people should always read the fine print. Is it the broker's fault that the borrower simply signed onto an adjustable mortgage or another "exotic" loan product? Where is personal responsibility when it counts? . . . >>>> READ MORE...
DOWNLOAD = Losing Ground: Foreclosures In The Subprime Market And Their Cost To Homeowners
DOWNLOAD = Losing Ground: Foreclosures In The Subprime Market And Their Cost To Homeowners Ever since some of the biggest dinosaurs of the mortgage industry started going belly-up, there has been a frantic call for mortgage reform...especialy in the subprime market. Yes, we all knew it could happen someday. But, that day is today...it's now. The collapse of the subprime segment has a ripple effect that can be felt across the board. . . . >>>> READ MORE...
DOWNLOAD = The Best Value In The Subprime Market
DOWNLOAD =  The Best Value In The Subprime Market It's no secret that different states have different laws regarding mortgage activity that occurs. But, the subprime market is a whole other ballgame. Nowhere is this more apparent than with the interest caps that Big Brother State puts on its brokers. They don't want consumers to be taken advantage of and for good reason. This report gives a 50 state overview of the problem and shows the differences that exist. . . . >>>> READ MORE...
DOWNLOAD = Interagency Guidance For Small Banks On Subprime Lending
DOWNLOAD =  Interagency Guidance For Small Banks On Subprime Lending As I've been going through a lot of my research files here, I stumbled upon this interesting report. It's short and a bit dated (1999) but has some good stuff on how small local banks have usually handled the subprime customer. I include it here as reference material and another example of the government's willingness to turn a blind eye to the subprime warning shots. For what it's worth, enjoy! This resource is in Adobe PDF format. . . . >>>> READ MORE...
DOWNLOAD = A Surprising Look At The Subprime Market With Warnings That Nobody Listened To, It's How We Got Into This Mess
DOWNLOAD =  A Surprising Look At The Subprime Market With Warnings That Nobody Listened To, It's How We Got Into This Mess The rise and fall of the subprime market isn't anything new. In fact, those monkeys over at HUD predicted it and knew it was coming! Too bad they didn't warn the rest of us. This lengthy 114-page report put together by an internal HUD "task force" gives an accurate, well balanced view of the subprime mortgage market before the crash. . . . >>>> READ MORE...
DOWNLOAD = Promoting Home Ownership By Ensuring Liquity In The Subprime Mortgage Market
DOWNLOAD = Promoting Home Ownership By Ensuring Liquity In The Subprime Mortgage Market Uncle Sam is smarter than I think we give him credit for. The recent subprime mess was seen percolating years ago, and like a bad cup of coffee somebody should have put on another pot. Wake up bankers and lenders and smell the aroma! The subprime market catastrophe is the making of your own doing...you were too fast and loose at the steering wheel. If someone can't pay their bills, they certainly don't deserve the major responsibility of home ownership. Do you think people can afford to pay a mortgage when they can't even keep up with their phone bills? In this amusing and detailed treatise entitled "Promoting Home Ownership By Ensuring Liquity In The Subprime Mortgage Market" you'll be taken on a wonderful journey into the Wonka land of mortgage delusions. If you're wondering how we all got into this mess, you won't have to go too far to find the answers. They're in the burnt grounds. Enjoy! This resource is in Adobe PDF format. . . . >>>> READ MORE...
DOWNLOAD = A Dynamic Look At Subprime Loan Performance
DOWNLOAD = A Dynamic Look At Subprime Loan Performance As the subprime meltdown continues in full swing, the naysayers and past fortune tellers of gloom are about to take a bow. Yes. They were right. And we were wrong. How could we not see this coming? Maybe it was greed or just plain stupidity or both. Who knows? In this report published by the Federal Reserve Bank Of St. Louis, entitled "A Dynamic Look At Subprime Loan Performance" examines the effect and implications of deliquencies on the subprime market. Funny thing is, it was written back in 2005. This meltdown should come as no surprise. The Feds knew it would happen, but why didn't we? It's a question no one can answer. This resource is in Adobe PDF format. . . . >>>> READ MORE...
DOWNLOAD = Subprime Foreclosures: The Smoking Gun Of Predatory Lending
DOWNLOAD = Subprime Foreclosures: The Smoking Gun Of Predatory Lending Given the current climate of the market, I find it ironic that much of the subprime collapse was something that had been a public secret. This wasn't unexpected and had been seen coming for quite some time. Here is a great report passed onto me by a fellow warrior, entitled "Subprime Foreclosures: The Smoking Gun Of Predatory Lending". It's eerie and right on the mark...unfortunately! This resource is in Adobe PDF format. . . . >>>> READ MORE...
DOWNLOAD = Subprime Predatory Lending And Its Tricks Of The Trade And How To Recognize Them (Flyer Version)
DOWNLOAD = Subprime Predatory Lending And Its Tricks Of The Trade And How To Recognize Them (Flyer Version) In this lending flyer (brochure version also available), consumers are warned about the various scams, tricks and sneaky actions of predatory lenders. They aren't always easy to spot and there isn't a club out there that these banks belong to. So, consumers must do their own homework and know what to watch out for. Even at the "good" companies and big names, there are bad apple loan officers who prey on the needy and disadvantaged. Sure, they are entitled to make a fair buck too but at whose expense? This is a handy flyer to have on hand to create trust with your borrowers and warn them of the hustlers that are out there! Courtesy of the Office Of Consumer Affairs. This resource is in Adobe PDF format. . . . >>>> READ MORE...
DOWNLOAD = Subprime Predatory Lending And Its Tricks Of The Trade And How To Recognize Them (Brochure Version)
DOWNLOAD = Subprime Predatory Lending And Its Tricks Of The Trade And How To Recognize Them (Brochure Version) In this lending brochure (flyer version also available), consumers are warned about the various scams, tricks and sneaky actions of predatory lenders. They aren't always easy to spot and there isn't a club out there that these banks belong to. So, consumers must do their own homework and know what to watch out for. Even at the "good" companies and big names, there are bad apple loan officers who prey on the needy and disadvantaged. Sure, they are entitled to make a fair buck too but at whose expense? This is a handy flyer to have on hand to create trust with your borrowers and warn them of the hustlers that are out there! Courtesy of the Office Of Consumer Affairs. This resource is in Adobe PDF format. . . . >>>> READ MORE...
Can Government Solve The Foreclosure Problem?
Foreclosures are up nationwide, and will continue to rise as prices continue to go flat in many markets. For some, the problem is painful. Ask New Century Financial Corporation, the nation's second largest subprime lender, who recently filed for bankruptcy. Ask the guy down the block from you whose house is in foreclosure. . . . >>>> READ MORE...
DOWNLOAD = Subprime Market And Risk-Based Pricing
DOWNLOAD = Subprime Market And Risk-Based Pricing I've always prided myself on being up-to-date on all the latest happenings in the mortgage market. That's probably why my clients trust me over other "loan officers" out there. It's because I can speak broadly about real estate and have insights that other brokers can't offer. Here is another excellent report from HUD regarding the history of the subprime market and how it operates. Although it is a bit old, it gives a nice overview on some of the mechanics behind how things operate. For that quality alone, I felt it was worth adding to the reference library here on Battlecall. Enjoy! This resource is in Adobe PDF format. . . . >>>> READ MORE...
DOWNLOAD = Q & A On Subprime Lending
DOWNLOAD = Q & A On Subprime Lending Here's a great little guide on the in's and out's of subprime lending passed along to me by a fellow warrior. It covers why subprime loans have higher interest rates and what bad credit actually means. Also has a warning for consumers about predatory lending and what to watch out for. Brochures like these are great tools to establish trust with your clients as well as educate them on the confusing loan process. Doing so puts you at a distinct advantage over the competition because you're the one being proactive in the borrower relationship and establishing long-term trust with the prospect. This resource is in Adobe PDF format. . . . >>>> READ MORE...
DOWNLOAD = Sub-Prime Fax Blast Cover Sheet
DOWNLOAD = Sub-Prime Fax Blast Cover Sheet Need to get a sub-prime quote fast? Use this quick and easy sub-prime fax blast cover sheet to solicit feedback and a loan quote on your most difficult deals. By standardizing your loan processes, you'll be able to place and lock deals a whole lot faster. I've found that with sub-prime wholesalers their time is severely limited so anytime you can streamline things will mean a faster response time. Feel free to modify this fax blast sheet to suit your needs (could also be used as an email). This resource is in Microsoft Word format. . . . >>>> READ MORE...
DOWNLOAD = Nontraditional Mortgages: Appealing But Misunderstood
DOWNLOAD = Nontraditional Mortgages: Appealing But Misunderstood Not sure how nontraditional mortgages work? What about option ARM loans and negative amortization? Does sub-prime baffle you too? In this treatise written by the Chicago Federal Reserve Bank you'll learn in layman's terms some of the in's and out's associated with these types of mortgage loans. This was passed along to me by a fellow warrior and for what it's worth, I now I share it with you. A quick, easy and enjoyable read! This resource is in Adobe PDF format. . . . >>>> READ MORE...
DOWNLOAD = Fast Sub-Prime Borrower Worksheet
DOWNLOAD = Fast Sub-Prime Borrower Worksheet Sub-prime clients are some of the best loans to work on in any mortgage market whether it be high or low interest rates. Everybody needs a place to live and even people with "not so good credit" have to have a roof to sleep under. So there's a reason why they need you just as much as you need them. And, don't forget that with sub-prime borrowers the payout on them can be as high as 2 points on the back-end from the lender and 2 to 3 origination points upfront from the borrower paid to you...making a total average commission spread of $5,000 to $8,000 or more (depending on loan size). Not a bad chunk of change for helping get somebody out of a jam. Here is one of my most useful tools, a fast and easy sub-prime borrower worksheet. Use it to prequalify your prospects or to fax to your lender wholesalers. Either way, it'll help give you the upper hand! Enjoy! This resource is in Microsoft Word format. . . . >>>> READ MORE...
Liar, Liar, Pants On Fire..."Liar Loans" Lead To A Spike In Mortgage Foreclosures
It starts out all so innocently, the loan application (1003) is filled out while gathering the income and debts verified through credit reports and mortgage payoffs. Then the Debt To Income Ratio (DTI) is calculated dividing the debts including the new housing expense by the income and wham, it happens. . . . >>>> READ MORE...
Bad Credit Real Estate Investing: Stop Dodging The Bullet & Clean The Gun
If I had a dollar for every email I was sent, message board post I have read, or telephone call I have received asking how to invest with bad credit, I would have retired 10 years ago. If most of these individuals would learn some age old truths, it would make their investing lives so much more productive. . . . >>>> READ MORE...
Making This Bad Credit Loan The Last You'll Ever Need
If you are suffering from bad credit in any form, you probably want to do everything you can to clean things up so you can enjoy the world of good credit again. After all, in the media and from talks with the majority of mortgage brokers and big lenders, chances are you've been told that bad credit won't get you anywhere -- ever. . . . >>>> READ MORE...
Sub-Prime Mortgage Leads
If you are a loan officer or mortgage broker interested in purchasing sub prime mortgage leads, purchasing them by way of the internet may not be a bad place to start. But before you do that, find a mortgage lead provider that can deliver exactly what you are looking for, and that is sub prime leads. . . . >>>> READ MORE...
The Proposed Foreclosure Bailouts...Do We Really Write Checks To People In Distress?
You need to read this entire article...you'll be surprised at the answer! Yes...the number of foreclosure filings is significantly higher than last year. In fact, it's nearly double what it was a year ago. And, it isn't anywhere close to being over as hundreds of thousands of foreclosures have yet to be filed. . . . >>>> READ MORE...
Watch Out For Dangerous Sub-Prime Loans
One rapidly growing sector of the lending market is the so-called "subprime" market, which caters to consumers with poor credit records. The subprime market is a profitable one, as lenders offer loans to consumers whose poor payment history targets them as risky clients. . . . >>>> READ MORE...


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