View Full Version : Purity's Loan Thread


Purity
09-02-2004, 07:31 PM
www.newcentury.com

currently 18 loans in the pipe.

wish me luck.

Purity
09-02-2004, 07:37 PM
getting some LTV issues with tyler because the property is now classified as "rural" per the appraisal. since we had to go parial doc, i had to add a 25 BPS to the initial rate, bringing the 2/28 program to a 7.65% with only $12,000 out.


****in crazy man.

Fallout
09-02-2004, 07:41 PM
If I apply for a morgage would you process the application yourself?

Purity
09-02-2004, 07:44 PM
about a month ago our marketing ****ed up and somehow sent these promos to these canads living in america but didn't have social security #s. so we tried running the canad social number (can't remember what you guys call it) but it didn't work.

so, nope. no canads.

Zen
09-02-2004, 07:46 PM
18, not bad. What's your close rate?

realkaps
09-02-2004, 07:58 PM
I want $1000.....

Purity
09-02-2004, 08:00 PM
what's a close rate?

Purity
09-02-2004, 08:00 PM
I want $1000.....

$50,000 minimum

Zen
09-02-2004, 08:26 PM
close rate= loans closed/ loans in pipeline

What percentage of those 18 loans will go to closing?

Purity
09-02-2004, 08:30 PM
oh. well statistically they say 50% but lately i've been around 75%. the longer you do this, the more you learn to avoid potential **** ups, and the less **** goes sour.

Zen
09-02-2004, 08:33 PM
Nice. Are you cold calling all day or do you do alot of local face 2 face business? I didn't mind the mortgage business but got sick of cold calling after awhile. Felt like a telemarketer.

realkaps
09-02-2004, 08:44 PM
$50,000 minimum


Where do I sign?

Purity
09-02-2004, 10:39 PM
Nice. Are you cold calling all day or do you do alot of local face 2 face business? I didn't mind the mortgage business but got sick of cold calling after awhile. Felt like a telemarketer.

i don't really cold call anymore. a good amount is referral based. i didn't mind cold calling back in the dayz either. gotta walk before you can run.