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Good Morning Mortgage: August 2013

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VAR's kickoff edition of Good Morning Mortgage: Tips Today to Close Tomorrow webinar series. Featuring VAR's Stacey Ricks and Steve Farbstein of the Virginia Bankers Association Mortgage Executives Committee. Stacey and Steve discuss some timely topics from the mortgage lender perspective, including rates, tips for Realtors working with lenders, and some audience Q&A on self-employed concerns and portfolio lending.

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Good Morning Mortgage: August 2013

  1. 1. Why it’s a great time to buy (through the lens of a lender) 1. Rates are great 2. There are many products and programs available 3. Lenders have money to lend!
  2. 2. What mortgage products are available to buyers? • Low down payment products (RD, FHA) • Bond programs (VHDA) • Portfolio money
  3. 3. Rates v. Service Understanding the potential pitfalls of rate shopping • What “value” are we getting? • Apples-to-apples comparisons • Total costs
  4. 4. What’s up with mortgage rates? • Who knows? • “No expert predicted this rate increase!”
  5. 5. Smart strategies: Questions to ask when looking for a lender • Local v. online • Market knowledge • Staff experience • Previous issues (was it the loan or was it the lender?)
  6. 6. Preparing your client for the mortgage process Download VAR’s Mortgage Checklist at www.VARealtor.com/ MortgageChecklist
  7. 7. Yes, REALTORS® and lenders can work together to close the deal as quickly as possible for our mutual clients Working together to stay on a timeline
  8. 8. Do you like what you’ve heard? Then you won’t want to miss VAR’s Real Show October 4-5 in Virginia Beach. We’re partnering with the Virginia Mortgage Lenders Association to bring you two incredible lending sessions that will blow you away: • Integrated disclosure rules: RESPA/TILA are being rewritten, meaning significant changes to the closing process. • Dodd-Frank and lending: if you know what to expect, you can prepare your clients for the process. • www.RealShowVA.com

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