The concept of home is special to each of us in our own way, so shopping for a home can be emotional. Once you connect with a home that’s just right for you, emotions can run hot because that’s when you need to get the seller to accept your offer.
If you follow the news surrounding the housing market, you know that the reluctance of millennials to purchase homes has been a contributing factor for holding back economic recovery. New to the world of real estate, millennials face financial challenges that are magnified by factors such as student debt, a tough job market and a lack of credit history to qualify for loans. The vision of a dream home is often more grand than their budget reality.
For successful real estate agents, a certain portion of their referral business comes from the financial advisors with whom they have built trusted relationships. Financial professionals call on agents first when they have clients who need help with real estate, and there are three key reasons why they want agents to work with RPM:
I have said before that I believe the transition in mortgage finance will include short-term pain, mid-term adjustments, and a new era in lending. Now that the Great Recession is behind us and recovery is underway, it is time to recognize and support a very important constituency that has been left out of our economic recovery – self-employed and retired (SE&R) consumers. RPM is leading the way to a new era with our recent release of the Tailored Line of borrowing solutions. The program offers common sense loans for qualified buyers in more segments of the community. It is my sincere belief that within the next few years many other lenders will agree with RPM’s stance that SE&R communities are alive and vibrant. Serving them, as well as other uniquely qualified buyers, with secure loans, is vital to the strength of our economy and our country.
Last week RPM Mortgage, Inc. celebrated the grand opening of a new Southern California office in Glendora Village. Members of the local business community, including fellow Glendora Village business owners, referral partners, and members of the Chamber of Commerce, gathered at RPM’s new office for a baseball-themed party. Guests enjoyed a festive atmosphere complete with warm sunny weather, live music, and food from the Butcher Shop in La Verne. RPM’s neighbor on Glendora Avenue, Fiorina Clothing, treated guests to an extra 20% during the party.
Today is the day for ATR/QM and every lender’s head has been swimming with acronyms, ratios and percentages to get their people ready. To simplify matters (if that’s possible), the primary issues at hand are broken into three distinct categories:
The last five years we have been blessed with low interest rates spurred in large part by Quantitative Easing (the purchasing of US securities by the Fed in the open market). The Mortgage and Real Estate sectors as well as the American consumer have all been benefactors of this low rate environment, and played a part in contributing to the recovery in the US economy.
What do you look for in a mortgage company? Quality service? A real person to talk to? RPM Mortgage’s Loan Servicing Team is dedicated to the needs and requests of its borrowers. Since March 2010, RPM Mortgage, Inc. has reached nearly $3 billion in service retained loans. We proudly service close to half of our entire loan production including Fannie Mae, conventional, jumbo, and refinance loan products. With our recent offering of bi-weekly and semi-monthly payment options, borrowers now have the ability to choose a payment method that best serves their financial situation and real estate goals. Loan Servicing is available Monday through Friday answering phone calls and providing help with mortgage payment needs. As the year comes to an end with the goal of reaching $7 billion in total loan production, loan servicing and all of RPM’s dedicated teams are ready as always to help mortgage advisors, referral partners, and customers with a smiling face.
At RPM, we are committed to providing the best information and services to our clients. The government shutdown that began at midnight on October 1 has caused several government agencies that impact the loan process to come to a halt. As a result, some of our services have undergone temporary adjustments.