As of this post, I have recruited and mentored for National Lending Corporation over 2,300 loan originators. The company run by CEO Hao Nguyen provides mortgage services across the U.S. and Puerto Rico.
Even though personally I don’t make the kind of money the company promised me… I am committed to the learning opportunity.
The real reward for me is hearing the success stories of these new members under my mentoring. I only pray that what they say about good Karma comes true and that it is only a matter of time that all that goodness will come back to me.
A new member just went through one of her first transaction, this is her version as she retold her experience as she journeyed with her client in assisting her into homeownership:
“Closed June 29, 2007
I had a client that called me all the time. I had to hold her hand throughout the whole process.
I learned a lot during this transaction. The client had good scores but not enough money, so I found a product that gave her more purchasing power and with her good rates and her Realtor getting the seller to give our client 3% seller concession, the loan was on its way to closing.
First I learned how the asset vs the liabilities need to work. At first the liabilities were more until I studied the 1003 and went back to my client to see if she had any stock, bonds, 401k, insurance with cash value or real estate, finally it paid off, she had 401K’s and Cd’s which brought her assets up higher than her liabilities and it worked.
Then I learned how to get an elevation certificate because the property was in a flood zone area.
Next I learned about Mortgage Insurance. It could make or break your deal if it’s too high. And I had to assist in my client finding hazardous insurance that would keep her note in the price range she needed to be at.
Well we thought that we were in a comfort zone but learned that the lender decided to get the appraisal review and it was too close for comfort. The house listed for $85000 but only appraise for $77.000. This was a difference of $8,000. The lenders agreed with the appraisal and this was one of the happiest days of my clients life for her not was better and her closing cost was less.
Quote from my client, “JUST LOOK AT ME, LOOK AT MY HOUSE, I LOVE IT, THANKS AUDREY QUINCY, MY LOAN OFFICER” ”
Daisy Says: The seed you plant will grow (you may just not know where or when).
