Here is an interesting story!
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
Tuesday, December 6, 2011
Tuesday, November 15, 2011
CORRECTEd ADDRESS FOR BUSINESS PLAN
The corrected business plan address is www.wusacoach.com and not the one in the article below that refers to it.
Bob
Thanks to Lynn!
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
Fw: WEBINARS-SALES MEETINGS-CASH EM & ISSUES
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
----- Original Message -----
From: Bob Stephens
To: AAAABOB STEPHENS
Sent: Tuesday, November 15, 2011 6:51 AM
Subject: Fw: WEBINARS-SALES MEETINGS-CASH EM & ISSUES
These recent issues have come up that I need to address!
The webinars are great for info which I use in the sales meetings. However, when I speak at SM, we have inter action and the webinar info turns into a very different presentation. The webinar is just me and Daniel talking to an unknown audience, if any. We are never sure. So that is why the sales meetings are different and we get to hear your voice and thoughts, which I appreciate. Group dynamics are always preferred.
EARNEST MONEY must never be cash. The title companies won't accept it and neither will we. So, if you take cash as EM, then I have a problem with that and need to ask you some questions, so expect to be interviewed regarding this issue. Conclusion? Always get cashiered funds or personal checks for EM.
Now then, for anyone in property management OR you are finding a home for a rental client, be very careful when the prospective tenant is declined pursuant to their application.
A case in point is a prospective tenant that was turned down and she asked why? So the prop. mgr. explained in detail WHY.
Never do this! Give the prospect a declination letter that will explain that information from a credit report, prior landlord, police report etc., has caused the declination of their application as a tenant. You are never involved in any explanations after you have submitted the decline letter.
Our A forms has one on www.mywestusa.com and is A-116.
AND--If you need to figure your business plan for 2012, find it at a new address www.westusacoach.com
Also, a new service from AMERICAN TITLE--Just call your local rep. and get your short sale program started and they will do it for you! Just take the listing and turn it over to them while you find a buyer!
We are excited to welcome the ASSIST Short Sale Transaction Management Team!
One of the first teams of their kind in the valley, they already have years of experience handling Short Sales - and SHORT SALES are ALL THEY DO!
Let their expertise save you the time and paperwork normally involved in Short
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
Wednesday, November 2, 2011
MISSING ATTACHMENT
Here is the attachment to my article--just add it on.
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
Fw: MY THOUGHTS AND ATTACHED VIEWS OF OTHERS
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
----- Original Message -----
From: Bob Stephens
To: AAAABOB STEPHENS
Sent: Monday, October 31, 2011 7:00 AM
Subject: Fw: MY THOUGHTS AND ATTACHED VIEWS OF OTHERS
Most folks that receive email, read the subject line and delete if they don't get the whole message there. This is one that you need to read and perhaps gain some views you did not have before.
I know that folks need to make their own decisions and most of the time, advice is unwelcome.
No one can tell someone that they need to quit smoking or lose weight or quit drinking or work harder to have a great family life or many of the myriad of things that others decide to tell you that you need to do.
Another one is changing your association with a company, especially when YOU are the architect of what happens to you in real estate.
Agents have left seeking greener pastures or whatever but a great many of them return. They have found out that the real estate market is the same at another brokerage and nothing changes.
The answer lies within themselves and the decision to change their own outlook to the changing markets and the necessary adjustments. It takes commitment and will to learn and adjust.
A business plan for 2012 would be a great start--just go to
www.arizonarealestatesuccess.com from Lynn Sperry
and fill in the blanks. Takes about 3 minutes and you get a 1 year plan. Then go to GOOGLE and click on "calendar" to make time for the plan. It syncs with your smart phone.
The next step is to do something REMARKABLE! For instance, buy the book "GAME PLAN" How real estate professionals can thrive in an uncertain future by Ian Morris and Steve Murray. AND, of course my favorite books on marketing, Dig Your Well Before You're Thirsty by Harvey Mackay AND Purple Cow by Seth Godin.
All of these are available on Amazon.com
With all of this in mind, you can launch a very succesful campaign to be "REMARKABLE".
I have attached a Realty Times article that makes a lot of sense!
Read my email signature and go with it.
Bob
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
LISTEN-LEARN-PROSPER
Sunday, October 30, 2011
Fw: DIVERSITY WITH REAL ESTATE
----- Original Message -----
From: Bob Stephens
Sent: Saturday, August 20, 2011 5:18 PM
Subject: DIVERSITY WITH REAL ESTATE
I have long been interested in diversity in our real estate industry. I started getting indoctrinated into this facet when I was on a committee for fair housing over 30 years ago at the Phoenix Association. I found that clients present issues for agents that may require special training for an agent to have a better understanding of all issues on diversity. Tina Robbins was the very excellent chairperson at that time at PAR. Many years later around 2008, I attended a class taught by Tina and as always, it was an "eye-opener".
It was about 10 years ago that I obtained the "At Home With Diversity" designation from NAR in a 6 hour, in person class, which I later renewed 2 years later online. This was the most amazing class I ever attended and it makes a real believer out of attendees.
I recommend it for everyone and you will definitely become a much more versatile and accomplished REALTOR.
I have asked for stories from foreign born agents that they would allow me to publish. I am interested in how they got here and why they chose real estate as a profession. The discussions were very revealing and interesting which some of them shared with me.
Here is a really nice story about Claudia Morgado from Chile, now working in our Mesa office. She wrote it and I edited it very slightly.
I urge you to get to know all of our people on a personal basis, whether foreign or not. Last Friday I was talking to 2 ladies at the same time--1 from the Philippines and another from Sri Lanka. We have much representation from around the world at West USA and welcome all those who would join us.
If you have a story to share, please put it into writing for me and in fact, I will help you with it. Call me or email me bob@westusa.com
or 602-942-4200
Claudia's story is attached and is just 1 page but very enlightening!
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
Thursday, October 27, 2011
Build a Real Business With Your Fan Page
How to Generate $136 per Facebook Fan on Your Custom Fan Page
What's Really Wrong with
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FREE 3-Part Video Series Reveals
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How to Generate $136 per Facebook Fan on Your Custom Fan Page
What's Really Wrong with
Facebook Marketing?
FREE 3-Part Video Series Reveals
Why Fan Pages Suck and What to do About It.
Here is what we'll unveil in our free video series:
Video 1
The $136 Facebook Fan System
Video 2
The New Tool Behind It All
Video 3
A Proven Fan Page Business Model
Get your Videos. Free.
Register below to receive immediate access to Video #1 and be notified when Video #2 and Video #3 are available.
Wednesday, August 31, 2011
Foreclosed Home Owners Take Out Revenge on Properties
Some foreclosed home owners are taking out their anger on the homes they are forced to leave behind, smashing holes in the walls, scribbling graffiti everywhere, leaving piles of trash, and ripping out appliances.
More banks -- facing a growing problem from trashed foreclosures -- are opting to offer homes at big discounts rather than fix the repairs, which can send surrounding home values in the neighborhood spiraling down, experts say.
Real estate pro Nick Davis with RE/MAX Premier Group told the Tampa Tribune that he has seen some home values greatly diminish from foreclosed home owners who have trashed it. For example, he recalls one home that would have fetched $250,000 back in 2006 during the housing boom that would now sell for about $75,000 because it was trashed by the former owners.
"It looks like someone took revenge," Davis says about the home, which had holes in the wall, appliances ripped out, and piles of trash. "Unfortunately, we're seeing more of this. We've seen cement in the plumbing systems, the air conditioners ripped out from the outside, wiring being removed."
Some real estate professionals and lenders are even blaming the high number of real estate deals falling apart due to more homes being left in poor condition by the original owners.
Buyers "look at these homes and say, 'If this is the damage I can see, what else did the home owner do to this place that I can't see?' " Davis says.
Some home owners facing foreclosure place the blame on banks for their woes so they leave behind a mess for the bank. But trashing a home can backfire. Some banks are saying they may even start taking steps to sue home owners for the cost of repairs, and law enforcement officials say home owners can be charged with vandalism as well as theft if they remove items that don’t belong to them from the home.
"Anything that came with the house needs to stay with the house," says Larry McKinnon, spokesman for the Hillsborough County Sheriff's Office in Florida. "You may think you're getting back at the bank. But the bank may have the last laugh."
Source: “Trashing Foreclosure Homes May be on the Rise,” Tampa Tribune (Aug. 30, 2011)
Read More
Some Foreclosures Showcase Big, Bad, Ugly
Saturday, July 23, 2011
Fw: BEN STEINS FINAL COLUMN
This was sent to me by Sally Barney-Gooby of the Scottsdale office.
A former school teacher and she always has something worthwhile! Thanks Sally!
----- Original Message -----
From: Bob Stephens
To: AAAABOB STEPHENS
Sent: Saturday, July 09, 2011 7:24 AM
Subject: BEN STEINS FINAL COLUMN
Ben Stein's final column --
For many years Ben Stein has written a biweekly column called
''Monday Night At Morton's.'' (Morton's is a famous chain of Steakhouses known to be frequented by movie stars and famous people from around the globe.) Now, Ben is terminating the column to move on to other things in his life. Reading his final column is worth a few minutes of your time.
Ben Stein's Last Column...
How Can Someone Who Lives in Insane Luxury Be a Star in Today's World?
As I begin to write this, I 'slug' it, as we writers say, which means I put a heading on top of the document to identify it. This heading is 'eonline FINAL,' and it gives me a shiver to write it. I have been doing this column for so long that I cannot even recall when I started. I loved writing this column so much for so long I came to believe it would never end.
It worked well for a long time, but gradually, my changing as a person and the world's change have overtaken it. On a small scale, Morton's, while better than ever, no longer attracts as many stars as it used to. It still brings in the rich people in droves and definitely some stars. I saw Samuel L. Jackson there a few days ago, and we had a nice visit, and right before that, I saw and had a splendid talk with Warren Beatty in an elevator, in which we agreed that Splendor in the Grass was a super movie. But Morton's is not the star galaxy it once was, though it probably will be again.
Beyond that, a bigger change has happened..? I no longer think Hollywood stars are terribly important. They are uniformly pleasant, friendly people, and they treat me better than I deserve to be treated. But a man or woman who makes a huge wage for memorizing lines and reciting them in front of a camera is no longer my idea of a shining star we should all look up to.
How can a man or woman who makes an eight-figure wage and lives in insane luxury really be a star in today's world, if by a 'star' we mean someone bright and powerful and attractive as a role model? Real stars are not riding around in the backs of limousines or in Porsches or getting trained in yoga or Pilates and eating only raw fruit while they have Vietnamese girls do their nails.
They can be interesting, nice people, but they are not heroes to me any longer. A real star is the soldier of the 4th Infantry Division who poked his head into a hole on a farm near Tikrit , Iraq . He could have been met by a bomb or a hail of AK-47 bullets. Instead, he faced an abject Saddam Hussein and the gratitude of all of the decent people of the world.
A real star is the U.S. soldier who was sent to disarm a bomb next to a road north of Baghdad . He approached it, and the bomb went off and killed him.
A real star, the kind who haunts my memory night and day, is the U.S. soldier in Baghdad who saw a little girl playing with a piece of unexploded ordnance on a street near where he was guarding a station. He pushed her aside and threw himself on it just as it exploded. He left a family desolate in California and a little girl alive in Baghdad ..
The stars who deserve media attention are not the ones who have lavish weddings on TV but the ones who patrol the streets of Mosul even after two of their buddies were murdered and their bodies battered and stripped for the sin of trying to protect Iraqis from terrorists.
We put couples with incomes of $100 million a year on the covers of our magazines. The noncoms and officers who barely scrape by on military pay but stand on guard in Afghanistan and Iraq and on ships and in submarines and near the Arctic Circle are anonymous as they live and die.
I am no longer comfortable being a part of the system that has such poor values, and I do not want to perpetuate those values by pretending that who is eating at Morton's is a big subject.
There are plenty of other stars in the American firmament...the policemen and women who go off on patrol in South Central and have no idea if they will return alive; the orderlies and paramedics who bring in people who have been in terrible accidents and prepare them for surgery; the teachers and nurses who throw their whole spirits into caring for autistic children; the kind men and women who work in hospices and in cancer wards.
Think of each and every fireman who was running up the stairs at the World Trade Center as the towers began to collapse. Now you have my idea of a real hero.
I came to realize that life lived to help others is the only one that matters. This is my highest and best use as a human. I can put it another way. Years ago, I realized I could never be as great an actor as Olivier or as good a comic as Steve Martin or Martin Mull or Fred Willard--or as good an economist as Samuelson or Friedman or as good a writer as Fitzgerald. Or even remotely close to any of them.
But, I could be a devoted father to my son, husband to my wife and, above all, a good son to the parents who had done so much for me. This came to be my main task in life. I did it moderately well with my son, pretty well with my wife and well indeed with my parents (with my sister's help). I cared for and paid attention to them in their declining years. I stayed with my father as he got sick, went into extremis and then into a coma and then entered immortality with my sister and me reading him the Psalms.
This was the only point at which my life touched the lives of the soldiers in Iraq or the firefighters in New York ... I came to realize that life lived to help others is the only one that matters and that it is my duty, in return for the lavish life God has devolved upon me, to help others He has placed in my path. This is my highest and best use as a human.
Faith is not believing that God can. It is knowing that God will.
By Ben Stein
BEGIN--THE REST IS EASY
For many years Ben Stein has written a biweekly column called
''Monday Night At Morton's.'' (Morton's is a famous chain of Steakhouses known to be frequented by movie stars and famous people from around the globe.) Now, Ben is terminating the column to move on to other things in his life. Reading his final column is worth a few minutes of your time.
Ben Stein's Last Column...
How Can Someone Who Lives in Insane Luxury Be a Star in Today's World?
As I begin to write this, I 'slug' it, as we writers say, which means I put a heading on top of the document to identify it. This heading is 'eonline FINAL,' and it gives me a shiver to write it. I have been doing this column for so long that I cannot even recall when I started. I loved writing this column so much for so long I came to believe it would never end.
It worked well for a long time, but gradually, my changing as a person and the world's change have overtaken it. On a small scale, Morton's, while better than ever, no longer attracts as many stars as it used to. It still brings in the rich people in droves and definitely some stars. I saw Samuel L. Jackson there a few days ago, and we had a nice visit, and right before that, I saw and had a splendid talk with Warren Beatty in an elevator, in which we agreed that Splendor in the Grass was a super movie. But Morton's is not the star galaxy it once was, though it probably will be again.
Beyond that, a bigger change has happened..? I no longer think Hollywood stars are terribly important. They are uniformly pleasant, friendly people, and they treat me better than I deserve to be treated. But a man or woman who makes a huge wage for memorizing lines and reciting them in front of a camera is no longer my idea of a shining star we should all look up to.
How can a man or woman who makes an eight-figure wage and lives in insane luxury really be a star in today's world, if by a 'star' we mean someone bright and powerful and attractive as a role model? Real stars are not riding around in the backs of limousines or in Porsches or getting trained in yoga or Pilates and eating only raw fruit while they have Vietnamese girls do their nails.
They can be interesting, nice people, but they are not heroes to me any longer. A real star is the soldier of the 4th Infantry Division who poked his head into a hole on a farm near Tikrit , Iraq . He could have been met by a bomb or a hail of AK-47 bullets. Instead, he faced an abject Saddam Hussein and the gratitude of all of the decent people of the world.
A real star is the U.S. soldier who was sent to disarm a bomb next to a road north of Baghdad . He approached it, and the bomb went off and killed him.
A real star, the kind who haunts my memory night and day, is the U.S. soldier in Baghdad who saw a little girl playing with a piece of unexploded ordnance on a street near where he was guarding a station. He pushed her aside and threw himself on it just as it exploded. He left a family desolate in California and a little girl alive in Baghdad ..
The stars who deserve media attention are not the ones who have lavish weddings on TV but the ones who patrol the streets of Mosul even after two of their buddies were murdered and their bodies battered and stripped for the sin of trying to protect Iraqis from terrorists.
We put couples with incomes of $100 million a year on the covers of our magazines. The noncoms and officers who barely scrape by on military pay but stand on guard in Afghanistan and Iraq and on ships and in submarines and near the Arctic Circle are anonymous as they live and die.
I am no longer comfortable being a part of the system that has such poor values, and I do not want to perpetuate those values by pretending that who is eating at Morton's is a big subject.
There are plenty of other stars in the American firmament...the policemen and women who go off on patrol in South Central and have no idea if they will return alive; the orderlies and paramedics who bring in people who have been in terrible accidents and prepare them for surgery; the teachers and nurses who throw their whole spirits into caring for autistic children; the kind men and women who work in hospices and in cancer wards.
Think of each and every fireman who was running up the stairs at the World Trade Center as the towers began to collapse. Now you have my idea of a real hero.
I came to realize that life lived to help others is the only one that matters. This is my highest and best use as a human. I can put it another way. Years ago, I realized I could never be as great an actor as Olivier or as good a comic as Steve Martin or Martin Mull or Fred Willard--or as good an economist as Samuelson or Friedman or as good a writer as Fitzgerald. Or even remotely close to any of them.
But, I could be a devoted father to my son, husband to my wife and, above all, a good son to the parents who had done so much for me. This came to be my main task in life. I did it moderately well with my son, pretty well with my wife and well indeed with my parents (with my sister's help). I cared for and paid attention to them in their declining years. I stayed with my father as he got sick, went into extremis and then into a coma and then entered immortality with my sister and me reading him the Psalms.
This was the only point at which my life touched the lives of the soldiers in Iraq or the firefighters in New York ... I came to realize that life lived to help others is the only one that matters and that it is my duty, in return for the lavish life God has devolved upon me, to help others He has placed in my path. This is my highest and best use as a human.
Faith is not believing that God can. It is knowing that God will.
By Ben Stein
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
Friday, July 8, 2011
New Campaign Jul 8, 2011 at 9:26 AM This is a test for Bob Stephens new e-mail to everyone at West USA Realty
Untitled document
Attachments:
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Attachments:
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This email was sent by Begin the Rest is Easy, 44177 W Canyon Creek Dr, Maricopa, Az 85139, using Express Email Marketing. You were added to this list as info22311.westusaagents@blogger.com on 7/8/2011.
Express Email Marketing supports permission-based email marketing. You can change your preferences (http://app.expressemailmarketing.com/survey.aspx?id=108609&sid=207199745&campaignId=805843&SFID=108366) or unsubscribe (http://app.expressemailmarketing.com/unsubscribe.aspx?id=108609&sid=207199745&campaignId=805843) from this mailing list at any time.
Friday, May 27, 2011
Freddie Mac Announces Summer Incentive for Agents
Freddie Mac Announces Summer Incentive for Agents
On May 16, 2011, Freddie Mac announced a bonus incentive in connection with the sale of Freddie Mac-owned properties listed on the company's REO website, www.HomeSteps.com, for selling agents who submit initial offers between May 16, 2011 and July 31, 2011, and close escrow on or before September 30, 2011. The $1,200 bonus incentive will be paid to selling agents representing qualified owner-occupants homebuyers who close by the deadline. No incentives will be given for investor purchases. Freddie Mac HomeSteps properties are owned by Freddie Mac and include a wide selection of homes, including single-family homes, condominiums, and town houses.
Freddie Mac HomeSteps Incentive
Jeff Lischer 202-383-1117, Tony Hutchinson 202-383-1120, Charles Dawson 202-383-7522
On May 16, 2011, Freddie Mac announced a bonus incentive in connection with the sale of Freddie Mac-owned properties listed on the company's REO website, www.HomeSteps.com, for selling agents who submit initial offers between May 16, 2011 and July 31, 2011, and close escrow on or before September 30, 2011. The $1,200 bonus incentive will be paid to selling agents representing qualified owner-occupants homebuyers who close by the deadline. No incentives will be given for investor purchases. Freddie Mac HomeSteps properties are owned by Freddie Mac and include a wide selection of homes, including single-family homes, condominiums, and town houses.
Freddie Mac HomeSteps Incentive
Jeff Lischer 202-383-1117, Tony Hutchinson 202-383-1120, Charles Dawson 202-383-7522
Tuesday, May 24, 2011
Fw: POOL SAFELY CAMPAIGN JUNE 15--10 AM
----- Original Message -----
From: Bob Stephens
To: AAAABOB STEPHENS
Sent: Tuesday, May 24, 2011 7:02 AM
Subject: POOL SAFELY CAMPAIGN JUNE 15--10 AM
----- Original Message -----
From: Bob Stephens
To: AAAABOB STEPHENS
Sent: Tuesday, May 24, 2011 6:54 AM
Good morning--I want to get you up and going on the Pool Safely gig we are having at our Corp. Office June 15, 2011 at 10 AM.
Rick Pectol does just that for you in his message sent to me for distribution. (This was sent to me last Sunday)
Read his message and then use the web sites that he has keyed in for you.
The last one--azce classes is very good for you if you need a class for hours.
AND please RIZVIP (RSVP) for this great kickoff for WUSA with DAVE MUNSEY of CHANNEL 10 WEATHER. Here's the address TStall@ATSAAZ.com This is Teresa Stall of the American Title main office in Arrowhead. This event will fill up fast!!!!
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
----- Original Message -----
From: Rick Pectol
Sent: Sunday, May 22, 2011 3:53 PM
Subject: Webinar Tomorrow
Hi Bob
Not sure if you have the ability to put any information out during the webinar but if so then I think the 3 following websites would be helpful to go along with what I am presenting:
I will be mentioning the Kickoff we are having on June 15th and encouraging agents to attend and get involved in the campaign in their own business. I will also be showing that I am "practicing what I preach" with my own involvement in the campaign. I now have links to pages on both of my websites mentioned above where people can go and print a "Water Safety Kit" incuding a "Water Watcher Badge" as well as Safety Tips.
Also included on these same pages is info on how the agents can get their own campaigns going – I have tried to pull out the pertinent information from the poolsafely website and condense it into what they will need. You might want to check it out – it's still a work in progress so would welcome any ideas/input you have but at least for now it's enough to give the agents a good example of how they can reference the campaign on their own websites and in their marketing.
Let me know if there's any other areas you want me to touch on tomorrow,
Thanks for the opportunity!!!
Rick Pectol - Southwest Insurance Brokers, LLC
(602)228-7308 Cell/Text
(602)263-0777 Office
(602)277-0737 Fax
www.QuoteMeRick.com
http://www.linkedin.com/in/ricknpaula
Office Address:
WE LOVE REFERRALS!!!
Thursday, May 12, 2011
Fw: OPEN HOUSE WEEK-END
----- Original Message -----
From: Bob Stephens
To: AAAABOB STEPHENS
Sent: Thursday, May 12, 2011 5:54 AM
Subject: OPEN HOUSE WEEK-END
Here is a great opportunity for an OPEN HOUSE advertised nationally by NAR.
Open the attachment for the announcement by NAR.
Prospective buyers will be looking for open houses on that week-end and you can take advantage of the nation wide campaign by NAR.
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
Friday, April 29, 2011
Banks Rush to Revamp Foreclosure Rules
Daily Real Estate News | April 29, 2011 | 
Share
Banks Rush to Revamp Foreclosure Rules ShareThe rush is on for banks to meet a mid-June deadline in offering up plans on how they plan to meet a set of guidelines by U.S. regulators to clean up their foreclosure procedures. The banks will have another 60 days after that deadline to implement the changes.
As part of the rules set by U.S. regulators, 14 financial institutions will be required to provide a single point of contact to borrowers trying to modify a loan or in the foreclosure process as well as set “appropriate deadlines” for deciding whether borrowers can get a loan workout. Regulators are also requiring banks to ensure their staffing levels are on par to handle the flood of foreclosures and loan modifications.
Several banks have already taken steps to implement the changes.
For example, J.P. Morgan says it’s developing a software program to make it easier for employees and borrowers to track loan modification requests. It also has started providing borrowers with a “relationship manager” to help navigate the loan modification or foreclosure process.
Citigroup, which already provides a single point of contact, says in the next few months it'll debut a “concierge" system that will provide a small team of employees to guide delinquent borrowers and home owners at risk of default.
Banks are also making efforts to speed up their loan modifications, after customers have complained of long delays from banks in responding to requests. For example, Los Angeles Neighborhood Housing Services says it takes an average of 141 days for its borrowers to get an answer on an initial loan modification request. Wells Fargo was found to have the fastest turnaround: Initial reviews averaged 79 days. But the bank says now 60 percent of its borrowers receive a decision five days after the company receives the request.
Banks are also increasing their staffing. J.P. Morgan has announced it’ll add up to 3,000 new home-lending jobs, and Bank of America plans to hire about 3,000 employees to focus on its troubled mortgages.
New Incentives From Fannie, Freddie
Banks and mortgage servicers also must meet new guidelines from Fannie Mae and Freddie Mac, announced this week, that aim for more loan modifications and prevent foreclosures from taking too long.
Mortgage servicers will be required to approach borrowers earlier, making contact frequently after just one missed payment.
The GSEs are also offering incentives: They’ll pay $1,600 in incentives depending on how quickly servicers complete a loan workout. They also will impose a $500 compensatory fee on servicers who do not complete loan modification applications within six months after the loan goes delinquent. The changes will go into effect in the second quarter.
Source: “Banks Rush to Improve Foreclosure Practices,” The Wall Street Journal (April 29, 2011)
Tuesday, March 22, 2011
Fw: Relationship Management: 7 Ways to Keep In Touch With Past Clients
This is a must read!!!!
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
----- Original Message -----
Sent: Tuesday, March 22, 2011 5:54 PM
Subject: Relationship Management: 7 Ways to Keep In Touch With Past Clients
This article from REALTOR Magazine Online was sent to you by:
bob, bob@westusa.com
Relationship Management: 7 Ways to Keep In Touch With Past Clients
http://www.realtor.org/wps/wcm/connect/rmo-content/rmo/RMOsales_and_marketing/Articles/2011/1102_relationshipmanagement_pastclients
Message from sender:
***********************************************************************
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Friday, February 18, 2011
FHA Takes Steps to Bolster Capital Reserves
RISMEDIA, February 17, 2011—As part of ongoing efforts to strengthen the Federal Housing Administration’s (FHA) capital reserves, FHA Commissioner David H. Stevens announced a new premium structure for FHA-insured mortgage loans increasing its annual mortgage insurance premium (MIP) by a quarter of a percentage point (.25) on all 30- and 15-year loans. The upfront MIP will remain unchanged at 1.0%. This premium change was detailed in President Obama’s fiscal year 2012 budget, and will impact new loans insured by FHA on or after April 18, 2011.
“After careful consideration and analysis, we determined it was necessary to increase the annual mortgage insurance premium at this time in order to bolster the FHA’s capital reserves and help private capital return to the housing market,” said Stevens. “This quarter point increase in the annual MIP is a responsible step towards meeting the Congressionally mandated two percent reserve threshold, while allowing FHA to remain the most cost effective mortgage insurance option for borrowers with lower incomes and lower down payments.”
The proposed change was announced last week as part of the Obama Administration’s report to Congress, which outlined the Administration’s plan to reform the nation’s housing finance system. The Administration’s housing finance plan also recommended that Congress allow the present increase in FHA conforming loan limits to expire as scheduled on October 1, 2011.
This premium change enables FHA to increase revenues at a time that is critical to the ongoing stability of its Mutual Mortgage Insurance (MMI) fund, which had capital reserves of approximately $3.6 billion at the end of FY 2010. The change is estimated to contribute nearly $3 billion annually to the Fund, based on current volume projections. It is vital that HUD take action to ensure that FHA will continue to serve its dual mission of providing affordable homeownership options to underserved American families and first-time home buyers while helping to stabilize the housing market during these tough times.
On average, new FHA borrowers will pay approximately $30 more per month. This marginal increase is affordable for almost all home buyers who would qualify for a new loan. Existing and HECM loans insured by FHA are not impacted by the pricing change.
FHA will continue to play an important role in the nation’s mortgage market in 2011. President Obama’s FY 2012 budget projects the FHA will insure $218 billion in mortgage borrowing in 2012. These guarantees will support new home purchases and re-financed mortgages that significantly reduce borrower payments.
For more information, visit www.hud.gov.
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Tuesday, February 8, 2011
Fw: SHORT SALE NEGOTIATOR REGULATIONS
----- Original Message -----
From: Bob Stephens
To: AAAABob Stephens
Sent: Tuesday, February 08, 2011 7:08 AM
Subject: SHORT SALE NEGOTIATOR REGULATIONS
I want to reach all agents with the attached message which is effective March 1, 2011.
DO NOT try to circumvent the commissioners order--This is an issue that is being followed closely by the FBI, according to your Designated Broker, Dale Hillard's info.
Thank you for your cooperation!
BEGIN--THE REST IS EASY
Bob Stephens CRB e-PRO
Managing Broker
West USA Realty
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