Hi Jaffa,

Late at night in my uni days I would watch bad late night TV like that guy who uses mneumonics… as I was poor I decided to figure it out myself rather then spend money on his videos! hee hee. My techniques are probably simpler but they work.

There IS something about pictures, WHY? Because our subconscious only works in pictures, and…[Read more]

Hi Stu,

Someone mentioned in here an article on Bank Foreclosures… Alot of my clients frown and stir when we talk about this… they seem to think the banks are big and scary and as soon as you default your house is sold (well, some lenders may do this).

I think an article revealing what courses of action the lenders actually do take before…[Read more]

Yes it’s an interesting point you make. Once you get into the mindset of running your life (not just your finances) as a business you tend to become alot more results focused. It makes a lot more sense, I thouroughly agree with your point.

Liz Wilson

Mortgage Lender

Woops [blush2]

I’ve been getting emails from my lenders saying crazy things about max insured LVR’s…

I’ll get back to you guys too (does anyone care to know?)

Yeah Rob I think they did increase them a few months back to more accurately reflect the state of the housing market in NSW (Finally!)

Liz Wilson

Mortgage Lender

Tom,

You be careful in the kitchen, didn’t you hear what happened to Jamie the Naked Chef with his todger?? [crying]

hee hee hee

Liz Wilson

Mortgage Lender

Stu,

You have a point, although I forgave my client as he was NESB and very confused about how he had a bad CRAA…

I think once you get past the lies you can move on to correcting their course of financial freedom.

Perhaps I am of too forgiving a nature…[ohno2]

Liz Wilson

Mortgage Lender

Sometimes what the lenders do is hedge the risk between both Mortgage Insurers, so $272,500 each. Let me know if you still need any help I have a lender who should be able to do this for you.

Cheers

Liz Wilson

Mortgage Lender

Oh also, what is the solicitors fee of $616? Does this relate to your conveyancer cost (which is more likely to be $800 flat at best) OR are they referring to their lenders fees and disbursements?

Further to this, what is processing outlay – I think that sounds like a broker fee. If not it should be wrapped inside the establishment fee.

This…[Read more]

Ez,

Sounds good… but 1% is alot for an application fee, so they sound like a boutique lender.

Negotiate the fee down if you can, I mean if the rate negates to the standard anyway they should charge standard application fees.

$4,000 is way too much, and smells suspicious. Do an ABN search on them to see how long they have been in business. Ask…[Read more]

Darkness,

ARGH – are you evil!? Your site has a trojan virus! DON’T GO TO THE SITE!

Moderators Delete!

Liz Wilson

Mortgage Lender

Hi Skip,

My understanding is that at settlement the title to the property is transferred to your name. Your conveyancer actually writes up the title transfer doc doesn’t he? So he should know ALL about it. (what are you paying him for hee hee)

With some banks it doesnt happen straight away, as they need to go to the Land Titles Office and get it…[Read more]

Hi Jaffasoft,

I, of all people cannot tell people to stay off the net, I’m an addict!

One really good study technique for exams was to learn how to use mnuemonics, I’m a self taught mneumonic (memory peg) fan. It’s an excellent way to study a concept just once, and never forget! I even makes studying fun as your making up stories in your head…[Read more]

Hi Oztexs,

So you are foregoing $80 to $110 per week to live where you want to… fair enough, quality of life is important.

One question though… why don’t you use the equity in either your PPOR or the IP to put down the deposit on the new PPOR that you want? Then your channelling your “rent” money to pay off the loan… Why rent now and…[Read more]

Terry, can you get direct access to Baycorp as a broker? That would be handy… I guess the alternative is to get the client to order it, it’s free if they can wait a week.

I just tell my clients that the bank does a credit check so they may as well tell me if they know of anything (not in such blunt words of course).

Even THEN I have still been…[Read more]

Brahms you darling sweet thing!

Never been lied to before by a client?

Tell the bank (a) he forgot and they will understand! In my experience they do not question your integrity, they know clients lie! Go to GE or Bluestone and good luck.

Somedays a broker should just…

a) call it a day[weird]
b) Have a brain explosion[wacko]
c) drink a whole…[Read more]

Discipline… it’s taken me many years to learn how to sit down and concentrate. Get rid of all distractions, pencil out time in your diary and just FOCUS… do NOT let yourself divert from the task at hand.

The main objective is to eventually make it a HABIT, habits die hard, so it is excellent when you create GOOD HABITS!

I have many good…[Read more]

Perhaps the mortgage insurers make more money by paying back a small refund but not having to insure that loan anymore?

There must always be a logical reason (bottom line fiscal benefit) why large companies do these things. My understanding is that they only refund within the first few years and the refund is only small in proportion to original…[Read more]

[blush2] Shucks we are loved![biggrin]

Liz Wilson

Mortgage Lender

Originally posted by Nat R:
LMI is a generic term….StGeorge have ther own insurance compnay so they charge a fee to insure interantally

Incidently, St George call their “LMI”, as you say, a “Loan Extension Fee”… Sorry Nat, it just doesn’t gel with me to use terms loosely or generically. If you were to call something LMI might you be…[Read more]

Originally posted by Nat R:
There are many differnces between a broker and an originator…but many people miss use the originator label.

Nat I think you’ll find that “mortgage originator” is the pretty word for broker. [blush2]

Liz Wilson

Mortgage Lender