Mark Tiernan

Posted on Friday, March 28, 2008 at 06:24

Mortgage Market Guide, LoanToolbox and The Duncan Group Join Forces

Holmdel, NJ (PRWEB) March 21, 2008 -- Sweeping changes in the mortgage industry have brought not only challenges but opportunities to the companies that serve loan origination professionals. Today, Mortgage Market Guide, LoanToolbox, and The Duncan Group announced a ground-breaking strategic partnership and the creation of a single umbrella organization.

While maintaining each company brand, this partnership enables the companies to share resources and expertise to provide mortgage professionals with the products and services they need to achieve success and grow their businesses.

The combined companies will leverage the talents of such industry leaders as Todd Duncan, Barry Habib, Sue Woodard, Greg Frost and Jim McMahan. Each company also brings a stable of market-proven products that help originators win new business and keep their competitive edge.

LoanToolbox's marketing resources, including its automated marketing solution, PlatinumPlus, are now joined by Mortgage Market Guide's daily market advice, alerts and Certified Scripts for Success and The Duncan Group's best of breed online training solutions, such as Mortgage Mastery University. The Duncan Group and LoanToolbox also produce two of the industry's leading conferences.

"As a team, we are committed to the success of this industry. Together, these three companies will have a powerful and lasting impact on the lives of mortgage professionals, individuals who are facing one of the toughest markets in history," remarked Barry Habib, Chairman of the newly formed umbrella company, Mortgage Success Source.

"Subscribers who have invested in each of our individual companies will see new returns as we offer additional resources and share subject matter expertise. It's like every customer's stock just went up," added CEO David Fournier.

"With over two decades of experience in teaching mortgage professionals how to sell successfully and live significantly, I can say this collaboration will enhance the lives of loan originators and managers nationwide," said Todd Duncan, President and Chief Learning Officer.

About The Mortgage Market Guide

The Mortgage Market Guide is a comprehensive series of daily market commentaries delivered to your desktop through our website (www.mortgagemarketguide.com). Market information includes rate alerts, FNMA bond charts, FNMA bond chart commentary, economic and Fed talking points, economic indicators and forecasts for the week and advice just for originators. Lock or float advice is delivered in a format that is easy to understand and convey to mortgage and real estate customers to gain the knowledge necessary to educate prospects, clients, and partners and to provide accurate and informative advice regarding mortgages.

About LoanToolbox

LoanToolbox (www.loantoolbox.com) is the leading provider of training and marketing solutions for mortgage industry professionals. Members have access to proven best practices, automated marketing and an active online community of 10,000 loan originators who share ideas on a daily basis. LoanToolbox hosts one of the industry's leading events, Business Plan, held in Las Vegas every year.

About Todd Duncan Enterprises

The Duncan Group (www.theduncangroup.com) is America's leader for inspiring, teaching, and creating mortgage professionals who sell successfully and live significantly. TDG is the company behind Sales Mastery, the most attended event in the industry, Mortgage Mastery University (www.mortgagemasteryuniversity.com), a unique training tool delivering comprehensive high-trust curriculum to mortgage professionals, and the newly formed Mortgage Insighter, a news-driven networking and knowledge-sharing site designed for today's committed mortgage professional. (www.mortgageinsighter.com).

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Mark Tiernan, How To Compare Mortgage Quotes

Posted on Tuesday, December 4, 2007 at 04:40

Mark Tiernan, How To Compare Mortgage Quotes
So you're interested in buying a house and you're looking at home mortgages online. Whether you've decided on a fixed rate mortgage, an adjustable rate mortgage or any of the other various types of mortgages offered, there are several things to be sure to look at when comparing the offers.

The first, and most obvious, is the interest rate. Since for the first few years your payment will be mostly interest with little going towards equity, your interest rate is very important. A slight difference in interest rate can make a big difference in your monthly payment. And the larger your loan balance, the larger this difference will be. While 1/8 of one percent might not affect your payment by a huge amount, 1/2 of one percent certainly will. And if your finances are tight, then every dollar will count. One way lenders lower rates is by charging you "points" which is simply money paid upfront in order to get a slightly lower rate. Make sure you are aware of any fees you are being charged as you may have to pay a lot more to get the loan from one lender than from another.

Another thing to look at is the APR. You see it all the time ... but what does it really mean to you? The Annual Percentage Rate is actually the cost of interest plus any other fees being charged by the lender over the life of the loan. The APR will always be higher than the interest rate. By comparing the interest rate and APR of one lender to the interest rate and APR of another lender, you will get an idea of who is charging more fees. For example, if one lender offers an interest rate of 6.35% with an APR of 6.54% and another lender offers an interest rate of 6.25% with an APR of 6.97%, the second one is charging more fees ... and will ultimately cost you more. Ask the lenders what fees are included in your quotes for home mortgages online so you can compare apples to apples.

Some other items to compare would be -

1. The lock-in terms (is it for the same amount of time, what if interest rates go down, etc.)

2. Is there a pre-payment penalty (many loans do not have pre-payment penalties and even if yours does, it may or may not be an issue, depending on the conditions)

3. What are the closing costs and fees (this money will need to be paid upfront or financed in the loan which will then affect your payment somewhat)

4. Ask for a Good Faith Estimate (compare the GFE from each lender and be sure that everything is as you understood it to be)

Customer service is extremely important. If you have questions when making your comparisons, call them and see how timely and informative your conversations are. If you have trouble getting answers before you start your loan, you're likely to have trouble during your loan process also. You want a lender who is quick to return your calls and responsive to your questions.

Searching for home mortgages online simplifies this process as you can submit your information one time and get quotes from several lenders at once. Then you can do your comparisons and make your decision after looking at the offers from all angles.

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