MortgageCast with Erin the Expert

In this episode, we talk with Ross Maghan, a 15-year veteran of the home & flood insurance industry, to find out how the COVID pandemic has impacted business operations, what pain points clients are experiencing and what innovations will stay with us after the pandemic subsides.

In this episode, we sit down with Vic Melillo, a Credit Scoring Expert with over 30 years of credit reporting industry experience to clear up misconceptions about forbearance and deferment of mortgage payments.

In this episode we are taking appraisal of appraisals with industry expert Mark Trimmer as he walks us through the changes that have taken place as the pandemic unfolds and he reveals the number one innovation impacting traditional appraisal systems.

Tom Carvelli has a conversation with John DeSantis from MEGA Title about how he and his company are operating title and settlement services during the pandemic crisis to ensure clients close on time while ensuring their safety.

Lately, I've seen a lot of "Pre-loan Worksheets" from other lenders and I thought it would be a good idea to address what these are and why you should demand a Loan Estimate (LE) from your loan officer. I never use pre-loan worksheets and my team and I work diligently to provide a loan estimate that is comprehensive and as accurate as possible - without underestimating the true costs. Though a loan estimate is non-binding for the client, it does set tolerance thresholds for the lender - I talk about this in detail. We also dive into the process of issuing various LEs and Closing Disclosures (CDs) throughout the process. Want to learn more? Check out my LinkedIn content page here >> https://www.linkedin.com/in/erincarvelli/detail/recent-activity/posts

In this episode, Tom and I welcome John Mauro to the show. John is the Vice President and Co-founder of Greenway Mortgage. Our conversation is an in-depth look at what happens behind the scenes and what it takes to operate a direct mortgage lender like Greenway. There are many aspects a typical client is not exposed to that makes approving, closing and funding a mortgage possible. My clients get to know my team and me best along the way but we are but a tiny cog in a very intricate framework that includes government entities, various financial institutions and a host of Greenway employees working diligently to get loans to the closing table and beyond. John, along with our President James, is at the helm overseeing the daily operations with a keen eye towards the future. There's a lot of industry terminology discussed so be sure to check the show notes at http://bit.ly/ete-jm

In this episode of MortgageCast, Erin the Expert discusses the many benefits of using a Renovation Loan to purchase a home in need of repair or to upgrade one you already own. Complete show notes at http://bit.ly/ete-reno1 Some of the talking points are: (1) Construction vs. Fix and Flip vs. Renovation (2) The Renovation Mortgage Process (3) What's a Loan Consultant? (4) What can the borrower expect? (5) What happens at and after closing? (6) What if there is no equity in the house? Can someone still finance a renovation? (7) What is required of the contractor? And more at http://bit.ly/ete-reno1

Home buying Strategies | Day 1 Certainty, Layered Risk and TBD Approvals Being a home buyer in the current market can be challenging. Luckily there we have tools, resources and strategies to be sure our clients have the best chance of securing a home and mortgage. It's been a bit since the last MortgageCast was released but Erin the Expert dives deep into the tools and strategies she uses to make sure her clients have the best shot at buying the home of their dreams. This one is a bit longer but there are many important concepts to be learned. The mortgage business is ever changing and technology is advancing rapidly so being aware of it and knowing how to leverage it is an advantage Erin and her team have over other mortgage lenders. Show notes and links at http://bit.ly/ete-d1c

The mortgage process can be daunting, especially the early stages of qualification! We ask many questions that may not seem to relate to a mortgage and request a significant amount of documentation. Guidelines have become more stringent to ensure the borrower is given a mortgage they can afford. Understanding the underwriting process can help ease stress and streamline the effort. In general, mortgage lenders like Greenway observe the 4Cs of borrower qualification – Credit, Character, Capacity and Collateral. Since every client’s financial situation and scenario varies, the 4Cs help Greenway determine if a particular borrower and property are mortgage-worthy.  Download this handy infographic at http://bit.ly/ete-4cinfo and check the show notes at http://bit.ly/ete-4c I hope you enjoy and I am always ready to answer any questions you may have.

Read the show notes here: https://smt.greenwaymortgage.com/blog/mortgagecast-e7-john-desantis-purveyor-of-good-deeds What is title insurance? Why do you need it? How do you get it? Erin the Expert welcomes her first guest to MortgageCast; long-time friend and colleague, John DeSantis Jr. John is a Licensed Title Producer since 1989 and Closer with All Ahead Title and has literally closed thousands of real estate transactions throughout the State of New Jersey in the past 30 years. We get deep into the details about title insurance and how John works closely with his clients and their agents to deliver a great experience for all involved and help put homebuyers at ease. Among other things, we talk about: *Genealogy and heir hunting *Buyer vs. Lender title policies *Easement issues and claims *The title process from beginning to end *Settlement services and his personal touch *How he works with his teams of Realtors, Lenders and Attorneys *Why the client is the MVP === CONTACT JOHN === John A. Desantis, Jr. All Ahead Title Agency 407 Pine Street, Red Bank, New Jersey 07701 ‭(908) 675-7000‬ john@allaheadtitle.com www.allaheadtitle.com === John's Bio === I hand hold clients and close real estate transactions effortlessly. I started my career in Title Insurance long before I even knew it... My mom, Liz, was a title searcher and used to bring me into the Hall of Records when I was five years old (she says it was because no one could watch me during the day but I think it was just to help her pull books..no computers back then). What she didn't know back then was that she would later become my office manager! My Uncle and mentor, Nick Beres (rest in peace Uncle Nick), was a title searcher, genealogist, title perfectionist (among many other talents) and took me under his wing when I was young. He had me coloring his many-layered Deed plottings before I hit 3rd grade. He took me all over the United States searching for heirs of New Jersey property owners to clear title. He taught me how to search titles (the right way). He served in the U.S. Navy and Merchant Marines and taught me how to run a business like a tight ship. He taught me honesty and integrity and for that, I couldn't thank him enough. I founded Meridian Title Agency Inc. in 1989 with those same values and have helped thousands and thousands of homeowners purchase and refinance their homes and businesses. It was based on strong relationships, word of mouth referrals and doing the right things the right way. Quite simply, honesty, communication and trust are the foundation of any relationship and those values will never change. I chose to give up the administrative end of the business and found a new home at All Ahead Title as they have the same values I was brought up on and have an amazing team. I am a guest lecturer at Brookdale Community College and Fairleigh Dickinson as well as lecturing for the Academy of Continuing Education for the Professions and the New Jersey Legal Training Academy and a proud member of Coastal LeTip of Colts Neck.

Many people find the mortgage process daunting and don't understand why there are so many document requests by my team along the way. In this episode, I walk listeners through from pre-approval to close, detail the documents needed and when clients can expect additional requests. You can get more information on qualification and the mortgage process by watching my other videos and blog posts. Check the show notes for links. https://smt.greenwaymortgage.com/blog/2018/09/10/mortgagecast-e6-process-and-documentation

In this episode, I talk about the components of a mortgage payment. Namely, Principal, Interest, Taxes and Insurance or PITI. It's another short one but packed with information. It can get confusing quick so I've created a handy diagram that sums it all up. Get that and lots more in the show notes. https://smt.greenwaymortgage.com/blog/2018/08/13/mortgagecast-e5-deconstructing-your-mortgage-payment-piti ©2018 E. Carvelli / Greenway Mortgage. All Rights Reserved.

Seller concessions are one of the most misunderstood mortgage topics. Today, Erin tries to shed some light on what they are, who should use them and how to negotiate one with the seller. We've linked to a short video and a blog post on this topic over at the show notes, found here https://smt.greenwaymortgage.com/blog/2018/07/10/mortgagecast-4-seller-concessions. As always be sure to reach out to Erin directly if you have additional questions about seller concessions or any other mortgage topic.

In this episode, Erin talks about homeowners insurance (HOI) and how it's integral to the mortgage process. See the show notes at https://smt.greenwaymortgage.com/blog/2018/06/23/mortgagecast-e3-homeowners-insurance

In this episode, Erin talks about pre-approvals. What they are, why you need them and what she needs to be able to provide one that is accurate. Show notes at https://smt.greenwaymortgage.com/blog/2018/06/05/mortgagecast-002-pre-approvals

This is the first episode of Erin's new informative podcast about all things mortgage. Today is an introduction to the series. Show notes here https://smt.greenwaymortgage.com/blog/2018/05/21/mortgagecast-001-an-introduction NMLS#374480