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Tuesday, December 20, 2016

Choosing the Right Mortgage Lender for You


People often ask us what makes Finance of America Mortgage different from the other lenders out there. One key difference is our decentralized operations.

What does that mean exactly? The entire loan process happens within our team right here in Boca Raton, starting with the loan officer that clients work with, our loan processors, underwriters, and even the closers that send the important documents to closing.

The entire loan process happens within our team.

This allows us to deliver on our 7/24 promise, exceeding industry averages for commitment timeframes and closing timeframes. When a transaction comes into our building, we're all committed to meeting that date, and we control the priority of the loan’s review.

Communication is extremely important to us. We understand that we have to be here when you need us. How in the world could we serve the real estate community working banker's hours? Our team is accessible from 8 a.m. to 9 p.m. seven days a week. 

If you have any questions about choosing the best lender for you, feel free to give us a call or send us an email. We'd love to hear from you.


**The opinion shared in this post are the opinion of Matt Weaver only and do not reflect the opinion of Finance of America Mortgage, its parent company, or affiliates.**

Tuesday, November 15, 2016

Rates Move Up...Bigly!

Mortgage rates have risen since the election, but will they continue to rise? Here are my predictions.


Mortgage rates are moving up ‘bigly.’ This is not a real word, but it in light of this election, I figured I would use it to describe mortgage volatility immediately following the election.

Right after the election, mortgage rates rose well over a quarter of a percentage point in just two to three business days. This is volatility.

The question is, why? The answer is that investors fled the bond market, which, in turn, increased interest rates and poured money into the stock market. Stocks soared, particularly bank stocks.

Why did bank stocks do so well? Part of President-elect Trump’s plan is to dismantle the Dodd-Frank bill. This bill has put many regulations on large banks. The big banks stand to benefit from repealing this bill.

So, are mortgage rates on the rise for good? This is something we have to pay particular attention to. I happen to believe that this could be a potential knee-jerk reaction. I also feel that in the short term, we may see interest rates rescind back to their pre-election rate environment.

Even a small rise in interest rates can reduce buying power.

However, let us not forget how quickly interest rates can change. For this reason, we must keep our buyers and sellers informed, let them know that rates are at an all-time low, and that now is the time to take advantage of those interest rates. Even a quarter or half-percent rise in interest rates can reduce buying power sometimes even up to $30,000. It is imperative that we keep this motivation alive.

If you have any other questions about where interest rates are heading or anything else related to the mortgage world, give me a call or send me an email. I’d be happy to help you!

**The opinion shared in this post are the opinion of Matt Weaver only and do not reflect the opinion of Finance of America Mortgage, its parent company, or affiliates.**

Thursday, October 20, 2016

Thank You for Joining Us at Mike Ferry’s Superstar Retreat


At our recent Superstar Retreat, we were delighted to have so many current and prospective clients in attendance. We touched on some valuable information there that we would like to reiterate today.


I hope you found the recent Mike Ferry Superstar Retreat productive, because I certainly did. It was exciting to see so many agents there that are current clients of ours. Thank you all for your business. It was also very exciting to meet even more agents we have yet to do business with. We would love the opportunity to add value to your business.

At the retreat, I spoke on stage with Mike and shared three industry figures with everyone. The first figure I shared, $1.3 trillion, was the amount of real estate sales volume that had closed nationally in the last 12 months. That means there were 5.3 million closed transactions within the last year. Roughly 10.6 million commission checks were issued to agents since there is a list side and a buy side to each transaction. I asked the audience who wanted a larger piece of that $1.3 trillion and the entire room stood up.

I happen to believe we had the perfect trifecta in that room: you as a real estate salesperson, the Mike Ferry organization which is designed to increase list side business, and us at Finance of America where our goal is to increase buy side business and make it more efficient for you, the agent. 

We went over some of our value propositions on stage, and we would love the opportunity 
to set up a call with you so we can learn more about your business and how we can support you. We look forward to any opportunity to work with you and will be reaching out soon. If you have any questions in the meantime, give us a call or send us an email. We would love to hear from you.

**The opinion shared in this post are the opinion of Matt Weaver only and do not reflect the opinion of Finance of America Mortgage, its parent company, or affiliates.**

Thursday, September 22, 2016

Be Our Guest at the Mike Ferry Superstar Retreat

Have you reached your 2016 production goals? Would you like to take on more listings?

Our team would like to help you achieve these goals. This is why Finance of America partnered with Mike Ferry—the number one real estate coach in the world. Mike Ferry has trained more agents in becoming millionaires than any other coach in history. 

We’re inviting you to join us, then, along with 2,500 other agents to the Mike Ferry Superstar Retreat in Fort Lauderdale, Florida, from October 11th to the 14th. Tickets are limited and valued at $495. We want you to be our guest, and we are offering you the opportunity for a free ticket to this amazing event. 

This invitation is for the first 150 agents who reply to this email and visit our office on September 30th at 2:00 p.m. sharp. 

Our office is located at 951 Yamato Road, Boca Raton, Florida. There are no strings attached or fine print to this invitation. If you have any questions, please don’t hesitate to shoot us an email or give us a call. We look forward to seeing you there.

**The opinion shared in this post are the opinion of Matt Weaver only and do not reflect the opinion of Finance of America Mortgage, its parent company, or affiliates.**

Friday, September 9, 2016

What We Do to Strengthen Our Partner Relationships


As a lender, adding value to your Realtor partners is essential. Here are a few things that we do as lenders to add value to our partners and strengthen our relationships:
We provide the Four Pillars of Value to our Realtor partners. This concept, designed over seven years ago, has been proven to increase our real estate partners’ sales, productivity, and efficiency.
We’re very proud of the Four Pillars of Value and the benefits they provide, but in addition, we also love to sit down with our Realtor partners one-on-one. This helps us devise a plan to learn more about the markets they serve, discover their goals, and determine how we can best support them.
We’re always looking for new ways to add value as well. For example, we recently forged a relationship with the Mike Ferry organization. Mike Ferry is arguably the number one real estate coach in the world. The reason why we forged this relationship is simple: we know that the path to a successful agent lies in his or her ability to get more listings.
"I think we can all agree that most mortgage lenders are solely focused on your buying business, but our philosophy is a little different."
We figured that if we partnered with Mike, invited you to a few of his seminars, and allowed you to tap into the Mike Ferry-exclusive webinar that we host—where you can interact with Mike and ask him questions—any small piece of information that you pick up to help you earn just one extra listing adds value in another way.  
I think we can all agree that most mortgage lenders are solely focused on your buying business, but our philosophy is a little different.
We’re proud of this endorsement by Mike Ferry because he hasn’t endorsed a mortgage lender in over 40 years. He now endorses myself, my team, and the company that we represent on a national level.
If you have any further questions about what we do to add value to our Realtor partner agents, give me a call or send me an email. I’d be happy to help you!



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**The opinion shared in this post are the opinion of Matt Weaver only and do not reflect the opinion of Finance of America Mortgage, its parent company, or affiliates.**

Friday, August 12, 2016

Matt Weaver and Finance of America Mortgage Endorsed by NAR'S Most Influential Mike Ferry


We wanted to share a video with you today of an interview Matt did recently with Mike Ferry at the Mike Ferry Superstar Retreat in Las Vegas, Nevada, in front of an audience of more than 4,000 fellow real estate professionals.


In the beginning, Matt makes an important proclamation to everyone in the room: they will have a profound effect on the world’s largest economy in the next 12 months. You see, the 4,000 agents there each average about $1 million in annual sales per year. That’s a total of $4 billion in real estate sales. The NAR claims that for every $1 in real estate sales, that equates to $1.62 in economic activity. This effect, then, contributes $6.5 billion to the national GDP.


In receiving Mike Ferry’s endorsement, they discussed other valuable information regarding the current state of the economy and how the Pulse Team differs from other lenders across the country. Namely, how our Realtor-centric business model serves the real estate community better than the consumer-centric model offered by our competitors.


Real estate agents are our lifeblood. We understand your sales cycle, and we live to serve you, our client.

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**The opinion shared in this post are the opinion of Matt Weaver only and do not reflect the opinion of Finance of America Mortgage, its parent company, or affiliates.**

Thursday, July 28, 2016

How to Appeal a Low Refinance Appraisal

We wanted to share with you a recent article from MortageLoan.com in which Matt was featured as an expert source on appealing a low refinance appraisal.

Have you thought about refinancing your home and locking in at historically-low interest rates? Maybe you have explored the option, but have been denied by your lender, because your home appraised at too low a value.

The good news is, you can appeal that lender's decision. Your chances are not stellar, but it is possible. If you can prove that a factual error occurred in the appraisal process, you may have a chance. Even so, as the article mentions, Matt only sees a refinance appraisal overturned at about a 1 to 30 ratio. Again, the success rate for appraisal appeals is just low. 

There is one key way to really boost your potential for success, though. You want to focus on proving that the appraisers determined your home's value by comparing the home to non-comparable properties.

Appraisers lean heavily on the sale of comparable properties when determining the value of your home. If a similar home in your neighborhood sold recently for $250,000, an appraiser will generally stick within that range. 

Your best bet is to find a comparable sale that was missed by the appraiser. Maybe a home very similar to yours sold just days before the appraisal for $270,000. Now we have a different story to tell.

However, it generally is not always that cut-and-dry. Read the full article, here.

**The opinion shared in this post are the opinion of Matt Weaver only and do not reflect the opinion of Finance of America Mortgage, its parent company, or affiliates.**

How Our 7/24 Program Helps Buyers and Realtors Alike



I think we can all agree that, about seven years ago, we entered a multiple offer environment. We knew we were pre-approving clients the right way from the very beginning. However, when our clients found the home they loved, a listing agent would choose another offer for some other reason. 

We decided to develop a concept to combat that situation. It’s called 7/24. We offer a seven-day loan commitment and will close in 24 days or less. 

Imagine that you’re the seller and you have three offers on the table. Everyone is offering the same amount, but one has a seven-day loan commitment while others will take 30 to 45 days. The others will close in 30 to 45 days. Which would you choose?
We can close in less than 24 days!
Our Realtor partners have been leveraging the 7/24 concept for years. Their clients are able to win multiple offer situations the majority of the time. The idea behind 7/24 was to continuously add value to the Realtor community by helping them increase their sales and getting their clients into homes they absolutely loved. 

Some people might be thinking, “How can you close within 24 days?” We believe in having the right operation support. In fact, we believe in having more operations than sales. The entire loan process happens within our team and local to our office, allowing us to control the entire process, provide a great customer service experience, and raise client expectations. They deserve to close in 24 days or less. In fact, we just closed a transaction in 11 days!

If you have any questions, give us a call or send us an email. We would love the opportunity to be of service to you!

*This is not a commitment to lend.  Not all borrowers qualify. Restrictions Apply.

**The opinion shared in this post are the opinion of Matt Weaver only and do not reflect the opinion of Finance of America Mortgage, its parent company, or affiliates.**

Tuesday, July 26, 2016

Q&A with Finance of America’s Vice President of Sales’ Matt Weaver



With interest rates at an all-time low amidst what has arguably been the most contentious presidential election of all time, many Americans are no doubt probably wondering whether or not now is a good time to buy a home. And for the first-time buyer in particular, fulfilling the American dream can feel like an especially slope. To get some answers, 25A recently chatted with 18-year mortgage industry veteran and Finance of America’s Vice President of Sales’ Matt Weaver.

What’s your take on the recent rate cuts, and in your view, what is propelling that? 


Mortgage rates have been at an all-time low for quite some time. What’s most compelling is that we’ve seen about a half a percent decrease over the past ten days with what’s happening in the European markets, particularly the UK and the potential exiting of the European Union. As we know, when investors flee their stock positions they go into bonds, which end up having an effect on long-term rates interest rates by lowering them.

I’m very pleased by these recent developments, which I think is going create new opportunities for a lot of buyers to get off the fence and back into today’s marketplace.

Especially for the first-time buyer, what can they do to best optimize these opportunities? I think for the buyer who is just starting out, one of the most important things is that they educate themselves as much as possible and do their “homework” about buying a home before they actually do so. This is something that Finance of America is very passionate about. One of the biggest mistakes that first-time buyers make is that they engage the services of a real estate broker without ever first consulting with a mortgage lender. Of course, for somebody who has never bought before, this seems like the natural way of going about the home buying process—let me go look at the product first and then I’ll talk to the mortgage broker later—but it’s not practical. That’s really what I think the market needs to understand because number one, mortgage financing is not as difficult in some cases as some may think. In fact, it’s much more liberal than what the general public probably thinks. The question becomes are we preparing ourselves just like in anything … are we preparing ourselves in advance to know what we need to do or where we need to be to qualify.


Is it better to own or rent these days?

In most traditional markets, owning far outweighs renting eight times out of ten. The question then becomes how remove the myth of the buyer needing a lot of money to purchase a home—especially in situations where the actual monthly rent itself on top of first and last month’s rents and security deposits are essentially the same.

What I think the younger generation is missing is a shot in the arm. What I mean by that, is that today’s younger generation is no longer coming from a linear of wealth. Our country has been through some hard times and the mindset has shifted. With today’s markets they have an opportunity to springboard into their first level of wealth creation by owning their first piece of real estate. It is typically the first purchase that serves two purposes: the first being the necessity of somewhere to live, second and with greater value is the appreciation of their greatest asset over time far exceeding what they could have possibly saved from their monthly paycheck. To test this theory let’s ask those that have successfully retired what the key ingredient is, the common denominator will be real estate.


How does the first-time buyer who wants to buy and can’t do so by traditional means go about this?

Again, it’s all about education. I think what we have to do is make everyone more aware of the process when it comes to how to qualify, how to buy sensibly, how to borrow sensibly. More than ever before there are a lot of technological vehicles to help facilitate this, although it still doesn’t replace working with a qualified mortgage professional.


Besides major cities like New York, Los Angeles and Chicago, what are the best markets to buy in right now?

I think a lot of it depends on the use and whether or not that person is looking to use it as a primary, secondary residence or investment property. What’s popular now is using it as a secondary residence for part of the year and then renting it out for the balance of the year. This of course became fairly popular due to some of the popular online rental sites such as Air BNB. In terms of specific locations, the Carolina’s are doing really well and South Florida is always a prime market for these types of buyer. Again, a lot of it just depends on what the use is and what the strategy behind the buy is.


Depending on the outcome of the current presidential election, how will a Donald Trump win affect real estate and how will a Hillary win affect real estate, particularly with interest rates?

That’s a good question. It may be a little difficult to answer. Right now, I think everyone is just appreciating the show that’s happening. It will be interesting to see how that plays out, but I don’t really think that the Federal Reserve is playing to that tune. I really do think it all comes down to jobs and growth in the economy for them to really start making a move towards increasing interest rates. The question then becomes whomever we feel is going to stimulate more of that job growth.


**The opinion shared in this post are the opinion of Matt Weaver only and do not reflect the opinion of Finance of America Mortgage, its parent company, or affiliates.**

How Brexit and the Recent Slash in Interest Rates Can Benefit U.S. Home Buyers



With interest rates at an all-time low—and even amidst the uncertain impact of the U.K.’s recent decision to leave the European Union on top of one of the most contentious presidential elections in modern history—the benefits for today’s home buyers are unprecedented.


And more than any other sector of the market, this is especially true for the first-time home buyer who may still be on the fence about it. That said, though, it’s also essential to look before you leap by doing your homework and arming yourself with as much information as possible before you buy.


At Finance of America, one of the biggest mistakes that first-time buyers often make is that they engage the services of a real estate broker without ever consulting a mortgage lender. Of course, for somebody who has never bought a home before, this seems like the natural way of going about the home buying process—let me go look at the product first and then I’ll go talk to the mortgage lender. However, it’s not practical and that’s the most important thing that today’s buyer needs to understand.


Thus, the question then becomes how to remove the myth of the buyer needing a lot of money to purchase a home

The other thing that’s important to keep in mind is that mortgage financing today isn’t nearly as difficult as some people might think, particularly in more traditional markets where the benefits of owning outweighs buying eight times out of ten. Thus, the question then becomes how to remove the myth of the buyer needing a lot of money to purchase a home—especially in situations where the actual monthly rent itself on top of first and last month’s rent and security deposits are essentially the same.


What I think the younger generation is missing is a shot in the arm. What I mean by that, is that today’s younger generation is no longer coming from a linear of wealth. Our country has been through some hard times and the mindset has shifted. With today’s markets they have an opportunity to springboard into their first level of wealth creation by owning their first piece of real estate.


Again, it’s all about education. I think what we have to do is make everyone more aware of the process when it comes to how to qualify, how to buy sensibly, how to borrow sensibly. More than ever before there are a lot of technological vehicles to help facilitate this, although it still doesn’t replace working with a qualified mortgage professional.


**The opinion shared in this post are the opinion of Matt Weaver only and do not reflect the opinion of Finance of America Mortgage, its parent company, or affiliates.**

Wednesday, July 13, 2016

Everything You Need to Know About the Pre-Approval Process

I’m here to explain a little bit about our pre-approval process. Those of you who know me are already aware that the pre-approval process is one of my biggest passions.

At the Pulse Team, we do everything up front before you find a home and before any big decisions are made. Our pre-approval process is streamlined. We start with a 10-minute application over the phone and then email you the exact items that we need.

Once the items are gathered, we’ll review your information within 24 hours or less. We’re open seven days a week from 8 a.m. to 9 p.m. so that we are accessible whenever you need us. Once you have our pre-approval letter, you can rest assured that your loan will close successfully.

"Our thorough pre-approval process is designed to help you close successfully."

Our pre-approval process is designed to give our clients a competitive edge in today’s marketplace, especially since we are in a multiple offer environment right now. Most agents are aware of the thoroughness of our process, so everyone involved in the transaction will be comfortable with us.

The mortgage industry has one major flaw, and that is the lack of a thorough process. Most mortgage lenders play the odds with a real estate agent’s time. These lenders know that out of every 100 buyers who do not speak to a mortgage lender upfront, 70 will still be able to close successfully.

The remaining 30 will fall into one of three buckets: they will have to either reduce their budget, fix something in their financial profile, or delay buying for more than 12 months. We don’t just play the odds. We devote the same time, energy, and resources to each client from the very beginning so that everyone knows exactly where they stand.

If you have any questions about the pre-approval process, just give us a call or send us an email. My team and I would be happy to help you!

**The opinion shared in this post are the opinion of Matt Weaver only and do not reflect the opinion of Finance of America Mortgage, its parent company, or affiliates.**