13Jan
We Are Expanding Our Operations Team
Lendability.com is seeking individuals with a strong background in mortgage processing and fulfillment to work in our Phoenix/Tempe, AZ corporate office. Candidates must have worked in the mortgage industry and have a proven track record of success. Our team is professional, ethical, motivated, and emphasizes first-class customer service to all our clients and affiliates.
Job Duties Include:
• Convert pipeline of 25-40 loans to funding
• Management of pipeline to ensure high close rate on all mortgage applications
• Consistent communication with borrowers, lenders, and title companies
Knowledge, Skills, and Abilities:
• 2+ years of mortgage broker/processor experience working with multiple lenders
• Knowledge of Fannie Mae underwriting guidelines and eligibility requirements
• Knowledge of FHA, VA, Conventional, Jumbo, Super Jumbo, and Home Equity
• Experience in managing a pipeline of 35+ loans
• Must be self-motivated and have the ability to work 40 hours per week
• Strong customer service background is REQUIRED
• Ability to communicate effectively in writing and verbally with customers and affiliates
Compensation range is $35K+ annually DOE. Candidates must have verifiable previous work history and income for consideration of employment. Please email a current resume and salary history along with a brief cover letter detailing your abilities to staffing@lendability.com.
Tags: Arizona, employment, job opening, Lendability.com, loan processor, Mortgage, phoenix, real estate
13Jan
December Arizona Market Wrap Up
The first week of the year began with a bang. From both affiliated Realtors and non-affiliated Realtors, our call volume for Pre-Qualifications saw a sizable jump this week. Thank you and keep them coming. You can continue to rely on us to provide you with speedy responses for your clients. 
As we look forward to 2010, I would like to take this time to review the December 2009 Phoenix Market Data (Information provided by our friends at CromfordReport.com):
• Sales at 7,729 were UP 284 from November’s 7,445
• Active Listings at 38,938 were DOWN 608 from November’s 39,536
• Sales Per Year at 92,427 were significantly UP 33,225 from 2008’s 59,202
• Days on Inventory at 154 was DOWN 6 days from November’s 160 days
• Sales/SQFT at $91.26 was DOWN $0.71 from November’s $90.55
Please note that we had over 33k more homes sold in 2009 than in 2008. With the changes in the Phoenix market over the last two years, Realtors quickly figured out how to partner with asset managers, navigate the short sale process, and create solid partnerships with mortgage brokers to develop new business. We all realized that in order to survive in this business, we had to not only get creative, but simply get back to the basics. With the many new tools that we have learned, we are ready for an even more successful year in 2010.
Now is the best time for us to re-visit our partnerships and build stronger relationships. I look forward to meeting with you and hearing how we can further enhance our service to both you and your clients this year. I would also love to hear how we can become your preferred referral option for all of your partners and clients.
Here’s to an exciting and successful 2010!
Tags: 2010, active listings, Arizona, days on inventory, december, Home Sales, Lendability.com, Mortgage, phoenix, sales per year
11Dec
November Arizona Market Wrap Up and Holiday Rate Discount
From all of us at Lendability.com, we would like to wish you and your family a very happy holiday. We would also like to extend an additional .25% off of our lowest rates when you send your clients to Lendability.com. This rate cut is available for both purchase and refinance business. Rates have dropped to a new low in the last two weeks.
Take a look at some data below from November 2009 (Data provided by our friends at CromfordReport.com, which you now have access to using your MLS ID):
- Sales at 7,673 were down 247 from October’s 7,920 - Please note that the Thanksgiving holiday impacted the number of days in the month
- Active Listings at 39,957 were up 938 from October’s 39,019
- Sales Per Year at 89,390 were up 2,527 from October’s 86,863
- Monthly Supply at 4.8 was down 0.2 from October’s 5.0 month supply
- Average Sales Price at $173,881 was up $2,704 from October’s $171,177
Much of the success of 2009 can be attributed to the $8,000 tax credit, low home financing rates, and low home prices. Nationally, sales contracts soared in September and October to 32% higher than a year ago. Many home buyers were trying to take advantage of the tax credit before it expired. Luckily, the tax credit has been extended to June 30, 2010 and expanded to all buyers. It is important to note that purchase contracts must be signed by April, 30 2010 in order to qualify for the credit. While it may seem that there is plenty of time for your clients to purchase a home and receive the tax credit, now is the time to engage your pipeline. Our purchase pipeline has grown significantly due to the increasing number of buyers on the market. It is taking 90 days or longer for buyers to find the perfect home and get the contract accepted.
As part of Lendability.com’s commitment to building relationships with all clients, we are working closely with customers who are facing credit issues. Every month we are able to help 5-10 clients who need to repair their credit. This service is at no extra cost to your client. Remember, we only need a 620 credit to get your client approved.
If you are doing open houses, please send me a message (chrism@lendability.com) with the property and the date. We would love to meet you face to face and help you qualify your potential buyers.
Please call us or visit this website for your tax credit questions.
Tags: active listings, Arizona, average sales price, First Time Home Buyer Tax Credit, holiday discount, Home Sales, Lendability.com, monthly supply, Mortgage, November housing market, phoenix, sales per year
23Nov
October Spike in Existing Home Sales
More good news hit the wires this morning!
CNBC is reporting that existing home sales reached a record high in October, topping off at 10.1 percent, which amounts to an annual rate of 6.10 million units. Up from a 5.54 million-unit pace in September of this year, the National Association of Realtors reported this surge to be the highest since February 2007.Industry experts are attributing this jump in sales to buyers taking advantage of historically low mortgage rates and the home buyer tax credits.
Analysts were expecting to see a more modest increase in October sales, with a 5.70 million-unit pace up from the formerly reported 5.57 million-unit pace in September. The October sales increased by 23.5 percent compared to October 2008.
In October, all four regions of the U.S. saw an increase in sales. Single-family home sales rose 9.7 percent to an annual rate of 5.33 million units. Condominiums and co-op sales increased 13.2 percent, totaling an annual rate of 770,000 units.
The existing homes for sale inventory fell to 3.57 million units in October, a 3.7 percent decrease from September 2009. The National Association of Realtors reported that the sales pace for October represents a significantly low supply of 7.0 months, compared to September’s supply of 8.0 months.
Click here to view the CNBC article.
Tags: existing home sales, First Time Home Buyer Tax Credit, Housing Market, Lendability.com, low mortgage rates, Mortgage, national association of realtors, October, real estate, realtors, rise in home sales
23Nov
Realtors, Who’s Your Target?
There are only three types of purchase buyers: Investors, move-up buyers, and first time home buyers. Who are you targeting?
NAR released that nearly half of the purchases for 2009 are first-time home buyers. The obvious factors playing a major role are significant drops in home prices, $8000 tax credit, low mortgage rates. It seems clear that with half the purchase market being first time home owners that would be the most likely target. The industry is ecstatic that the tax credit was extended through the middle of 2010. So there is still time to wrap your arms around a game plan to attract first time home buyers.
For all of us in the real estate business we continue to work with first time home buyers. Education seems to be the biggest win for us Lendability.com. We have held several seminars on the the home buying process. Many participants have purchased in the past and still attend because they are hungry for information that help them through the transaction. We have also been successful cleaning credit items that are impacting the credit score. We do this at no cost to the customer.
NAR estimates that 5MM resales will close for 2009 and 5.69MM for 2010. Buckle-up because this could be a great ride for all of us.
Please share your thoughts with me. As your partner, we want to work with you to attract new home buyers. If you have any ideas, please reach out to us and we will help you execute on them!
Have a great week.
Click here to view the CNN Money Article.
Tags: first time home buyers, home buyer tax credit, Lendability.com, Mortgage Industry, Mortgage Rates, purchase market, real estate professionals, realtors, target audience
17Nov
We’re Growing!
Lendability.com is expanding its Sales Team!
We are seeking motivated individuals to create and cultivate relationships with Realtors.
We offer:
• Performance-based Tiered Compensation Plan
• In-house Processing
• 30 day closings
• Training
• Help With Developing Your Book of Business
Preferred, but not required: Mortgages/Real Estate Sales experience
Lendability.com is a full-service, online discount mortgage company. We offer consumers a wide-variety of progressive mortgage products designed to provide quality, low rate home loan options. We take a highly advanced approach to financial service offerings, providing customers with unmatched access to personalized financial information in an efficient and secure format.
FHA/VA/CONV/JUMBO/USDA approved.
Send resumes via email to contact@lendability.com or fax (888) 400-3908.
Tags: Arizona, employment, job opening, Lendability.com, loan officer job, Mortgage, now hiring, phoenix, resume, sales job
06Nov
October Housing Market Wrap Up for Arizona and Home Buyer Tax Credit Extension!!
More great news about the national real estate market was reported on Monday. September had an increase of 6.1% in Pending Home Sales. The rise to 110.1 million from 103.8 million marked the largest annual increase on record and the longest streak of gains since the measurement began in 2001.
The gains are attributed to home buyers rushing to take advantage of the $8,000 tax credit which was set to expire at the end of this month. Fortunately, the President signed a bill today extending the tax credit seven more months! This extension includes a tax credit of $6,500 for home buyers who have lived in their home the previous 5 years. In addition, it increases the number of people eligible for this tax credit by adjusting the income cap to $125,000 for individual filers and $225,000 for joint filers. Click here to view the CNN article.
Here are the Arizona market results for October 2009 (Information was provided by our friends at CromfordReport.com):
• Sales per Month @ 8,032 were up 191 from September 2009 @ 7,841
• Days on Market @ 91 was down 2 days from September 2009 @ 93
• Days on Inventory @ 163 remained steady from September 2009 @ 162
• Active Listings @ 38,733 were up 1,315 from September 2009 @ 37,418
• Median Sales Price @ 128K remained somewhat steady from September 2009 @ 130K
• Lender Owned Percentage of Monthly Sales @ 46% was down from September 2009 @ 50.6%
Tags: Arizona, days on market, First Time Home Buyer Tax Credit, Home Buyers, home finance, Housing Market, Lendability.com, mortgages, October, pending home sales, sales per mo
23Oct
September Spike in Home Resales
Great news hit the wires this morning as the National Association of Realtors released September resales numbers. In August, home resales fell for the first time in four months. September resales spiked 9.4% to the highest level in 2 years.
The home resales have been seasonally adjusted to an annual rate of 5.57 million (up from 5.1 million). Nationally, prices are still down. The median sales price in September was $174,900, down 8.5% from 177,300 in August. Additionally, most homes sales are under 250K; 21% were $0-$100k and 48% were $100k-$250k.
Inventory fell 7% to 3.63 million; a 7.8 supply of inventory at the current sales pace. Nationally, resales are up 24% from their bottom in January but down 23% from 4 years ago.
We expect October will continue at the same or higher pace than September. There are three major factors driving this activity: First Time Home Buyer Tax Credit of $8k, FHA mortgage programs, and historically low mortgage prices. First-time home owners are rushing to close on their homes before November 30th when the tax credit is set to expire. While lawmakers are considering extending and expanding the tax credit to the all home buyers, there is still no certainty that this will happen. Realtors and Mortgage Companies alike are seeing first-hand how many clients are buying for the first time. The expiration of the tax credit could significantly impact the real estate market after November 30th.
For more news or program updates, please follow us on Facebook, ActiveRain, and Twitter.
Tags: FHA, First Time Home Buyer Tax Credit, home resales, Lendability.com, Mortgage, Mortgage Rates, Realtor
09Oct
September Arizona Market Wrap Up & Tax Credit Expiration Nov 30th
As we closed out the last month of the third quarter, activity in the Phoenix Real Estate Market was strong.
October, thus far, has been a big month for Lendability.com on Purchase Loans because there is still uncertainty surrounding the expiration of the tax credit. As of today, it will expire on November 30th. That means we need to get Purchase Contracts in and Loans in Process as soon as possible.
Most of us are anxiously awaiting the decision on the expansion and extension of the first-time home buyer tax credit. While debatable on a national scale, here at Lendability.com most, if not all, of our Realtor Affiliates have benefited from this tax credit. Over 80% of our Arizona Purchase Loans are first time home buyers.
The expansion and extension will definitely impact our market place. Stay tuned for updates.
Here are Results for September 2009 (Information was provided by our friends at CromfordReport.com):
- Active Listing @ 37,793 remained STEADY from August 2009 @ 37,523 - It’s important to note that Active listings in August 2008 were @ 53,908
- Pending Listings @ 13,709 were up 437 from August 2009 @ 12,639
- Sales Per Month @ 7,593 were down 937 from August 2009 @ 8,530 - note that Sales Per Month in August 2008 were @ 5,505
- Sales per Year @ 84,210 are up 30,719 from 2008 @ 53,491
- Days on Market @ 94 is down 7 days from August 2009 @ 101
- Days on Inventory @ 164 is down 3 days from August 2009 @ 167
Tags: first time home buyer, Home Sales, Housing Market, Lendability.com, Mortgage, September, Tax Credit
16Sep
40% of Home Owners Qualify for Tax Credit
If you had to guess the percentage of new home owners who qualify for
the $8,000 tax credit, what would you say? 10%? 25%? Try 40%.
According to an article just published by the New
York Times, 40% of all home buyers will qualify for the tax credit this year.
In February 2009, Congress passed a bill that provided an $8,000 tax
credit for home owners who had not owned a home for the last 3 years.
The credit will cost an estimated 15B, which is twice the projections
made when the program went into effect in February.
While some view that the tax credit is going to people that were planning on
buying anyway, Real Estate experts and analysts believe that the credit
is responsible for several hundred thousand home purchases. At
Lendability.com, most of our purchase customers begin the process with
the tax credit in mind. While we are not CPA’s, we expect that over
80% of our purchase loans will qualify for the credit.
The National Association of Realtors (NAR), a 1.1 million member
organization, wants to extend and expand the program. They
would like to:
• Extend the program through Summer of 2010
• Increase the tax credit amount to 15,000
• Expand program to all buyers, not just first time home buyers.
The sponsor of the original bill, Johnny Isakson, Rep of GA, is
proposing similar changes in his new bill. He states that without
the new bill, there would be a downward spiral of home sales and more
foreclosures, provoking a second recession.
Tags: Home Buyers, Home Owners, Lendability.com, Mortgage, Purchase, Recession, Tax Credit
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