Equal Housing Lender
Empowering MLOs: Clients2Homeowners.com's New Chapter in Mortgage Solutions
Pam Marron • Apr 10, 2023
Clients2Homeowners.com makes a pivot!
The Influence behind Creation of Clients2Homeowners.com
Back in 2011, amidst the housing crisis, a unique mortgage networking group called "Brokers and Bagels" sprouted in Clearwater, Florida. The members included independent mortgage brokers, mortgage wholesale lenders, and other mortgage professionals, all grappling to find their footing in the industry.
Rising from the Ashes: Learning the New Mortgage Landscape
The group's popularity soared as word got out that this was the place to learn the ins and outs of the new, stricter mortgage landscape. Mortgage brokers transformed into licensed independent loan originators, and an ironic twist due to stricter mortgage regulations leveled the playing field between retail lenders and licensed mortgage broker companies with a cap on compensation.
Helping Clients Overcome Life's Hurdles
With clients still in need of homes, mortgage professionals had to navigate a complex world of helping those with life-altering events, such as divorce or job loss, which often led to damaged credit and foreclosures or short sales. And the challenge didn't end there—many mortgage colleagues found themselves in similar situations while guiding others through the process.
Reminiscent of past support received from “Brokers and Bagels” to the mortgage broker community, it's time to make changes to Clients2Homeowners.com.
The initial creation of Clients2Homeowners.com was to help buyers overcome obstacles preventing homeownership. But now more than ever, MLO's are experiencing major changes. Good mortgage products are coming out continuously but the battle to find available affordable homes, coupled with the highest interest rates in decades, is resulting in less use of these programs.
MLOs need to think outside of the box to make these mortgages work. So clients2homeowners.com is now pivoting to promote and share ideas that work for MLOs with these good mortgage products to help get real estate agents and clients across the finish line.
Embracing Change: The Site's Exciting Pivot
Clients2Homeowners.com is now shifting gears to be a resource center primarily for mortgage loan originators, offering mortgage "how-to" guides and introducing explanation of new loan products that loan originators can use to make it easier for realtors to assist clients looking to buy homes.
A Nostalgic Twist: "Brokers and Bagels" Reimagined
Paying homage to its roots, Clients2Homeowners.com is launching "Brokers and Bagels on Zoom," a monthly virtual meeting where the mortgage community can come together to share ideas and collaborate on getting clients into their dream homes.
MLO Collaboration is Welcome!
Collaboration was a key benefit learned from the original "Brokers and Bagels". Networking with industry colleagues always seems to lead to new, novel ideas! Don't miss out on this exciting opportunity to transform your mortgage business and help clients achieve their dream of homeownership. Connect with the new Clients2Homeowners.com community today and be a part of the innovative mortgage collaboration that's changing the game.
Click here to sign up for our monthly 'Brokers and Bagels on Zoom' meetings and start making a difference!
Writer Pamela Marron is a licensed Loan Originator NMLS #246438 in Florida who works for Innovative Mortgage Services, NMLS #250769 in Lutz, Fl. Articles written are strictly her opinion and are published to help loan originators, real estate professionals and mortgage clients. This is not used to solicit for business.
Pam Marron | NMLS# 246438
Tara Jerse | NMLS# 2105127
Innovative Mortgage Services, Inc. | NMLS# 250769
Equal Housing Lender
Down Payment Connect is already being used by MLOs and Realtors. Now it's available to HUD Counselors through HomePrep! Down payment assistance is quickly rising to the top need for clients wishing to purchase a home. Down Payment Connect , the back-end data provider for the parent Downpaymentresource.com , houses every down payment assistance program in the US and provides extremely detailed information laid out in a consistent format for each DPA program in their system. Throughout the last two years, Downpaymentresource.com administrators have worked with MLO’s and the HomePrep developers to add nearly all wholesale down payment assistance programs to their platform and they didn't stop there! Extensive filters that allow for selection of specific client needs such as type (ie. SFR, manufactured homes, condos, multi-family, ADU’s), uses like renovation, above AMI income levels, non-1st time homebuyers are just a few of the filters you will find along with stand alone 2nd mortgages, combined 1st and 2nd mortgages and grants. DownpaymentResource.com is also in many MLS systems across the US and provides limited directory information and a free landing page for realtors to promote that they use DPA. Both MLO’s and realtors can subscribe to Down Payment Connect to get more of the extensive directory and back-end tools. Now, through HomePrep, HUD counselors can also use the Down Payment Connect system to filter trhough DPA programs that clients are qualified for, and can even provide wholesale programs when working with an independent loan originator (often called a mortgage broker)! Through HomePrep, HUD counselors are now able to provide MLO’s and clients with the DPA programs that they have found the client is eligible for.
If you have FFEL Student Loans, Take Action Before April 30th!
Three great tools that mortgage loan originators (MLO) can use to assist clients who need help with credit, down payment assistance and student loan repayment services have been used, fine-tuned and are already in use with individual MLO’s. These tools combined with the Freddie Mac HomeCoach automated system along with budgeting help and Homebuyer Education are all integrated in the HomePrep online platform that connects MLO’s with clients who have challenges to HUD counselors that get them mortgage ready.
Pam Marron, NMLS# 246438
Innovative Mortgage Services, Inc. NMLS# 250769
