Understanding the New FICO Score

October 26, 2018By pam-adminStreet Talk

  FICO announced this week a new way that they will be calculating credit scores beginning in pilot at the start of next year with the intention of being rolled out to all lenders by summer 2019. The new scoring system takes into account the way people manage their bank accounts and money market accounts … Read More

Sales Price Reductions vs. Seller Concessions

October 19, 2018By pam-adminStreet Talk

In a rising rate environment does it make more sense for a seller to reduce the sales price to sell their home or to intrigue potential buyers by offering seller concessions? Let’s take a look at a pricing example for a home priced at $500,000 with the borrower putting down 10% (equaling $50,000) and closing … Read More

It Just Takes One Action

October 12, 2018By pam-adminStreet Talk

Thank you to all who attended Thursday’s event featuring Jason Abell from Rewire, Inc. We hope you walked away with a new outlook on the way we all think and at least one thing that will positively impact your business. A key takeaway from the event was Rewire, Inc.’s Seven Actionable Items everyone has the … Read More

Top 10 Questions to Ask Your Clients

September 27, 2018By pam-adminStreet Talk

Communication is key for any successful transaction. Below, please find the top 10 questions our Loan Officers have identified as helpful to discuss with their referral networks throughout the loan process.   1. Have you completed a full pre-qualification for the clients? 2. Does anything worry you about this loan? 3. What do you need from us to make the … Read More

Why Fairway? What Separates us From the Competition?

September 14, 2018By pam-adminStreet Talk

At Fairway our goal is to act as a trusted advisor, offering highly personalized service and helping your clients through every step of the mortgage process. We aim to exceed expectations, provide satisfaction and earn trust. It is our job to provide an exceptional financing experience and we want to highlight a few of the differentiating … Read More

What is PMI?

August 16, 2018By pam-adminStreet Talk

If a borrower is not putting 20% down on a purchase, private mortgage insurance (PMI) will be a factor to consider when calculating monthly housing budget. PMI is insurance that protects the lender against losses in the rare case that a borrower is not able to repay the loan and the lender is not able … Read More

Mortgage Myth Busters

August 10, 2018By pam-adminStreet Talk

Myths can hurt our clients. Many potential homebuyers believe mortgage myths that are simply not true and may be holding them back from buying a home. Check out these 10 mortgage myths and let’s talk about the options available for your clients. You need 20% for a down payment You can only use your VA … Read More

Rethink Reverse

August 3, 2018By pam-adminStreet Talk

A reverse mortgage gives those that qualify the opportunity to gain financial security while eliminating monthly mortgage payments. Instead of monthly payments, the loan is repaid when the last borrower leaves the home. As part of the loan, the borrower is required to continue paying property taxes and insurance and maintain the home. Here are … Read More

Your Client May Have More Options Than You Think

July 26, 2018By pam-adminStreet Talk

In this ever-changing market, it is more crucial than ever to lean on a trusted Loan Officer when working with clients. Guidelines and program qualifications continue to be updated and what works for one client may not be the best fit for another. Fairway offers numerous specialty products and programs to allow us to best … Read More