Real Solutions, Real Time!
The Mortgage Optimizer!
August 2008
Volume 2, Number 8
In This Issue
Happy Birthday !!!
Repo List - Part 2
Total New Applications
From the President’s Desk
Your Monthly Mortgage Tip: Secrets Lenders don't want YOU to know!
Links:
Repossessed Homes
xmloans.com/repos
Link: Construction
Attorneys
Happy 1st Birthday XM Loans!!!
XM Loans Ltd. celebrates its’ 12th month in business this month. We are pleased to have received your support over the last year and look forward to serving you even better in the months and years to come.
It has been an incredible journey thus far and we are excited about the phenomenal changes in store for your mortgage brokerage in the coming months. Some of the improvements in store for quarter 3 and 4 of this year include;
i. Client log-in to access previously entered application info
ii. Client log-in to access status of application submitted
iii. Client service process refinement
iv. Improved marketing campaign
v. Continued technical improvements to website
Above all, your mortgage brokerage is committed to ensuring that your interface with us continues to meet and exceed your expectations.
For more information on insurances, email us at info@xmloans.com
Repossessed List – Part 2
XM Loans Ltd. is again pleased to provide the region’s first online list of repossessed homes. This list includes homes and vacant land repossessions from local lenders throughout the Bahamas. Click here to see the list.
While we offer no assurances of the accuracy of the information contained, please feel free to contact the lender directly with any questions. We also urge to make sure you qualify for the repossessed home you may be interested in by using our online application form. Click here to see if you qualify!
$53,364,800.00 in new applications in our first fiscal year!
After yielding over twenty-five million dollars in applications in our first six months (see http://www.xmloans.com/newsletters/Mar2008.htm), we are pleased to share that we have received and astounding twenty-eight million dollars of mortgage applications in the subsequent six months of March ’08 to August ‘08. This brings our annual (September ’07 – August ’08) total to just over Fifty-three million dollars in applications received. Not bad for our first year!
The astonishing impact of the XM loans “Real Time” mortgage qualifier on the jaded and dated mortgage application process cannot be denied. Bahamians and others are quickly discovering what most of you have known; that when it comes to getting a mortgage, there is now a newer and better way.
From the President’s desk….
|
HAPPY 1st Birthday XM Loans It is rather difficult to contemplate the fact that one year has already passed since we launched our new ground-breaking mortgage business. Some of our notable accomplishments of the past year include; |
a. Over fifty million dollars in applications
b. All applications replied to in less than 2 minutes
c. Repossessed list from all lenders compiled online
d. Lobbying the government for stamp duty exemption
e. Speaking engagements at various national events
f. Changing the mortgage landscape of the region
g. Democratizing information regarding mortgages
These are only some of the highlights of our first year, and rest assured that over the next 12 months we will continue to revolutionize the local and regional mortgage industry. We all are possessed of the ability to change our world and while these changes sometimes begin small, we ought to never despise the day of small beginnings.
One year down and an eternity to go!
XM Loans Ltd. “Real Solutions, Real Time!” ©
Your monthly mortgage tip:
Secrets Lenders don't want YOU to know!
|
If you are an employee that gets gratuities at your job, did you know that lenders do not use the all of gratuities listed on your job letter when considering you for a loan. Even though employers typically put your average gratuities in the job letter, lenders insist on further discounting this part of your income by refusing to use more than 50% of it. |
As a result, rather than having the benefit of your average gratuities to aid in your qualification, your gratuities are further diluted when the lender reduces it by another 50%. The net effect is that you are only able to use around 25% of your gratuities when qualifying for a mortgage. We think that is rather harsh, what do you think?
To find out if your income is being overly discounted, email us at info@xmloans.com
CONSULT YOUR BROKER – EVERY PENNY COUNTS!
About Us | Privacy Policy | Contact Us | ©2007 XM LOANS Ltd.
1(242)
225-3873 or 1(800) 303-3934
www.xmloans.com
The material contained in
this newsletter has been prepared by XM Loans Ltd.
404 Bay Street, PO Box N-4443,
Nassau,
Bahamas
and independent feature contributors. The material provided is for
informational and educational purposes only and should not be construed as
investment, financial, real estate and/or mortgage advice. Although the
material is deemed to be accurate and reliable, there is no guarantee it is
not without errors.
As your Trusted Advisor, we always want to make sure you are clear on all
details of the home financing process. If you or someone you know are
interested in purchasing or refinancing a home, give us a call today! XM
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