Rylan Maddox - NMLS 973196

If you are a new loan officer that wants to learn some best practices around FHA and VA streamline refinances, OR if you are a seasoned loan officer and you just want to try to pick up a few tricks you may not already know, register below!

Elevate your mortgage game by tapping into a thriving market segment with the exclusive webinar, How to Price and Write FHA / VA Streamlines featuring AIME Chairman & CEO Jonathon Haddad and HI FIVE TEAM president, Rylan Maddox! Dive deep into the tips, tricks, and strategies from ex-retail experts turned wholesale leaders, who have facilitated thousands of FHA and VA streamlines.

Event Details:
🗓️ Date: Tuesday, August 6th , 2024
⏰ Time: 3:30 pm EST / 12:30 pm PST
📍 Location: Zoom Webinar

https://tinyurl.com/AIMEFHAVAstreamline

AGENTS! - Who wants this co-branded for them to use for their clients??

Comment INTERESTED below!

My toxic trait is that when I get "Secure emails" I simply delete them. 🤷

I have been saying for MONTHS, that the jobs data appears manipulated. Maybe now that someone with a fancy title and appearances on financial news segments has said the same thing people will listen.

x.com

For my Hawaii friends, check this out!

Dustin Cronhardt, Realtor || The Karma Team, Hawai'i Dustin Cronhardt, Realtor || The Karma Team, Hawai'i

Check out this awesome home less than 30 minutes from me! WITH A $10k Seller credit!

3691 Makley Cir, Castle Rock CO 80104 Home for Sale Home for sale at 3691 Makley Cir, Castle Rock CO 80104. $635,000, Listing # 5254551.

Check out these helpful apps for Veterans!

https://news.va.gov/130344/12-cool-mobile-apps-for-veterans/?

12 cool mobile apps for Veterans - VA News In today's fast-paced world, mobile apps are no longer just a convenience, but a necessity for Veterans.

When two of the WORST mortgage companies for consumers decide to buy the internet lol. Working with either of these companies is the definition of FAFO, but for your wallet.

Interesting. Using your media arm to put out negative "news" while your hedgefund shorts the company. Sounds like market manipulation to me but what do I know. Ironically, one of the owners of Hunterbrook media's father is the co-creator of the Show Billions. Maybe he sees himself as one of his father's characters? lol

Is first investigation from 'news hedge fund' Hunterbrook just a big short on top U.S. mortgage lender UWM? News hedge fund Hunterbrook launched by alleging fraud at United Wholesale Mortgage while shorting the stock. Is this the future of media?

Reviews like this remind me why we do what we do. Aloha Friday Everyone!

HI FIVE Team Loans

Where are my investors at??

Some clarity about this incredibly attention-grabbing headline… it’s frustrating that a “reliable” news source would put out such a misleading and potentially harmful message to both Buyers and Sellers.

✅ there has never been a “standard” 5-6% commission (over the years I have seen listing agents charge as much as 10% for their services, and I have seen buyers agents get paid as little as .09%) as you can see there is nothing “standard” about that range. If anything, “on average” or “median” is better stated.

✅ commissions are not being eliminated; however, they will be negotiated in a different, and much more confusing and convoluted way.

✅ what has been proposed is dropping the language in MLS listing that states what will be paid to a cooperating brokerage.

✅ Sellers have been under the impression for a long time that they solely pay for a transaction and the Buyers don’t have to pay anything - WRONG - the Buyers pay for the entire transaction, which in turn pays for all commissions, including the Sellers.

✅ I believe that many Sellers think this because it is specified in their listing agreement that they are being charged X% by the listing brokerage, and in a subsequent paragraph, it specifies that if a Buyer is represented by a Buyer’s Agent, then a portion of X% (commonly half = Y%) is paid to the Buyers brokerage is paid at closing.

✅ At closing, even though the Buyers are the ones bringing ALL the money to the table, on paper it appears that the Sellers pay all commission and the Buyer pay “nothing”. Which clearly isn’t true or accurate.

✅ In the example shown in the headline that would mean that listing and buying brokerages would each get paid 2.5%-3.0%, and of that, brokerage fees, referral fees and commissions are paid out.

✅ The way it had been done allowed for all parties to pay for their representation at closing, and not directly out of their pockets.

✅ This “news” is a moving target and has not been full settled or approved yet, and a few months ago, it was released in the media that “Sellers no longer had to pay Buyers Agents” - what it didn’t state, specifically, is that if Sellers no longer *had* to pay Buyers Agents, then that would decrease that listing brokerages were paid per transaction.

✅ The push back on this is that, if Seller believes that they pay for “everything” and now choose to not pay the listing brokerage enough to cover the Buyers Agent, then MANY Buyers (including VA Buyers) will not be able to use a Buyers Agent in the the process of buying a home.

✅ The thought of a buyer purchasing one of the largest (if not the largest) purchases in their life without representation to help them through the process honestly scares the sh*t out of me.

✅ Imagine sorting through all of the available homes on the market, working with buyers lender, scheduling all of the showings, gaining accountable access to all the homes, running comps to come up with a strategic offer price, negotiating to an accepted deal, helping with title companies, escrow deposits, scheduling and attending inspections, getting all disclosures from the listing agent, helping decipher through an inspection report, negotiating repairs all within contractual deadlines, appraisals & appraisal gaps, and in the case of a buyer wanting to cancel, handling everything including escrow disputes, etc (and this is only a glimpse of what Buyers Agents do for their clients).

✅ Now imagine doing all of this 👆🏼 for yourself in addition to your normal full-time job, family, kids, etc

I am concerned about my industry of 21 years, but I believe that things will balance out - as an industry, we will figure out how to navigate this. As my friends and family, you all are my people, you know me and how I work - you’ve written and read my reviews of how I do my very best to protect my clients, both Buyers and Sellers, every step of the way - and none of this will change that! I got you!

In the meantime, I genuinely worry for the Sellers and Buyers in the next couple years who will look at this headline and think they will be okay without a licensed Realtor, or think that they won’t be able to afford to pay for a Buyers Agent because they are being told that if the Seller doesn’t agree to compensate Buyers Agent at closing (again, from the proceeds the Buyer will bring to the table) then they will have to pay for their Agent out of pocket - which is unfair to the Buyers (and particularly unfair to first-time and VA Buyers).

I am not saying that there haven’t been some successful transactions between a buyer & seller without Realtors involved. There have been. I would also venture to guess that in some of those situations, something wasn’t done per contract and one or both parties may have violated some part of the agreement without realizing it - and the potential risk of that is not worth not using an agent, in my opinion.

I can only imagine the plethora of lawsuits that will be flying around in the next few years.

Written by Tabi

Thank you Tony Zerwas for posting this.

There are tons of Reels where a realtor suggests during the home buying process that the buyer reach out to 2-3 different lenders and shop around during the home buying process. Then, they recommended getting a fee sheet from one lender and bringing it to another lender and having them 'compete' with each other to lower fees and rates.

First of all, I'm all about shopping. That's why I am a mortgage broker. I do the shopping so the client doesn't have to. I've got 100+ lenders to shop around with.

Second, a fee sheet means absolutely nothing. You can put literally any number in there and send it off (See the attached example). If one LO isn't being honest, they can put misleading information in there in an attempt to win the deal. I see people do this all the time. See the attached fee worksheet. It's a fake one. Obviously none of that information is realistic, but hey, it's in there right?

Third, if someone encourages a race to the bottom, chances are I don't want to partner with them. I'm all about saving my clients money, again that's why I am in the broker business, but I would never pit one realtor against the other to lower their commissions to win a client, so I would hope the same respect could be shown to my team. And for the broker's out there racing to the bottom, be careful what you wish for. Over promising leads to under delivering, and this industry is a marathon not a sprint.

‼️ATTENTION Broker and Homebuyer Advocates! 📣

Rep. Ritchie Torres (D-NY) and Rep. John Rose (R-TN) have introduced a new Trigger Lead reformation bill to Congress, H.R. 7297: The Homebuyers Privacy Protection Act.

https://www.votervoice.net/BAC/campaigns/111490/respond

This is a completely new bill, so for those of you who have taken action already on previous bills H.R. 4198 and S. 3502, we need your voice once again to send letters of support to your legislators. We've made incredible traction through our nearly year-long campaign supporting the previous version of this bill in H.R. 4198. This is the new bill's most vital time, and needs our community's strongest efforts to support and pass H.R. 7297 into law.

H.R. 7297 prevents the abuse of Trigger Leads, but also makes important exceptions. The exception applies to the current mortgage servicer, the current mortgage originator, and the bank at which the consumer has an active banking relationship. This is important for originators, and vital for mortgage servicing companies. Without this carve-out, a total ban on Trigger Leads would drop the value of the mortgage as a commodity, a cost that would be passed to originators and our borrowers. It's paramount that we come together to take actions to push H.R. 7297 across the finish line.

Special thanks to Representatives Torres and Rose, for their commitment to protecting our homebuyers' privacy by preventing the misuse of Trigger Leads.

H.R. 7297: Homebuyers Privacy Protection Act A new & improved Trigger Lead reformation bill has been introduced to the House by Rep. Ritchie Torres (D-NY) and Rep. John Rose (R-TN): H.R. 7297: Homebuyers Privacy Protection Act  This is a completely new bill, so for those of you...

Fun fact of the day-
It’s not pronounced Kel-See, it’s pronounced Kels

Veterans - want to know how banks look at self employment income on VA loans??

VA Loans For Self Employed Borrowers 🎥 Join us every Tuesday night for an enlightening journey into the world of VA loans and the incredible benefits available to our beloved veterans.💡 From t...

All I want for Christmas … is more clients that respond to spam like this:

Great news for Veterans closing on homes in 2024!

VA recognizes FHFA Limits for 2024: Exciting News for Veterans Hey team! I have some awesome news to share with you. The VA has officially recognized the 2024 FHFA County loan limits, which means we can now use these limits to calculate second tier or bonus entitlement for veterans in 2024 closings. This is a big deal because it gives veterans extra buying powe...

Hawaii Realtors and Buyers!
New FHA limits are out. This is for the FHA (3.5% down payment) loan option. And remember, FHA loans allow rental income from ADUs to help a buyer qualify for more, with the SAME down payment!

Realtors, would a property report card like below be beneficial to your listing appointments or existing clients? I can produce this quick and at no cost for you if you think it would be beneficial. Let me know!

Kira and I have helped a lot of families this year secure home ownership, stability in their housing expenses, and peace of mind that no landlord can kick them out or jack up their rent. Thank you to everyone that trusted us with this important journey and part of your life. We can’t wait to serve you.
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These are the adjustments everyone is talking about, I’ve put this on a heat map so you can see what is changing. The values are CHANGES, not the actual price. Yellow is more or less remaining the same.

I’m going to be moving this account into a more passive status. Please follow for business, or .maddox for my personal page.
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Happy New Year!

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