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Deerfield Beach, FL (PRWEB) February 13, 2012
Within the next few months, HARP 2.0 is expected to create a huge wake in the mortgage market. HARP was designed to bring relief to borrowers who are locked in high interest rate loans and unable to refinance due to lack of equity, but have good credit and have not made any late payments. Titan List & Mailing Services Inc., a leading advertising firm in the mortgage industry, discusses the impact of HARP on the housing market and economy.
The first version of HARP implemented in 2009 was designed to help over 5 million underwater homeowners, but proved unobtainable to the majority, due to the stipulation that the borrower needed to have a LTV (loan to value) ratio between 80 to 125 percent. HARP 2.0 has been remodeled to virtually eliminate the LTV stipulation, with the primary requirements being a good credit history and no late payments. HARP 2.0 was launched on December 1, 2011, and there are now over 11 million households underwater that may take advantage of this program.
According to Titan List & Mailing Services, Inc., homeowners previously unable to refinance, should have very high response and conversion rates to direct mail and targeted marketing campaigns for the new HARP program. ?Loan officers may be hesitant to sink marketing dollars into a HARP direct mail campaign due to the majority of borrowers that didn?t meet the LTV ratio of the first version of HARP. HARP 2.0 has virtually eliminated the LTV requirements. Using the right data list, qualified borrowers with good credit and no late payments can be targeted, which not only meet the requirements for HARP 2.0, but are begging to refinance to a lower rate. In addition, we leverage proprietary selects that use educated modeling to identify prospects with the highest likelihood of conversion. HARP 2.0 has the potential to revive the housing recession and become the next great re-fi boom of this generation,? says Jared Braverman, Director of Marketing at Titan List & Mailing Services.
Although HARP 2.0 was launched on December 1, 2011, the majority of applicants won?t be eligible until March, 2012. From December until March, only applicants with LTV ratios less than 125% will be eligible. After March, anyone with a Fannie Mae or Freddie Mac loan with good credit and no late payments will be eligible. The flood gates will be open to loan officers armed with the best marketing strategies. HARP 2.0 has the opportunity to bring relief to millions of homeowners that have been struggling with high interest rates, and revive the stagnant housing economy that has struggled with high interest rates since the financial meltdown coined as the ?Great Recession? of the late 2000s.
About Titan List & Mailing Services, Inc.
Titan List is a full service Advertising and Design agency specializing in Direct Mail, Internet Marketing, Search Engine Optimization and Website / Graphic Design. Titan List has been around since 1998, and has a team of highly qualified individuals with experience in the marketing trends that fit your business. Unlike other agencies that source their work out, Titan List & Mailing handles the entire campaign in-house – Data Lists, Design, Printing, Mailing, and Postage.
http://www.TitanLists.com | 800.544.8060.
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Category : Mortgage
Horsham, PA (PRWEB) September 19, 2011
Home Buying Evolution, a company that serves as an intermediary to match in-market home buyers with licensed Realtors, has announced its introductory phase for creating a database of area Realtors interested in taking part in a new referral program.
Home Buying Evolution, and sister company Nucazza, LP, are working together to create opportunities for Realtors willing to offer home buying clients alternative compensation real estate agreements as an alternative to more traditional commission-based real estate agreements.
Alternative compensation agreements are based on creating added value for home buyers by eliminating the commission payment that is traditionally paid to the real estate agents who help them buy a home.
As Home Buying Evolution CE0 Glenn Freezman puts it “The theory is simple. The home buyer pays for all the services provided by his or her agent as the services are rendered. The buyer and the agent agree on a contracted price. By the time settlement occurs, the Realtor is paid in full for all the work provided, just like any other contracted professional agreement such as an attorney, a doctor or even a plumber.
?Because the buyer?s agent has already been paid for their services in full, the money that is traditionally earmarked as a commission payment for that agent is then returned to the home buyer in the form of a rebate or a reduction on the overall cost of the home. The result is that agents get paid for their time when services are rendered and not based on a contingency plan and home buyers now have an option of buying just the home buying support and services that they need while also having the potential to save thousands of dollars on the purchase of their home. It’s a win-win situation for both sides.?
A recent marketing partnership with Citibank will help home buyers cover upfront costs by offering a credit card with the necessary balance needed to pay for the services of the buyer?s agent upfront and therefore alleviate the issue of requiring that buyers have cash on hand to prepay for their agent?s services.
Freezman points out that not only does this eliminate a huge bottleneck for many buyers but also creates a new relationship between home buyers and their agents. ?Because traditional commission models only pay the agent when the home sale is complete, many Realtors waste time and money working with clients who will never make it to the closing table. Not only does this mean that the realtors are taking on all the risk of the home being bought, but also puts them in an unenviable position of having to constantly push the home buyers toward the closing table.?
?By being paid for the work they do when they do it, Realtors no longer need to focus on getting their clients to the closing table in order to get paid for their time and services. They also eliminate the risk they traditionally take on because the onus for buying the house now sits squarely on the shoulders of the home buyers. Also, the Realtor?s services become part of the real estate process and not part of the home sale which allows them to step out of ?salesperson? mode and to instead serve more as an advisor or consultant to help assure that their clients get the best deal possible.?
Home Buying Evolution’s initial goals are to create a realtor database that they can use to provide in market home buyers access to buyers agents who understand alternative compensation models and you’re willing to work with them on a pre-paid service model in exchange for a commission payment rebate.
Pennsylvania and New Jersey licensed Realtors interested in learning more about how they can get their information added to the home buying evolution database for free, should visit http://www.homebuyingevolution.com or call Glenn Freezman at (855) 682-2992.
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Category : Home Buying
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