Joseph Lai's (jlailv) Blog

Mortgage and Lending - Primary Residential Mortgage
Las Vegas Realtors, if you can attend, this is going to be a great event   We will be featuring Abel Fergoso from WFHM and Jason Eberstein from Fannie Mae    
Will a revised HARP program really work for us here in Las Vegas? Will it work Nationwide in CA, FL, AZ, etc... Lets look at the numbers (basic scenario)...   Lets say an average house right now has a mortgage balance of $200k, and their rate is 5.875%. Thus their principle and interest payment i...
Hoping someone can help me out... why does Fannie Mae go "postal" and pull all seller contributions and any agent bonus if a deal closes 1 day late? Yes, I understand a contract is a contract and we should close on the day stipulated. Yes, I understand a potential asset manager bonus is on the li...
What works for you? A 1-800 number? QR Code? Voicepad? Text system? I recently ran across a great text system that over comes a lot of the flaws of the systems above. If you haven't checked out , you are missing out on a great tool to capture buyers and leads for your team. Sikku (s...
Maybe it was the way I was brought up, maybe I am just not a loud person, but I never understood the screaming customer, or the point of screaming at someone. Real estate professionals (Realtor and Lender) are probably second to only service industry people when ranking professions that get yelle...
It seems like there are hundreds of Real Estate Associations out there these days... AREAA, NAHREP, NAREB, WCR, WINDS, NRBA, REOMAC, NAMB etc... and the list goes on. How do you determine which one to join? Is it worth the cost? What is the value proposition? From a lender's perspective, I fine t...
Previously I had wrote that miscellaneous deposits were a huge pain in the butt for lenders. A close second pain in the butt are disputed trade lines on a buyer's credit report.  A disputed trade line occurs when the consumer is challenging the payment history, balance, or information being repor...
Disclaimer: I have no affiliation with Own America (Greg even discontinued my email drip campaign to him :( , but I still like what his company provides to agents )   Many agents claim they work with investors, but if I asked 10 agents what separates you from your peers when working with investor...
In our Las Vegas Market everyone automatically defers to FHA because of the low down payment, low interest rate, and it is the most commonly known loan. Many are forgetting on Fannie Mae properties that many of the Fannie properties are Homepath eligible (check for eligibility). ...
I still can't figure out why every short sale listing agent isn't using a loan officer to pre-qualify all offers that come in on their listing. I am sure several listing agents will give me their reason why they don't, but here are my reasons why... hopefully I convince one listing agent to start...

Joseph Lai

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