George Souto - FHA, CHFA, VA, USDA, & Fannie Mae Home Mortgage Loans, Connecticut

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Mortgage and Lending - George Souto NMLS #65149 FHA, CHFA, VA Mortgages - NMLS #65149

ARCHIVED BLOG POSTS

2006 

Last Friday a local Attorney was sentenced to 30 months in jail for defrauding at least a dozen of his clients.  I have chosen to write a blog about this is for four reasons, First, because I personally know this Attorney and his family. Second, because it involves Real Estate transactions Third...
10/31/2006
The computer problems over the weekend, even though they were caused by hardware failure, which AR did not have any control over, still reminded me of a term that my computer “Geek” buddies use all the time “ID ten T error”. The more I thought about the “ID ten T error”, the more I thought about ...
10/30/2006
Sunday is the day of the week that I take to just not listen to anything negative.  I try not to even listen to the news on TV on Sundays. We are bombarded with so much of the negative everyday because that is what attracts people to read the newspapers, and listen to TV broadcasts.  I particular...
10/28/2006
There have been some excellent blogs written over the last week about fraud in the Real Estate Industry.  Most of them have concentrated on how people in this industry have tried to “De-Fraud” the system.  But as we well know, fraudulent activity is not limited to the people who work in the Real ...
10/28/2006
  The third speaker at the CloseMore Seminar was Dale Vermillion.  The main issue that Dale spoke on was Interest Rates, and his message was “rate doesn’t matter”.  Yep you heard it right, “rate doesn’t matter”.  The problem is that most Loan Officers treat Interest Rates as if it is the only thi...
10/27/2006
The second speaker at the CloseMore seminar was Brad Kent.  Brad was very successful in the Mortgage Industry, but now concentrates on sharing marketing ideas that made him successful. Brad’s area of marketing expertise is “Direct Mail”.  Now I have never been a big fan of direct mail, mainly bec...
10/25/2006
Today I attended a seminar in Springfield, MA. sponsored by New Century Mortgage Corp. one of the Subprime Venders that we use.  It wasn’t about Subprime Lending, though I could have used the training, but about doing more business.  There were three speakers, all of them very good, and each cove...
10/24/2006
It is funny how quickly the market changes.  I have read blogs that predict that we are going to have hard times for a few years.  That might be so, most of the people warning about this have been in the business a lot longer than I have, and have probably seen it before.  I have not experience t...
10/23/2006
There are a lot of “Woodpeckers” in all phases of the Real Estate business who are trying to poke holes in our boat.  Those of us who are not “Woodpeckers” need to follow the sound example that is found in the story of Noah and his Ark.  Hopefully the “Woodpeckers” have not pecked holes in your b...
10/22/2006
OK, OK I am on a Shakespeare kick, but it goes to the heart of what I am writing about.  It is not unusual to hear the people in my office who have been involved in underwriting for years to say “that is not how it was in the old world”.  What they mean by that is how underwriting was done before...
10/21/2006