Mortgage Insights by Andrew Clemente

Whats truly amazing is that once you work your way up to the higher ranks of BULK REO you are introduced to the most interesting investors.  These investors have an appetite for making money.  Several colleagues of mine in BULK REO have been working some time with establishing relations and formu...

The truth is BULK REO does exist! For most it is like trying to find a needle in a haystack. What makes it difficult when you are really doing it is to establish trust. Many true investor have been lead down the road nowhere.  Most of the actual sellers are clearinghouses because the banks do not...

Sample Example Letter of Intent (LOI) Components LOI Components.  These are the components we highly recommend a buyer use to communicate their order in detail to the REO Seller.  Dollar Order Amount.  Example $USD 20 Million. Offering Price.  Based on availability and order amount Buyer offers t...

Sample Example Letter of Intent (LOI) Components LOI Components.  These are the components we highly recommend a buyer use to communicate their order in detail to the REO Seller.  Dollar Order Amount.  Example $USD 20 Million. Offering Price.  Based on availability and order amount Buyer offers t...

I have posted a few blogs and I have come up with a great idea!   I am likely foolish for posting this and I am likely not the first to think of it.   Many of you can agree the Foreclosures especially in areas like Sacramento, Riverside, Las Vegas, and Florida to name a few are increasing drastic...

I wrote an article regarding BULK REO SALES ( http://activerain.com/blogsview/344381/NO-BULK-REO-SALES) and the rest is history.   With the BULK SALES You find four types.  People with money, People who know people with money, REO SELLERS, and People who know REO SELLERS. For awhile I just knew p...

Just wanted to drop a line with regards to my research since this all began in July 2007.   As many of you have seen I was/am a Mortgage Broker.  Back around May 2007 I started noticing the trend with regards to Direct Lenders vs. Mortgage Brokers.  The lenders were looking to minimize costs, man...

After careful consideration of my career path I made a decision to leave Countrywide.  Not because of any rocky roads ahead, we are all in this together.  Not because of the company or team I was with.  They were great!  And not because BofA bought Countrywide. Coincidentally I planned to resign ...

Between Active rain and a few other sources I get many requests for help to find an agent or even get people approved.  I wish I had the the time help everyone that asks find an agent.  Unfortunately Countrywide will not let me work with Realtors that are not local with me on the REO side.  CW wa...

An Account Rep. send me this link.  I took the time to read through the proposed BILL and while some clear points on reform are made I do believe without a more careful structure this bill will be harmful to independent mortgage brokers.   The industry has taken it's toll on the mortgage broker. ...