Stephen C. Olczak's (solczak) Blog

In order to best serve our clients, and remain lean and mean we must adjust in this challenging market. As a cost cutting and efficiency measure we are strategically reducing our overhead.We are down sizing our office!!  We have 1500 sq feet of fully furnished space.  We are looking for cash offe...

True to form, the powers that be continue to tighten lending parameters...even for our Canadian friends to the north:(In one month's time the generous offerings of one of our lenders have been slashed, cut and constrained to the point that...well, they just try to take all of the fun out of this ...

FREEMORTGAGECLINICSat. 11am-3pmSteve239-682-5434 Greetings to all,  I am starting this new group because I need leads!!!   I want to engage in discussion on how to market, structure, focus, and administer a successful clinic that will inform potential borrowers.Inviting other professionals such a...

Once venerable mortgage giant Washington Mutual, whimpers away from wholesale lending...slashes own staff (ouch!!).Yes, after almost one hundred and twenty years of providing mortgage and other financial products to a grateful public, the stalwart financial figure is showing its battle scars obta...

Canadian Nationals looking to purchase property in Sunny Florida have financing waiting for them!!  You can obtain 75% LTV purchase financing with little more than a:PULSEPASSPORTPENContact me directly and I will provide further details as part of a personal consultation that will address your fi...

Currently I am trying to close a purchase mortgage contingent on a grant from Genesis. I have never used Genesis to close a loan before, but would like to see this deal happen.Has anyone in the AR universe had experiences with Genesis? good or bad?I would appreciate any feedback!Thank you,  Steve...

Ben S. Bernanke and his Federal Reserve have proposed new mortgage lending guidelines.What They Say1.  Lenders must verify income and assets2.  Prepayment penalty restrictions 3.  Lenders must determine if borrowers can afford mortgage4.  Borrowers to be told how much broker is making5.  No more ...

After seeing 160 lenders hobbled or gone since the end of 2006...let's take a brief look at the industry.  Country Wide's stock price per share has dropped from a 52 week high of $45 per share to a low of $15 recently and has recovered to $19.Lenders have taken many stated and low and no doc prod...

Troubled mega lender Countrywide Home Loans has received a vote of confidence Wednesday.  Bank of America has invested Two Billion Dollars in convertible preferred securities of Countrywide Financial.This could help CW weather the storm currently raging in the mortgage industry.This move coupled ...

About twelve months ago, a loan originator in my office was so excited about placing an ad in the regional news paper's classified section,  she talked about it for days.  How many times should I run the ad?  How much of a discount will I get for multiple runs?  It has been getting slow, so I am ...