Katy Area Chamber’s Post

In the journey of achieving dreams and reaching new heights, it’s the unwavering belief in the unseen and the steadfast hope in the future that become the wind beneath our wings. It’s this relentless optimism that fuels our pursuit of excellence, allowing us to traverse uncharted territories with confidence and resilience. At Layton Mortgage, we embrace this spirit of positive anticipation, fostering an environment where every aspiration is nurtured, and every ambition is given the wings to soar. We believe that it’s the collective hope and shared confidence that transform possibilities into realities, enabling us to overcome obstacles and redefine boundaries. To our valued clients, we extend our commitment to be your beacon of hope and your pillar of confidence in your journey to homeownership. We strive to be the guiding light, illuminating your path with knowledge, integrity, and unparalleled service, ensuring that every step you take is grounded in trust and assurance. To our esteemed loan officers and future team members, we offer a sanctuary of growth and a playground of opportunities. We empower you to embrace your potential, to learn, to innovate, and to lead. We instill in you the confidence to be the architects of change and the harbingers of progress, shaping the future of the mortgage industry with your vision and passion. Let’s embark on this journey of boundless optimism and unwavering faith together. Let’s build a future where every achievement is a testament to our shared belief and every success is a celebration of our collective confidence. Let’s be the bearers of hope, the carriers of confidence, and the creators of a legacy of achievement. Loan officers please reach out for more information on Layton Mortgage and how we are impacting lives and changing the mortgage world one loan at a time. #BoundlessOptimism #Achievement #Hope #Confidence #FaithInFuture #LaytonMortgage #Empowerment #Innovation #Integrity #ClientTrust #CareerGrowth #VisionaryLeadership #IndustryTransformation #UnwaveringFaith #SharedBelief Loan Officers in Texas, Florida, and California we invite you to discover more about our innovative program and explore the opportunities that await you at Layton Mortgage. Dive into the details and see how you can elevate your career with us! 👉 https://lnkd.in/gbapU6Fe

🔔 Breaking news in the mortgage industry! Freddie Mac announces major executive changes and industry insights. Talk about a shake-up! In March, David Brickman, with over 25 years in the mortgage world, steps in as CEO. 📅 This follows Sam Khater's interim leadership since December 2021. Big shoes to fill and even bigger plans ahead. But that's not all... In February, Michael Hutchins was named Executive VP and Chief Risk Officer, while Michael Stewart stepped up as Executive VP and Chief Financial Officer. Both reporting directly to the new CEO, it's clear Freddie Mac is gearing up for some strategic moves. 🚀 Industry insights from Brickman himself: In January, he discussed how COVID-19, non-QM lending, and the need for clearer regulations are shaping the future of the mortgage market. Wise words from a seasoned pro. 📈 And, let's not forget about leadership at the board level... In December, Anthony S. Santomero, former president of the Federal Reserve Bank of Philadelphia, was elected as the new chair of Freddie Mac's Board of Directors. He takes over from Donald Layton, who served with distinction since 2018. Ending 2021 on a high note, Freddie Mac reported an impressive $8.4 billion in net income and disbursed $4.4 billion in dividends to shareholders. 💸 A testament to strong financial management and forward-thinking strategies. What does this mean for the future of the mortgage industry? Let's discuss in the comments! #MortgageIndustry #ExecutiveChanges #FreddieMac #Leadership #FinancialResults #RealEstate #COVID19Impact #Regulations #MortgageMarket #DavidBrickman #AnthonySantomero #MichaelHutchins #MichaelStewart #IndustryInsights #BusinessNews

This is the story of how I narrowly avoided a complete financial disaster. In late 2021, I sold some residential properties and had about $500k to place. I was looking for a value-add commercial deal, and I settled on buying a retail property leased to Rite-Aid in Vermillion, Ohio - pictured below. The lease had 2 years remaining, and I had it under contract at an 8 cap, about $2m. My plan was to sign Rite-Aid to a long-term extension, thus adding a bunch of value to the property. Unfortunately, my hopes and plans were not in touch with reality. I contacted at least 25 different lenders, and nobody would lend on the deal at terms that made sense. Their concern was obvious: What if Rite-Aid vacated at the end of their lease? I would then be stuck with a vacant 10k sq. ft retail property, a large mortgage, and no tenant. I walked away from the deal because I couldn't get financing. While I was embarrassed at the time, I now know that this was the single most important deal I never did. Earlier this month, Rite-Aid filed for bankruptcy. Even if this particular store in Ohio does not close in the short-term, Rite-Aid will have the ability to re-negotiate leases, which will almost certainly reduce the amount of rent they pay. And there is virtually zero chance they will extend their lease at this store beyond its current expiration. It would have been a complete financial disaster for me. I made at least 150 mistakes while pursuing this deal - feel free to list them off in the comments! 😁 Here are my three biggest takeaways from this failed (but very educational) deal: 1️⃣ The tenant is crucial. Rite Aid is a national tenant, but at the time of this potential purchase, Rite Aid had an S&P rating BBB-, meaning a changing of economic conditions could prevent the company from meeting its financial commitments. A Rite Aid bankruptcy was not a surprise, but I chose to ignore the warning signs. 2️⃣ If lenders won't lend, pay attention. If I can't get lending for a deal, I should be on high alert. Lenders want to protect themselves and me from default. If it's difficult to get lending for a purchase, I better be incredibly confident in my business plan and have multiple strategies to reduce risk. 3️⃣ The property and location matter. A drug store building in a small town has very few "other" uses as-is. If it's not a drug store, what else could it be? There are a few options (like a dollar store) but not many. Having a highly specialized property in a small town is quite risky. ----------------------------------------------------------------------------- This story is an excerpt from my newsletter that came out on Friday, October 20th. Every Friday, my subscribers receive a newsletter written by me with deal updates, opportunities, CRE stories and recommendations, and random tidbits about my life.

Exciting news to see Ohio-based Go Mortgage and Katie Chikonde reaching a settlement through court-ordered mediation. Chikonde has done an incredible job as the former capital markets head, and this settlement definitely marks a positive turn for both parties involved. As we move forward, I predict that we'll see even more success and growth for Go Mortgage under new leadership. • It's always promising to see companies and individuals finding common ground and resolving disputes in an amicable way, showcasing professionalism and maturity. • With this settlement in place, I anticipate that Go Mortgage will be able to focus on its core operations and continue to thrive in the industry. • Settlements like this often signify a fresh start and a renewed commitment to moving forward in a positive direction, which can be beneficial for all parties involved. • I have no doubt that Katie Chikonde will use this experience as a learning opportunity and come back even stronger in her career journey. • Overall, this settlement sets a positive tone for the future of Go Mortgage and highlights the importance of communication and conflict resolution in business relationships.

Are you a real estate top team or owner of a real estate company? Do you believe you can direct one million a month or more of loans? If you answered yes, you may be the perfect candidate for PRMG's Real Estate Partner program. You do not need an NMLS registration/license. You will get paid per closing. We're in 49 states plus the District of Columbia. You will gain control over the loan process like you've never enjoyed before and benefit from previously unrealized earnings. Get paid on refinances. Get paid on loan closings you're not personally involved with. You will receive massive support and remain focused solely on business development just like you're currently doing. This is Fannie, Freddie, HUD, and RESPA compliant. We rolled this program out three weeks ago and already have a half dozen professionals joining us with pro forma's ranging from $60K to almost $600k annualized. How many more leads could you acquire? Which staff person would you hire next? How will you use this new control and additional financial resources to recruit new teammates? Call me and let's have a confidential discussion about our unique national program. At a minimum, you don't want to find yourself on the outside looking in as what is rare today, will be prolific tomorrow and tomorrow is coming faster than you realize. The business is changing and as always, we're leading the way. Alex cell: 909-494-5331

#HighFiveFriday #BAM These are my 5️⃣ favorite posts from folks in the mortgage biz this week (12/9-12/15). First, John Birke nails a trend with a really funny “We’re Loan Officers, we _______.” This one had me laughing 😂. What would you add to the list? Share in the Comments. https://lnkd.in/gAP2385t Second, Shane Kidwell shares a story about the future. A young man, 18 years old, heard him speak one time, and he took the initiative to reach out and ask questions about how to be successful. Something tells me this young fella is going to do awesome things in the future. Thanks for sharing Shane and awesome that you took the time to mentor. https://lnkd.in/gmtqF_zA Third, Cooper Skelton shares a story of a terrible recruiting experience. Let’s file this one away in the “what not to do when you’re recruiting someone” file. Thanks for sharing Cooper, I hope the post and the Comments, have helped some be better. https://lnkd.in/gRga8jMH Fourth, David Gonzalez shares an interesting take on Branch Manager comp structures and proposes a potential change that he feels would encourage more team building and help the BM be less focused on their personal production. Jump in his Comments and share your thoughts. https://lnkd.in/ge2rdwMv And finally, Larry W Gunnin shares a story about how Lenders used to invest in their LO’s in the past and the metamorphosis that has taken place over time. It’s an interesting take on loyalty being a two way street and begs the question of what could be done differently? Check it out and add your two cents. Good conversation happening over there. https://lnkd.in/gp4zzv_r

The Importance of Closing Doors I recently informed a GP that an equity partner who had previously expressed some interest in their BTR deal decided to pass. His response was encouraging: “I was just thinking to give you a buzz. Thank you for closing the loop. Let’s keep trying, we’ll get something done soon.” This response makes me more inclined to work with him, and based on his response it seems he feels the same way about me reaching out to him with the update. If I would have just ghosted him or waited till he reached out to me, it would not have been nice, but it’s also not a recipe for long term connection. I find that often people avoid sharing negative news, preferring to steer clear of uncomfortable conversations. I understand that sentiment—I sometimes feel the same way about looking at my bills. However, unlike with my electric company which I don’t need to build a strong relationship with, I aim to build strong long-term relationships in my professional life. For a relationship to grow, vulnerability must be expressed as well as received on a human level. Of course if someone has overpromised and underdelivered that is a different story and is the opposite of building relationships with vulnerability and humility. I believe this is important for lenders, brokers, owners, equity partners, and really anyone you want to grow with. At Greystone, we have excellent financing platforms for projects eligible for Fannie Mae, Freddie Mac, HUD, CMBS, or bridge loans. Our equity platform is also strong. If I can provide value, I’ll give you quick feedback. If not, we’ll let you know and not waste your time. Delivering hard news that you can't help with a specific transaction will ultimately strengthen your relationships with the right partners in the long run.

Happy Hump Day LI Friends! How has your Q4 started off? Is your current lender providing you the right tools to grow your business? Union Home Mortgage Corp. has so many great qualities. Area Managers, Branch Managers and Loan Officers, I'd love to share why teams from across the nation are partnering with us and why our partners are GROWING & SUCCEEDING!! •Profitability and Stability – UHM will do MORE production in 2023 than 2022. Not too many companies can say that in this market! •$22 billion servicing portfolio with servicing done all IN-HOUSE – NO •sub-servicer. Very well capitalized. •IN-HOUSE Construction to Perm 1x close program – Stick built, Modular, Manufactured / Conv., FHA, VA & USDA. •Waterfall pricing model. You quote, you win – never lose a deal! •Doubling down on growth – internal recruiting teams to keep you growing + an in-house coaching program (PCP). •Full product menu – Including Non-QM, DSCR, etc.. •Competitive Jumbo and High Balance pricing. •Income Desk – Income reviewed, locked and certified prior to contract. Keeps your buyers and agents assured of loan approval. •60% of our loans are 1-Touch files! Amazing OP’s team to get your loans to the finish line quickly = happy customers! 

No Fanny, no Freddie, no FHA, no USDA, no VA! 🚫 We're talking about a $27 billion powerhouse of a hedge fund that's been shaping the mortgage landscape for a decade now. With seven and a half years of firsthand experience, Chris got the inside scoop on their game-changing approach. Picture this: he's closing a jaw-dropping half a billion dollars' worth of loans every month – that's a whopping $500 million! 🤯 But here's the kicker – a staggering 50% of these loans don't even conform to their own guidelines. So, where's the magic, you ask? 🎩✨ The real treasure lies in the ability to weave a financial masterpiece from seemingly blank canvases. But wait, there's more! Hold onto your hats as Chris venture into what some folks dub the "sexiest product" in mortgages. 🕶️🌟 Chris thinks it's the silliest name ever, but that's beside the point. Get ready to have your mind blown by the MOST BULLETPROOF LOAN in the mortgage universe. 💥💼 Chris is the #1 Account Executive in the nation, north of South Florida. He has been for the last 20 years closed over 100 loans a month several times. Think about that for a second, out of little ol’ Charleston, Chris is doing more units each month than people in cities like New York, L.A., Dallas, Chicago – from a state with a population of only 5 million people. He must be doing something very right! So, stay tuned for the grand reveal, where the secrets of mortgage alchemy will be unlocked before your eyes #LegacyBuilding #RealEstateEducation #FinancialLiteracy #RealEstateSuccess #WealthBuilding #NonQMLending #DSCRLoans #LegacyCreation #ChrisBarker #ExitStrategiesRadio #EmpowerYourLegacy #PropertyInvestment #FinancialFreedom #MortgageSolutions #InvestmentStrategies

Well we all know what today is….. Sunday is my Monday. Actually today is more like a Tuesday because we were at it yesterday. Lots going on. We’ve been identifying regional commercial mortgage lenders for Florida, DC and Hawaii. We’ve been putting some finishing touches in a large revolver but still ironing out the wrinkles. Been somewhat busy on the MCA space. Which by the way is great way to cash up quickly, not cheap but super effective. Been noodling around in the PO space for a deal that seems to be coming our way. The equipment side has come up a few times this week as well. We’ve met some more great people and look forward to seeing what we can accomplish together. I did receive a lovely gift from one of my clients and I always appreciate that. We didn’t get his deal but we did offer a hell of a term sheet. We look forward to serving him in the future. We did trip over a great lending opportunity in the 20-50mm space that includes the typical lending assets but they also offer up loans on the higher quality Private Equity paper. So if you find yourself looking for loans there drop me note and I’ll be happy to introduce. They’re rates are in the low teens or less depending on credit worthiness. Side bar……. When you’re looking for credit you have almost play the roll of you going to date someone’s daughter. Credit folks are very particular on how and who they lend there money to. So if your planning on adding credit to your stack just know ahead of time that the lenders are going to grill you. So be prepared to answer the tough questions and give honest realistic answers. Because if those two don’t jive you’ll find yourself hat in hand looking somewhere else. Other than that let’s have a bang up week, do good things, have fun and make money. If your have to fight for a deal, fight like the third monkey trying to get on the Arc !! All the best. TT