BiggerPockets

It started more than 25 years ago when I took my brother’s advice to get my real estate brokers license in order to use my commission to purchase my first house. From there I became a REALTOR® selling and listing real estate. My interests in computing and programming lead me away from selling and into supporting other Realtors with ACT software and small PC networks. When the company I was working for went under, my mentors suggested I look into becoming a home mortgage professional. That was my calling. Insuring smooth transactions by caring for the most important aspect of a real estate deal (the Money) fit me. Now after 17 years of working with some of the best companies Chase, Norwest/ Wells Fargo, I am working to give to both my Realtor and Lender friends what they need most; something that can bring back confidence in home mortgage financing. We call it a “LoanCheck”.

#1. Successfully introduce a new service to the real estate community – mortgage preapproval verifications or a “LoanCheck” for short. The validity of preapproval letters is often in question, and the harm from blindly trusting one can negatively affect all the parties involved. #2 goal: Bring a new Balance to the Transaction. Buyers use home inspections often to reopen negotiations – a balance would be if a Seller had an independent report on the likelihood the Buyer’s financing would come through, then renegotiating would be fair and balanced if the Seller could reasonably ask for a “locked rate”, approved appraisal and “live underwriting”, in exchange for escrowing the funds for a new furnace and water heater for example. #3 goal: Create the single largest depository of verified business credentials of mortgage professionals. It would give free access to anyone interested in learning the professional background on the person contacting the largest financial obligation in ones life. As soon as we are profitable I want to be able to donate to Habitat for the Humanities because I feel it is the best focused charity in housing.

LoanCheck Advocates. These are people who recognize the great value that can come from establishing greater confidence and transparency in mortgage lending. The website is in an Alpha testing stage, but we are signing up Realtors® who want to be able to offer Seller’s LoanChecks from day one and accepting applications from lenders who are leaders in their profession and are proud of their professional credentials. We are also looking to raise new capital to hire the tens of new employees needed before we go live nationally. If you are someone or know someone who could help contact me.