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4 Steps to Become a Power Player

My fellow real estate partners The Power Is Now!   Welcome to July!  We are at the half way point of the year.    It is not too late to achieve our goals if you are concerned. We can all get back on track if we are not where we thought we would be so far this year.    Now is the time to reset, re-adjust, re-imagine, and rethink.  Now is the time to realign, refocus and recharge. The Power Is Now to get pumped up and envision the great things we will accomplish by 12/31/2013.    Napoleon Hill said “Success comes to those who become success conscious. Failure comes to those who indifferently allow themselves to become failure conscious.”    This is not the time to give up, but it is the time to be conscious about the success you want in your life. The Power Is Now to set and achieve production goals higher than we originally planned. The Power Is Now to redouble our efforts, to work smarter and to get the assistance we need.    The Power Is Now to take what the market is giving
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The Power Is Now Features Ivan Choi, the 10th Incoming National Chairman of AREAA

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Riverside, California (September 1, 2013) - On September 3 rd The Power Is   Now Online Radio featured speaker is Ivan Choi, the 10 th incoming National Chairman of AREAA. Choi is also speaking at the AREAA National Conference 10 Year Anniversary. The Asian Real Estate Association of America (AREAA) is a trade association of 13,000 members that represents the Asian real estate market nationwide. The Theme of the AREAA National Conference 10 Year Anniversary for 2013 is “The Future Is Now”. Ivan Choi is the incoming National Chairman of AREAA and the former head of Affinity Partnerships for WCS Lending, LLC, in Irvine, Calif. He has worked at the executive level with Matt Martin Real Estate Management, Prospect Mortgage, Bank of America and Countrywide Home Loans’ prime retail unit. Right now, he serves as a national board member and 2013 Vice Chairman of the Asian Real Estate Association of America. His 16 years of experience includes retail loan production, operations, se
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How Lender-Mandated Credit Overlays Undermine the Mission of the GSEs

Imagine that you're a borrower with a credit score of 580 or worst yet no credit at all.  You have what the Lenders call alternative credit (rent, utilities, cable & phone bill and etc.).  You are employed with a qualified debt to income ratio and have saved a down payment of at least 3.5% and maybe some of your closing cost. On paper, you seem like a perfect candidate for an FHA loan. However, your lender denies your loan application because of your low FICO score or because you do not have a FICO score.  Even though you have met the U.S. government's requirements for getting an FHA loan, your lender declines to approve your loan because of their credit overlays.  This scenario is being played out every single day at all the major banks, credit unions and many mortgage banks.  Who is in charge of the guidelines and parameters by which banks can lend?  Are the additional credit requirements legal or discriminatory based on federal law?  I believe that credit overlays are
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