Open the DOOr
By Shirley Mueller
Senior mortgage originator
First Choice Loan Services Inc.
Dispel myths about the
VA loan program to win new clients
It’s an all too frequent occurrence: Veterans with a Federal Housing Administration or
conventional loan call looking to refinance to remove the mortgage insurance from their
loan. Perhaps years after their original home purchase, they are finally exploring their
options with a U.S. Department of Veterans Affairs (VA) home loan.
When asked why they didn’t get a VA mortgage initially, the answer, all too often, is
because their loan originator or Realtor never mentioned it as an option. Even worse, some
veterans are discouraged from using VA loan benefits because of less-than-legitimate
reasons such as “VA loans take too long to close” or “VA appraisers undervalue homes.”
Because of these pervasive myths, many veterans spend months or years making
unnecessary mortgage insurance payments.
18 | From the Editor
Summer open-house season is upon us.
20 | Featured Top Originator
Woodrow Roberts knows a thing or two about selling HELOCs.
22 | Q&A: Federal Housing Administration
HUD’s Bob Mulderig discusses the continuing strength of FHA
24 | News Roundup
Catch up on recent issues and trends in the mortgage industry.
28 | DataDecoded
The home-mortgage market is primed for purchase growth.
30 | Spotlight: Kansas
The Jayhawk State’s economy banks on the wild blue yonder.
32 | Commercial Highlights
Check out what’s happening in this month’s commercial
edition of Scotsman Guide.
162 | BackSpace
HELOC-reset woes may be more hype than harm.
Volume 24: Issue 7
35 | Open the Door to Veterans
Dispel myths about the VA loan program to win new clients
Shirley Mueller, First Choice Loan Services Inc.
50 | Managing the FHA Landscape
Servicing Federal Housing Administration loans requires
John Vella, Altisource Portfolio Solutions