April 2007 - Interest Notes

Southern Chapter Luncheon March 14 Features ways to help borrowers get to YES!

Tony Hernandez, Director of the Fannie Mae Colorado Business Partnership, shared insights about how to get to yes and close more loans with Fannie Mae’s “My Community Mortgage” product with about 60 mortgage industry professionals at the Colorado Springs DoubleTree Hotel March 14.

With mortgage rates rising and the refinance boom over, attracting new customers is a top priority. Mr. Hernandez cited statistics that show that the fastest growing homeownership rate in the nation is the Hispanic sector, those who are residing in the U.S. legally. “This demographic is strong here in Colorado, and it’s important to key in on where the growth is occurring, and be able to offer competitive and appropriate products for those growing segments of the population,” he said. “Fannie’s Mae’s goal is not only to get people in homes, but to keep them there,” he added.

Mr. Hernadez noted that My Community Mortgage’s low MI requirements, flexible financing options, and 40-year and interest-only options make it attractive. He also noted that, despite current trends in the industry, people who qualify still deserve the opportunity to own a home. “Someone will be there to offer them a product,” he noted. “Make sure you have the tools to have the right product - and be that person!”