October 21, 2025 • 16 mins
Bond yields slip under 4 percent as we track real-time rate pressure even through an AWS outage. We share three proven ways retirees can qualify for a new home, and why agents should vet lenders using NMLS to protect deals on both sides of the table.
Listen Now for More Great Info on the Following -
• asset dissipation underwriting for retirees
• starting retirement distributions to qualify
• child-buys-for-parent primary residence option
• protecting family equity from care costs
• why experience and licensing history matter
• how to vet lenders with NMLS Consumer Access
• second-opinion strategy to secure better terms
Look below in the comments for link mentioned in this episode and leave us a comment. If there's anything that you want us to cover or talk about, let us know!
Link mentioned by Nikki - https://www.nmlsconsumeraccess.org/?trk=organization_guest_main-feed-card_reshare-text
Now's The Time - no matter where you are, where you have been, or your current results - By becoming more aware and following a process, you can have whatever it is you truly desire!
Schedule a free discovery call with me.
I would love to learn more about your goals, dreams, and desires!!
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AGCoaching@agcoaching684
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_01 (00:37):
It is October 20th, and this is your weekly market
update.
Nikki, what's going on today?
SPEAKER_00 (00:44):
Good morning, everyone.
Happy Monday.
So news over the weekend, ofcourse, has to do with the AWS
shutdown or the issue thatthey're having with their
hosting of websites.
So apparently 40% of theinternet sites are hosted
through AWS in some sort ofcapacity.
So a lot of people areexperiencing some shutdown of
websites or partially workingwebsites.
From my standpoint, you know,I've got partially working
(01:06):
applications, I've got partiallyworking, you know, software
systems that, you know, arehaving some issues along the
way, but hopefully they'll beable to solve it soon.
We do know that even though mostof the reporting that happens
from a bond market standpoint ishosted through these websites,
we can go directly to theactual, you know, area where
this stuff gets posted and knowthat the bond market is actually
(01:29):
improving today.
So we just went under 4%, whichhasn't happened in a while.
We are at 3.98 as of thismorning, which is helping put
pressure on bringing thoseinterest rates down.
We also have at the end of themonth the looming Fed cut that
is pretty much 99% guaranteed tohappen at the end of this month,
with another cut coming inDecember.
So we have some good news fromthat standpoint.
It's a quick reminder (01:49):
even if the Fed does cut interest rates,
it isn't a direct correlation tomortgage interest rates being
cut.
However, they do fall along thesame kind of trajectory, if you
will.
So normally when Fed cutsinterest rates, that bond rate
will go down, which helpsmortgage interest rates come
down.
So a lot of things, good thingsstill happening through the end
of the year from an interestrate standpoint.
(02:10):
Right now we're in the lowsix-ish range.
The hope we can hit some fiveswith a little extra, little
extra fee, a little extra buydown.
But most of most people aregoing to be in between about six
and six and a half as of today.
So one of the things that hascome up in really immense
numbers over the past couple ofweeks, at least for me
personally from a mortgageapplication standpoint, is
(02:33):
clients who are transitioningfrom retirement or from their
jobs into retirement and wantingto make a move.
So, for example, a lot of timesI will have clients who say,
hey, I'm going to retire nextyear.
I want to come up with a planwhere I can retire and move to
Florida, or I can retire andmove Derek, or I can move back
to Minnesota to be with mygrandkids, or whatever that case
(02:55):
is.
So I have a lot of people intransition right now that are
nearing the end of the year,which is usually a retirement
timeframe.
And how do we successfully helpthem from working a full-time
40-hour week salary position toretirement and really figuring
all that out and how that'sgoing to work from a home
purchase standpoint?
So a couple of things that welook at.
(03:16):
When we look at somebody that'stransitioning from a full-time
job into retirement, what doestheir retirement situation look
like?
We know that they haven't set updraws on their retirement
income, or maybe they're justnot wanting to for a while.
Maybe they just want to live offof savings for a while.
Well, there's a couple keytransition pieces that we can do
from a mortgage standpoint thatcan help them with that
transition.
First and foremost, we can dowhat's called an asset
(03:38):
dissipation loan.
So what an asset dissipationloan does is it takes the full
amount of your assets and itdissipates them or it draws them
down over time to cover thebills and the new mortgage
amount.
These loans are pretty commonfor people who are transitioning
to retirement where maybe a bulkof their assets are held in
(03:59):
either in non-retirement fundsor they have kind of an even
split 50-50 between retirementfunds and assets.
And we can do what's called anasset dissipation and just draw
those funds down over time inorder to qualify for a mortgage
payment.
So that's kind of a very usefultool.
The other thing that we can dois we can have them set up a
(04:20):
monthly distribution from aretirement account that is going
to take place after retirementage.
So, in other words, let's justsay they're retiring in
December, they want to purchasea home in January, we say, okay,
no problem.
Set up a retirement distributionto call in a qualifying amount
for the mortgage and the loan,and then receive your first
(04:41):
distribution and we close on theloan.
What you do after that is up toyou, however that works.
But if we can set up a monthlydistribution to cover the
mortgage and qualify for theloan, then it write like they
receive their firstdistribution, we can close on
the loan two to three dayslater.
So it's really nice opportunityfor them to not have to have a
history of retirement income,but be able to still transition
(05:04):
into that retirement mode orinto that new home while they're
transitioning from a job intoretirement.
So those are two options.
The third option that we look atis a child buying a home for a
parent who is retired and cannotafford the home on their own.
The requirement for this is thatthey have to be of retirement
age and they have to beconsidered elderly, which
(05:25):
ironically is anyone that is ofretirement age.
So if you are a child and youcan say, okay, I can purchase
this home, but I want topurchase it for my aging parent,
you can do that and it's stillconsidered a primary residence
loan, 5% down payment, normaleveryday interest rates.
So those are three different bigopportunities that we can have
that can help people transitionfrom working full-time into
(05:48):
retirement without missing abeat.
SPEAKER_01 (05:50):
Oh, that's amazing.
Yes.
I love it.
Yes.
And I know we're working on oneright now.
We are.
I did not know that.
So I misinformed her.
But of course, I said you'regonna want to talk to Nikki
because she has all of the toolsand the resources and the
programs, and she'll know betterthan me.
And of course you do.
Yes.
SPEAKER_00 (06:09):
And the cool thing about the, you know, parent loan
or the aging parent loan is thatthe whole design of that loan is
really threefold.
Number one, it's designed sothat when you have an aging
parent and as they come on andage, if they need to go to
assisted living or nursing home,sometimes the assisted living or
nursing home can require theclient or require the parent to
(06:32):
draw on the equity of their homein order to supplement pain for
the nursing home for anythingthat Medicare and Medicaid don't
cover.
That can be a huge issue for,you know, parents who have
bought a home, have a ton ofequity, and that is their nest
egg.
That's what they need to liveoff of.
That's what they wanted to leaveto their children.
So this loan allows the child topurchase the home for the parent
(06:53):
as a primary residence and notand really not have to take that
home into consideration when itcomes to nursing home or
assisted living requirements.
The other cool thing is itallows us to put lower-down
payments on a home, which, youknow, can help with actual cash
flow that the aging parent couldor could not have.
And number three, the onlyrequirement is for us to state
(07:13):
that the aging parent can'tafford this home on their own.
We don't have to collect medicalrecords.
We don't have to collect incomeinformation from the aging
parent.
We just have to state thatreasonably this parent is aging
and they just simply can'tafford this loan on their own.
So that's really what thoserequirements are.
So it's a really useful toolthat we've used quite a few
times actually to help peopletransition into a different
(07:33):
moment in their lives.
unknown (07:35):
Yeah.
SPEAKER_01 (07:36):
No, it's absolutely there's so this just proves my
point.
I'm gonna say it again.
There are so many programs outthere.
And I've been talking to a lotof new agents that have been
joining me on coaching andmentoring.
It does matter who you partnerwith.
This is a perfect situation.
You are not going to get Nikki'sexpertise, her time, care, and
(08:00):
attention to your clients fromsomeone online, from just going
to like one of those onlinemortgage places.
Maybe you get it through aclick, or your client clicks it
through one of the ads orsomething.
I mean, they might get on thephone once or twice, but being
specialized in Minnesota, likeNikki is in many other states as
(08:21):
well, and staying up to date.
I mean, God, please do not gowith a lender who doesn't do
this full time.
Yes.
And on top of full time, youhave Nikki who's done this how
many years is it now?
Well, 26 now.
Yeah, that's what I thought.
Yes, I keep thinking again whenwe first started working
together, that number sticks inmy head, and I know it's been
(08:42):
years.
So 26 years.
SPEAKER_00 (08:44):
26 years.
SPEAKER_01 (08:45):
Yeah, yeah, it's so important, you guys.
Who knows?
SPEAKER_00 (08:48):
Maybe I'll get to use one of those retirement
loans one day, you never know.
SPEAKER_01 (08:53):
Yes, but yeah, no, I mean, and if you're getting
no's, or if your buyers arestuck, or if you're not getting
pre-approvals, or if there areprograms that aren't yet
available, or if the answer isanything but a yes, or we'll
figure it out, you need to talkto Nikki.
It is so, so very important.
(09:14):
And if you're doing yourfiduciary duties and really
looking out for your buyers, Ialways tell my buyers in the
beginning, you know what, let'sget you with Nikki and then get
a second or third opinion.
I say go to your bank or yourcredit union or whatever
financial institute you have,you know, if that makes you feel
(09:34):
better, because a lot of peoplehave that familiarity and they
want to go there because that'swhere their money's been or
where their banking's been, orif it's a smaller area, they
probably know the people intheir local bank or credit union
by first name.
So just take that intoconsideration.
But if your buyer is insistentupon going through their bank or
(09:55):
credit union, always, always,always send them to Nikki for a
second opinion because that isour job is to consult and to um
make sure that we're watchingfor the bet out for the best
interest of our buyer.
I always tell them my not scriptor line, but what I say is I
don't care who you go with,whomever you choose is up to
(10:17):
you.
My role in my care is that youget the very best deal, interest
rate, plan, you know, loan foryou and your family.
That's that's it.
And you'll only, you know,you'll know if they've already
gotten their credit, theircredit pulled and gotten their
terms and everything from theircredit union or bank.
(10:38):
I say one of two things willhappen.
Either you will know you'reexactly where you should be, and
you'll have peace or mind, peaceof mind, or Nikki's gonna show
you something that's gonna befar better than what you'll
have, and you'll you'll havepeace of mind that you save
thousands of dollars.
So either way, you win.
SPEAKER_00 (10:57):
And I also very much so.
And also when you as a realtorare looking for, you know, like
you get a pre-approval letter.
Let's say you have a listing andyou get a pre-approval letter.
If you have a loan officer onthat pre-approval letter, I just
hooked up the website.
It's the NMLS Consumer Accesswebsite.
You can plug in their licensenumber, their name, their NMLS
(11:18):
ID, whatever it is, and it'llsearch for them for that
customer and it'll tell you whattheir history is, how long
they've had their licensing, youknow, what it looks like.
And I'll just pull up mine justso you guys can kind of see what
it looks like as far as howexperienced, you know, you can
see a person is.
And any consumer can do this,any realtor can do this, any
(11:40):
consumer can do this, and itjust gives you an option for how
you can see how, you know, howtheir history is.
So for example, this list of allmy licensing, all my, you know,
information on where I've been,how long I've had a license with
each individual, you know, eachindividual state, et cetera.
And so it gives you a lot ofthese details.
(12:02):
And you can kind of go in hereand you can say, okay, well,
Nikki, she's been, you know, youknow, a long history of
employment, 2003 is where I,when we were first required to
get these NMLS IDs.
This is my first NMLS ID.
That was the first year we wererequired.
So you know I've been in thisbusiness for quite some time,
you know, working around thebusiness and making sure that,
you know, I've been able tocarry my license through and
(12:24):
have the experience of anexperienced loan officer.
So it'll give you the wherethey're licensed right now.
And then if you just click onthis, it'll tell you the history
of where they've been.
So a lot of times I'll get fromfrom uh what I want to say, from
other agents asking me, hey, youknow, I'm just gonna stop share
here.
Hold on just one second here.
They'll ask me, you know, like,do you know this person?
(12:46):
Do you know, you know, who theyare, whatever the case is.
And I'll get them to ask me,hey, how long have they been
licensed for?
And this is the exact websitethat I go to every single time.
So that's important for you guyson your listings as well is to
look up these loan officers orfor your buyers if they are
considering someone in a bank orare considering someone, you
know, outside of what you wouldnorm who you would normally work
(13:07):
with, do the due diligence tolook them up and say, hey, this
is great.
I love that your friend Ben doesmortgages.
However, Ben's been in themortgage industry for three
months.
And it might be good to get asecond opinion because there's a
lot of situations that can comeup in mortgage where people are
going to need alternate help.
So just an FYI for you.
SPEAKER_01 (13:24):
Yeah, you're you're the full deal.
I mean, listing side is alisting agent.
You get that pre-approval letterfrom the buyer's agent's buyer.
Yeah, look up Nikki.
I mean, that's that's evenbetter.
I mean, honestly, talk aboutholistic, well-rounded business
partner.
Again, she's an arm of yourbusiness for buyers and for
(13:45):
listings.
As you're getting those purchaseagreements, you need to vet out
those people.
SPEAKER_00 (13:51):
So and give your sellers confidence too.
Say, hey, I looked up this loanofficer, they're well history.
You know, they have eight yearsin the industry.
Looks like you know, and by theway, you can also look up
production numbers for loanofficers.
It takes a little bit moregoogling, but you can look up
production numbers and see howmuch production they've done so
that you can feel confident thateven if they've been in the
industry for eight years, oh,look, they've done 700 loans in
(14:13):
eight years.
That's amazing.
SPEAKER_01 (14:14):
Things are so that's gonna be my tip for today.
I mean, if you can do, I don'tknow of all the listing
presentations I've watched, Idon't know of one that I can
think of off the top of my headthat says, we will also vet the
lender for your buyer of yourhome.
I mean, bring that.
That's my tip for you today.
(14:35):
Find a business partner.
If you're not working withNikki, ask your lender if
they'll do that for you as alisting agent and look up and
vet any of the lenders for thebuyer of your listings.
That's huge.
I love it.
SPEAKER_00 (14:49):
It is, yeah.
And it works, you know.
Like I said, I've I've been ableto talk to clients who have had
experience with, you know, loanofficers that don't have a lot
of time or experience.
I've talked with clients whohave loan officers that are
really good.
And I'm also, I'm also theperson that's like, I want to
make sure that that client getsthe best deal for themselves.
If there's really no differencebetween myself and another loan
officer and they feelcomfortable with that other loan
(15:11):
officer, I'll tell them, like,hey, this is good, this is a
good deal, it looks great to me,or I'll say, hey, I can do a
little bit more on this side, orhere's another strategy I will
employ, things of that nature.
Because I'm here for therelationship and making sure
that they get what they needfrom a purchase standpoint or
from a loan standpoint.
I'm not here to take loans fromother loan officers or to take
loans from banks.
I'm here to make sure that theyhave the checks and balances
(15:32):
that they need in order to getthe information.
SPEAKER_01 (15:34):
Yep, and be a the best business partner around.
Yeah.
So you're so so appreciated.
Yeah, I can vouch for it.
She's amazing.
Wonderful.
Well, I will take that link andI will drop it.
So whether you're watching onsocial media, listening to the
podcast or YouTube, look belowin the comments and leave us a
comment.
If there's anything that youwant us to cover or talk about,
(15:56):
let us know.
We'll be happy to do that.
And always the Monday marketupdate of what's happening in
the now, because as you can see,this is live in the AWS thing is
happening everywhere.
I know I'm getting emails leftand right.
So it just shows that we don'tpre-record this.
SPEAKER_00 (16:10):
This is every every Monday.
And yeah, hopefully our systemswill be up by the end of the
day.
SPEAKER_01 (16:16):
Right, absolutely.
Well, thanks, Nikki.
We'll see you next week and uhappreciate you.
SPEAKER_00 (16:21):
Absolutely.
Talk to you guys later.
SPEAKER_01 (16:22):
Have a good one.
SPEAKER_00 (16:23):
Yeah.
It is October 20th, and this is your weekly market
update.
Nikki, what's going on today?
SPEAKER_00 (00:44):
Good morning, everyone.
Happy Monday.
So news over the weekend, ofcourse, has to do with the AWS
shutdown or the issue thatthey're having with their
hosting of websites.
So apparently 40% of theinternet sites are hosted
through AWS in some sort ofcapacity.
So a lot of people areexperiencing some shutdown of
websites or partially workingwebsites.
From my standpoint, you know,I've got partially working
(01:06):
applications, I've got partiallyworking, you know, software
systems that, you know, arehaving some issues along the
way, but hopefully they'll beable to solve it soon.
We do know that even though mostof the reporting that happens
from a bond market standpoint ishosted through these websites,
we can go directly to theactual, you know, area where
this stuff gets posted and knowthat the bond market is actually
(01:29):
improving today.
So we just went under 4%, whichhasn't happened in a while.
We are at 3.98 as of thismorning, which is helping put
pressure on bringing thoseinterest rates down.
We also have at the end of themonth the looming Fed cut that
is pretty much 99% guaranteed tohappen at the end of this month,
with another cut coming inDecember.
So we have some good news fromthat standpoint.
It's a quick reminder (01:49):
even if the Fed does cut interest rates,
it isn't a direct correlation tomortgage interest rates being
cut.
However, they do fall along thesame kind of trajectory, if you
will.
So normally when Fed cutsinterest rates, that bond rate
will go down, which helpsmortgage interest rates come
down.
So a lot of things, good thingsstill happening through the end
of the year from an interestrate standpoint.
(02:10):
Right now we're in the lowsix-ish range.
The hope we can hit some fiveswith a little extra, little
extra fee, a little extra buydown.
But most of most people aregoing to be in between about six
and six and a half as of today.
So one of the things that hascome up in really immense
numbers over the past couple ofweeks, at least for me
personally from a mortgageapplication standpoint, is
(02:33):
clients who are transitioningfrom retirement or from their
jobs into retirement and wantingto make a move.
So, for example, a lot of timesI will have clients who say,
hey, I'm going to retire nextyear.
I want to come up with a planwhere I can retire and move to
Florida, or I can retire andmove Derek, or I can move back
to Minnesota to be with mygrandkids, or whatever that case
(02:55):
is.
So I have a lot of people intransition right now that are
nearing the end of the year,which is usually a retirement
timeframe.
And how do we successfully helpthem from working a full-time
40-hour week salary position toretirement and really figuring
all that out and how that'sgoing to work from a home
purchase standpoint?
So a couple of things that welook at.
(03:16):
When we look at somebody that'stransitioning from a full-time
job into retirement, what doestheir retirement situation look
like?
We know that they haven't set updraws on their retirement
income, or maybe they're justnot wanting to for a while.
Maybe they just want to live offof savings for a while.
Well, there's a couple keytransition pieces that we can do
from a mortgage standpoint thatcan help them with that
transition.
First and foremost, we can dowhat's called an asset
(03:38):
dissipation loan.
So what an asset dissipationloan does is it takes the full
amount of your assets and itdissipates them or it draws them
down over time to cover thebills and the new mortgage
amount.
These loans are pretty commonfor people who are transitioning
to retirement where maybe a bulkof their assets are held in
(03:59):
either in non-retirement fundsor they have kind of an even
split 50-50 between retirementfunds and assets.
And we can do what's called anasset dissipation and just draw
those funds down over time inorder to qualify for a mortgage
payment.
So that's kind of a very usefultool.
The other thing that we can dois we can have them set up a
(04:20):
monthly distribution from aretirement account that is going
to take place after retirementage.
So, in other words, let's justsay they're retiring in
December, they want to purchasea home in January, we say, okay,
no problem.
Set up a retirement distributionto call in a qualifying amount
for the mortgage and the loan,and then receive your first
(04:41):
distribution and we close on theloan.
What you do after that is up toyou, however that works.
But if we can set up a monthlydistribution to cover the
mortgage and qualify for theloan, then it write like they
receive their firstdistribution, we can close on
the loan two to three dayslater.
So it's really nice opportunityfor them to not have to have a
history of retirement income,but be able to still transition
(05:04):
into that retirement mode orinto that new home while they're
transitioning from a job intoretirement.
So those are two options.
The third option that we look atis a child buying a home for a
parent who is retired and cannotafford the home on their own.
The requirement for this is thatthey have to be of retirement
age and they have to beconsidered elderly, which
(05:25):
ironically is anyone that is ofretirement age.
So if you are a child and youcan say, okay, I can purchase
this home, but I want topurchase it for my aging parent,
you can do that and it's stillconsidered a primary residence
loan, 5% down payment, normaleveryday interest rates.
So those are three different bigopportunities that we can have
that can help people transitionfrom working full-time into
(05:48):
retirement without missing abeat.
SPEAKER_01 (05:50):
Oh, that's amazing.
Yes.
I love it.
Yes.
And I know we're working on oneright now.
We are.
I did not know that.
So I misinformed her.
But of course, I said you'regonna want to talk to Nikki
because she has all of the toolsand the resources and the
programs, and she'll know betterthan me.
And of course you do.
Yes.
SPEAKER_00 (06:09):
And the cool thing about the, you know, parent loan
or the aging parent loan is thatthe whole design of that loan is
really threefold.
Number one, it's designed sothat when you have an aging
parent and as they come on andage, if they need to go to
assisted living or nursing home,sometimes the assisted living or
nursing home can require theclient or require the parent to
(06:32):
draw on the equity of their homein order to supplement pain for
the nursing home for anythingthat Medicare and Medicaid don't
cover.
That can be a huge issue for,you know, parents who have
bought a home, have a ton ofequity, and that is their nest
egg.
That's what they need to liveoff of.
That's what they wanted to leaveto their children.
So this loan allows the child topurchase the home for the parent
(06:53):
as a primary residence and notand really not have to take that
home into consideration when itcomes to nursing home or
assisted living requirements.
The other cool thing is itallows us to put lower-down
payments on a home, which, youknow, can help with actual cash
flow that the aging parent couldor could not have.
And number three, the onlyrequirement is for us to state
(07:13):
that the aging parent can'tafford this home on their own.
We don't have to collect medicalrecords.
We don't have to collect incomeinformation from the aging
parent.
We just have to state thatreasonably this parent is aging
and they just simply can'tafford this loan on their own.
So that's really what thoserequirements are.
So it's a really useful toolthat we've used quite a few
times actually to help peopletransition into a different
(07:33):
moment in their lives.
unknown (07:35):
Yeah.
SPEAKER_01 (07:36):
No, it's absolutely there's so this just proves my
point.
I'm gonna say it again.
There are so many programs outthere.
And I've been talking to a lotof new agents that have been
joining me on coaching andmentoring.
It does matter who you partnerwith.
This is a perfect situation.
You are not going to get Nikki'sexpertise, her time, care, and
(08:00):
attention to your clients fromsomeone online, from just going
to like one of those onlinemortgage places.
Maybe you get it through aclick, or your client clicks it
through one of the ads orsomething.
I mean, they might get on thephone once or twice, but being
specialized in Minnesota, likeNikki is in many other states as
(08:21):
well, and staying up to date.
I mean, God, please do not gowith a lender who doesn't do
this full time.
Yes.
And on top of full time, youhave Nikki who's done this how
many years is it now?
Well, 26 now.
Yeah, that's what I thought.
Yes, I keep thinking again whenwe first started working
together, that number sticks inmy head, and I know it's been
(08:42):
years.
So 26 years.
SPEAKER_00 (08:44):
26 years.
SPEAKER_01 (08:45):
Yeah, yeah, it's so important, you guys.
Who knows?
SPEAKER_00 (08:48):
Maybe I'll get to use one of those retirement
loans one day, you never know.
SPEAKER_01 (08:53):
Yes, but yeah, no, I mean, and if you're getting
no's, or if your buyers arestuck, or if you're not getting
pre-approvals, or if there areprograms that aren't yet
available, or if the answer isanything but a yes, or we'll
figure it out, you need to talkto Nikki.
It is so, so very important.
(09:14):
And if you're doing yourfiduciary duties and really
looking out for your buyers, Ialways tell my buyers in the
beginning, you know what, let'sget you with Nikki and then get
a second or third opinion.
I say go to your bank or yourcredit union or whatever
financial institute you have,you know, if that makes you feel
(09:34):
better, because a lot of peoplehave that familiarity and they
want to go there because that'swhere their money's been or
where their banking's been, orif it's a smaller area, they
probably know the people intheir local bank or credit union
by first name.
So just take that intoconsideration.
But if your buyer is insistentupon going through their bank or
(09:55):
credit union, always, always,always send them to Nikki for a
second opinion because that isour job is to consult and to um
make sure that we're watchingfor the bet out for the best
interest of our buyer.
I always tell them my not scriptor line, but what I say is I
don't care who you go with,whomever you choose is up to
(10:17):
you.
My role in my care is that youget the very best deal, interest
rate, plan, you know, loan foryou and your family.
That's that's it.
And you'll only, you know,you'll know if they've already
gotten their credit, theircredit pulled and gotten their
terms and everything from theircredit union or bank.
(10:38):
I say one of two things willhappen.
Either you will know you'reexactly where you should be, and
you'll have peace or mind, peaceof mind, or Nikki's gonna show
you something that's gonna befar better than what you'll
have, and you'll you'll havepeace of mind that you save
thousands of dollars.
So either way, you win.
SPEAKER_00 (10:57):
And I also very much so.
And also when you as a realtorare looking for, you know, like
you get a pre-approval letter.
Let's say you have a listing andyou get a pre-approval letter.
If you have a loan officer onthat pre-approval letter, I just
hooked up the website.
It's the NMLS Consumer Accesswebsite.
You can plug in their licensenumber, their name, their NMLS
(11:18):
ID, whatever it is, and it'llsearch for them for that
customer and it'll tell you whattheir history is, how long
they've had their licensing, youknow, what it looks like.
And I'll just pull up mine justso you guys can kind of see what
it looks like as far as howexperienced, you know, you can
see a person is.
And any consumer can do this,any realtor can do this, any
(11:40):
consumer can do this, and itjust gives you an option for how
you can see how, you know, howtheir history is.
So for example, this list of allmy licensing, all my, you know,
information on where I've been,how long I've had a license with
each individual, you know, eachindividual state, et cetera.
And so it gives you a lot ofthese details.
(12:02):
And you can kind of go in hereand you can say, okay, well,
Nikki, she's been, you know, youknow, a long history of
employment, 2003 is where I,when we were first required to
get these NMLS IDs.
This is my first NMLS ID.
That was the first year we wererequired.
So you know I've been in thisbusiness for quite some time,
you know, working around thebusiness and making sure that,
you know, I've been able tocarry my license through and
(12:24):
have the experience of anexperienced loan officer.
So it'll give you the wherethey're licensed right now.
And then if you just click onthis, it'll tell you the history
of where they've been.
So a lot of times I'll get fromfrom uh what I want to say, from
other agents asking me, hey, youknow, I'm just gonna stop share
here.
Hold on just one second here.
They'll ask me, you know, like,do you know this person?
(12:46):
Do you know, you know, who theyare, whatever the case is.
And I'll get them to ask me,hey, how long have they been
licensed for?
And this is the exact websitethat I go to every single time.
So that's important for you guyson your listings as well is to
look up these loan officers orfor your buyers if they are
considering someone in a bank orare considering someone, you
know, outside of what you wouldnorm who you would normally work
(13:07):
with, do the due diligence tolook them up and say, hey, this
is great.
I love that your friend Ben doesmortgages.
However, Ben's been in themortgage industry for three
months.
And it might be good to get asecond opinion because there's a
lot of situations that can comeup in mortgage where people are
going to need alternate help.
So just an FYI for you.
SPEAKER_01 (13:24):
Yeah, you're you're the full deal.
I mean, listing side is alisting agent.
You get that pre-approval letterfrom the buyer's agent's buyer.
Yeah, look up Nikki.
I mean, that's that's evenbetter.
I mean, honestly, talk aboutholistic, well-rounded business
partner.
Again, she's an arm of yourbusiness for buyers and for
(13:45):
listings.
As you're getting those purchaseagreements, you need to vet out
those people.
SPEAKER_00 (13:51):
So and give your sellers confidence too.
Say, hey, I looked up this loanofficer, they're well history.
You know, they have eight yearsin the industry.
Looks like you know, and by theway, you can also look up
production numbers for loanofficers.
It takes a little bit moregoogling, but you can look up
production numbers and see howmuch production they've done so
that you can feel confident thateven if they've been in the
industry for eight years, oh,look, they've done 700 loans in
(14:13):
eight years.
That's amazing.
SPEAKER_01 (14:14):
Things are so that's gonna be my tip for today.
I mean, if you can do, I don'tknow of all the listing
presentations I've watched, Idon't know of one that I can
think of off the top of my headthat says, we will also vet the
lender for your buyer of yourhome.
I mean, bring that.
That's my tip for you today.
(14:35):
Find a business partner.
If you're not working withNikki, ask your lender if
they'll do that for you as alisting agent and look up and
vet any of the lenders for thebuyer of your listings.
That's huge.
I love it.
SPEAKER_00 (14:49):
It is, yeah.
And it works, you know.
Like I said, I've I've been ableto talk to clients who have had
experience with, you know, loanofficers that don't have a lot
of time or experience.
I've talked with clients whohave loan officers that are
really good.
And I'm also, I'm also theperson that's like, I want to
make sure that that client getsthe best deal for themselves.
If there's really no differencebetween myself and another loan
officer and they feelcomfortable with that other loan
(15:11):
officer, I'll tell them, like,hey, this is good, this is a
good deal, it looks great to me,or I'll say, hey, I can do a
little bit more on this side, orhere's another strategy I will
employ, things of that nature.
Because I'm here for therelationship and making sure
that they get what they needfrom a purchase standpoint or
from a loan standpoint.
I'm not here to take loans fromother loan officers or to take
loans from banks.
I'm here to make sure that theyhave the checks and balances
(15:32):
that they need in order to getthe information.
SPEAKER_01 (15:34):
Yep, and be a the best business partner around.
Yeah.
So you're so so appreciated.
Yeah, I can vouch for it.
She's amazing.
Wonderful.
Well, I will take that link andI will drop it.
So whether you're watching onsocial media, listening to the
podcast or YouTube, look belowin the comments and leave us a
comment.
If there's anything that youwant us to cover or talk about,
(15:56):
let us know.
We'll be happy to do that.
And always the Monday marketupdate of what's happening in
the now, because as you can see,this is live in the AWS thing is
happening everywhere.
I know I'm getting emails leftand right.
So it just shows that we don'tpre-record this.
SPEAKER_00 (16:10):
This is every every Monday.
And yeah, hopefully our systemswill be up by the end of the
day.
SPEAKER_01 (16:16):
Right, absolutely.
Well, thanks, Nikki.
We'll see you next week and uhappreciate you.
SPEAKER_00 (16:21):
Absolutely.
Talk to you guys later.
SPEAKER_01 (16:22):
Have a good one.
SPEAKER_00 (16:23):
Yeah.
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