Guide to How to use the Mortgage Grapevine; Broker Universe.

The infamous mortgage grapevine www.mortgagegrapevine.com   or www.brokeruniverse.com. Both sites redirect you to page where loan officers and lender AEs can post scenarios, answer them with suggestions or give pricing with new bank ideas. Sounds great but be very careful.

I did a undercover study on there to show how this site functions.  Its going to be one of my chapters in my new book. A whole chapter on this site because people need to know. I found out that unless you know who you are responding with it is a crap shoot if you are wasting your time or potential going to get your deal snaked. You think you are talking with a Lender and its another Loan officer trying to snake your deal. Do not ever send a 1003 or any info about your client. Co-brokering is this sites function for most users. Co-brokering is a bad idea folks and is border line illegal.Then on top of everything else you have these burn out loan officers trying to act as DRE or undercover FBI agents on this site to police the Co-brokering, fake lender AEs or whatever they feel is not right.. These whistle blowers are just bored and looking to harass the misdirected hard working people of this industry trying to  desperately earn a dime in todays tough market. Two wrongs do not make a right! I agree they are wrong but so are you.

This sites functionality is incredible in many ways becuase its an open forum for loan officers and AEs to share info and ideas to work more efficiently on getting loans funded. This site fuctionality unfortunately acts as a counter-productive mortgage site for  lazy LO's and lender AEs to spend hours doing nothing.  Its like a myspace for Loan officers who have no life.

How to post: you must first register:
http://www.brokeruniverse.com/grapevine/register/

To post loan scenarios:
http://www.brokeruniverse.com/grapevine/#post

To answer a post: Ex below
http://www.brokeruniverse.com/grapevine/thread/?thread=478509


To clear any doubts lets go over what you need to do as a Loan officer to be succesful and get your loans funded. Simple ask you client what program they want and their exact needs. Make sure they qualify with credit and income and  then simply price. How to price out your loan effectively? First of all you dont need these sites. Take your lender list find the top ten AE's on it. These days you are lucky to have 5 on a list of 100. Take their emails and send  them each the loan scenario in one email "BCC". Make them compete for that loan and every single loan. Once you have the info then explain to your borrower why this program is for them. Obviously you went with that reps deal becuase the rate on the program they wanted is the best with that particular lender rep. Why else would you go with one rep over the other? Its so easy folks, get real!

Viners also  please stop posting political nonsense that is not this sites function and its not appropriate. God knows no one wants to hear it but you. Go to church, talk to your husband/wife or in most of your cases seek professional therapy. Please if not for you then for our industry''s precious name. To all you policers of the site, stop wasting your time the real authorites are insutled by the job you are doing. Let them do their job becuase they are good at it and that is why they got hired. If you dont you might end up going out of business wasting all that time. The funny thing is I believe most of you are not even doing loans anymore becuase if you were how do you have the time to even play on there. Your job duty is to help your clients instead you are a rent a cop on a web site. Thats the way to help yor clients fullfill their needs, good job. I  am sure your clients would love to hear the person working for them is playing around on a website wasting everyones time including their own. Spend that energy calling your lender rep and pushing to get loan docs so you can help your loans fund quicker for you and your clients. Now if you are not on there to do loans you have no place on there.

I was going to post a political post here but its not worth your time to read it.

In closing, I only suggest using the grapevine or brokeruniverse if you have a very difficult loan scenario that your lender reps cant get done or to acquire info about the mortgage business. This site has great info!!!. That is the only viable fuction of this site.   For example a Lot loan, Commericial loan or maybe a larger Jumbo loan amount. When you post make it clear what you are asking for include all details of the deal. Please do post on the grapevine but make sure you only call an office number to an Lender AE's direct line. After speaking with them get their office's main line. Make sure then you call the direct office's main line of that lender and ask if that person works there. I am very serious about this you never know who is who. Consideriing everyone including the rent a cops on there are using fake names and emails.  Do not email call the lender AES directly anyone can make up a fake email.  Please be careful becuase we all know our clients are our livelyhood.

Great detailed info on the Vine. Check it out.

http://www.brokeruniverse.com/expert/
Expert info

http://www.brokeruniverse.com/brokerwire/
Top news

http://www.nationalmortgagenews.com/buyersguide/
Buyers guide

http://www.brokeruniverse.com/conferences/
Mortgage conferences.

http://www.brokeruniverse.com/newsletter/
Free newsletter.

http://www.brokeruniverse.com/tips/
Broker tips, networking is key!

These links above are just half of what is available on the site. Looking at postings and the  constant replys you will pick up this business fast.

To all you abusers "rent-a-cops, lazy LOS and AES" of the Vine please post and move on. If you have something intelligent to say pick a political mortgage topic and stick to it.  Please be professional becuase people are listening to your so called valued opinions. The Vine has incredible value to LO's and Lender AEs in many ways.  Great info and you can learn alot of valuable info in a short period of time. Kudos to the Vine! Please look carefully and enjoy. Take care and God Bless!