Take the Commission Challenge.
Knowledge is money in the bank.
It’s time to test what you know…
1How many different and unique Temporary Agency Loan Limits for 2010 does California have? a. 18 b. 13 c. 25
Well done. The Temporary Agency Loan Limits have been embedded into ReadyPrice to provide accurate loan eligibility results down to a per county basis.
Sorry. The right answer is 18. The Temporary Agency Loan Limits have been embedded into ReadyPrice to provide accurate loan eligibity results down to a per county basis.
2What type of program allows for 100% single loan financing in California? a. USDA - Rural Housing b. VA c.FNMA DU Refi Plus d. LP Refi Relief e. all of the above
Right. ReadyPrice allows you to edit each search with specific parameters (loan amount, LTV, credit score, etc) to indicate different ways to find additional matches to your borrower's profile.
Not quite. The right answer is all four. ReadyPrice allows you to edit each search with specific parameters (loan amount, LTV's, credit score, etc) to indicate different ways to find additional matches to your borrower's profile.
3What lender offers loan amounts to brokers up to $3MM? a. Wells Fargo b. ING Direct c. US Bank
That's it. ReadyPrice includes a wide variety of both conventional and niche lenders, specific to the California market.
Oops…missed this one. ING Direct is the right answer. ReadyPrice includes a wide variety of both conventional and niche lenders, specific to the California market.
4What lender offers second liens up to 80% CLTV in California? a. ING Direct b. Wells Fargo c. US Bank
Bravo! First liens, second liens, or combo loans: ReadyPrice provides accurate search results for any mortgage transation.
Unfortunately…wrong. The correct answer is Wells Fargo. First liens, second liens, or combo loans: ReadyPrice provides accurate search results for any mortgage transaction.
5What lender offers 125% LTV for rate and term refi's for agency loans? a. Flagstar Bank b. Direct Mortgage c. Metlife d. Citimortgagee. all of the above
Impressive! ReadyPrice is up to date with the latest products and programs, geared for today's market.
Nope. The right answer is all of the above. ReadyPrice is up to date with the latest products and programs, geared for today's market.
6What lender has MI committments for condos up to 95% LTV on their conventional conforming product? a. Provident Bank b. Wells Fargo c. Bay Equity
Correct! The wrong answer could cost you time and commission; ReadyPrice gives you instaneous access to this information.
Wrong. The correct answer is Bay Equity. The wrong answer could cost you time and commission; ReadyPrice gives you instaneous access to this information.
Calculate My Score
Your Score:
Correct answers: 0
COMMISSIONS GAINED: $0
COMMISSIONS LOST: $15,000
Don’t worry, we won’t tell anybody.
Your Score:
Correct answers: 1
COMMISSIONS GAINED: $2,500
COMMISSIONS LOST: $12,500
You have much to learn, grasshopper. But good news!
Your Score:
Correct answers: 2
COMMISSIONS GAINED: $5,000
COMMISSIONS LOST: $10,000
You chose poorly. Fortunately, some choices in life are
Your Score:
Correct answers: 3
COMMISSIONS GAINED: $7,500
COMMISSIONS LOST: $7,500
Batting .500 is impressive in baseball. Now imagine
Your Score:
Correct answers: 4
COMMISSIONS GAINED: $10,000
COMMISSIONS LOST: $5,000
Confucius say he who knows more makes more.
Your Score:
Correct answers: 5
COMMISSIONS GAINED: $12,500
COMMISSIONS LOST: $2,500
Very good. Now go from good to great.
Your Score:
Correct answers: 6
COMMISSIONS GAINED: $15,000
COMMISSIONS LOST: $0
Swish! But the real challenge is nailing it every
Assumptions: Commissions Gained and Lost are calculated based on an average mortgage of $250,000, with an average 1% commission, or $2,500 per loan.