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The Obama administration has recently expanded its $50 billion Making Home Affordable mortgage aid program announcing new measures that would help homeowners avoid a foreclosure and benefit from a mortgage loan modification.
So far, 14 companies that serve about three quarters of the mortgage market have signed up and will be paid for each loan they modify.
Brokers and lenders are actively staffing for the rush with many reporting a backlog of clients desperate for their services. It is estimated that more than 3 million home loans will need to be modified and but less than 5% have been completed so far. This has left mortgage brokers scrambling for tools to manage the influx of clients.
There has never been a better time to enter into the loan modification business. Not only will you get the satisfaction of helping people save their homes but you also have the ability to make a very lucrative salary and be your own boss.
In order to handle a large capacity of customers most mortgage professionals will use a loan modification software package to help them manage their caseload. Keeping the customer informed and allowing them to check status online is paramount to earning their trust.
So far, 14 companies that serve about three quarters of the mortgage market have signed up and will be paid for each loan they modify.
Brokers and lenders are actively staffing for the rush with many reporting a backlog of clients desperate for their services. It is estimated that more than 3 million home loans will need to be modified and but less than 5% have been completed so far. This has left mortgage brokers scrambling for tools to manage the influx of clients.
There has never been a better time to enter into the loan modification business. Not only will you get the satisfaction of helping people save their homes but you also have the ability to make a very lucrative salary and be your own boss.
In order to handle a large capacity of customers most mortgage professionals will use a loan modification software package to help them manage their caseload. Keeping the customer informed and allowing them to check status online is paramount to earning their trust.