This past August, Freddie Mac released Bulletin 2017-12, in which they announced several changes, both enhancements and restrictions, in regards to rental income. These changes are effective with all settlement dates on and after February 9, 2018, however they will allow implementation of the changes in their entirety immediately. PRMG will be requiring that all loans funded on or after Tuesday, December 26, 2017 follow the new requirements.
Read MoreAs of late, Company Culture has become a major buzz word in the Mortgage Industry, and hopefully around the office. There’s a good chance you think that you’ve exhausted the subject, but the truth is, the term is so rich with nutrients—the kind of nutrients that feed and stimulate your mind and propel your work ethic—there is surely more to unpack.
Read MoreParamount Residential Mortgage Group, Inc. (PRMG) is proud to be part of a select few of lenders in the United States devoting itself to a cohesive digital mortgage experience. Proudly introducing the new PRMG TPO Portal, a new digital mortgage platform that promises brokers blazing speed and greater functionality, making the entire experience easier to do business with PRMG.
Read MoreWith the devastating natural disasters that have been havocking our entire world, it is hard to stay positive sometime. However, there is always a light at the end of the tunnel! Our PRMG employees are proving to be that light of hope!
Read MorePRMG University is a great resource for all employees, as well as for our external TPO partners as we offer a variety of training classes each month. Retail, Wholesale and Correspondent channels, as well as our TPO partners are able to benefit from these courses as they are designed to enhance skills, improve prior knowledge, and ultimately increase success at PRMG. PRMG University publishes a monthly training calendar with courses that are continually updated and relevant to the industry.
Read MoreOn the weekend of July 29, 2017, Fannie Mae implemented Desktop Underwriter (DU) Version 10.1, which included several enhancements to their existing offering. Since the updates only apply when using DU 10.1, if the loan was run previously though DU, the loan will need to be rerun with a new DU case number. It is important to note that DU will continue to run the loan using the existing version (in this case DU 10.0) unless you go in and trigger it to run the new version.
Read MoreAt any forward-thinking company whether in the mortgage business or a completely different industry; there is one thing that will be undeniably in common, that is we are all constantly trying to understand the best ways to market to millennials. Millennials are the future of our economy, and more importantly the largest group of future homebuyers.
Read MoreWhen it comes to creating a social media presence, it is unlikely today that a person is not somehow connected. However, the amount of people not capitalizing on these social engines for business growth is astounding, and we believe the need to do so has never been greater. Think of going into a new account much like a job application, often when you leave the first thing your potential partner is going to do is research you and your company.
Read MoreHow many times have you heard some corporate executive on social media or YouTube drone on about their “Great” company culture? Whenever you hear someone speak about company culture they are usually referring to a set of principles, behaviors or actions that have been fostered over a significant period.
Read MoreAccording to Forbes.com, there is 1.3 trillion dollars of student loan debt in the United States. Student loan debt is the second highest consumer debt category (mortgage debt is the first) and is higher than both credit cards and auto loans. The Forbes article indicates that the average student in the class of 2016 has $37,172 in student loan debt.
Read MoreAnything I do, I try to combine work. Even with work, I look at work as giving back to the community and giving back to charity and giving back to mentoring employees.
Read MoreThe role of the Loan Officer is vital to the health of our economy. The demand for loans as well as the need to fulfill the American Dream of homeownership has never diminished. However, when you look around at your fellow peers, can you not help but notice the consistent age range of the sales division? The average age of Loan Officers in the United States is 42.3 years old for men, and 43.2 years old for women.
Read MorePRMG Cares was designed to give back to communities and special charities in need across the nation. PRMG embraced and fostered a spirit of courage and tradition of giving back through PRMG Cares.
Read MoreBuying a home is a stressful moment in anyone’s life. There are tons of planning and moving parts involved so it’s understandable! Choosing the right lender is also another factor to consider there are several methods and options for buyers to help them get in the home of their dreams.
Read MoreFreddie Mac (FHLMC) has announced several upcoming changes to their seller guide, specifically in relation to Assets and Income. With these changes, you will find there are some enhancements for qualifying, as well as some new restrictions/requirements. One of the changes is that FHLMC will be requiring analysis of the business to support that the business has sufficient liquidity and is financially capable of producing stable monthly income for the borrower, similar to Fannie Mae.
Read MoreTax time is the perfect time to sit and get a financial review before you finish up taxes and push the go button… or if you have already finished your taxes, we highly encourage that you speak with a loan officer and your tax advisor to see what things could improve your tax situation and even your living situation.
Read MoreNational Marketing Director, Paul Lucido reminisces about the history of the modern era of Madison Avenue advertising and many of its principles that still apply today.
Read MoreIN ALIGNMENT WITH PROPOSITION 67
Grocery stores in California will no longer be issuing plastic bags and therefore will be charging $0.10 per bag at checkout. Great News! PRMG is happy to announce that we will be providing FREE Reusable Shopper Totes to all PRMG California Employees.
Read More“We are very excited about this years’ upcoming national marketing campaign that was recently showcased on the cover of the 2016 December issue of the Scotsman Guide. The new advertising campaign ties nicely into underlying slogan “progress is not possible without change” and will speak to a series of locks-ups we have slated for all our advertising in 2017” said Paul Lucido, National Marketing Director, PRMG.
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