2011 FHA Loan Limits. Has anyone see the new limits released by Mortgagedaily yesterday? For one-unit residential properties, the "floor" limit is $271,050, while duplex loans are limited to $347,000 and triplex financing cannot exceed $419,400. On a four-unit property, the limit is $521,250.

In high-cost areas, as required in the Economic Stimulus Act of 2008, the one-unit limit is $729,750, and the two-unit limit is $934,200. Three-unit high-cost loans are limited to $1,129,250, while the fourplex maximum is $1,403,400.

"Many areas are eligible for loan limits between the national FHA floor and ceiling based on area median home prices," the letter stated. "In such areas, the limits shall be at the higher of the Economic Stimulus Act of 2008 calculated loan limits for 2008 and the Housing and Economic Recovery Act of 2008 calculated loan limits for the effective period stated herein."

For Alaska, Guam, Hawaii and the Virgin Islands -- the one-unit cap is $1,094,625, while it jumps to $1,401,300 on two-unit buildings and $1,693,875 on triplexes. The fourplex limit in these "special exception areas" is $2,105,100.

Because of Continuing Resolution provisions, the limit on home-equity conversion mortgages will stay at $625,500. The HECM limit is 150 percent of the conforming limit.

The loan limits are in effect from Jan. 1, 2011, to Sept. 30, 2011.

Well, things certainly have changed for us who are survivors in the mortgage industry. We had some real peaks in refinancing levels throughout this year thanks to the rates. There were lots of exciting things happening here for us at Home123 as well. As you may know we re-launched the multimillion dollar brand; HOME123.com in early 2010. Just this past week we launched our new lead division home123leads.com. We now have 8 verticals for our consumers and in addition will be launching a platform for REALTORS® called MobileListingTag. As well as a consumer smartphone application HomeCompare.

For those of you who are currently clients at home123leads.com or who knew me when I ran LowerMyPayment you know the quality of the mortgage leads you received. Reputation as you know is 100% everything in this business. We will never be nor do we want to be the huge lead company; however, we are able to customize our lead programs to your specific needs. We listen and we take the time to understand your platform. And unlike many of the surviving lead companies out there we share with you how we generate our leads and provide the secret sauce so you can apply it in your branch operations. Give us a try the next time your lead volume needs a little boost. I invite you to visit home123leads.com or give me a call at 1-877-564-2726. Be sure to visit as I will be posting ways in which you can generate your own leads and reduce your overall marketing budget for your operation.

Well I can't say it's been a Happy year for us in the mortgage industry. In my talks and travels the stories I hear are quite sad, brokers not knowing where their next job will be, loan officers and managers in California; in the heart of the mortgage industry who can't move because their home values have decreased to the point of taking a 25-30% loss on their home. People who were employeed with big mortgage companies waiting tables and working as bartenders, not to suggest there is anyting wrong with the professions, but it goes to show how significant the surplus of mortgage professionals are. So where is all of this going? Well if you're like me you get up each morning at 5:30 grab your coffee and the copy of the journal and begin to page through article upon article describing each author's version of doomsday. The very next day, what a surprise, there is hope in the mortgage industry. The fed decreased the rate a quarter point and wall street has settled somewhat. The fact is, nobody knows where it is going. With majority of adj arms due in Q4 of 2007 and Q1 2008 the worst is yet to come. Compounded with decreased home vaulations many believe we are on the verge of a resession in mid 2008.

As a mortgage professional what do you do? First and foremost if you are still in the industry do not assume you job is stable. One of my first bosses gave me some really good advise a long time ago he said, "the very first day of your new job is when to update your resume, face it kid, you really never know from one day to the next". Also begin to look at your overall skills you have achieved in your career and if you can develop new skills to keep yourself fresh in the marketplace. If you have time, take some classes that you believe will make you more marketable. How are your networking skills? Take this opportunity to drop people in your network an e-mail. It might not be tomorrow or a even a few months from now but you want to feel comfortable if and when that time comes so you can inform your contacts you are in play. Consider this, what would want to do right now if you could not stay within the mortgage industry? Perhaps some of the career choices you are thinking about could perfectly be adaptable to your current job.

Warm transfers are really taking a front step in place of paper leads. The quality can be determined much quicker than paper leads and feedback from loan officers is almost instantaneous. This allows less spoilage on your marketing dollars. Recently Los Angeles-based Low.com, announced that is launched a new warm transfer program. You can read the full story here.
You can read the full story here.

A couple of companies have asked me if there is any success with trigger leads. well from my experiences they require much work and effort. An energetic loan officer will have some success but I would not look to trigger leads for a solution to your lead supply. Also very recently local governments have taken a very hard stance on them. Here is an article I would suggest you read before you consider trigger leads.
Story Here.