Loan Modification Referral Program

Presented by Cynthia TorpThe Angel Investor Network, Inc.

970.372.0407 phone / 970.797.1109 fax

History of The Angel Investor Network, Inc.- Founded in 2004 in Fort Collins, CO.- Has helped over 250 clients avoid foreclosure/bankruptcy.- Referred over 300 clients to loan modification, short sale and credit repair.- Effective July 15th, AIN has just opened their referral system to outside referring agents.- Our agents refer between 8-10 clients/month, with an average income of $3,000/month.

The Loan Modification Process (The 1-2-3-4 Method)

1. Find homeowners that need your help.2. Submit them (gather a few docs and submit them to us).3. Let us pre-qualify your clients for FREE.4. Collect a paycheck.

Loan ModificationWe work with a nationally recognized national law firm. They've been in business since the early 1990s and are nationally recognized

as a premier real estate transactional firm serving large and small (independent homeowner) clients, the perfect fit for loan modifications and restructuring through-out the country.

Here's just a bit about them:• A Rated with their local Better Business Bureau• Call you and answer any questions you may have.• Offer access to online tracking, customer service, support and a help line.• Offer links to sales agents for legal support• Offer full resources for legal advice and additional options in event

modification is denied

Loan Modification• Offer continuous access to toll free customer service to answer questions

regarding submission of packets and process of submission.

A little about us: • We’ve been doing loan modification referral management for over five

years and are backed by a law firm that has been doing them for over twenty years. We understand how this works. In order for you to be successful in loan modifications, we better be good at our job; your clients better be happy with the results, and you better know before you submit an application whether it will be accepted or not.

• How is that possible? We will teach you the acceptance formula. You determine whether your client fits or not. If they fit, you receive an acceptance within 24 hours, and a check typically within a week of a complete submission by your client.

Loan Modification• We’ve even made it as simple as possible. The pre-qualification process is

a single page document that you submit directly to our office via email. • Once you submit the document, you will be notified of acceptance or

denial. If your client is accepted, they will be immediately contacted by the attorney’s office and your job is done. You will be able to view the transaction online if you desire.

• However, you’re not required to anything more to receive your referral commission.

• Your client will pay for the loan modification service via ACH deposit. • Once the payment is made, you will typically receive your commission

within a week.

Money Back GuaranteeIf you’re familiar with the loan modification industry, you’ll know that there

are very few companies that offer a money back guarantee. However, it’s one of the many reasons we use this law firm.

If you accurately complete the pre-qualification form, and the law firm accepts the loan modification, if they are NOT able to achieve a loan modification, they will refund 100% of the fees collected.

(And yes, that means that your commission will have to be refunded as well. But it is a great selling point to your client).

They do the job, or they don’t get paid.

Cost of ServicesThe cost of a loan modification through this program is: $2,500 for primary

homes under $250,000,and $3,500 for primary homes over $250,000.

Of that, you will receive $300 or $500 respectively for your one-page referral.

A Tip for Refinancing:If you are not sure whether a client will be able to be refinanced due to

mortgage lates, loss of job, or other factors, consider submitting the refinance and the loan modification pre-qual form at the same time.

The loan modification pre-qual form is free to submit, and it may soften the blow if they are unable to refinance.

Who Can We Accept?We pre-qualify all files before accepting them. The qualification is easy.We accept:• Credit scores under 500 (optional)• No seasoning or employment history• Non-traditional income (validated)• Current and foreseeable late payments on mortgage of 60, 90, and 120

days• Loan-to-value up to 200 percent• Previous Chapter 7 or 13 bankruptcies• Notice of default and foreclosures in process• Properties in probate• Properties currently listed for sale

Who Can We Accept?We accept, (continued):• Self employed with no business license• No green card• Non-Owner Occupied up to 4 properties (depending on servicer)

Our success rate is 98% of all files accepted by the attorney. Most files close within 90-120 days.An application for a Loan Modification will typically stop a

property from going to sale in a foreclosure situation.

What’s the formula?Hard Rules:Your clients have to be late on their mortgage or expect to be late in the near

future.Your clients need to have some type of hardship.Income has to be able to be documented.

Soft Rules: Lenders typically like to refinance option arm and neg am mortgages.Lenders prefer to refinance clients on a fixed income, (seniors, social security

recipients, etc.)

What does it cost to sign up?

We’re charging a one-time set up fee of $295 for each referring agent who signs up. The fee covers our costs associated with your signup.

Upon signing up, you’ll receive your own one-page pre-qualification form that is coded to your agent referral number.

You’ll also receive marketing materials that will help explain the program to your clients.

The best part of our setup fee is that it isn’t due until you have a pre-qualification form accepted. So you don’t have to come up with any money out of your pocket for our program.

An even better option is to refer other agents and receive a check for $100 for each agent you refer who pays a setup fee!

How quickly can you start?Once you complete a referring agent packet we will immediately send you

your forms. You can submit clients right away via our online form at:www.theangelinvestornetwork.com/media/Prequal_no_submit.pdfBut be sure to complete the upper left hand side of the application so that we

can credit you for the referral.

To set up your one-on one training, please contact The Angel Investor Network, Inc. at 970.372.0407 as soon as possible.

Thank you for your time.