Mortgage Planning Process
The mortgage planning process with a CMPS is different than the typical "shopping for a mortgage" experience.  The mortgage planning relationship is not about you:
- Wasting time valuable time trying to savie $25/month by comparing rates, fees and closing costs among different lenders.
- Wasting your valuable time trying to baby-sit a mortgage company you've reluctantly chose to work with.
- Being promised one thing and then getting something different at closing.
- Being "sold" on one mortgage product over another.

The mortgage planning relationship with a CMPS is about you:
- Receiving valuable financial advice and guidance that can literally save you thounds of dollars.
- Trusting a professional who is committed, qualified and equipped to deliver what they promise.
- Experiencing a "concierge" level of service when you are in the market to buy a home, refinance your mortgage or make cash flow changes to enchance your lifestyle.
- Implementing a defined financial plan of action in helping you achieve your life goals and dreams.
- Maintaining an ongoing high trust relationship with a team of financial advisors who can help you make necessary changes in your debt, cash flow and home equity planning strategies.


This is a relationshiop, not just a transaction. As such, it requires a defined system of accountability in order for it to work effectiviely.   Here is a brief overview of the essentical steps involved in mortgage planning:
Needs Assessmsent: Clearly defining the clients personal values and financial goals, not just those relating to real estate.  Gain a true understanding of what is motivating a client.
Historical Analysis: Creating a home ownership history.  Does the client move or refinance often? 
Credit Review: During this process, we review the credit report and determine how the clients scores may be improved.  Saving significant amounts of money over time.
Plan Development:  This step includes developing a strategy that will help achienve the clients goals.  In addition, the plan may address becoming debt free, planning for their children's college education, establishing an emergency savings account, creating more cash flow and financial independence.
Implementation: This point of the process, a client may or may not proceed with a mortgage, depending on what their current needs are.   A client may be referred to to other qualified advisors such as CPAs, CFPs, Realtors, Attorneys, Insurance Professionals, etc.
Plan Maintainance through an Annual Mortgage and Equity Management Review.  During this review, the mortgage planner can adjust recommendations, if needed, as the clients life changes.  Ongoing maintenance helps to increase the probability of the client's financial success.   Most often, this process involves periodic assessment of:
- Client's flucuaitng cash flow needs.
- Changing market interest rates and mortgage strategies.
- Income and career alterations.
- Family changes, including childrens and elderly parents financial needs.
- How client's real estate equity and investments are preforming from both a cash-flow and "internal rate of return" perspective.
Rhonda Porter
Certified Mortgage Planning Specialist
Mortgage Master Service Corp.
www.rhondaporter.com