Larry's Lingo
The name of Larry's preapproval application form.
What is a 1003?
This loan typically makes when you can lower your interest rate, shorten the term, or cash out.
What is a Refinance?
This person helps Larry collect docs and move the loan down-funnel.
What is a loan processor?
Sold by zip code, this is often Larry's first exposure to Zillow advertising
What is comarketing?
Largest individual profile spender on Connect
Who is Tim Potempa? (MTV $423K)
The set of laws and guidelines that regulate Larry and protect consumer's best interested.
What is RESPA?
Reserved only for past or current military.
What is a VA loan?
What is a realtor?
Typically sold to multiple lenders, unless they pay extra for a period of exclusivity.
What are Lending Tree leads?
This company spends more that $230K per month on Connect
What is Great Western?
The common term describing Larry's payout per closed loan.
What is a basis point?
A government-backed loan where you typically only need to bring 3.5% down and can qualify with credit down to 580.
What is an FHA loan?
This person determines the value of the home.
What is an appraiser?
This "booming" provider offers a CRM with their leads
What is BoomTown?
This company has the highest number of participating Larrys on Connect
What is Fairway Independent Mortgage Corp?
This 3-letter acronym describes a borrower's monthly cash flow.
What is DTI?
Typically makes sense for a borrower who has 20% down and good credit.
What is a conventional?
This person determines if the application is an acceptable risk for the bank.
What is an underwriter?
This vendor offers a massive audience, more control over budget and pausing, but requires more trial/error, less support.
What is Google?
All 3 NJ-based Larrys on our testimonials page belong to this company
What is Annie-Mac?
This loan is for values higher than that area's "conforming limit".
What is a Jumbo Loan?
Typically issued from private investors at a higher interest rate and shorter term.
What is a hard money loan?
This org. acts as the combined agent of the insurance company, the buyer, the seller, and any other parties related to a real estate transaction.
What is the title company?
This fast-growing provider scrubs leads from various sources, and was acquired by Realtor.com
What is OpCity?
Largest Corporate Profile spender on Connect
Who is Veteran's United?