It seems as though the economy is already beginning to show signs of improvement. A recovery, albeit slow, is already beginning to happen in both the financial and the broader markets. As you saw this week, rates jumped from Tuesday to Friday by almost 38 bps on the 10 year yield, which cost you almost two points in yield. Are you upset? Don't be, and here is why. We like low rates, and your clients love them, especially on the rate and term refi side, which is where most of us have been getting our business the last 6 months due to appraisal issues, rate hits from Fannie and Freddie, ...

Good credit will basically roll out the red carpet and open the door to the bank for you as if you were the Great Gatsby himself. It's your umbrella during this economic thunder storm, as you watch others get drenched in financial stress and discomfort. In order to stay as dry as possible, you must continuously maintain an above average credit score. FYI, in todays market that would be about 720! For some this is a simple task, but most find this very difficult to accomplish. However, those who do keep their credit flawless will enjoy a more pleasant financial journey. Whether ...

Traditional loan officers and mortgage planners have obvious similarities. Although both processes result in a mortgage transaction, MP's focus on the long-term relationship and financial well-being of the homeowner. TLO's focus on the transaction--getting the loan closed and moving on. TLO Objectives: Transaction speed Taking applications Measuring units and outcomes MP Objectives: Relationship value Delivering valued advice to earn a trusted relationship Measuring margin and key performance indicators So when you are ready to purchase your first home, ...

The media has a way of shaping our thoughts, and our imagination. If you listen to the news long enough you will think we are headed for living in a cave. Subprime, Credit crunch, housing bubble, exotic-ARM, Jumbo, write down, blah, blah, blah. Buzzwords are all the rage in the media and our mortgage industry is the new red-headed step child. You need a dictionary just to keep up with the news cast and you can't go anywhere in public without an overnight expert telling you how we are headed for financial Armageddon. Every industry is cyclical and we often forget that but the ...

(Thanks Government!) Within the past couple years our federal government tried to help out our veterans by putting the Certificate of Eligibility online for supposed easier access. Mission Failed. I, myself had a veteran father who served in the Air Force his entire life and just out of curiosity I tried to jump online and get his ACE (Automated Certificate of Eligibility), and it was like storming the beaches of Normandy! Not an easy task. I consider myself pretty internet-savvy when it comes to most things; I could not find any website with the actual steps and procedures ...

GET IT RIGHT ABOUT REVERSE MORTGAGES!!!! Yep, it's true, there are some pretty significant fee's associated with reverse mortgages. As compared to "forward" mortgages, these fees seem out of character and have all the elements of STICKER SHOCK! But, let's get some clarity. All the barking in the press about the fees is usually unbalanced and doesn't measure the extreme and sometimes life saving benefits brought to our senior borrowers. These seniors are saved, yes saved, from having to choose between moving out, paying for medicine, and even loosing their homes because taxes and other ...