Real estate blog entries tagged with loan by Andrew Scherer - Reverse Mortgages (NRMLA) (Eagle Nationwide Mortgage)

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loan: Countrywide Acquired By Bank Of America - 01/11/08 03:54 PM

In what will probably be the biggest merger of the year in the mortgage industry, Bank of America has purchased Countrywide Financial Co. at the tune of $4 billion.
I have blogged about the various articles that have been released today about this acquisition in my Loan Officer Tips blog. I would love … (7 comments)

loan: Update MY Secondary Blog - 01/09/08 09:33 PM

I wanted to briefly let you all know that I have updated my Loan Officer Sales and Marketing Tips blog. I went a little off topic in the past post with the concept of The 3 F's of Sales, but I am back on track with the Pre-Qualification 2.0 Series with … (3 comments)

loan: New Blog Started - 01/08/08 10:44 AM

Hi Everyone!
I wanted to give you all a quick update on my blogging world. Even though I love the AR community, I was asked by a couple of people within the industry to start a secondary blog about Loan Officer Training. So, I have started the Loan Officer Marketing and Sales … (2 comments)

loan: Getting Into Home Improvements with Your Client - 12/26/07 11:19 PM

Over the past couple of years, equity has been extremely accessible to our clients. Times in our industry are changing with regard to guidelines and lending ability. However, that shouldn't distract your from creating a relationship with your refinance clientele. I have touched on the refinance with debt consolidation clients in … (0 comments)

loan: Questions For A Client: Refinance With Debt Consolidation - 12/20/07 06:07 PM

If you haven't read "Phase 1: Your First Contact With A Client" then please feel free to do so prior to reading this post which is an extension of the first contact.I briefly mentioned that the first contact with your client should be a relationship building experience. You should be getting … (0 comments)

loan: Phase 1: First Contact with Your Client - 12/14/07 07:05 PM

Whether your client has called in, submitted something on the internet in the form of a paper lead, or is a referral they all want to know two things: rate and payment. Right?
It's our job in the mortgage banking and loan origination industry to shift our client's focus from rate to … (2 comments)

loan: Reverse Mortgage (HECM vs Proprietary Bank Program) - 12/06/07 11:59 PM

Over the past couple of days, I have recieved several questions regarding HECM/HECL loans vs. proprietary bank Reverse Mortgages. Here's the deal on these:HECM (Home Equity Conversion Mortgage) or also known as HECL (Home Equity Conversion Loan). These programs are backed by FHA, and typically have significantly high closing costs. These … (0 comments)

loan: Market Preview (Week of November 5) - 11/05/07 09:08 AM

Well, compared to last week's assortment of economic news, this week is going to be a breeze. Being released this week are one quarterly report, and two monthly reports. With regard to importance of these publications, the quarterly takes more precedence. To relate this to mortgage pricing, we will most likely … (0 comments)

loan: Market Update - Lock or Float (November 2) - 11/02/07 01:06 PM

I hope everyone is having a great Friday so far! There has been a lot of news and happenings with regard to the Mortgage Reform and Anti-Predatory Lending Act of 2007. If you haven't read it yet, or heard of it, please do some research and really look into the subject. … (2 comments)

loan: Market Update - Lock or Float (November 1) - 11/01/07 10:22 AM

I would keep floating your loans today as well. I included some pretty informative articles at the bottom of this as well, but here's why I am floating my loans today:
The bond market started out extremely strong this morning (up 29/32) while the stock market is down (Dow by 225,a nd … (0 comments)

loan: Market Update - Lock or Float (October 31) - 10/31/07 11:30 AM

First of all, Happy Halloween, and I hope you all are getting treats (deals and closings) rather than tricks!! I have to say that I feel a lot more confident from yesterday floating my loans. Here's why:
The bonds opened in a negative territory (6/32 down) this morning due to the stronger than … (0 comments)

loan: Market Update - Lock or Float (October 31) - 10/31/07 11:28 AM

loan: Market Update - Lock or Float (October 30) - 10/30/07 10:56 AM

Welcome back, Folks! I apologize for not updating this over the past couple of days; I was in Central/Upstate New York visiting family! Anyway, here is the update for today!
Flat is the only explanation for the bond market today. Contrary to weak economic news releases and the early decreases in the … (1 comments)

loan: Market Update - Lock or Float (October 26) - 10/25/07 12:30 PM

First of all, I apologize for not getting the update out yesterday! I know that a lot of you are reading this, so here is today's:
The bonds opened a little flat even though we experienced relevant economic news yesterday with the existing home sales report. With regard to Wall Street, the Dow … (3 comments)

loan: New Construction - 10/22/07 01:26 PM

I have been getting a lot of requests for New Construction financing. The clients have been telling me that they would have to get the lot first and finance the construction, then they would have to get permanent financing in place. I cannot tell you how relieved they were when I … (5 comments)

loan: Market Update - Lock or Float (October 22) - 10/22/07 11:28 AM

And onto this week, folks. Today's bond market is down a little (3/32) contrary to the stocks dropped more this morning. Currently, Dow is down 52 points and Nasdaq is ahead 2 points (for now). Basically, we are looking at similar rates to Friday.
There are no reports scheduled for publication today that would effect our … (2 comments)

loan: Market Update - Lock or Float (October 16) - 10/16/07 02:59 PM

As a summary, I would still recommend to float all loans that you plan on closing until the actual closing date for right now. Please keep reading for more!
Today's stock market is giong through yet another down period today while the bond market is slightly increasing. The Dow started out 91 … (0 comments)

loan: Family Update - 10/15/07 10:31 PM

I figured that I post enough Real Estate "stuff" that it's time to digress a little bit and really hit home. My son just turned 6 months old, and it's going by extremely fast! At his appointment he was weighed in at 20 lbs 5 ounces (97th percentile), and was 28 … (4 comments)

loan: Market Update - Lock or Float (October 15) - 10/15/07 01:26 PM

Big changes on the lock/float front today. So, tune in, and away we go:
Today started off a little slow with regard to the bond market even though the overall stock market had posted losses. The same can be said for the stock market as of right now; early weakness where the Dow … (0 comments)

loan: Market Update - Lock or Float (October 12) - 10/12/07 09:18 PM

The bond market opened in the negative after mixed economic news this morning. Stock rose slightly with the Dow up 52 and Nasdaq up 26 points. The bond is currently down 6/32, but because of yesterday's showing of strength, there will most likely be a minor improvement in mortgage rates today of approximately … (0 comments)

loan: Construction to perm? Why bother?! - 10/11/07 10:49 PM

There are a lot of loan programs out there in today's market that are meant for buyers who are looking to construct thier own homes. The majority of these loan programs are separated into 2 stages: 1) the construction, and 2) the permanent financing. If they are separated into this, the … (5 comments)

loan: Market Update - Lock or Float (October 11) - 10/11/07 11:16 AM

Thursday's bond market has opened in negative territory following early stock market strength. The stock markets are showing gains with the Dow up 64 and the Nasdaq up 14 points. The bond market is currently down 9/32, which will likely push this morning's mortgage rates higher by approximately .125 of a … (1 comments)

loan: Market Update - Lock or Float (October 10) - 10/10/07 11:56 AM

Wednesday's bond market has opened down slightly despite stock weakness. The stock markets are showing sizable losses with the Dow down 82 and the Nasdaq nearly unchanged. The bond market is currently down 2/32, which will likely push this morning's mortgage rates higher by approximately .125 of a discount point.There is … (2 comments)

loan: Seminar on October 14th - 10/09/07 09:26 PM

This is my final advisory for my upcoming Home Buyer Seminar on October 14th. Granted, there is one held every month, but this will be the first to explore an "inspection section".
This will be held at 970 North Colony Rd in Wallingford, CT 06492 at 2:00 until about 3:30 or so.
I … (1 comments)

loan: Market Update - Lock or Float (October 9th) - 10/09/07 09:05 PM

I apologize for this getting updated so late today! Hopefully you all still get some good information out of it!
Tuesday's bond market has opened slightly in positive territory as investors wait for today's Fed minutes. The stock markets are showing gains with the Dow up 32 points and the Nasdaq up 4 … (2 comments)

loan: Market Update - Lock or Float (October 8th)h - 10/08/07 08:26 PM

This week brings us four factual economic reports for the markets to digest. They are all scheduled for release Thursday and Friday, so the first part of the week will be left mostly up to the stock markets. In addition to the factual reports, we will also get the minutes from … (1 comments)

loan: Market Update - Lock or Float (October 4) - 10/04/07 11:22 AM

Thursday's bond market has opened slightly in positive territory again following the release of weaker than expected manufacturing data. The stock markets are nearly flat with the Dow up 4 points and the Nasdaq up 3 points. The bond market is currently up 5/32, but we will likely still see a … (0 comments)

loan: Market Update - Lock or Float (October 2) - 10/03/07 09:47 AM

Wednesday's bond market has opened slightly in positive territory after the stock markets showed early weakness. The stock markets are posting losses with the Dow down 49 points and the Nasdaq down 12 points. The bond market is currently up 4/32, which with strength later yesterday should improve this morning's mortgage … (0 comments)

loan: Market Update - Lock or Float (October 1) - 10/02/07 10:42 PM

This is a little late for this blog post, but it is a daily thing that I post, so I hope you all enjoy!
Tuesday's bond market has opened in positive territory as yesterday's buying seems to be carrying over to today. There was no relevant economic news scheduled for today, but … (0 comments)

loan: Market Update - Lock or Float (October 1) - 10/01/07 11:15 AM

....And reporting on time for the first time in a couple of days. Here is the market update for October 1st. The lock advisory hasn't changed - still locking for closings within 20 days.
Monday's bond market has opened in positive territory following a weaker than expected manufacturing related report. The stock … (4 comments)

loan: Market Preview (Week of October 1st) - 10/01/07 06:57 AM

Good morning everyone. Here is a brief intro to this week. The lock/float advice has changed slightly. I look forawrd to hearing from you all!
This week brings us the release of only three monthly economic reports for the bond market to digest. The first report of the week comes late tomorrow … (3 comments)

loan: Weekend Reading - 09/29/07 02:32 PM

I found a couple of great articles that were published in Yahoo's finance section. I thought I would share them with you and see if you had any thoughts on them! So, here goes:
There are affordable homes in every state; you just have to look in the right areas to live … (1 comments)

loan: Market Update - Lock or Float (September 28) - 09/28/07 10:26 PM

Hey Everyone,
I apologize for being so late with this! I was working a Fairground today (and surprisingly picked up a lot of business)! Anyway, here is the usual market update! The lock advisory hasn't really changed all too much from yesterday.
Friday's bond market has opened in positive territory despite stronger than … (3 comments)

loan: Market Update - Lock or Float (September 27) - 09/27/07 09:42 PM

Hey Folks, I apologize for this coming out so late! But, here is today's market update and suggestions. Please not that the advice on the lock and float has changed significantly!
Thursday's bond market has opened in positive territory following weaker than expected economic news. None of this morning's data was considered … (0 comments)

loan: Good articles for today! (September 26) - 09/26/07 04:31 PM

I found several great articles that were published! I wanted to share these with you and get your general opinion on them (either just one, or all). So, here they are:
Mortgage Applications Drop While Refinancing IncreasesLoan Modifications for Subprime BorrowersFed Rate Cut has Opposite EffectThese 3 articles were well written in … (1 comments)

loan: Hartford, CT Real Estate - 09/26/07 03:31 PM

Hartford, CT - Real Estate
As one of America's original cities, Hartford was founded in the early 1600's, and later established by Reverend Thomas Hooker in 1636. As a feature stop on the Connecticut River, Hartford grew from what was once known as the "House of Hope" to be one of … (1 comments)

loan: Market Update - Lock or Float (September 26) - 09/26/07 11:08 AM

Wednesday's bond market has opened in negative territory despite weaker than expected economic news. The stock markets are posting sizable gains with the Dow up 80 points and the Nasdaq up 22 points. The bond market is currently down 9/32, which should push this morning's mortgage rates higher by approximately .250 … (1 comments)

loan: Market update - lock or float (September 25th) - 09/25/07 07:22 PM

Tuesday's bond market has opened in positive territory following a much weaker than expected consumer confidence reading. The stock markets are posting moderate gains again with the Dow up 17 points and the Nasdaq up 5 points. The bond market is currently up 8/32, which will likely improve this morning's mortgage … (14 comments)

loan: Gifts as Down Payment! - 09/24/07 08:34 PM

Down payment funding alternatives For many buyers, especially first-time buyers, saving up the funds for the down payment can be a seemingly insurmountable hurdle to home ownership. This doesn't have to be the case. As your mortgage broker, I can help you find creative ways to come up with your down … (20 comments)

loan: Home Buyer Seminar - 09/20/07 10:30 PM

I will be hosting a Home Buyer Seminar on Sunday, October 14th at 2:00 pm. The location is:
970 North Colony Rd in Wallingford, CT.
Clients and Realtors are both welcome! I will have both guest speakers and myself touch on the subjects of:
Real Estate market today - difference between a buyer's market … (3 comments)

loan: What is a Reverse Mortgage? - 09/17/07 09:57 PM

A Reverse Mortgage is one of the most misconstrued products that enders offers. This post is meant primarily to give you an overview of what a Reverse Mortgage is and dispel and myths or misconceptions out there. Click here to visit the AARP sponsored site on Reverse Mortgages.
First of all, what … (1 comments)

loan: Attention Realtors: Question for you! - 09/12/07 10:19 PM

I need a quick favor from all the Realtors out there. I have been in the industry for a little under 4 years now, and I am just starting to get into the Business to Business training of other LO's.
I need some good advice for them as I know, obviously, that … (0 comments)

loan: Monday Wrapup - 09/10/07 04:41 PM

Monday is officially closed for business here on the East Coast. So, here is a breakdown of what happened today:
Joseph Lewis now owns 7% of Bear Stearns' after a large share purchase which points to his confidence in a market upswing. There are rumors at this point in time that he … (0 comments)

loan: Mid-Monday Mixup - 09/10/07 10:51 AM

Here is Monday, September 11th's mid-day update on the market...
With anxious investors waiting for the big date (September 18th when the Fed will meet again), the Dow started to rise this morning, but was rudely shaken and started to drop based on information provided by Fed members. The bond is also … (6 comments)

loan: This week ahead (September 10th) - 09/09/07 11:46 PM

News articles are already out even before the beginning of the week starts. Everyone says that they have the case of "the Monday's", but it will be so very true after tomorrow.
There is approx. 6.5 trading sessions prior to the much anticipated Federal Reserve meeting. Investors galore are pining for a … (0 comments)

loan: Weekend Wrapup for Real Estate - 09/08/07 01:56 PM

The first week of September, though short, was truly a roller coaster ride. Rates were jumping up and down like jumping beans, and news articles were published left and right about the Fed dropping rates and also about job cuts. Here is a brief summary of the past week:
Tuesday, September 4, … (5 comments)

loan: No Cost Loans - Are they really worth it?? - 09/07/07 03:36 PM

We have all heard the countless advertisements and discussions on home loans with absolutely no fees. In fact, there is a discussion post as to why the lenders don't pay the fees themselves. The later is a whole different topic. I want to enter into the debate now of whether it's … (2 comments)

loan: 100% Alternative for Sub-Prime - 08/26/07 03:01 PM

Hello folks,
For the second week of this here information blog, I would like to think a little "outside the box" for you folks FHA certified and needing 100%.
As we all well know, the entire market is cracking down on 100% financing for sub-prime borrowers. I have gotten loans through via Fannie … (2 comments)

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