Dan's Blog

Key to Success...Passion

Capstone Mortgage, Inc. — Fri, 19 Dec 2008 13:42:21 -0600

If you interview a number of really successful people, you will find a common thread to the reason for their success. That common thread is passion.

Successful people are driven by passion for their career. Notice the choice of the word career, not job. These people do not view their profession as a job, but as a career. To most, the connotation of the word job is a where they have to go a set number of hours each day to make just enough money to survive. A job does not evoke passion.

Conversely, successful people feel a real passion for their professions. They awaken each morning with a sense of excitement about the opportunities that await them. There is not the feeling of drudgery that many people feel as they head off to their job each day. They are living their dream.

Passions are those emotions that lift your spirit and make your heart sing. Passions help to define your purpose in life. Understanding and acting upon those things in life which you are passionate about creates a synergy that is contagious. That synergy attracts other successful people and fuels success. Doors of opportunity are opened to those people with the courage to act on their passions.

Few people ever take the time to really explore their passions. It is all too easy to get caught up in the daily routine of just making a living. Pushed aside is the time to do only those things that truly make you feel passionate. The sad fact is, lack of time or money is not the reason most people do not follow their passions. They are afraid to step outside their comfort zone. They are afraid to take a chance on themselves. Regardless of how unfulfilled their life may be, it is easier to maintain the status quo than to risk following their passions.

What would your life be like if you made the choice to only do those things you are passionate about? Would you welcome each day? Would you achievements mean more? Would your life be enriched? Would your soul sing?

Take the time to write down what you think you are passionate about. After you have written them down, spend some time examining them. Once you have explored the validity of your passions, be willing to step outside your comfort zone and follow them. Live your dream!

http://www.dreamcatcherathome.com

What the heck am I doing?

Capstone Mortgage, Inc. — Mon, 08 Dec 2008 13:16:29 -0600

I'm sure you have all heard the old quote, "to get what you have never had, you must do what you have never done." It's probably never been more appropriate than now.

I'm constantly amazed when people talk about not having business. When questioned about what they are doing to drive business the response is usually aomething along the lines of, "I'm doing the same things I've always done." Sure, the economic times are making it tougher on all of us. But maybe we should be looking at our daily activities more closely now than ever. The same old things are not going to give the results we want.

I doubt any of us can thrive in these times unless we are willing to make adjustments to what we have done in the past to gain market share. We can sit around and do all of the same old things, or we can explore other ideas and try new things.

As we are reviewing our goals, we need to look at the steps to achieving those goals. We need to evaluate each step. Are we reaching our goals? Are we following the same steps we have always used to attain the goals we have set? If we aren't reaching our goals, are we willing to try something new?

Wallowing in self pity about how bad things are isn't productive. Wouldn't we be much better served expending that energy in thinking of new ideas? Of course, just thinking isn't enough. Without implementation, any great idea or thought is worthless. Act on those ideas. Don't be afraid to try something new.

A knowledgeable person is one who knows they could accomplish more. A wise person is one who does something about it.

Credit Crunch

Capstone Mortgage, Inc. — Wed, 03 Dec 2008 11:17:54 -0600

There is a lot of speculation that the credit crunch is going to tighten further. I'm already seeing it in the mortgage industry. Credit scores are dropping.

People with good credit are beginning to be affected. The credit companies are tightening their requirements in general. The biggest problems I am seeing is that available balances on credit lines and credit cards are being reduced.

As the gap between available credit and outstanding balances close, scores are being adversely affected. It is making it appear that borrowers are maxed out on their credit cards and lines of credit. It is not just the lower credit score customers being affected. In some cases, people that have never missed a payment on anything are having their available credit limits slashed. With the current rating systems in place by the credit reporting agencies this causes scores to drop.

It seems that we hear about all of the large companies at least having some form of government sponsored (our tax dollars) relief. Many small companies are not so fortunate. The credit lines they have depended on to operate their businesses are also being cut. It is going to make it tougher and tougher for the small business owner to survive.

As all of you, I am painfully aware of the housing difficulties. Falling home prices, restrictions on available loan programs and insecurities in the economy are all difficult situations. I can only hope that some of our leaders recognize the impact the credit crunch is going to have on an already faltering market and address it aggressively.

http://www.dreamcatcherathome.com

Death of the Mortgage Broker?

Capstone Mortgage, Inc. — Wed, 03 Dec 2008 08:09:51 -0600

Mortgage brokers are becoming a dying breed. Across the nation, mortgage brokers are finding it more and more difficult to survive. During the beginning of the mortgage industry debacle, many of the problems within the industry were laid at the brokers' feet. Commonly cited reasons for the meltdown were exorbitant fees, higher interest rates than necessary and putting borrowers in homes they could not afford.

In the vast majority of cases, these claims were unfounded. As the mortgage crisis has continued, it has become pretty clear that the brokers are not the ones to blame. It was not the broker that pushed for programs for borrowers that were not credit worthy. Fannie Mae and Freddie Mac, at the urging of our government, pushed for programs that allowed borrowers to buy homes with little or no down payment.

Programs were developed that allowed for borrowers with low income or income that could not be proven by traditional methods to buy homes. Common sense rules about debt to income requirements fell by the wayside. Borrowers could state an income that sounded reasonable and even state the assets necessary to close their loans.

Interest only loans were made available. None of the borrowers' payment went toward principal reduction of the mortgage. While that may be fine in a time of quickly appreciating home prices, it is devastating in times when home prices are falling.

There were even loan programs developed that allowed the borrowers the option of how they would repay their mortgages. The borrower could elect whether to pay a fully amortizing payment, an interest only payment, or a minimum payment that was even less than the interest only payment. This last option resulted in a negative amortization. Again, that works if home values are appreciating at a rate fast enough to offset the negative amortization.

It was not the mortgage broker that developed these programs. These programs were made available by the big lenders and the brokers were encouraged to use them. Now, many mortgage brokers find themselves struggling to survive because of the faltering mortgage industry.

Will the mortgage industry turn around? In time it probably will. People whose livelihood is dependent on this industry can only hope that prudent measures are practiced to insure this never happens again.

In the interim, many brokers and loan officers are being forced to search for ways to supplement or replace their incomes. Home based businesses and network marketing can offer viable solutions. Many of the skills honed for years in the mortgage industry can be used in these endeavors.

Go to http://www.dreamcatcherathome.com to see one opportunity.

Thanksgiving! A time to be thankful!

Capstone Mortgage, Inc. — Tue, 25 Nov 2008 09:07:05 -0600

I guess it might be pretty easy to be less than enthusiastic this Thanksgiving. Things in the real estate and mortgage worlds have not been easy. However, I am very thankful! All of my children and their families will join us for our Thanksgiving meal. I'll get to see my beautiful grand children and see the unconditional love they have for me in their eyes. Me, with grand children? How can that be? Shouldn't my own children still be babies themselves? Where did the time go?

My wife, though tired from all the preparations and cooking, will be thrilled. Our family is here! Our little brood has certainly increased. There will be delisious food to eat, football games to be watched, and a play room filled with happy, healthy children gathered around a train table or playing with dolls.

I'll get to hear, "Pop, will you play with me? Pop, will you fix this? Pop, will you hold me?" Of course, the answer will always be the same, yes I will. I'll get to hear Bob the Builder and Barney movies play over and over.

After the conventional Thanksgiving prayer, I'll get to hear some not so conventional ones. My gand children's prayers may not be as eloquent as some, but their simplicity and sincerity will make me cry...they always do.

After the meal, I will get to sit back and listen to my children. I'll hear how my daughter's doctoral program is nearing its end, how my daughter's clients are driving her crazy in her design business and how my son's business is growing. Can these really be the same children that what seems like just days before wanted me to wrestle with them, play dolls with them, wanted me to build something or just read a story to them?

Yes, I'm truly living a life of abundance! I'm blessed well beyond what anyone deserves and I am very thankful!

http://www.dreamcatcherathome.com

Quote of the day

Capstone Mortgage, Inc. — Mon, 24 Nov 2008 07:42:06 -0600

"Courage means to keep working a relationship, to continue seeking solutions to difficult problems, and to stay focused during stressful periods."
- Denis Waitley

5 Things

Capstone Mortgage, Inc. — Fri, 21 Nov 2008 12:05:18 -0600

I'm sure you all know the things you need to do to be succesful. I wanted to share a few things that help me. Whether your field is real estate or mortgages, the principals are really the same.

1. Spend a few minutes every day in personal development. Take the time for yourself to improve your mind, your health, your business acumen or maybe just your attitude. You owe it to yourself to be the best you can be.

2. Meditate and visualize. It only takes a few minutes and really helps develope a positive attitude. Keep your goals in front of you and spend just a few minutes visualizing the goals.

3. Work your business. Make sure that you spend productive time actually working your business. Notice, I said productive time. Too often we can get caught up in busy work that really ahs little to do with making our business a success.

4. Expect follow-up and leadership from others. Hold those you work with and even for accountable. Your follow up doesn't mean much if you don't expect the same kind of diligence from your support staff, the ownership of your company and maybe even your clients.

5. Mastermind. Spend some time each day around successful people. Find out esactly what it is that makes their business a success. We don't have to reinvent the wheel with everything we do. It really is okay to copy what successful people do.

http://www.dreamcatcherathome.com

Quote of the day

Capstone Mortgage, Inc. — Fri, 21 Nov 2008 07:14:46 -0600

As I was preparing to send out my non-conforming rate sheet this morning, I was going through the multitude of quotes I scan every morning. I always try to find something that is meaningful and uplifting. I came across one that seems to fit the "times" in which we find ourselves.

"Bear in mind, if you are going to amount to anything, that your success does not depend upon the brilliancy and the impetuosity with which you take hold, but upon the ever lasting and sanctified buldoggedness with which you hang on after you have taken hold."
Dr. A. B. Meldrum

We always have a choice. We can choose to bury our heads in the sand, wring our hands and have a woe is me attitude. Or, we can dig in, hang on and be tough. We can be positive about what we are doing and vow to persevere through these "times".

http://www.dreamcatcherathome.com

POWER OF POSITIVES

Capstone Mortgage, Inc. — Thu, 20 Nov 2008 11:30:32 -0600

It's so easy for us to get caught up in all the negatives with which the medai constantly bombards us. I've made up my mind that I am going to do my very best to focus on positives.

Out words are so powerful. For many of us, our primary sources of conversation are via the telephone or e-mail. It's been pretty surprising to me just how often I'm negative in my conversations. Too many no I can't do that, no that won't work for this loan program, or "you're borrower has a (fill in the blank) credit score and you want 95% loan to value...you've got to be kidding". Seems like I'm using that last one a lot lately! The reality is that a lot of what is going on in our industry is negative. However, the way we relay the news can have a powerful impact on our message.

I send out a daily rate sheet to my brokers in Alabama and Tennessee. Every morning I come in and spend some time looking for an uplifting quote to paste into the body of the e-mail. I've been surprised by the number of phone calls and returned e-mail's I've received saying how much it is appreciated. Several people have called and said they really didn't have any non-conforming deals to send, but they looked forward to opening the e-mail every morning just to see something inspirational.

The time I spend every morning looking for "just the right quote" has really helped me. Although I only send one quote each day, I read many. It only takes me a few minutes, but I get to fill my thoughts with something positive to start my day.

The positive start also helps put me in the right frame of mind for the rest of the day. It seems to help me with my conversations throughout the day. I find myself trying harder to relay a positive attitude in every situation. My problems seem to be fewer and my blessings more bountiful!

Something as simple as writing this blog lifts me up...makes me focus on the positives. I've even started a new business to supplement my income and it's being blessed also! I would encourage you to spend just a few minutes everyday focusing on the positives and counting your blessings.

http://www.dreamcatcherathome.com

Writing Your Goals

Capstone Mortgage, Inc. — Wed, 19 Nov 2008 13:18:10 -0600

Like many of you, I have heard over the years how important it is to write your goals. I've done it several times. Looking back, it amazes me how much more successful I've been during the times I've actually written my goals down. I think we all have some idea of what our goals are...somewhere in the recesses of our mind we "think" we know what we want. Over the past few weeks I've been very introspective about my goals. I've actually taken the time to write them down and make sure I keep them in focus.

Like me, I'm sure most of you have read or heard the steps to follow in writing your goals. While what I'm sharing certainly isn't new, it might be helpful to see what I did. Again, it's really nothing new, but I think we all need to be reminded at times to help us focus on our ambitions.

I started with a master list...anything I could think of as a goal. It was comprised of pretty typical things. Walk closer with God, make more money, have more time for my family, have more time for myself. I really let myself go and wrote down everything I could think of. When I finished this "master" list, I spent time thinking about each one of them. I asked myself it that goal was really something I wanted, or just something to throw on paper. It kind of surprised me as I whittled the list down. I didn't really want all the things I thought I did. I ended up with 12 goals.

Next, I did all the things with those goals we're told to do "by the experts'. I wrote them in the positive, I wrote them as if I had already acheived them. I was very specific and made sure they were constantly in view (at work, in my car and at home). I even went into my e-mail and set the goals up as a reminder that showed up everymorning as soon as I turned on my computer. I really wanted them visible.

With that accomplished, I took my next step. I set up a set of very short term goals for each of the 12 goals on my master list. Again, I started by writing down everything I could think of to make sure I acheived the master goals. I then went to work paring down the short term goals. I made sure that each of the short term goals were attainable and viable to the main goal. I was very specific. It really helped me to break down my big goals into small incremental steps. The sense of achievement as I've been able to check off some of the short term goals has been incredible!

The last thing I did was to promise myself I would spend just a couple of minutes each night reflecting on my goals. I ask myself a couple of questions. Was my time today productive in striving to achieve my goals? Did I do my very best with every conversation I had today to try to be uplifting to the person to whom I was speaking? Like I said, it only takes a couple of minutes and it has really helped me to stay more focused. The main thing though is the sense of peace I have as I go to sleep every night. It truly has helped me to be more focused, more positive and more energized.

http://www.dreamcatcherathome.com

Mortgage Trends

Capstone Mortgage, Inc. — Wed, 19 Nov 2008 09:11:10 -0600

What is going on in this crazy market? It seems that it is getting harder and harder to find borrower's that actually qualify for a loan. I quess we were all a little spoiled over the past few years. The market was good. There were loan programs available that virtually anyone could be approved for. That's all changed. It seems that there is plenty of blame to go around for the weak economy. It appears that this down turn in the market is going to last a while. I quess the real question is...what do we all do to survive?

I believe we all have to do our part to begin to change the attitude not only in our industry, but in our country. We are constantly bombarded with "bad" news. The media is having a field day in reporting just how bad everything is. While there is truth in that, the reality is that there are still homes being sold, there are still loans being made and there are still people refinancing their homes. Sure, the programs available are not as abundant as they once were. Credit scores are being adversly affected by available credit limits being cut. There are lots of reasons we can wallow in the sorrows of the changing economy. If we allow that, we are only contributing to the problems. Instead, why don't we decide to follow the simple rules of the Laws of Attraction. Let's begin to focus on creating a positive atmoshere. Let's concentrate on building a synergy of positive thinking people working together to change our industry. I know that individually we can't change what our government, Fannie and Freddie, or the big lenders do. But, if we can slowly change our own thinking, focus on the positives and not all of the negatives have constantly thrown in our faces...maybe we can help turn things around.

From what I'm hearing from the many brokers I talk to everyday, FHA is still going pretty strong. USDA loans seem to be working pretty smoothly in the areas they are available. We are still able to offer non-conforming loans for those people that don't qualify for conventional, FHA or USDA loans. We even have a bank statement program for self employed borrowers with business liscenses. The bank statement program requires a 650 credit score and can be used for the purchase or refinance of a primary residence. It's great for those people that can prove their income by providing 12 months of personal bank statements.

If you are looking for other business opportunities to supplement your income, feel free to visit my website at http://www.dreamcatcherathome.com

real estate blog business opportunity to supplement income

Capstone Mortgage, Inc. — Tue, 18 Nov 2008 16:08:44 -0600

Like many in our industry, I have looked at ways to supplement my income during the slow times. The internet can make a lot of opportunities sound so good. I spent a good bit of time exploring, searching for something. I realized I had to define my goals clearly. I wasn't looking for one of those deals where for only $29.99 I could make $2000/week in my spare time. I guess I've been around too long to fall for that. Any business, whether a brick and mortar or internet based, requires an investment...both time and money. I spent a lot of times clarifying my goals. I was a little surprised with what I came up with:

1. a business that offered a good return on my investment

2. a business that offered a good product

3. a business that offered a residual income stream

4. a business that would pay me what I thought my time and effort was worth

5. a business that allowed me to continue my present mortgage business

I was lucky. I was able to find a home based business that gave me all of those things. Not only that, I was able to find a business where I actually knew someone that was doing it and being very successful. Someone that had been in the mortgage business and in his words, "found a better way".

If any of you are looking for something to supplement your income in these down times, take your time and define what you might want out of other business opportunities. Talk with people, do your research and most importantly have realistic expectations. I think we all know that anything you do is only worth what you're willing to put into it.

http://www.dreamcatcherathome.com

business opportunity

Capstone Mortgage, Inc. — Tue, 18 Nov 2008 15:08:47 -0600

1. a business that offered a good return on my investment

2. a business that offered a good product

3. a business that offered a residual income stream

4. a business that would pay me what I thought my time and effort was worth

5. a business that allowed me to continue my present mortgage business

http://www.dreamcatcherathome.com

apathy in the mortgage industry

Capstone Mortgage, Inc. — Mon, 03 Nov 2008 09:20:26 -0600

After months of constantly being bombarded with "bad news", it's pretty easy to see why a sense of apathy seems to exist in our industry. The economy is bad, investors are changing all there programs or going out of business, home values are decreasing, there's a presidential election. All of these things are true...it's tough. Maybe its up to us, the brokers, loan officers and realtors, to start changing the mood. Maybe we need to view each day as an opportunity to make things better, to have a more positive attitude, to uplift each other. Sure things have changed...loan to values have been decreased, credit score requirements have gotten higher and qualifying borrowers or buyers has gotten tougher. We still have opportunities. If any of you have any buyers or borrowers have less than perfect credit contact me at dchambless@bakergp.com. I'll try to help any way I possibly can. Let's bring our industry back!

Bank Statement Program for Alabama and Tennessee

Capstone Mortgage, Inc. — Wed, 08 Oct 2008 08:18:12 -0500

If you have a borrower that needs a bank statement program to qualify for a home loan...we have it! Our bank statement program is for self employed borrowers (must have a business license for two years). The credit score requirement is 650. Twelve months personal bank statements are used to qualify for income. The bank statement program is for the purchase or refinance of a primary residence. The maximum loan to value is 85%. Please feel free to contact me at dchambless@bakergp.com or call me at (205) 987-3431 for more information about this program. We make loans in Alabama and Tennessee.

Bank Statement Program

Capstone Mortgage, Inc. — Wed, 08 Oct 2008 08:16:08 -0500

questions about sub-prime mortgages

Capstone Mortgage, Inc. — Mon, 06 Oct 2008 11:36:12 -0500

Looking for a sub-prime mortgage in Alabama or Tennessee? We can help! Baker Group is a wholesale mortgage lender in Birmingham, AL. Please feel free to contact me at dchambless@bakergp.com or call me at (205) 987-3431. I will be happy to send you a copy or our rate sheet and a submission sheet.

Mortgages in Tennessee

Capstone Mortgage, Inc. — Mon, 06 Oct 2008 11:24:23 -0500

Hello to the Active Rain community! I joined this site last week and this is my first blog. Baker Group is a wholesale motge company located in Birmingham, AL. Our lending area is Alabama and Tennessee. We offer mortgage loans to people with less than perfect credit. As Fannie Mae and Freddie Mac continue to tighten up, we've found that these loans are even advantageous to some borrower's that previously would qualify for Fannie or Freddie loans. Our max LTV is 90% and we have programs for credit scores as low as 500 (with a max ltv of 75% for purchases or rate and term refinances). Please feel free to e-mail me at dchambless@bakergp.com for rate sheets. My direct line number is (205) 987-3431. Let us help you close more loans!

mortgages in Alabama

Capstone Mortgage, Inc. — Mon, 06 Oct 2008 11:23:35 -0500

Tennessee sub-prime loans

Capstone Mortgage, Inc. — Mon, 06 Oct 2008 11:18:06 -0500

Alabama sub-prime loans

Capstone Mortgage, Inc. — Mon, 06 Oct 2008 11:17:41 -0500

Need a sub-prime mortgage?

Capstone Mortgage, Inc. — Mon, 06 Oct 2008 11:16:18 -0500

mortgages in Alabama and Tennessee

Capstone Mortgage, Inc. — Mon, 06 Oct 2008 11:15:16 -0500

sub-prime loans

Capstone Mortgage, Inc. — Mon, 06 Oct 2008 10:09:49 -0500