Patience is a virtue...especially these days! - 01/29/09 06:53 PM
Hello everyone! I hope you day is fruitful. I was just thinking (always a scary thought!) about the fact that it's taking us loan officers of the world longer to get loans done. It's due to a combination of factors. Yes, refinance volume is high and I expect it to stay that way for the first half of the year as rates seesaw up and down. Also, there are less of all of us to handle the increased volume. There are fewer appraisers, underwriters, title people, etc. etc. The backlog at my office means most of the time we're locking loans … (4 comments)

Could mortgage rates go lower still? Hmmm...I wonder. - 01/27/09 02:18 PM
Good morning: I read a very interesting article this morning that talked about how the difference between the 10 year treasury note yield and mortgage rates is currently at 2.5%. In a normal market, the difference would be 1.75%. With mortgage rates currently right around 5%, is it possible they may dip as much as .75% lower if lending conditions improve? I think so.
Right now the big lending institutions are trying to see if there is a normal market for paper money as opposed to the government having to guarantee everything. For all practical purposes the free market seized up … (2 comments)

Pacific Northwest Market Report 2009 - 01/25/09 10:28 AM
Good morning all: I hope you're enjoying your weekend! For so long, people seemed to be crowing up here in the Northwest that we had dodged a bullet. That we were more immune to the national downturn going on. I always wondered. After all, we're usually the last to get hit.
With the advent of the New Year came the announcement that Microsoft was laying off 5,000 workers over the next 18 months and Starbucks may lay off up to a third of it's corporate staff. This tells me that the national slowdown has finally hit us. Granted, real estate has … (9 comments)

My take on loan modifications - 01/22/09 05:49 PM
Hello all: Part of my continuing education the end of last year was to take a class on loan modifications. This is becoming a big business these days. The one thing I always felt was that the consumer needed to be careful about who they signed up with to do a loan modification. In fact, most of the time this can be done directly through the lender. I know this may offend some of you who offer this as a service. I'm sorry and hope that you're working on behalf of your client and not lining your own back pocket!
So … (4 comments)

Two weeks into the New Year and it looks promising! - 01/18/09 08:38 PM
Hello all: I started to write this blog this morning and our power went out! Perhaps it was better to submit it now. I'm two weeks into the New Year with a brand new company and it's working out perfectly. It was a huge decision to switch (I'm not sure anyone does well with change) and I was worried about how I would let all my clients and contacts know about the move. Frankly, I still am but have stayed busy with a postcard, an e-newsletter, an email, and another email set to go out shortly. My whole mission is to … (15 comments)

The New Year means change. What have you decided to do? - 01/03/09 11:25 AM
Good morning: I find myself in my bathrobe this morning thinking about the fact that I'm starting with my brand new company this Monday. And I have to admit I'm pretty excited!
If a person is going to make a change, I think it's a great idea to do it at the first of the year. It's a new beginning. Granted, it's a little scary to do it. In my case, I had to copy alot of the data I had and transport it over to my new workplace. My new employer has been incredibly helpful and this has made me … (19 comments)

Happy New Year! Make 2009 your best one yet! - 01/01/09 10:58 AM
Good morning! And Happy New Year! I would be the first person to admit that 2008 was wacky. A person always starts out optimistic and, although I stayed positive the whole year, I felt like I was in survival mode at the end. I believe this year will be better for all of us in real estate.
I have agreed to switch companies (this will be written about in another post) and will hit a milestone this year by turning 50! I wish all of similar success no matter what you're doing or comes your way. I'd like to hear from you … (8 comments)

 
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Paul McFadden Mortgage Loan Officer Bellevue Washington Home Loans

Bellevue, WA

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The Legacy Group, a division of WJ Bradley Mortgage Capital

Address: 11225 SE 6th St. #110, Bellevue, WA, 98004

Office Phone: (425) 818-2251

Cell Phone: (206) 799-9062

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