Date: 09/04/2008

Ocwen Financial Corp. (OCN), one of the nation's leading subprime mortgage providers, has reported that delinquencies have decreased throughout the summer on the subprime mortgages it handles. The decrease seems to be as a result of the company's technology enhanced loan modification program.

Such reports reflect a light at the end of the tunnel in the middle of the subprime crisis and reveal a potential sensible approach to keeping homeowners in their homes while protecting both lenders' and investors' income.

OCN reports that delinquency rates in the 60, 90, and 90+ categories have either decreased or remained level over the last three months. The last three months have been the first sign of steadiness in Ocwen serviced loans since the beginning of the subprime calamity in 2007.

OCN services roughly 350,000 loans through its subsidiary, Ocwen Loan Servicing, LLC; about 85% of those loans are subprime.

"While it's still too early to signal an end to the subprime mortgage crisis," says Ocwen's president Ronald M. Faris, "this represents a welcome reversal of spiking delinquencies."

For more Mortgage News visit www.piffinaincial.com/mortgagenews.php.

For more mortgage news and market updates visit www.piffinancial.com/mortgagenews.php. 

Not necessarily. In fact, if you are a reasonably astute shopper, you will probably do better dealing with a mortgage broker. Mortgage brokers do not add any net cost to the lending process, because they perform functions that would otherwise have to be done by employees of the lender. Furthermore, because mortgage brokers deal with multiple lenders -- in a typical case, 25 to 30, sometimes more -- they can shop for the best terms available on any given day. In addition, they can find the lenders who specialize in various market niches that many other lenders avoid, such as loans to applicants with poor credit ratings, loans to borrowers who do not intend to occupy the property, loans with minimal or no down payment, and so on.

                                        VS.                          

For more information please visit www.piffinancial.com or give us a call at 877-771-7377.

Usually people refinance to save money, either by obtaining a lower interest rate or by reducing the term of the loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts. The decision to refinance can be difficult, since there are several reasons to refinance. However, if you are looking to save money, try this calculation:

Calculate the total cost of the refinance Calculate the monthly savings Divide the total cost of the refinance (#1) by the monthly savings (#2). This is the "break even" time. If you own the house longer than this, you will save money by refinancing. Since refinancing is a complex topic, consult a mortgage professional.

For more information on refinancing your property, give us a call at 877-771-7377 or check out our website at www.piffinancial.com

For more Real Estate and Mortgage FAQ's please visit www.piffinancial.com/questions.php.

Please check out our website at www.piffinancial.com then click on the "Proud Partners" tab and you will find a page that looks similar to this.  We will be constantly adding new business's to this section so check back frequently.  You will also find many other useful resources at www.piffinancial.com.  If you have any questions please feel free to give us a call at 925-828-0302.  Also, any comments to help us improve our website are greatly appreciated.  Please don't be scared to call, we are a no pressure brokerage and we will not hound you to refinance or buy real estate.

	Please click any of the pictures or logo's for direct link
	Anni Hagfeldt Alain Pinel Realtors 900 Main Street  Pleasanton, CA 94566  Phone: 925-417-8627 anni@apr.com www.annihagfeldt.com
	Daniela DelValle Affinity Appraisals Serving Contra Costa & Alameda County Phone: 510-919-4707 Fax: 925-905-5233 affinityappraisal@gmail.com
	Tim Huether Huether Insurance Agency 319 Diablo Road, Ste. 100 Danville, CA 94526 Phone: 925-820-8432 Fax: 925-820-8619 tim@huetherinsurance.com
	Katie Farthing Arbonne International Phone: 925-989-2642 katie.farthing@yahoo.com www.arbonne.com Skin Care, Vitamins, Color, Weight Loss, Aromatherapy and Much More! Call Katie, let her know Pay It Forward sent you and you will receive 25% off of your order!
	Jeff Hamilton Kits 4 Disaster Survival Phone: 888-510-0678 Fax: 925-292-2739 jhamilton@ehamiltonenterprises.com www.kits4disastersurvival.com When checking out, enter coupon code "PayItForward" to receive 10% off of your order!
	Dana Marazzito Toyota 101 525 East Bayshore Road Redwood City, CA 94063 Phone: 877-203-4383 Fax: 650-364-9068 danamarazzito@toyota101.com www.toyota101.com
	Kenneth Bergquist Stoddard, Bergquist, Wood & Anderson, LLP 1470 Maria Lane, Suite 300 Walnut Creek, CA 94596 Phone: 925-938-6100 Fax: 925-938-4354 krb@wcjuris.com www.wcjuris.com

Drive Sensibly

Aggressive driving (speeding, rapid acceleration and braking) wastes gas. It can lower your gas mileage by 33 percent at highway speeds and by 5 percent around town. Sensible driving is also safer for you and others, so you may save more than gas money.

Observe the Speed Limit

While each vehicle reaches its optimal fuel economy at a different speed (or range of speeds), gas mileage usually decreases rapidly at speeds above 60 mph.

You can assume that each 5 mph you drive over 60 mph is like paying an additional $0.30 per gallon for gas.

Observing the speed limit is also safer.

Remove Excess Weight

Avoid keeping unnecessary items in your vehicle, especially heavy ones. An extra 100 pounds in your vehicle could reduce your MPG by up to 2%. The reduction is based on the percentage of extra weight relative to the vehicle's weight and affects smaller vehicles more than larger ones.

Avoid Excessive Idling

Idling gets 0 miles per gallon. Cars with larger engines typically waste more gas at idle than do cars with smaller engines.

Use Cruise Control

Using cruise control on the highway helps you maintain a constant speed and, in most cases, will save gas.

Use Overdrive Gears

When you use overdrive gearing, your car's engine speed goes down. This saves gas and reduces engine wear.

Note: Cost savings are based on an assumed fuel price of $4.08/gallon.

For more information on how to save gas visit http://www.fueleconomy.gov/FEG/drive.shtml.

For information on how you can save hundreds or thousands of dollars a year on your mortgage visit www.piffinancial.com or give us a call at 877-771-7377.

Market Update: 

Manufacturing in New York region dropped 8.7% in June, more than the market-estimated 2% monthly drop. The US Dollar fell against the Euro and Yen. Oil touched a new record of $139.89 a barrel today as investors moved into commodity investments to protect against Dollar depreciation. The national average price for a gallon of regular unleaded gas rose to another record high of $4.077. More than half of the states in the country are paying over $4 a gallon for gas.  The Stock market traded lower, dragged by the soaring oil prices and concerns over the weakening dollar. The Bond market is relatively flat after Friday's late sell off. The current rate sheet pricing is about 0.25 worse compared to that of Friday.

FHA News:

Assistant Secretary for HUD, Brian Montgomery has executed a Waiver of Requirements of 24 CFR 203.39a(b)(2) to support mortgage companies and financial institution's ability to sell foreclosed properties. 

Under the new waiver, mortgage companies and financial institutions will no longer be required to keep properties vacant for 90 days before reselling. Prior to the waiver, the existing HUD policy only allowed state/ federal chartered banks and savings and loans the ability to sell properties without waiting the required 90 days. The temporary waiver, which was signed on June 10th will expire in 1 year.

For more Mortgage News visit www.piffinancial.com/mortgagenews.php.