ARCHIVED BLOG POSTS
2011
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“The Interest Rate Game” Each time I meet with clients, I give them the option of locking the rate immediately or waiting. I explain in detail, what each option means, so that the client can make the final decision. In the last 6 months 8 out of 10 clients have not locked the rate at the time...
09/07/2011
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“Mega Bank Continues to Make News” None of the news does anything to ease mortgage fears. Every time a consumer reads or sees this type of news, no matter if they understand it or not, it is not good for anyone interested in buying real estate. In the article below, it also talks about the la...
09/06/2011
“Mortgage Brokers No Longer Willing to Take the Fall” This article by Mark Savitt speaks for all mortgage brokers. I have spoken about the appraisal system for months and months. This appraisal system has done more harm to real estate values. One of the major intentions of this regulation was, th...
09/06/2011
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“Changes Coming with USDA” I have been hearing rumors for months about upcoming changes with USDA loans. I’m sure there will be much information to come and will share as it comes along. The intent is that that USDA becomes self sufficient. USDA Plans for Single-Family Loan Program Fees 08/...
09/06/2011
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“Stronger Home Sales this July over last July” The National Association of Realtors (NAR) said it’s July numbers and they are better than last year. NAR’s chief economist says sales activity is UNDERPERFORMING. His reason for the underperforming is that mortgage underwriting standards is a ca...
09/03/2011
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“You Can Only Laugh” The article below by NATIONAL MORTGAGE NEWS, is worth a few moments to read. It talks about S&P’s AAA rating of 242 million of nonprime residential loans. This is a better rating than the agency gave the United States. You can’t make this stuff up. Springleaf Nonprime MBS...
09/03/2011
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“Attention Realtors and Mortgage Companies” New UMDP Appraisal Form Requirements Take Effect. As if the appraisal world doesn’t have enough to deal with. The article below is certainly worth a read. I can certainly see areas that these new requirements with affect all of us, going forward. ...
09/03/2011
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Labor Day is about taking a much-deserved rest in recognition of hard work. We hope you enjoy this time relaxing with friends and loved ones. You deserve it. And if there's anything we can do for you, please let us know. Joe PetrowskyRight Trac Financial GroupPhone: (860) 647-7701(860) 647-77...
09/02/2011
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“No Layoff’s at Right Trac Financial Group” As you can will see from the article, layoffs in the mortgage industry numbers primarily comes from the BIG BANKS. Their hiring and firing process is like Hurricane Irene’s winds. I closed a loan two weeks ago, for a new client, that told me the fol...
09/02/2011
“FDIC Slaps 34 Banks with Penalties and Orders” Can you picture how much press we would see of 34 mortgage companies received penalties? There would be a human outcry, they have caused the subprime fiasco or they caused the real estate bubble. Yet, so little press about 34 banks, how ironic, th...
09/02/2011
