dave woodson: H2O OK!
- 03/14/08 09:44 AM
We all love to drink water, some in our scotch, out of a bottle bought at the local market for more than $12 a gallon or straight from the tap. I am tap guy, grew up on well water, still drink from the tap today. There has been a scare here of recent days and weeks from national reports that we do not have safe water from DRUGS.
Drugs such as antibiotics, sex hormones and pain remedies (no wonder my shoulder has been feeling better). In a recent article from the New-Dispatch in Michigan City both Directors from LaPorte and Michigan … (2 comments)
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dave woodson: Carlyle Group Nears Bankruptcy
- 03/13/08 03:29 AM
The Carlyle Capital, a mortgage bond fund, nears bankruptcy when it failed to reach agreement with lenders who demanded more than $400 million for margin call. Mortgage bonds fall as they flood the market with bonds, but I am watching the market as it is still very volatile and has come up quite a bit this week.
Gold has hit a the $1000 per ounce today as well that coupled with oil still at historic highs has the bond and stock market all over the place. I thinking that there is no safe place to hide there are deals to be had on the stock market … (1 comments)
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dave woodson: Drew Estates Cigars
- 03/12/08 02:47 PM
I have never been shy for my love of cigars, Now, Monica and Bill jokes aside. I have smoked cigars since I was in college and more since I have become gainfully employed.
So, this Saturday, March 15th from noon to 8pm in the great city of Merrillville, IN come out and join Drew Estate Representative Perez Knight for GREAT deals on all Drew Estate Cigars. Buy three get one free, and special gifts for box purchases of 20 count of higher.
I have never been to Karma, but a couple college buddies and are getting together to make a day … (3 comments)
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dave woodson: The Mad Mortgage Machine Minute
- 03/12/08 06:23 AM
We are seeing a nice run up in the bonds as they enjoy the infusion of cash from the new gov't program or as they call it liquidity crunch management tool. The Term Securities Lending Facility (TSLF) will give banks access to $200 billion dollars and take less than desirable mortgage back securities as collateral. Sounds like a bailout to me, but hey it is giving us a nice run up in bonds over the last two day.
I know better to get comfortable and I am probably jinxing myself here, but I am liking the middle of the week. Volatility is … (1 comments)
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dave woodson: 9 Primary Elements of Self-Leadership - Self-Observation
- 03/09/08 02:01 PM
I know it has been a while since I have done these. I had a real hard time with this one. I have never been one to look at myself with a critical eye until recently. I had let myself skate too long letting my success or failure be on someone else. I took a long look at myself. I took notes and am making the necessary changes.
I am calling every lead like it the last lead that I will ever get or until they tell me to quit calling them.
I am following up on every person that I … (0 comments)
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dave woodson: The Penny Must Die - NOW
- 03/08/08 12:15 AM
I just read an article about the penny and the drag that is has on our US economy.
1. it cost more to make than it is worth
before 1983 the penny cost about .08 cents to make, but since 1983 it cost about 1.2 cents to make and at times it shot up to 1.7 cents since the materials zinc and copper used to make the penny fluctuate in price. When it was at .08 it actually made money for the US Govt.
2. Goods & Services will be cheaper
Think of it this way, when you go to buy something at … (12 comments)
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dave woodson: All over the place it is...Volatile Part 2
- 03/07/08 12:23 AM
As you may have read in yesterdays Mad Mortgage Minute the FNMA 30 year 5.5 bond was down 103bps. I said that we could see a reversal today. Well, I am the MAN...as of right now and this is right now, it all could come crashing back down to earth in mere moments, but we are up 94bps. So, in yesterdays blog post, those loan officers that were in a pickle may be able to dig themselves out of a hole just a wee little bit.
We are expecting a weaker than expected jobs number and so that is helping push the … (1 comments)
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dave woodson: NEW FHA Loan Limits
- 03/06/08 04:26 AM
This is nationwide, but I am only focusing on my back yard. If you want information for your area please visit HUD.
LaPorte & Starke Counties - One Family Two-Family Three-Family Four-Family
FHA Loan Limit $271,050 $347,000 $419,400 $521,250
Porter & Lake Counties - One Family Two-Family Three-Family Four-Family
FHA Loan Limit $410,000 $524,850 $634,450 $788,450
The new loan limits will remain in effect until December 31, 2008
If you have any questions please feel free to give me a call @ (219)872-8000 ext. 106
Though this has been agreed upon for sometime. It was all up in the air till HUD decided what they wanted to do for sure. The good … (7 comments)
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dave woodson: In the kitchen with...Me
- 03/05/08 01:21 PM
I love to cook and this week I get to show it off to everyone who reads the Herald-Argus. I am the Chef of the Week. It is called Boboli Dave Style.
Dave Woodson of Michigan CityDave e-mailed to share this recipe favorite of his from college days.
."Not for the weak or the young - very hot and spicy," Dave said.BOBOLI DAVE STYLE1 steakOpen Pit barbecue sauce1 Boboli pizza shell garlic - use as much as you like - I prefer 4 or 5 clovesgiardeneria - hot, but mild will workTabasco sauce- as much or as little as you likespices - if … (2 comments)
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dave woodson: Referral from a National Lender
- 03/04/08 03:45 AM
I was in my office yesterday with my sick girl before we came home and got her into bed and some hot soup. I was trying to get out of the office when I received a call from a manufactured home builder that is about 45 miles from me. she told me that she was referred to me by a person from a national lender.
Well, we talked, I found out what she was looking for and then I went back to the person that referred me. I was intrigued. She told me who it was and I had no clue … (5 comments)
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dave woodson: DownPayment Wins
- 03/03/08 11:06 AM
To be clear, the U.S. Department of Housing and Urban Development's (HUD) rule to ban private downpayment assistance as proposed in the "Standards for Mortgagor's Investment in Mortgaged Property" regulation published October 1, 2007, is permanently set aside.
This is a great victory for all of us that rely on the Down Payment Assitance and FHA as way to service our clients. Since, most mortgage insurance companies refuse to insure 100% LTV Fannie or Freddie products this is still a great way to get a client into a home with little or no money down.
There are still many other ways to use … (1 comments)
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dave woodson: FHA Loan Limit for NW Indiana
- 02/29/08 03:38 AM
I am getting this out early and I am about 99% sure this will affect us all in NW Indiana.
In the areas where the median home price is above $583,800, the maximum FHA loan limit will be $729,750. HUD has indicated. In areas where the median price is below $216,840, the FHA limit will be $271,050."
It is a for gone conclusion, all FHA loans will fall in between $271,050 and $729,750.
This will only be in affect till December 31, 2008, unless there is an Act of Congress.
If you have any questions feel free to call me or visit my website. … (3 comments)
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dave woodson: Mad Mortgage Minute
- 02/28/08 01:12 AM
Weak data will push the mortgage bonds up and over the 100 Day Moving Average - currently up 50 bps. Some other data today:
Sprint Nextel posts a $29.5 billion Nextel writedown. - I do wish they would have handled the merger better with these two companies
GDP comes in at 0.6% - slightly less than what was expected.
Freddie Mac takes a loss at $2.45 billion for 4th quarter. - lets see who they can blame this month
Today, I am recommending that to my clients that we float, but I am keeping an eye on the bond market.
I have my finger on the button, just in … (0 comments)
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dave woodson: Daily Quote - By Example
- 02/27/08 07:36 AM
"I don't know any other way to lead but by example."Don Shula (1930 - ) winningest coach in NFL historyI never really thought of this till I had a child. Well, my wife had her, I was just in the room for support. But, when I misbehave and do things unbecoming an adult and then I get mad when I see the same behavior in her. She is only following my example. So, I need to be absolutely sure that what I do is what I want her to see. Sadly, I know she is already putting a few of her … (0 comments)
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dave woodson: Up and down round and round
- 02/27/08 07:12 AM
Volatility
Well, if you like volatility this week you must be loving the bond market (rates). Yesterday, we had not one but two alerts that there may be a intra-day reprice for the worst and today we have had one for the better. Isn't it nice to know that there is a Mortgage Consultant out there that knows these types of things. I had the displeasure of hearing of a LO tell a customer that rates would likely go down since Big Ben lowered the rate. Uh, she was wrong and I happy to you that her client is now her former client … (0 comments)
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dave woodson: Evidence of Success
- 02/25/08 07:27 AM
I think we all need a refresher course on what each of us does. Here is what I do and if you respond. I would like to know what you do!
I took a loan application 3 weeks ago on an aged couple that their ARM was about to adjust. That a local bank completely dropped the ball on. She called me a tizzy. She had to close now.
Here were their issues: zoned r-2 and she runs a business out of the home.
Here are my issues: NONE
Loan closes not only on time, but early. She is absolutely in love with … (1 comments)
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dave woodson: This week in rates - TWIR
- 02/22/08 11:41 AM
If you are the kind of person that like volatility then the past couple weeks have been all you. I have seen dramatic swings this week that remind me of a playground with kids swinging back and forth on the swingset. Yesterday, we saw the bonds get back what it lost the last two days then to watch it all go down the drain today.
The bond is up and then it is down it all goes round and round. The Dallas Fed President sounded some fear about inflation and growth alarms and the bond drops to lows for the day. … (1 comments)
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dave woodson: Daily Quote - Creative Effort
- 02/21/08 12:42 AM
"Happiness lies not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort."Franklin Delano Roosevelt (1882-1945)32nd president of the United States
I saw this quote and I just loved it. I like it when my creative juices are just flowing and then to have a pay-off with a sale from that effort. Don't you just love it when you create something and then you put it out there and with hours or days someone calls you from it. The satisfaction of a job well done and the over-all feeling of a dollar well … (3 comments)
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dave woodson: Daily Quote - Investing in Knowledge
- 02/20/08 08:45 AM
"An investment in knowledge pays the best interest."Benjamin Franklin (1706-1790)American statesman, writer & scientist
How much do you spend on your knowledge? Last year, I spend nearly $2,000 in hotel, books and seminars. I made that much back in the lessons that I learned. There is more than investing, there is implementing. You can go to every seminar on the block, but if you do not implement what you learn then you should not go to anything.
I am not going to go into what I learned. I like to keep that to myself. I do not give my information out freely … (3 comments)
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dave woodson: 9 Primary Elements of Self-Leadership - Self-Talk
- 02/20/08 02:35 AM
I love this one and I thank God every day for Bluetooth technology. So, it does not look like I am talkig to myself. But, I am a great self-talker. I talk myself through situations and my daughter will sit in the backseat and ask me who I am talking to and I just point to my headset.
But, we all have been there, on the high dive looking down to the water below and say to yourself you can do this it is easy to do and you just toss yourself into the water. The first time you do it … (0 comments)
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We all love to drink water, some in our scotch, out of a bottle bought at the local market for more than $12 a gallon or straight from the tap. I am tap guy, grew up on well water, still drink from the tap today. There has been a scare here of recent days and weeks from national reports that we do not have safe water from DRUGS. 
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