refinance: Did you miss the 36 hour Refi Boomlet? - 02/02/08 03:25 AM
Did you miss the 36 hour Refi Boomlet?  Did you have a lot of customers complaining because they missed it too?  This has happened 3 times in the last 5 months.  Don't let it happen again.
How about establishing a "Pre-Pipeline"?  Give your past customers an "added value" of joining your Pre-Pipeline.  Get them ready to go, so they AND YOU won't miss the next Refi Boomlet.
You should ALWAYS find an opportunity to contact your past customers with added value.
In today's challenging market, staying one step ahead of the competition can be the degree of separation between the successful lender and the … (12 comments)

refinance: FHA Streamline Submission Checklist - 02/02/08 03:22 AM
With rates dropping, and expected to continue to drop, we're going to see more demand for FHA Streamlines (non-credit qualifying rate/term refinances of borrowers who currently have an FHA loan).   
Below is some general information on them, and a Submission Checklist
 
Appraisal not required if loan amount does not exceed original loan amount DU Findings are not required Employment information is required on the 1003 Income and Assets are not required on the 1003 Max 1x30 on the Mortgage last 12 months Must be 0x30 at closing Max $250 cash out VOM required at Submission Not allowed in Colorado, Minnesota, Nevada, … (7 comments)

refinance: FHA Streamline Submission Checklist - 02/02/08 03:19 AM
With rates dropping, and expected to continue to drop, we're going to see more demand for FHA Streamlines (non-credit qualifying rate/term refinances of borrowers who currently have an FHA loan).   
Below is some general information on them, and a Submission Checklist
Appraisal not required if loan amount does not exceed original loan amount DU Findings are not required Employment information is required on the 1003 Income and Assets are not required on the 1003 Max 1x30 on the Mortgage last 12 months Must be 0x30 at closing Max $250 cash out VOM required at Submission Not allowed in Colorado, Minnesota, Nevada, … (3 comments)

refinance: U.S. Treasury Notes Advance as Drop in Stocks Increases Demand - 01/26/08 02:16 AM
Treasury notes gained, posting their sixth straight weekly advance, as a decline in stocks fueled concern that the U.S. economy will fall into recession. Traders pushed U.S. government debt to the best start to a year in two decades on speculation the Federal Reserve will cut interest rates by as much as a half-percentage point Jan. 30. Volatility in Treasuries reached the highest in a decade this week as policy makers slashed their target in an emergency move, while stocks had the longest slide since 2002.
The 10-year note yield dropped 14 basis points today to 3.57 percent. The yield touched … (1 comments)

refinance: NEW FHA LOAN LIMITS UP TO $730,000!!!! - 01/26/08 02:12 AM
As part of the economic stimulus package being negotiated by House Democratsand the Treasury Department, Fannie and Freddie loan limits will increasedfor one year up to $730,000. The increase will be adjusted for local marketsat 125% of local median home price. The move will significantly improveliquidity and pricing in the jumbo market. The agreement also includesraising the FHA loan limits to the same amount. We are trying to confirmwhether the other provisions of FHA reform will be included (such aslowering downpayment requirements). But at a minimum, the loan limits willbe increased.This represents an agreement in principle and must still go through … (8 comments)

refinance: AWESOME FHA NEWS!!! NEW HIGHER LIMITS!!! - 01/26/08 02:09 AM
As part of the economic stimulus package being negotiated by House Democratsand the Treasury Department, Fannie and Freddie loan limits will increasedfor one year up to $730,000. The increase will be adjusted for local marketsat 125% of local median home price. The move will significantly improveliquidity and pricing in the jumbo market. The agreement also includesraising the FHA loan limits to the same amount. We are trying to confirmwhether the other provisions of FHA reform will be included (such aslowering downpayment requirements). But at a minimum, the loan limits willbe increased.This represents an agreement in principle and must still go through … (0 comments)

refinance: Countrywide New "Soft Market" Policy Changes - 01/26/08 02:07 AM
I recieved this e-mail and thought I'd pass it along...
Looks like teh declining housing market is here to stay for awile....and the lenders know it!
As you are well aware, 2008 is forecasted to be a challenging year for the mortgage industry, characterized by a declining Housing Price Index in a wide variety of metropolitan markets. In the context of the prominent threat to our industry of collateral values falling below outstanding loan balances, mortgage professionals must strive to ensure that borrowers do not take on loans that they do not have the ability or economic interest to repay. Because of these … (7 comments)

refinance: Treasuries Decline as Stimulus Plan Reduces Demand For Debt - 01/24/08 04:35 AM
Treasuries Decline as Stimulus Plan, Stocks Dim Demand for Debt (edit/delete)
Ten-year Treasury notes fell for a second day as gains in stocks drew investors from government debt, pushing yields up from close to the lowest since 2003. Demand for the relative safety of U.S. notes and bonds waned on speculation that further cuts in borrowing costs by the Federal Reserve and an economic stimulus package will avert a recession.
Losses in Treasuries were limited as a report showed the nation's housing slump deepened. Purchases of existing homes fell 2.2 percent to an annual rate of 4.89 million, the National Association of … (0 comments)

refinance: Treasuries Decline as Stimulus Plan, Stocks Dim Demand for Debt - 01/24/08 04:31 AM
Ten-year Treasury notes fell for a second day as gains in stocks drew investors from government debt, pushing yields up from close to the lowest since 2003. Demand for the relative safety of U.S. notes and bonds waned on speculation that further cuts in borrowing costs by the Federal Reserve and an economic stimulus package will avert a recession.
Losses in Treasuries were limited as a report showed the nation's housing slump deepened. Purchases of existing homes fell 2.2 percent to an annual rate of 4.89 million, the National Association of Realtors said today. For all of 2007, sales of single-family homes … (1 comments)

refinance: Fed Cuts The rate .75 Percentage Point! - 01/22/08 01:08 AM
The Federal Reserve lowered its benchmark interest rate in an emergency move for the first time since 2001 after stock markets tumbled from Hong Kong to London and the U.S. economy showed increasing signs that it's headed into a recession. The central bank cut the target overnight lending rate to 3.5 percent from 4.25 percent
(I was guessing 1/2)  :-)
Policy makers weren't even scheduled to gather until next week! It's the biggest single reduction since the Fed began using the rate as the principal tool of monetary policy around 1990.
(0 comments)

refinance: Fed Cuts Rate .75 Percentage Point! - 01/22/08 01:06 AM
The Federal Reserve lowered its benchmark interest rate in an emergency move for the first time since 2001 after stock markets tumbled from Hong Kong to London and the U.S. economy showed increasing signs that it's headed into a recession. The central bank cut the target overnight lending rate to 3.5 percent from 4.25 percent
(I was guessing 1/2)  :-)
Policy makers weren't even scheduled to gather until next week! It's the biggest single reduction since the Fed began using the rate as the principal tool of monetary policy around 1990.
(2 comments)

refinance: Aurora Loan Services-Lehman Brothers...Last Day To Submit. Closing Doors! - 01/18/08 01:03 AM
Well...It's official!
Got the "official e-mail" ...  even though corporate actually dropped the bomb yesterday at 10am. My file with them must fund by the 25th. That is the day that my lock expires and there will be NO MORE lock extensions! Today is the last day to submit a new loan to them and you can only lock for 30 days.
Here's the e-mail...
Dear valued clients:
Aurora Loan Services' parent company, Lehman Brothers, announced today that it will substantially reduce its resources and capacity in the U.S. residential mortgage origination space in light of the dislocation in the mortgage markets. As a result, … (2 comments)

refinance: The Rate Cuts Are Coming...The Rate Cuts Are Coming!! - 01/16/08 03:49 AM
Treasuries fell as higher-than- forecast reports on inflation and industrial production may reduce speculation the Federal Reserve will lower borrowing costs by more than a half-percentage point this month. Yields on benchmark 10-year notes were near the lowest level in more than four years. The housing slowdown and losses on securities linked to subprime mortgages have led investors to push the yields down in the past month by the most in more than two decades on bets the economy will fall into recession.
There are even talks that the FED may come in with an inter-meeting rate cut!!
Some analysts are even … (7 comments)

refinance: Branding Yourself...Give Yourself an Edge! - 01/16/08 03:41 AM
"A brand for a company is like a reputation for a person. You earn reputation by trying to do hardthings well."Jeff Bezos (1964 - ) Founder Amazon.comAmericans are having 3.5 billion brand-related conversations per day. Are they talking about your brand?  Are they talking about you?  You are a brand!According to recent findings <http://m1e.net/c?50136946-BK1jjTsGTvytY%402950489-a.kT247ovJ8Lk>  unveiled at the Word-of-Mouth conference in Las Vegas in November, spending on word-of-mouth marketing grew to $981 million in 2006, an increase of 35.9%. Word-of-Mouth marketing grew more than the overall marketing services category (7.7%) and the U.S. Gross Domestic Product (5.7%) in the same 12-month period.Word-of-Mouth … (1 comments)

refinance: Branding....Giving You The Edge! - 01/16/08 03:40 AM
A brand for a company is like a reputation for a person. You earn reputation by trying to do hardthings well.Americans are having 3.5 billion brand-related conversations per day. Are they talking about your brand?  Are they talking about you?  You are a brand!According to recent findings <http://m1e.net/c?50136946-BK1jjTsGTvytY%402950489-a.kT247ovJ8Lk>  unveiled at the Word-of-Mouth conference in Las Vegas in November, spending on word-of-mouth marketing grew to $981 million in 2006, an increase of 35.9%. Word-of-Mouth marketing grew more than the overall marketing services category (7.7%) and the U.S. Gross Domestic Product (5.7%) in the same 12-month period.Word-of-Mouth spending is expected to reach $3.7 … (0 comments)

refinance: FNMA EA LEVELS CHANGING TO 620 MINIMUM FICO!! - 01/14/08 02:23 AM
I just recieved an e-mail from one of my lenders (GMAC)....he says that that all FNMA products will be changing as soon as tomorrow!
(from e-mail:)
ALL EA LEVELS AND MY COMMUNITY IS CHANGING TOMORROW, FANNIE IS CHANGING THE MIN FICO TOMORROW, RUN AND LOCK THESE LOANS TODAY.  THEY ARE SAYING MIN FICO @ 620!
If this is true, a lot of deals will be lost to 580 - 620 borrowers who are pre-approved and actively looking for houses! KEEP YOUR EYES OPEN!!
This change is significant enough to remind me of last year when sub-prime lenders were falling out and guidelines changed so … (4 comments)

refinance: FNMA CHANGING TOMORROW TO 620 MID FICO!!! BUYERS "QUALIFIED"?! - 01/14/08 02:22 AM
I just recieved an e-mail from one of my lenders (GMAC)....he says that that all FNMA products will be changing as soon as tomorrow!
(from e-mail:)
ALL EA LEVELS AND MY COMMUNITY IS CHANGING TOMORROW, FANNIE IS CHANGING THE MIN FICO TOMORROW, RUN AND LOCK THESE LOANS TODAY.  THEY ARE SAYING MIN FICO @ 620!
If this is true, a lot of deals will be lost to 580 - 620 borrowers who are pre-approved and actively looking for houses! KEEP YOUR EYES OPEN!!
This change is significant enough to remind me of last year when sub-prime lenders were falling out and guidelines changed so … (0 comments)

refinance: FNMA EA LEVELS ARE CHANGING TO 620 FICO!? REALTORS MUST KNOW! - 01/14/08 02:20 AM
I just recieved an e-mail from one of my lenders (GMAC)....he says that that all FNMA products will be changing as soon as tomorrow!
(from e-mail:)
ALL EA LEVELS AND MY COMMUNITY IS CHANGING TOMORROW, FANNIE IS CHANGING THE MIN FICO TOMORROW, RUN AND LOCK THESE LOANS TODAY.  THEY ARE SAYING MIN FICO @ 620!
If this is true, a lot of deals will be lost to 580 - 620 borrowers who are pre-approved and actively looking for houses! KEEP YOUR EYES OPEN!!
This change is significant enough to remind me of last year when sub-prime lenders were falling out and guidelines changed so … (2 comments)

refinance: Two-Year Treasuries Rise as Bernanke Cites `Downside Risks' - 01/10/08 05:48 AM
Treasury two-year notes rose, pushing yields toward a three-year low, as Federal Reserve Chairman Ben S. Bernanke signaled the central bank may cut borrowing costs this month to offset ``downside risks.''
MAY cut most likely means, WILL cut!
Traders increased bets the central bank will reduce borrowing costs by a half-percentage point on Jan. 30 as Bernanke gave his first assessment of the economy since the Fed's Dec. 11 meeting.
With any luck, maybe these low rates will spur home sales!
:-)
(0 comments)

refinance: Credit Card New Year's Resolution Ideas - 01/08/08 01:25 AM
Check all of your credit cards that you carry balances on to confirm the current rate. You may be surprised to see that some of these rates are higher than you recall. Remember that credit card rates can be changed very frequently and easily by the issuer, and rarely in your favor. And even better - give me a call to check your overall debt structure, and let's ensure that it makes sense based on your current financial goals.
Usually, just a quick call to your CC company to the # on the back of the card is enough to get them … (1 comments)

 

Kris Krajecki

Mortgage Broker Huntley, IL

Huntley, IL

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Kris Krajecki - FOX VALLEY MORTGAGE - Huntley, IL

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