Mike Berrios's (mberrios) Blog

  After a tame Consumer Price Index report Friday, mortgage bonds staged a brief rally and rates retreated slightly.Earlier in the week, mortgage rates were at their highest point in almost a year.Unfortunately for rate shoppers, mortgage investors are behaving like Dr. Jekyll and Mr. Hyde right ...

An interesting feature of interest only loans is that your payment is re-calculated each month based on how much money you are borrowing.  The industry term for the re-calculation is "recasting".When an extra principal payment is made on an interest only loan, the new loan payment is calculated a...

  If you ever wanted proof that mortgage rates react to global events, the past four days are it.  Worldwide, investors are shunning the United States mortgage market in search of higher returns elsewhere.The more they sell, the worse mortgage rates get.The latest catalyst for extra supply: specu...

  Yesterday was the single worst day for mortgage rates in more than four years.    Because so few homeowners understand how mortgage rates are determined, a day like yesterday may have little context.  So, let's try to put it in perspective.  If somebody told you that the stock market crashed, y...

Use Sales Meetings To Charge Up Your Salespeople We all get motivated by hearing the success stories and strategies of top producers.  In her book, Double Your Income In Real Estate Sales, Danielle Kennedy advocates the use of office sales meetings as a forum for charging each other's batteries. ...

 The Five Factors of Credit ScoringFrom the desk of Mike Berrios There are five factors that impact consumer credit scores. They are listed here in order of importance:Payment History has a 35% impact. Paying debt on time and in full has a positive impact, and late payments, judgments and charge-...

Although when interviewing someone its easy to be mislead by the person they really are and the habbits they really have.  We have to do our best to bring people to our organizations that will represent us and the reputation of our business as best as possible.  These are the questions we as assi...