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  • New Home Purchase Mortgage Applications Up 17.9% Over Last June
    Data from the Mortgage Bankers Association (MBA) Builder Application Survey (BAS) shows mortgage applications for new home purchases in June increased 17.9% compared to the same month last year. Compared to May 2019, applications decreased by 14%, not including any adjustment for typical seasonal patterns. “Ongoing concerns about economic growth… Read more »
  • Success is the Sum of Small Efforts Repeated Daily
    I am often asked how I am able to be so busy originating, coaching originators, creating new training programs and building other businesses. It’s a fair question and what I am about to share with you is so powerful and so simple that almost no one believes it is a… Read more »
  • House Passes Bill to Cut FHA Costs for First-time Homebuyers
    First-time homebuyers could end up paying less for mortgage insurance under a new bill passed by the House of Representatives. So reports the Columbus Dispatch. The legislation would slash the Federal Housing Administration mortgage insurance premium by 25 basis points for first-time homebuyers who finish a counseling course certified by… Read more »
  • Consumer Borrowing Climbs for Second Month in a Row
    The amount of outstanding consumer credit rose steadily for a second consecutive month, a positive sign for U.S. economic growth. So reports MarketWatch. The Federal Reserve said that consumer credit grew by 5% in May, about the same rate as in April. Credit card and other revolving debt led the… Read more »
  • Ask The Expert: Adding Value to Open Houses
    By Dave Hershman, Senior Vice President, Sales of Weichert Financial Part II of my response to the question: I have been advised by my branch manager to start visiting open houses on the weekends. However, I have no idea what to say to the Realtor holding the house open. Any… Read more »
  • Developer Charged with $12M Mortgage Fraud
    A Manhattan real estate developer has been arrested and charged with residential mortgage fraud. So reports The New York Post. Penny Ann Bradley allegedly forged signatures to obtain more than $12 million in loans to finance a luxurious lifestyle that included Rolexes, gold coins, and Range Rover payments, plus a… Read more »
  • Three Action Steps for Effective Prospecting
    By Pat Sherlock, Founder QFS Sales Solutions In today’s selling environment, having an initial conversation or setting up a face-to-face meeting with a prospective buyer is more difficult than ever. Consumers aren’t interested in talking to salespeople, especially someone they don’t know. Pat Sherlock Whether the outreach is to a… Read more »
  • Mortgage Biz Should Prep for New Rate Index: Fed Group
    Mortgage professionals should begin getting ready for a new interest-rate index that can replace Libor, the scandal-tarnished benchmark that’s due to sunset after 2021, according to a Federal Reserve working group. So reports MarketWatch. Members of the working group said Libor’s proposed successor, the Secured Overnight Financing Rate, will suit… Read more »
  • Fed Chair: Trump Won’t Make Me Step Down
    Federal Reserve chairman Jerome Powell has told lawmakers he would not quit his job as the nation’s top central banker if the president requested it. So reports the BBC. “The law gives me a four-year term and I fully intend to serve it,” Powell said, speaking on July 10 before… Read more »
  • Property Preservationist Admits to Ponzi-like Scheme
    The Rhode Island-based operator of a business that specialized in preserving the condition of foreclosed homes for resale has admitted in court to what officials portrayed as effectively a Ponzi scheme. So reports The Providence Journal. Under a deal with prosecutors, Monique Brady, owner of MNB LLC, pleaded guilty in… Read more »
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