The Secret to closing More Mortgage Deals

Wow. I finally found it. After starting in this business in 1984, then really digging in over a decade ago as a loan originator, to becoming a Broker, then a Realtor, then hanging up my Realtor designation and focusing 100% on the core business of being a morgage broker, I found the Post-It that sums up how to be successful in the mortgage business. If we just simplify the process, keep our eye on the goal and provide excellent service, the four step daily plan works.

If you know anyone looking for a new conforming loan including Stated Income (aka No Income Qualification)...I've got them along with THOUSANDS of other opportunities in today's real estate financing market. It's time to call: Pat Townsley, Mortgage Broker. 415-485-1776. http://www.ptre.net/ . Keeping it Real. Simple. Let's Talk!

The market is on Fire, again. This is a rollercoaster of market activity, so I recommend that you get your ducks in row now. Overall, look for Wednesday or Friday to be the biggest days for mortgage rates. Wednesday's GDP and Friday's Employment and ISM reports are the most important pieces of data, but we may see quite a bit of movement in rates tomorrow or Thursday also. If we see weaker than expected results from the most important reports, we should see rates close the week much lower than last Friday's closing levels. If the data shows stronger than expected results, we may see mortgage rates move higher again this week. This is of course, assuming that Wednesday's Fed meeting adjournment doesn't reveal any surprises. Please contact me if you have any financing questions including the Fed's proposed increase in Conforming loan limits. Who do you know who has been considering refinancing? Please get them in touch with me ASAP: Pat Townsley, Mortgage Broker; 415-485-1776 and http://www.ptre.net/

Home Loan Time!

This morning the Fed surprised everyone by taking a .750 cut to the Fed Funds Rate - prior to the opening of the stock market the Dow futures were off over 500+, it then opened up almost as low and since has made a 350+ point recover to just off 150+. Bonds of course were the beneficiary of a massive flight to quality, but are starting to drop to the morning lows, which are still pretty high.

What does this mean in the terms of real estate financing? This will move "other markets" (bonds, treasuries) around and will absolutely help lower the fundamental mortgage rates. Now, it's up to the banks to play ball. They can still hide and recoil from the market due to fear, or they can loosen up a little. Conforming loans (those under $417,000) are the "sweetheart loans" that the banks are advertising. Watch out for misleading information in print, radio and TV. Just because they say that your payment will go down $1000 per month doesn't make it so. Start your new loan here with veteran mortgage broker Pat Townsley. 415-485-1776. http://www.ptre.net/