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It's confirmed, the holiday madness is in full swing. Parking lots are jammed, check-out lines are dismal and soccer moms are fighting over the last "hot toy" of the season. If you're a last minute shopper like me and you're out there in the trenches, good luck to you. For those of you who got your shopping done early - and have time to read an e-mail or two - I wanted to shoot you a quick reminder. There are only two weeks left to take advantage of our End-of-Year Special Promotion. If you have any questions about the promotion, or with anything else, please call us at 888-376-7484!
Have a safe and enjoyable holiday!
Thanks
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| THIS WEEK'S HEADLINES |
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LIVE Hot Transfers not in your marketing portfolio?
Get Started Today! Plus, get answers to all of your questions by chatting online with one of our Senior
Account Executives. Click to Chat |
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| REGULATORY UPDATE |
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| Two Maryland-based companies have agreed to pay civil penalties totaling $500,000 to settle claims that they called phone numbers on the Federal Do Not Call Registry. The US Department of Justice filed a complaint in federal court alleging that on or after October 17, 2003 the two companies violated the Telemarketing Sales Rule while selling mortgage products and services. The two Maryland-based companies are also prohibited from further TSR violations.
Provided by DNCSolutions
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| INDUSTRY NEWS |
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| ORIGINATOR TIMES |
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| Women are more likely to receive subprime home mortgage than men and these higher rates of subprime lending make it harder for households headed by women to build wealth through homeownership. In 2005, about a third of women took out mortgages with interest rates over 7.66 percent (well above the average prime mortgage rate of 5.87 percent) compared to about a quarter of men, according to a new study released today by the Consumer Federation of America.
Full Story
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| ORIGINATOR TIMES |
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| The delinquency rate for mortgage loans on one-to-four-unit residential properties stood at 4.67 percent of all loans outstanding in the third quarter of 2006 on a seasonally adjusted (SA) basis, up 28 basis points from the second quarter, and up 23 basis points from one year ago, according to MBA's National Delinquency Survey.
Full Story
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| MOTLEY FOOL |
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| Rising interest rates might be great news for your savings accounts, but they're not such great news for anyone whose mortgage rates adjust with the rising tide. In fact, adjustable-rate mortgages appear to be putting a financial strain on some homeowners.
Full Story
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| ORIGINATION NEWS |
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| The J.D. Power and Associates 2006 Primary Mortgage Origination Study has found that SunTrust ranks highest in overall customer satisfaction among primary mortgage lenders, with a score of 782 on a 1,000-point scale. Bank of America (781), Wachovia (774), Wells Fargo (766), and Chase (762) are the others in the top five. At the other end of the scale are five companies that deal in the nonconforming business. At the bottom is Homecomings Financial (648), followed by Option One (666), New Century (681), Ameriquest (684), and First Franklin (690). The industry average score was 750. The study found that 28% of respondents said they had a problem during the origination process, such as errors in closing documents, miscommunication of loan terms, and unavailable or unresponsive loan consultants or mortgage brokers. On average, 40% of those who had a problem said it caused their loan to close late. "One of the biggest drivers of dissatisfaction in mortgage origination is not keeping commitments," said Rocky Clancy, executive director of the banking and mortgage practice at J.D. Power. "Top-performing lenders differentiate themselves first and foremost by framing expectations and executing well within the boundaries they establish. The bottom line for many customers in terms of how well their lender satisfies them is whether the loan closes on schedule and includes accurate closing costs, payments, and payoffs."
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| REUTERS |
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| Late payments and new foreclosures on U.S. homes rose in the third quarter and are likely to grow as a massive wave of adjustable-rate mortgages reset at higher interest rates, the Mortgage Bankers Association said on Wednesday.
Full Story
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| YOUR ON-LINE ACCOUNT |
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We're working hard to make our client Extranet at Clients.DoublePositive.com an increasingly useful tool. We'll provide weekly updates on improvements recently released and those coming soon. We want to know what enhancements are most valuable to you! We'll use your feedback to prioritize our development, so please email us now with your suggestions!
Current Features
- Enhanced Analytics - Track Transfers...by loan officer! -- Now for each Transfer you receive...you can track it back to the loan officer in your organization who handled the call.
- Online Ordering and Credit Card Processing
- Streamlined Credit Review -- Submit transfers for credit review and receive responses directly from the Billable Transfers Report page of our extranet.
- Real-time On-Hold Control -- Put your account on hold or make it active instantly whenever you like, just by clicking a link.
Coming Soon:
- Online Invoices and Receipts
- Real-time Transfer Emails -- Know what transfers your loan officers are receiving in real time with emails that include borrower information.
- Web-based Training and Support
- Additional Services for Loan Officers -- Pull credit or order an appraisal online directly from our extranet (small per-request fee applies).
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| Free SUBSCRIPTIONS |
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Increase your income and close more with LendingSuccess, Magazine. Email us to request a free online version of the current issue.
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MortgagePro News is offering a complimentary LIFETIME subscription to DoublePositive clients. This e-mail newsletter is sent out two days per week with commentary, industry trends, and tips you'll use over and over. To take advantage of this offer, please contact us.
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Mortgage Originator magazine is offering a complimentary 6-month subscription to DoublePositive clients. To take advantage of this offer, please contact me. (Current subscribers to Mortgage Originator magazine are not eligible for this offer.)
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| Post your FREE classified ad in the DealWire |
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Our newsletter reaches over 3,000 mortage companies and professionals each week. Would you like them all to see your classified message for free? Let us know!
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Post Your Free Classified Advertisement Here! >>
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| DealWire Classifieds |
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DNCSolution is a family of Internet-based products that handle the full range of Do Not Contact (Do Not Call, Do Not Fax, Do Not E-mail, Do Not Mail) compliance. DNCSolution also addresses the privacy directives and opt-in/opt-out preferences of your prospects and customers.
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Do You Know Your Contact Ratio?
by Jeff Solomon, CEO of Leads360
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Clarity Training Group provides professional sales training and consulting services. Today's market is fiercely competitive - Clarity Training Group gives your organization an edge. Clarity offers on-site training, training via teleconference, or through on-line courses. Choose to supplement your existing training curriculum; have Clarity Training Group custom tailor a training program specifically for you; or make a selection from a set of existing courses. Whether you need your staff to close a higher volume of deals, increase revenue per deal, or if you simply want to challenge your staff to outperform even their best sales records; Clarity can make it happen...ClarityTrainingGroup.com
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P.S. Did a friend send you this newsletter?
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Copyright 2006 DoublePositive Marketing Group, Inc
1030 Hull Street, Suite 300 | Baltimore, MD 21230
888-376-7484
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