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Despite the onslaught of bad press and mis-information surrounding the sub-prime melt down, it looks as though the worst may be over. At least according to one "survivor," Angelo Mozilo, chief executive of Countrywide Financial Corp. His thoughts on the current climate were this, "You have less competition, (and) rational competition. Your margins are going to improve.... That appears at least to me at the moment to be a trend, and one that we can see for the next several years."
Tough to say if this logic is right, but it certainly looks to make the next few months interesting. Have a great week.
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| Featured Articles from DoublePositive |
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It was a great tradeshow with great energy. Some tend to evaluate tradeshows on the personas and speakers appearing at the event. I personally tend to evaluate tradeshows at the exhibitor levels. The exhibition floors of most tradeshows often remind me of Malls – a few mega anchor tenants, connected by countless and varied mini merchants. I tend to evaluate both groups separately as this is where the proverbial foot-traffic-rubber hits the road.
The mega anchor tenants of this show were... actually... no one. That is, "no one" if you're thinking about the size of Macy's at your local Mall relative to the Subway next door to it, there was nothing this big (or this small) relatively speaking.
Full Story
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| Tips of the Trade |
BillSparkmanTheCoach |
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As a recovering procrastinator, I can speak from experience about putting things off. But I have learned a lot about what it takes to produce the results you desire from your life and business.
Full Story
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RedSofts |
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People try to self sell their homes to avoid the cost of a real estate agent. But when they come across people who put offers blindly and get stuck with low standard offers they go in search of a loan officer. As normal people are usually unaware of the mortgage lending standards, you as a loan officer can benefit a lot from being in the scene.
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| Referral Program |
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Make sure you take advantage of our referral program. For every new client you refer who orders 50 transfers, you'll get 5 free transfers — a value of up to $500!
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| Industry Fraud |
AMNewYork |
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Ten people from Bangladesh were charged Wednesday by federal prosecutors in a mortgage fraud scheme that centered on that immigrant community in Queens, officials said.
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TorontoStar |
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A former Brampton real estate lawyer was sent to prison for 3 1/2 years today for his role in a multi-million mortgage fraud.
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WishTV |
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An Indiana man is behind bars after being charged in a $1 million mortgage fraud scheme. Both the man and the Secretary of State are speaking out.
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BostonGlobe |
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Addressing Massachusetts' rapidly escalating number of home foreclosures for the first time, Governor Deval Patrick yesterday proposed tougher enforcement and penalties in the mortgage markets, including criminal prosecution of lenders and brokers who fraudulently induce borrowers to take out home loans.
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TheNewYorkSun |
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Cheating on mortgage applications is so widespread and so seldom punished that it's fueling an increase in foreclosures that will prolong the housing slump, the counsel to the director of the Office of Thrift Supervision, which oversees savings and loans.
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| Developing Your Business |
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Stop wasting your time chasing shadowy leads and get to work with Transfers from DoublePositive! Our transfers are different from traditional leads because they pass through two layers of screening and verification. You set the parameters and we'll connect you live to only qualified, interested borrowers.
If you don't have live call transfers of double-verified and interested borrowers in your leads mix, you should. There's no better time to try LIVE Hot Transfer Leads! Sign-up is free, there's no minimum order or long-term contracts and you can name your own price. Visit the link below to find out more:
Learn more about LIVE Hot Transfers!
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| Transfers Available This Week |
State |
Cost*
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| AK | $51 |
| AL | $45 |
| AR | $42 |
| AZ | $54 |
| CO | $51 |
| CT | $56 |
| DC | $47 |
| DE | $51 |
| GA | $46 |
| HI | $49 |
| IA | $42 |
| ID | $44 |
| IL | $42 |
| IN | $47 |
| KS | $41 |
| KY | $46 |
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State |
Cost*
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| LA | $42 |
| MA | $56 |
| ME | $44 |
| MI | $51 |
| MN | $54 |
| MO | $45 |
| MS | $48 |
| MT | $37 |
| NC | $41 |
| ND | $47 |
| NE | $50 |
| NH | $57 |
| NJ | $54 |
| NM | $48 |
| NV | $47 |
| NY | $52 |
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State |
Cost*
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| OH | $46 |
| OK | $41 |
| OR | $47 |
| PA | $50 |
| RI | $52 |
| SC | $45 |
| SD | $47 |
| TN | $51 |
| TX | $44 |
| UT | $46 |
| VA | $56 |
| VT | $41 |
| WA | $52 |
| WI | $45 |
| WV | $42 |
| WY | $52 |
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For pricing information on the Hot Transfers
listed above, please call us at 888-376-7484.
You can also visit our site to get more information Learn more about DoublePositive!
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| Industry News |
MarketWatch |
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Washington Mutual Inc. has begun offering a new mortgage and home equity line of credit bundled into a single loan that allows customers to reset interest rates or switch between fixed and adjustable rates up to twice a year without having to refinance.
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Rueters |
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Washington Mutual Inc. (WM.N: Quote, Profile, Research said it is making fewer subprime mortgages and emphasizing higher-quality loans to boost earnings and cut risk after its home loans unit lost $113 million from January to March.
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CharlotteBusinessJournal |
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Charlotte-based BofA has been piloting reverse-mortgage products with customers in Arizona since November.
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NationalPost |
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The U.S. housing slowdown has battered mortgage lenders and put many out of business, yet some of the survivors say the worst may be over.
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DailyReport |
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Beazer Homes USA Inc. said Thursday that the audit committee of its board of directors has launched a review of the company's mortgage origination business related to a federal fraud investigation.
Full Story
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WashingtonPost |
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Friedman, Billings, Ramsey Group reported its largest loss in more than a year yesterday, saying the housing loans offered by one of its companies dragged down profit in the wake of a nationwide surge of defaults that has jolted the mortgage industry.
Full Story
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RealtyTimes |
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Consumers often don't know what kind of loan they need. They are easily swayed into signing for loans they don't understand. And they wind up unable to pay for the mistakes they make.
Full Story
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SmartMoney |
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U.S. mortgage rates edged slightly lower in the week ending Thursday, with the national average on the benchmark 30-year fixed loan ticking down to 6.16% from 6.17% a week ago, Freddie Mac (FRE) said its weekly rate survey showed.
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Bloomberg |
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Countrywide Financial Corp. and IndyMac Bancorp said profit fell, and Friedman, Billings, Ramsey Group Inc. had a loss, the worst first-quarter earnings reports yet caused by the surge in subprime mortgage defaults.
Full Story
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| International Industry News |
Forbes |
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Signs the UK housing market may be starting to slow emerged today as a leading industry group reported that UK mortgage approvals slowed from a year earlier, while lending remained below its average over the past six months.
Full Story
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PropertyReport |
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Due to an increase in capital, the consolidation of banks and increases in foreign ownership and participation, the mortgage markets of several Asian countries are in much better shape and are poised for expansion says international research firm Global Property Guide.
Full Story
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| Business Solutions |
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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. DNCSolution.com
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Leads360's lead tracking software can give you visibility over your sales force and get valuable insight into your contact ratio. Contact Leads360 today and learn how we can help you increase your contact ratio by more than 20% in the first month. Call 1-888-508-4462 or visit Leads360.com
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| Your On-line Account |
We're working hard to make our client Extranet 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!
On-line Account Features
- New site design
- 6 Hour Window a requirement
- View/Edit Users – Password entries are now validated to be at least 5 alphanumeric characters
- 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 - Online reordering is as easy as ever; it now stores the previous credit card you used from the last order.
- 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.
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