 |
| |
|
 |
|
|
 |
| Referral Program |
Turn your
contacts into transfers! 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!
|
| | |
|
 |
|
Welcome to DealWire, the weekly
eletter from DoublePositive. The DealWire is packed with breaking
industry news, comprehensive sales tips, deals on LIVE Hot Transfers
and much more. Our goal is to help provide you with the tools and
insight you need to expand your marketing portfolio and transform
your business.
Please let me know if you have any questions.
Have a great day.
----------------
$6
BILLION Dollars! Holy cow, that's a lot of money! That's how much
Bank of America recently set aside for bad loans that it expects to
hit the books. Bank of America also said their profits were down 77%
and that they have to scale back their growth projections for 2008.
That's a lot of bad news, right? I thought so too, but their stock
price barely took a hit, down $.95 on the news to be exact. I guess
the market wasn't surprised. At the same time, the Mortgage Bankers
Association is going to report shortly whether applications rose for
the third straight week as borrowers might be looking to take
advantage of lower interest rates to refinance. I am keeping my
fingers crossed for some good news from the MBA.
I was also
reading that the general consensus is that loans that are defaulting
now were originated between August of 2005 and October of 2006. If
we say that the credit crunch, the mortgage market meltdown, the
subprime sinkhole (I just made that one up) all really took hold in
March of 2007, then we should be at the tail end of this fiasco,
right? The good news is that summer is here and that means high
season for home purchase. I have already seen an increase in demand
for purchase transfers. I am always around so don't hesitate to
contact me to get ramped up for the summer.
P.S - Remember
that co-worker I told you about last week who was working with two
competing offers on her house? Well, she finally sold her house
found another one and was in a competing situation to get that
house! I haven't heard whether or not she got it, but it's a great
story. |
|
 |
Boston |
| Bank of
America Corp., the second-largest US bank, said profit dropped for a
third straight quarter as the company set aside $6.01 billion for
bad loans. Full Story |
HoustonChronicle |
| Home-loan data
to be released Wednesday will show whether applications rose for the
third-straight week as borrowers took advantage of favorable
interest rates to refinance their mortgages. Full Story |
Bloomberg |
| California
mortgage defaults more than doubled in the first quarter to the
highest in 15 years as a drop in sales and prices prevented some
homeowners from selling their properties to pay debt, DataQuick
Information Systems said. Full Story |
NewYorkTimes |
| In 1996,
Thomas Friedman, the New York Times columnist, remarked on “The
NewsHour With Jim Lehrer” that there were two superpowers in the
world — the United States and Moody's bond-rating service — and it
was sometimes unclear which was more powerful. Moody's was then a
private company that rated corporate bonds, but it was, already,
spreading its wings into the exotic business of rating securities
backed by pools of residential mortgages. Full Story |
Bloomberg |
| Fannie Mae,
Freddie Mac and other companies suffering as mortgage delinquencies
rise won a two-year battle with the IRS yesterday, allowing them to
use those losses to reduce their tax burden. Full Story |
| |
|
