| Mortgage Minute Newsletter From Sam Thompson, Senior Mortgage Advisor Nov 2007- Vol 1, Issue 23
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| In This Issue |
| Mortgage Rates at a 6-Month Low! |
| Sense of Humor A Key to Charisma. |
| Weekly Tip - Gargage & Yard Sales - Great for finding much more than stuff! |
| Weekly Mortgage Market Commentary. |
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Quick Links
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| Who we are. |
 Our Corporate Campus in Mt. Laurel, NJ PHH Mortgage is one of the top ten originators of retail residential mortgages in the United States. We offer you unsurpassed service, a full range of programs at competitive rates, and the smoothest mortgage experience in the industry. In 2006 alone, PHH Mortgageprovided $41 billion in mortgage financing for American homes, and every day we help more people fulfill the dream of home ownership. PHH Mortgage operates out of twomain facilities in Mount Laurel , NJ and Jacksonville, FL - employing a combined total of more than 5,200 team players.
We've received numerous awards,including Best 100 Places to Work in IT (Computerworld), Top 25 Companies that Care, Training Top 100, and more. And, we were recently ranked #1 by Inside Banking for our reliable closings and accurate Good Faith Estimates and we constantly receive 98%-100% "I would recommend" ratings from buyers AND realtors in post-closing surveys.
CALL US SO YOU CAN SEE HOW WE DO IT! ____________________ Quote of the week:
"If you want to make good use of your time, you've got to know what's most important and then give it all you've got."
Lee Iacocca: Philanthropist, former Chrysler CEO, former Ford Motor Co. President |
| Protect you Cell Phone! |
 Starting Nov 2, call centers can now call your cell phones!
To prevent this, call the National Do Not Call Center at 888-382-1222 or go online at www.donotcall.gov.
Don't forget about your fax numbers. Many call centers call these numbers too.
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| Dear Sam, | ||
Want to be able to remember names?
I am still listening to Roger
Dawson's "Secrets of Power Persuation" and here's his advice on how to
remember names which is so important to your success.
But first, I got to tell
you that I went to a William Nutt Memory Seminar in Laurinburg
sponsored by our Chamber around 20 years ago on this subject. The guy
went around town meeting people and was able to recite the names of
everyone in the room at various civic group and company meetings after
a few minutes of talking to them.
The Nutt memory technique was mainly
about creating a strong visual image and association of their face that
you could relate to their name much, if not the same as Dawson's.
William also showed how you could use this technique to remember up to
15 things and I can still do that.
Anyway, here's Roger's 6 point name remembering technique.
1. After hearing
their name, think about how it is spelled and clarify any
questions about that if you have any questions.
2. Ask them how they like to be addressed.
3. Think of some rhyming words to help you remember the correct pronunciation.
4.Try to think of a famous person or
place that will help you remember their name and add a visual image of
that focusing on the most distinguishable characteristic on their face
that you see when you first meet them.
5. Use their name as quickly as
possible in your conversation with them, asking them their name again
if you have already forgotten it.
6. End your conversation by saying their name again when saying goodbye to them. Again, ask them again if you have forgotten.
The thing that Roger talks about is
that the main reason you don't remember their name is one that William
talked about too. It is because you did not focus on it and put into
your long term memory. You have to make yourself do this by trying to
find something about them that makes them interesting to you.
One more tip. Did you read my
introduction last week about how to meet people? Well, here's the rest
of the story. When looking into their eyes and making a mental note
about the color of their iris, make this a trigger to remember their
name. This eye color trigger point can help you focus and again, that
is the key to this.
I NEVER SAID IT WAS GOING TO BE EASY!
Sam Thompson
PHH Mortgage
Senior Mortgage Advisor 'The FHA and VA Guy'
843-230-7929
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What to expect at closing.
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Mortgage Rates at a 6-Month Low!!
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 McLean, VA - Freddie Mac (NYSE:FRE) last Friday released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 6.26 percent with an average 0.4 point for the week ending November 1, 2007, down from last week when it averaged 6.33 percent. Last year at this time, the 30-year FRM averaged 6.31 percent. The 30-year FRM has not been this low since the week ending May 17, 2007, when it averaged 6.21 percent.The 15-year FRM this week averaged 5.91 percent with an average 0.4 point, down from last week when it averaged 5.99 percent. A year ago, the 15-year FRM averaged 6.02 percent. The 15-year FRM has not been this low since the week ending May 10, 2007, when it averaged 5.87 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.98 percent this week, with an average 0.4 point, down from last week when it averaged 6.03 percent. A year ago, the 5-year ARM averaged 6.05 percent. The 5-year ARM has not been this low since the week ending May 17, 2007, when it averaged 5.92 percent. One-year Treasury-indexed ARMs averaged 5.57 percent this week with an average 0.6 point, down from last week when it averaged 5.66 percent. At this time last year, the 1-year ARM averaged 5.53 percent. The 1-year ARM has not been this low since the week ending May 31, 2007, when it averaged 5.57 percent. (Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.) "October's consumer confidence fell to its lowest level since October 2005 as mortgage rates continued to decline this week to their lowest level in almost six months," said Frank Nothaft, Freddie Mac vice president and chief economist. "Continued market concerns about weaker economic growth and further declines in the housing market have kept mortgage rates low over the last few weeks. "Although the third quarter gain in real gross domestic product (GDP) of 3.9 percent was stronger than market forecasts, the housing market has subtracted from GDP growth over the past twenty-one months ending in September. In its most recent policy announcement, the Federal Open Market Committee (FOMC) noted that the rate of expansion in the economy will most likely slow in the near term, due in part to a reflection of the intensity of the housing correction." Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters. |
| Sense of Humor - A Key to having charisma! | ||
 Now that is funny!
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Weekly Tip - Garage and Yard Sales are More Than About the Stuff!
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 Yard Sales are great for many things!
Want to have some fun this weekend?
Scan the papers Friday for the garage sales and yard sales and get up
at the crack of dawn Saturday morning and hit as many as you can.
Here's why!
1. You might meet some families trying to clean out a house to sell in the near future. 2. You might meet some families getting ready to buy a house after selling theirs. 3. You might find some cheap stuff for your office, home or listings for staging purposes. 4. You might have some fun if you do this with your family and friends. 5. You might meet some new friends or future referral sources. 6. You might meet some folks looking for ideas on how to do a yard sale because they might have to do one so they can sell their home soon. 7. It will get you out of bed so you can get out and enjoy your day off with your family. 8. Did I mention you might meet some people entering the real estate market soon? This tip has been around for a while and
most of you have probably heard of it or maybe tried it. It you
haven't, now is a great time to try it!
I am sure you can think of other reasons besides what I thought of but the key is to wear your realtor badge and your smile and take plenty of business cards so if the opportunity arises, you'll be sure to capitalize on it! Just ask questions about why they are doing this or why they are there and see what happens... Happy Shopping and Happy Prospecting!!! |
| Weekly Mortgage Market Commentary |
| Don't let the financial markets squash your clients and your transactions!
Stay informed by reading my new daily "Daily Rate Lock Commentary" or
just call me to find out what is going on! If you want to be included
in this distribution, just call or email me. Remember, knowledge is
power and the more educated you are in your industry, the higher quality buyers
you are going to attract and that means easier closings, bigger houses
and more money in your "hip national bank!" And since rates are still
climbing, call us to get your clients in our 90 day rate protection as
soon as possible!
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Let me know if I can take an application for you anytime! And,
please let me know if you like the format of this email service. I
hope you are reading these so you can stay up on your profession and so
you can make more money too!
Also, I am available to do a "Hit the Ground Running Workshop" with
any agents interested in learning tons of things they can do to help
them succeed in Real Estate. I need at least 5 agents, brand new or experienced,
looking for some motivation to put this on for you that will take 2-3
hours, depending on your involvement! These are designed to be
interactive so you can learn more about yourself and so you will walk
away with a stronger sense of self-confidence too.
These are fun and motivational!
If you don't get at least 10 great ideas that can really help your business, I'll take you to lunch and give you a few more!
What are you waiting for? Gather support with 4 of your colleagues and call me today!
We'll guarantee your closing date.
We're so confident that we will close when you say so, that if we
don't, we will reduce your interest rate by 1/8 of one percent for the
life of your loan.*
We offer FREE pre-approvals to qualifying homebuyers! With a mortgage pre-approval, you can shop for the home of your dreams with confidence. You'll know just how much you can afford and increase your negotiating power. **
We take pride in being a lender you can trust. As our mission states, "we promise to treat customers like family." We take this oath seriously, and our goal is to provide you with the superior service you deserve - guaranteed.
* Approved, conventional, purchase loans only. Closing date to be mutually agreed upon between customer and bank, and customer must provide all required documentation. Timely request for payment under guarantee is required. ¹Inside Mortgage Finance, Copyright 2006 |
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I hope you have a great week this week in real estate. Call me if I can help you with that!!
Sam Thompson - "The FHA and VA Guy" 843-230-7929
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