| Mortgage Minute Newsletter From Sam Thompson, Senior Mortgage Advisor Oct 2007- Vol 1, Issue 21
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| In This Issue |
| Open House Ideas by Danielle Kennedy, etc... |
| FHA - Mfg Home Permanent Foundation Requirements. |
| Weekly Tip - The Key to Charisma by Brian Tracy! |
| 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 Mortgage provided $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 two main 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.
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| Dear Sam, | ||
Chocolate!
People love chocolate so why not use this tasty treat to win over prospects or reward clients?
Quick trivia question. Who was the first European to taste chocolate? Answer at the end of this email...
I recently watched a show on the
history channel about this delicious food category that was very
enlightening. It all started over 3000 years ago when the Aztec and
Mya civilizations started harvesting the cocao beans in the rain
forests of Mexico, Central and South America.
The chocolate that we know was
somehow transformed from a complicated process of drying, fermenting,
roasting and so forth of the cocao beans that is a mystery to this day.
The first uses of chocolate was to
whip the beans into a malt with water making a drink called cocoloto
that was a sacred drink confined to the elite and was used in all kinds
of rituals like marriage ceremonies similar to how champaign is today.
It was the Spanish that thought of
adding the sugar and this new drink. In the 1600's chocolate was
thought to be a a magical drink that could cure aliments too.
As we all know, we have been
conditioned culturally to like chocolate all of our lives and it
worked. There is really no other food quite like chocolate that has an
amazing affect on people. Chocolate strikes the strongest emotional
memory chord of any food. Chocolate means love, chocolate means
romance, chocolate means joy...
But, our love for chocolate is more
than an emotional response, it's a chemical attraction as well. Over
1500 chemicals have been identified in chocolate. Chemically, it is
one of the most complex foods known to science. And wine, which is the
next most complex only has around 500 of them.
Chocolate is a 15 million dollar industry and one that you can use to help you grow your business!
In fact, for the next few weeks, I am
treating any agent that closes a loan with me to a delicious Godiva
chocolate treat to show you how much I appreciate you and to show you
how this can work for your business too!
ENJOY!
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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Open House Ideas... with Free Listing Sheets!
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Since
many of you are investing your time in doing more open houses, I wanted
to share some ideas with you. Danielle Kennedy, a real estate author
and speaker told a group of realtors at a conference I attended some
ideas that you can use when doing an open house. She stressed that you
want to make sure the lookers don't feel pressured by allowing them to
walk around on their own.
But, you need to get to know them and show them that you know the property so, here's how she what she recommended that you do. Find some feature about the property, preferably in the rear of the property so you can walk them to while talking to them.Just say something like this, "Welcome, my name is _____ and I really appreciate your coming.... Just feel free to look around on your own and come get me if you have any questions, but before you do, let me show you one feature that I wanted to make sure that you saw..."In addition to this tip, another tip about open houses that I read about is to make sure to have plenty of listing papers in the kitchen for your lookers AND in the master bath TOO! This gives the ones that don't want to seem too interested by picking one up in front of you to get one while out of view in a private setting.Make
sure to call me about printing some of our free listing sheets for your
listings with your photo and contact information. These are very
professional looking and show the prospect 4 different down payment,
origination fee and program options that you can pick from the handy
drop-downs on the website, all with current market rates. If you need
help with these, pick up the phone and call me!! I would love to help
you!
Since 30% of the buyers will call a lender before they call a realtor, this is a great way to make that connection get back to you!! If they call me, I'll let you know because we are a team!
Finally, here's a neat idea that a realtor told be about that is very creative and she has had lot's of success with it. She has yard sales in front of her open houses to attract more lookers! Why not work in this idea with your sellers to help them sell off some clutter to accomplish 2 things at the same time? If you do, don't forget the listing sheets!! |
| FHA Permanent Foundation Info for your file. |
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CUT & PASTE THIS INFORMATION FOR YOUR SELLERS!
*** REGISTERED ENGINEER'S REPORT IS MANDATORY ON ALL MANUFACTURED / MOBILE HOMES (EXISTING, PROPOSED, AND NEWLY CONSTRUCTED). *** THE ONLY EXCEPTION: This does not apply if the FHA customer is refinancing their current FHA loan. The Registered Engineer's Report must certify that the property conforms to all FHA guidelines for Permanent Foundation Guide for Manufactured Housing (ML 97-36). This report must be provided to the appraiser prior to their inspection of the property. The home must be on poured, in place concrete footings with the footings extending below the frost line (per state code) supporting the manufactured home carriage frames. The carriage frames must be permanently attached / anchored to the footings / piers by cable, rebar welded, or a similar fashion (referred to as tie downs). The existing system can be cement blocks, cemented together and placed on a pier, or concrete runners, or "I" beams set on a bearing wall. The support piers (if on masonry blocks) cannot be dry stacked, but must be mortared together and permanent (temporary supports are not acceptable). Then the entire perimeter foundation must be protected from the elements, and enclosed with material impervious to rot and infestation, and must be a perimeter foundation-type construction with adequate exterior access for maintenance and repair. NOTE: Vinyl skirting is not acceptable as it is very easily damaged. If metal skirting is used, it must be of a material that is impervious to rot and rust, and not easily damaged. Skirting is not acceptable to use as a perimeter foundation in the Philadelphia Region (CT, DE, ME, MD, MA, MI, NH, NJ, NY, OH, PA, RI, VT, VA, and WV). Properties in these states must have a perimeter foundation-type wall construction. Atlanta, Denver, and Santa Ana Homeownership Centers will accept skirting, as long as the material used is not easily damaged, and is impervious to rot and infestation. Alternate foundation: Registered engineer to inspect and certify current foundation design is a "Frost Protection Shallow Foundation" and meets "ASCE 32-01 standards." This report will need to be forwarded to the HUD HOC office that has jurisdiction over said state for review and approval. Report cannot be approved by lender. |
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Weekly Tip - The Key to Charisma by Brian Tracy.
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 Mother Teresa of Calcutta The Key to Charisma There is a close association between personal charisma and success in life. Probably 85 percent of your success and happiness will come from your relationships and interactions with others. The more positively others respond to you, the easier it will be for you to get the things you want. The Law of Attraction In essence, when we discuss charisma, we are talking about the law of attraction. This law has been stated in many different ways down through the centuries, but it basically says that you inevitably attract into your life the people and circumstances that harmonize with your dominant thoughts. You Are A Living Magnet In a sense, you are a living magnet, and you are constantly radiating thought waves, like a radio station radiates sound waves, that are picked up by other people. Your thoughts, intensified by your emotions, as radio waves are intensified by electric impulses, go out from you and are picked up by anyone who is tuned in to a similar wavelength. You then attract into your life people, ideas, opportunities, resources, circumstances and anything else that is consistent with your dominant frame of mind. The law of attraction also explains how you can build up your levels of charisma so that you can have a greater and more positive impact on the people whose cooperation, support and affection you desire.
Perception is Everything |
| 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!
 Rate Lock Advisory - Sunday Oct. 21st
There are four pieces of data scheduled for release this week that may affect mortgage rates along with a Treasury auction. Only one of the four is considered to be of high importance to the markets, so I am expecting the stock markets to again play a significant role in bonds swings and changes to mortgage rates. With no relevant news scheduled for release tomorrow or Tuesday, we will likely see the bond market remain fairly calm, unless the stock markets post sizable gains or losses. The first report is September's Existing Home Sales that will be posted at 10:00 AM ET Wednesday. September's New Home Sales data will be posted Thursday morning. These reports give us an indication of housing sector strength and mortgage credit demand. I don't see them having much of an influence on the bond market or mortgage rates, but a reading that varies greatly from analysts' forecasts could lead to a slight change in mortgage pricing. At 8:30 AM ET Thursday, the Commerce Department will post Durable Goods Orders for September. This re port gives us a measurement of manufacturing sector strength by tracking orders at U.S. factories for big-ticket items. Analysts are currently calling for an increase in new orders of approximately 1.5%. If we see a larger than expected rise in orders, mortgage rates will probably rise as bond prices fall. A weaker than expected reading should be good news for the bond market and mortgage rates, but this data can be quite volatile from month to month and is difficult to forecast. The week's last report comes at 10:00 AM ET Friday when the University of Michigan updates their Index of Consumer Sentiment for this month. Current forecasts show this index rising slightly from this month's preliminary reading of 82.0. This index is important because it helps us measure consumer confidence, which is believed to indicate consumers' willingness to spend. Since consumer spending makes up two-thirds of the U.S. economy, any related data is considered to be important. Overall, this is going to be a moderately busy week in the financial and mortgage markets. There is not a great deal of economic news scheduled for release in the week, so the stock markets and investor appetite for stocks compared to safety of bonds will likely be the biggest influence on mortgage rates. The Treasury auction is Thursday, when 5-year Notes will be sold. This will help gauge investor interest in bonds and could lead to a bond rally or selling. If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.
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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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