Intelliloan Explains How Home Buyers and Home Owners Can Benefit from the Housing Market's Volatility
Irvine, CA (PRWEB) September 11, 2013
“Intelliloan™ has set out, from the beginning, to stand apart from the rest of the lenders across the country. We want to provide our customers with information that is needed to make an informed decision when it comes to obtaining a mortgage. As the future of the housing market is on the minds of many, we want to address how home buyers and home owners can benefit from the housing market’s volatility,” states an Intelliloan™ representative.
Every major network's evening news includes an almost-daily update on the fluctuating housing market, enticing some home buyers to jump off the fence and lock their loan, while others remain fence-sitters. Evan Dodge, Sales Manager with Intelliloan™, a multi-state lender, explains how this volatility can serve in the best interest of home buyers, home sellers, and those wanting to refinance. "As a national lender that cares about our customers, we at Intelliloan want to provide information that will help our customers in their mortgage decisions," Evan explained.
The substantial influx of investors into the housing market in 2012 and early 2013 tightened inventory in many major markets, triggering a rise in prices coast-to-coast, according to national real estate broker Redfin's marketing analysts. Cities that have seen the most dramatic levels of appreciation are those who also saw housing prices fall most dramatically a few years back. Most market analysts agree that 2013's increases are simply an indication that the markets are returning to normal.
"Home buyers who've been sitting on the fence probably should make the leap into home ownership now, because it doesn’t seem that home prices or interest rates are declining any time soon," said Evan. "The good news is that interest rates appear to be rising at a very low velocity, so there's still time to find the house you want."
For homeowners who've found themselves underwater on their home loans over the past few years (owing more than the home's current value) there's more good news: as housing prices rise, many are returning to positive home equity once again.
"Homeowners who wanted to refinance but weren't able to, due to negative equity, should check with their lender again," Evan urged. "Or give us a call – we can help you determine if it makes sense to refinance now, whether to a lower rate, a shorter term, to lower your monthly payments, or take a little cash out to pay off higher-interest debts."
More good news for homeowners: now that housing prices are rising , many are seeing this as the perfect time to sell, walk away with more cash than in recent years, and then either upsize or downsize in their next home.
"No doubt about it: there is a lot of fluctuation in housing markets across the country," Evan added. "For home buyers, Intelliloan offers an initial prequalification program, so that would-be buyers know what their maximum housing price should be. If you're thinking of selling, talk to a real estate agent who can provide you with prices for homes comparable to yours that have sold recently. And for those who are considering a refinance, we can help you weigh the pros and cons of various loan options."
Metropolitan Home Mortgage, Inc. DBA Intelliloan™ is a direct mortgage lender based in Irvine, California and was established in 1993. Intelliloan™ is approved by HUD, FHA and FNMA, and is licensed in 18 states. Intelliloan™ is an Equal Housing Lender and has been a member of the Better Business Bureau since 1999 and has an A+ rating. NMLS #3290.
For more information, go to http://www.intelliloan.com or call 877-263-8499.
Metropolitan Home Mortgage, Inc. DBA Intelliloan™ is a California corporation headquartered at 4 Park Plaza, Suite 800, Irvine, California 92614 and is licensed or registered or exempt from licensing to conduct business in the following states: Arizona Mortgage Banker license #0907461; licensed by the California Department of Business Oversight under the California Residential Mortgage Lenders Act, license number 4130924 and 6036970; Colorado Department of Regulatory Agencies, Division of Real Estate NMLS#3290; Connecticut Mortgage Lender License #ML-3290; District of Columbia #MLB3290; Florida Mortgage Lender Servicer License #MLD423; Illinois Residential Mortgage license #MB.6759473; Maryland Mortgage Lender License #06-20616; Massachusetts Mortgage Broker/Lender License #MC3290; Michigan 1ST Mortgage Broker/Lender License #FL0015148 and Michigan 2nd Mortgage Broker/Lender License #SR0015343; Minnesota Residential Mortgage Originator License #MN-MO-40019736; Nevada Mortgage Broker License #3759; New Jersey Residential Mortgage Lender License — NMLS#3290; Oregon Mortgage Lending Branch License #ML-3692; Pennsylvania Mortgage Lender License #40659; South Carolina Mortgage Lender/Servicer License #MLS – 3290; Virginia Broker/Lender License #MC-5718; Washington Consumer Loan Company License #CL-3290. NMLS#3290. All rights reserved. © 2013.
•Regulated by the Illinois Department of Financial and Professional Regulation, Division of Banking, 320 W. Washington Street, Springfield, IL. 62786, 217-782-3000.
•Not all branches are licensed in every state; please contact your local office to determine eligibility.
New York, NY (PRWEB) August 22, 2013
The American Banker Index of Banking Activity (IBA) registered a reading of 57.7 in June, a retreat from its recent all-time high but still indicative of increased business activity in the sector.
The recent spike in long-term interest rates likely played a role in damping the banking industry’s pace of expansion. The rate spike was a reaction to comments from Federal Reserve Chairman Ben Bernanke that markets interpreted as indicating the potential for a near-term curtailment of the Fed’s quantitative easing.
Consumer lending indicators retreated, with readings for applications (54.2) and approvals (52.6) below 59 for the first time since February. The reading for commercial loan applications, which had been at a high of 66.7 in April, also fell from 63.5 in May to 57.8 in June.
The IBA tracks the level of business activity across a range of factors that are fundamentally important to the commercial banking business. Composite readings above 50 indicate an expansion of activity and readings below 50 point to contraction. The farther from 50 a reading is, the stronger the indicated change.
The IBA is a product of American Banker's regular surveys of banking executives and is published in partnership with VantageScore Solutions. The latest installment of the index was based on 270 responses to surveys. The most recent data is based on a survey conducted in July.
BANKING INDUSTRY CONDITIONS
Loan pricing indicators, having endured months of pressure, turned upward thanks to the higher long-term rates. Consumer pricing registered at 53.7 and commercial pricing was 51.4. In both cases, those were the first instances of readings above 50 since the IBA’s June 2012 debut.
June also provided evidence of a trimming of bank payrolls. The index reading for staffing fell to 47 in June from 51.7 in May. Some attribute these moves to a cutback in mortgage jobs related to a lessening in refinance activity.
WHAT RESPONDENTS ARE SAYING
In addition to the quantitative elements of the survey that support the IBA, open-ended questions are posed to respondents seeking information on the factors they believe are having the biggest immediate impact on their businesses.
Lenders note that the stabilizing of the economy and improved housing market should help business. “Residential real estate market conditions continue to strengthen in the bank’s primary markets,” one lender said. “Coupled with improving consumer confidence levels, this has provided positive momentum for asset quality improvement and moderate loan growth, despite fierce competition for creditworthy borrowers.”
Other lenders agreed that economic activity is a boon, but as one said, it is “still tough to find good lending opportunities that are not driven solely by price.” Another said, “Good loan prospects are hard to find.”
As the index indicates, some bankers are redirecting their efforts away from the refinance flurry. “We are experiencing a higher demand for [government] real estate loans — more new purchases than refinances,” one lender said.
HOW THE INDEX WORKS
The Index of Banking activity is a diffusion index made up of 11 equally weighted sub-indicators that summarize various business activities, such as loan activity (e.g. applications, approvals, delinquencies and loans outstanding), loan pricing, deposit account activity, staffing, and business and real estate conditions.
Respondents are asked whether each sub-indicator increased, decreased or had no change from the previous month. Responses do not include opinions, intentions or expectations, although bankers were given the opportunity to comment about market conditions.
FUTURE INDEX READINGS
Monthly readings of American Banker's Index of Banking Activity will be presented as a time series that can be used to monitor the prevailing rate and direction of change in banking business cycles and eventually to benchmark whether an institution is operating in line with overall industry needs.
About American Banker Research
American Banker Research is a unit of American Banker, the flagship information brand of the diversified B-to-B media company SourceMedia. American Banker Research brings a full range of professional research capabilities to companies and executives in banking and payments. The unit manages the American Banker Executive Forum, a community of senior banking and payments executives who are committed to regularly sharing opinions and insights with the editorial and research groups at American Banker. Members include qualified professionals who read American Banker and its sister brands Bank Technology News and PaymentsSource, and attend their professional conferences. These include C-level executives and other senior professionals employed at commercial and community banks, bank holding companies and other financial companies across all asset classes.
SourceMedia, an Investcorp company, is a business to business media and marketing solutions company serving the financial industry and the related fields of professional services and technology. SourceMedia offers its clients and subscribers professional information services, industry-standard research, data applications, in-depth seminars and conferences, and specialized marketing services.
About VantageScore Solutions
VantageScore Solutions, LLC (http://www.vantagescore.com) is the independently managed company that owns the intellectual property rights to the VantageScore credit scoring models, including the recently announced VantageScore 3.0 model which provides up to 25 percent predictive improvement over earlier models and has the ability to formulate a score for 30 – 35 million previously unscoreable consumers. Initially developed by America’s three national credit reporting companies (CRCs) — Equifax, Experian and TransUnion — VantageScore Solutions’ highly predictive models use an innovative, patented and patent-pending scoring methodology that provides lenders and consumers with more consistent credit scores across all three national credit reporting companies.
(PRWEB) August 24, 2013
The nation’s best mortgage recruiting firm AnikimCreditCorp.com is pleased to announce new contract is underway for a new location for a mortgage branch in New York. The mortgage firm who works with multiple lenders across the county has landed yet another big deal in the branch development. The new branch is just one of the many services that the mortgage consulting firm has been offering lenders. The company assists in hiring loan officers, as well as providing exclusive mortgage leads from their lead generating partners. The company offers a full range of services for the bankers that they represent, and have been consistently the best at what they do. To find out how to become a branch partner with a mortgage banker, or to speak with someone from the consulting firm visit, http://anikimcreditcorp.com/contact/.
The top net branch mortgage companies are always on the lookout for licensed professional mortgage loan officers. The consulting firm helps locate these individuals for large mortgage bankers throughout the county and places them with the lenders. The firm also consults on secondary marketing solutions as well as helping mortgage bankers with “scratch and dent loans” or conduit kicked loans that have agency approval, but get caught up on warehouse lines. The many different mortgage related services that the firm offers makes them a one stop shop for the big mortgage bankers, which allows them to focus more on funding loans.
The mortgage experts have helped mortgage bankers open new branch locations and also finds the best mortgage loan officers to place at those locations. The company is also looking for VLO or virtual loan officers to work from home or out in the field. The company receives most of the candidates online by using the top SEO professional to rank for multiple mortgage related key phrases. The firm also uses Social media, video campaigns, and mortgage banking forums to assist the company to help with acquiring new clients. The consulting firm is actively looking for those looking for mortgage net branch opportunities everywhere in the county to partner them with one the firm’s direct lenders. The company continues its expansion online and throughout the mortgage community looking for qualified candidates. To learn more about the firm, or the services they provide, contact the company directly and speak with an acquisition executive. Interested parties can also visit one of the company’s Facebook pages, https://www.facebook.com/MortgageNetBranchOpportunities
About the company: AnikimCreditCorp.com was started after the mortgage crisis to help struggling loan officers and net branches find mortgage banks that were able to sustain through the tough times. Since then the company has built relationships with banks and brokers throughout the county and helps place mortgage loan officers with job and branch opportunities. The company also helps connect some of their banker clients with a scratch and dent residential mortgage loan outlet to help clear warehouse lines.
Contact: Mason Baxter
Reverse Mortgage Stabilization Act – Loan Love’s New Guide To Understanding The Reverse Mortgage Reform
San Diego, CA (PRWEB) August 24, 2013
LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. A recent bipartisan agreement from both Republicans and Democrats has paved way for a new reverse mortgage law called the “Reverse Mortgage Stabilization Act.” To help senior owners grasp the changes of the reverse mortgage reform, Loan Love sheds light on the current state of reverse mortgages in a newly released article.
As the article “Reverse Mortgage Reform 2013 (Updated HECM Guidelines)” clarifies, the Reverse Mortgage Stabilization Act is designed with the intention of making the reverse mortgage process smoother and more accommodating to future senior homeowners. To the uninformed, homeowners over the age of 62 may be applicable for a Home Equity Conversion Mortgage, or HECM for short, which is the formal name for a reverse mortgage. With a HECM, homeowners can tap into their home’s equity by taking out money directly from their homes instead of making monthly payments on a loan.
So why the push for a reverse mortgage reform? Reverse mortgages can often be very tricky to work with; Reverse mortgages tend to be complex enough that loan borrowers may often find themselves in questioning the nature of the loan. To complicate things further, borrowers can experience the immoral lending practice of promoting inappropriate HECM loan over more beneficial products. To help protect loan lenders and loan borrowers, the Reverse Mortgage Stabilization Act now implements reverse mortgage requirements before loan approval. The Loan Love article illustrates the four main changes to the reverse mortgage loan process with the following:
“First, the law requires borrowers have a financial assessment before being approved for a loan to determine which HECM products – if any – are most appropriate for their needs so homeowners don’t end up taking on a loan that’s not right for them. This protects consumers from unscrupulous or unknowledgeable lenders who may promote loans that don’t meet the homeowner’s needs, and it also protects lenders by making sure the loans they write satisfy their lending requirements.
Second, when necessary, the law requires an escrow account be established to prevent defaults that can occur when a homeowner falls behind in paying homeowner’s insurance or property tax bills. This step protects lenders from losing their investment in homes when homeowners can’t pay these bills or simply refuse to.
Third, the law limits the amount homeowners can draw when the loan is initially approved, only allowing the amount needed to pay “mandatory obligations” such as closing costs and mortgage liens. The goal here is to protect the fund that oversees reverse mortgages from losses that can occur when the entire amount of the loan is drawn out immediately after signing the loan agreement.
And finally, the new law requires that changes to the rules regarding reverse mortgages can only be made if those changes are designed to improve the financial safety and reliability of the program.”
Using these guidelines, senior homeowners can be assured when applying for a Home Equity Conversion Mortgage. To learn more on the Reverse Mortgage Stabilization Act, please visit LoanLove.com.
topcreditcardprocessors.com Reveals Advance Funds Network as the Second Best Merchant Cash Advance Service for August 2013
(PRWEB) August 26, 2013
topcreditcardprocessors.com has declared Advance Funds Network as the 2nd best merchant cash advance agency for the month of August 2013. Merchant cash advance services are evaluated by the independent research team to determine which services offer the best merchant cash advance solutions. While there are thousands of payment processing services offering solutions in the industry only the truly best are highlighted within the listings.
Merchant cash advance agencies are put through the topcreditcardprocessors.com genuine investigation process in order to identify which agencies produce the top overall solution. Agencies are chosen based on merit determined by performance in the investigation process. This process consists of the use of a set of investigation verticals, connecting with customer references, and performing various market and industry research projects.
For a more meticulous investigation of performing merchant cash advance consultants the independent investigation team at topcreditcardprocessors.com interviews customer referrals of the top performing credit card processing consultants. Customers are asked various questions about the solutions supplied to them and about their experiences with the credit card processing firm. Customers often go out of their way to reach topcreditcardprocessors.com directly to tell of their experiences and opinions pertaining to credit card processing solutions.
Advance Funds Network has been announced the second top merchant cash advance company based on a systematic analysis of their offered solutions. The independent research team has announced them due to their continued achievement and their history of successful payment processing solutions. Those looking for a effective merchant cash advance service to meet their specified needs should consider Advance Funds Network.
About Advance Funds Network
Advance Funds Network is a leading provider of small business loan programs in the United States. Since 2007, Advance Funds Network has provided small businesses with the opportunity to achieve the financing required to start or expand business. Their primary objective is to approve their clients for financing.
topcreditcardprocessors.com is an established independent research firm focusing on the examination and ratings of credit card processing consultants all around the world. The ratings are crafted by the independent research team each month to feature the best merchant cash advance consultants based on their performance and their rating achieved through the proprietary examination process.
To find out more about Advance Funds Network visit:
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