Loan Blog

Hello Everyone,

There is an event that is being planned at the Walden Creek Addition in Mustang on SW 29th and Morgan Rd.

It will be April 5-6 Saturday and Sunday. I know there will be gourmet food and wine tasting.

More info to come as I receive it.

Since we are the preferred lender for Manchester Homes we are providing some specials for anyone that buys one of their homes.

Visit www.loansbyandi.com/specialsand print the flier.

Call me or e-mail me for more info.

Andi Bytyqi

405-205-7585

andi@loanturtle.com

Greetings Everyone,

What a roller-coaster has this been lately for the rates. We have had 3-4 reprices within the day on and off for a while now. My best advise to a borrower is to be sure that they are comfortable with their purchase and not think about the rate. If you like the rate then lock it and forget about it. I do not believe in timing the market and will never advise anyone to attempt in doing that.

The Daily Advisor is a good prognosis. But even then, I would instruct your clients to just make sure that they are comfortable with their purchase and their payment and not dwell on what they could have gotten for a rate. Our experience has been that once the borrower is done with their purchase process and after 3 months, they will no longer be able to tell you what their rates are.

I will continue to post the Daily Advisor as an informational tool for you. You are able to find the same advisor from Alamode if you have a website with them. Our company is also a subscriber to The Mortgage Market Guide that gives us a more in-depth and up to date look at what the market is doing. For more information contact me anytime at 405-205-7585 or at andi@loanturtle.com.

You can visit my website at http://www.loansbyandi.com/.

Rate Lock Advisory - Wednesday Mar. 5th



Wednesday's bond market opened in positive territory but has since fallen into negative ground as stocks gain strength. The stock markets are rallying after one of today's pieces of data showed stronger than expected results. The Dow is currently up 104 points while the Nasdaq has gained 21 points. The bond market is currently down 6/32, which with yesterday's late losses will push this morning's mortgage rates higher by approximately .250 - .375 of a discount point.

The revised Productivity index for the 4th Quarter of last year was released early this morning, showing a 1.9% annual pace. This was a slight upward revision form the initial estimate of 1.8%. Since it was only a slight revision, it has not had much of an impact on this morning's trading or mortgage pricing.

January's Factory Orders report was released late this morning and also failed to show any major surprises. It revealed a 2.5% decline in new orders that matched forecasts. Today's report also revised December's orders lower by .3%. However, neither of those figures has created enough movement in bonds to affect mortgage rates.

What did make the news today was the ISM Services Index for February. It showed a reading of 49.3, which was higher than the expected 47.5 reading and indicates that the services sector of the economy strengthened compared to January. The 49.3 is still below the recessionary indicator of 50.0, but well above January's 44.6 reading. This can be considered somewhat negative news since the reading was stronger than expected.

The Fed Beige Book will be posted at 2:00 PM ET this afternoon. This report details economic activity throughout the country by region. The Fed relies heavily on this data during their FOMC meetings, so look for a potential reaction during afternoon trading tomorrow. It probably will not cause a major sell off in the stock or bond markets, but could cause enough movement in bond prices to possibly improve or worsen mortgage rates slightly if it reveals any significant surprises.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Lock 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.

Alert! Your Name is Being Sold - Take Action Now!
by Sue Woodard

Here’s breaking news you need to know … and you need to let all your family and friends know right away as well.

Your information … a hot commodity

Having credit checked is an important and necessary step in the home buying process. But very few people realize that each time their credit is checked, the “inquiry data” that the credit bureaus (Equifax, TransUnion, Innovis or Experian) have on file have now become a commodity. This information is being sold by the credit bureaus to other lenders…and also to companies that sell and resell the same names and personal information.

That’s right – the credit bureaus have found a way to increase their revenues at your expense….and without your permission.

These “inquiry leads” include name, address, phone numbers (including unlisted), credit score, current debt and debt history, property information, age, gender and estimated income. They are marketing personal, confidential information to competing creditors…and making millions. Your privacy is being sold, not just once, but over and over again.

And lenders that purchase these leads at a premium will then do everything they can to recoup their investment and turn a hefty profit. Super sneaky bait and switch tactics are being used to lure clients away from their reputable lender. Clients have even been called by disreputable lenders and told that the lender they had been speaking to previously “passed on” the information to them, because they knew that they’d be able to offer much better interest rates and terms. Ouch!

Just Say “No”

The consumer credit reporting industry has provided a way to “opt out” and remove your name from these lists. You can contact them by phone at 1-888-567-8688 or online at www.optoutprescreen.com You must opt out at least 48 hours prior to having your credit checked to make sure it is processed in time. You can choose a five year or lifetime option, and the lifetime option does require a signed form. If a credit report needs to be run prior to the 48 hour waiting period – at least you are aware and informed, and can be on the lookout for suspicious phone calls or mailers from someone who has purchased your data.

The good news is by opting-out you can make it stop right away and protect yourself from “pre-approved credit offers” arriving via mail, which is one of the leading causes of identity theft in the US.

Take Your Privacy Back

You certainly have the right to shop for the best professional to meet your lending needs – but this should be done when and how YOU choose, not being done without your consent or permission. In fact, we even provide a “Shopping Around” guide on our website (www.suewoodard.com) and in hard copy as well, so that you know how to make educated, informed choices when selecting your lender. Call us if you’d like a copy sent to you right away. But looking around should be on your terms, not being done as a sneak attack, because they think you won’t know better. And unfortunately, these unsolicited marketing tactics are a nuisance and intrusive, but quite legal.

Take your privacy back. Take five minutes right now – opt out, and pass it on. Refuse to be a part of this system.

I am very excited about my new Website and Blog.

The website should be user friendly and filled with information that you need.

Thank you for your visit and please send me feedback about the website.