Professional Loan Consultants Needed Worldwide
As a GFA Registered Loan Broker, you too can join the ranks of our many other successful high earning money professionals earning top commissions & bonuses in their own loan brokering business assisting individuals and businesses obtain the loan and lease financing they need. By Registering as a GFA Registered Loan Broker, you are put in direct lender contact brokering loans & leases through our worldwide lender network, propelling you into your own lucrative and rewarding turn-key financial brokerage business. The GFA Registered Loan Broker Program provides you with everything you need to get started in this lucrative field. It represents a "flying start" into what should become your own lucrative turn-key financial brokerage business and could very well be all you ever need to begin enjoying the financial success you are seeking. With this Program alone you can offer a variety of loans of all types, $10,000 minimum - NO MAXIMUM, Including: residential and commercial mortgages - first & seconds, owner occupied & rentals, variable & fixed rate, 15, 25, 30, 40 & 50 year loans), equipment leasing, discount mortgage cash outs, debt consolidations, business expansion loans, import/export financing, contract & purchase order financing, irrevocable letters of credit, tax-deductible used equipment sale-leasebacks, pre-receivable financing, accounts receivable factoring & advances, and much more - More than enough to get you started and keep you busy earning TOP Commissions with your very own Financial Brokerage Firm. GFA Registered Loan Broker Program Key Benefits: Your Own Full Service Financial Brokerage Business - You Receive Complete Loan Broker Training! A Financial Service Business YOU own 100%! Work Part-Time or Full-Time From Home or Office - You'll be Fully Trained & Receive Ongoing Support! Make Your Own Hours - Be Your Own Boss! Receive TOP Commissions - NO SPLITS - ALL 100% YOURS!!! Hire & Train other Loan Consultants to bring you even MORE Business!!! Tap Into A World-Wide Lender Network and start earning a Six Figure Income - TODAY!!! Career Oppty: http://all4webs.com/l/t/erasto00/career_oppty.htm Graham Financial Associates http://finance.groups.yahoo.com/group/grahamfinancialassociates ----- Forwarded Message ---- From: "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> To: [EMAIL PROTECTED] Sent: Thursday, February 8, 2007 12:34:06 PM Subject: PFA Monthly Newsletter from Marty Eisler Monthly Newsletter From Marty Eisler Volume 7 Issue 2 For February 2007 Marty Eisler PFA 34145 Pacific Coast Hwy #328 Box 697 Dana Point, CA 92629 Phone: (949)240-0404 Fax: (714)242-1458 http://www.pfa.com Top Mortgage Story: New mortgage 'suitability standard' law proposed By Jim Woodard A new "suitability standard" law has been proposed by Rep. Barney Frank (D-Mass.), new chairman of the House Financial Services Committee a law that would require mortgage lenders to grant loans only to those applicants who are ... Read Full Article Other Mortgage Stories: Mortgage rates slowly rising Key factor that boosts home values Cash-out refi mortgage applications up Senate moves to prohibit banks from entering real estate brokerage Popularity rising for attached housing units The 50-year mortgage is introduced Number of home foreclosures dropping New home sales up, but down in 2006 State bond programs help home buyers with financing Prospects for non-residential construction very positive in '07 Home remodeling activity up Economy will grow in '07, MBA predicts Demand for rentals continues to grow New mortgage 'suitability standard' law proposed A new "suitability standard" law has been proposed by Rep. Barney Frank (D-Mass.), new chairman of the House Financial Services Committee a law that would require mortgage lenders to grant loans only to those applicants who are clearly in a position to make their monthly payments without undo hardship. Frank, of course, claims his proposal is designed to protect the interests of consumers. The law would require loan officers to make certain that applicants are financially capable of handling a requested loan before and after their payment increases, and that they fully understand all pertinent elements about the loan they select. The Mortgage Bankers Association takes a dim view of the proposal. "Making the lender responsible for determining which loan is suitable for a borrower will limit consumer choice and could deepen the slowdown in the housing market," said Kurt Pfotenhauer, MBA's senior vice president of government affairs. "After 25 years of the industry developing increasingly sophisticated and objective underwriting standards, a suitability standard would turn back the clock on fairness in lending by virtually requiring lender subjectivity in the lending decision. The lender is obligated to determine that a borrower will repay their loan before the lender extends the loan. The borrower, however, is best qualified to determine whether a loan that he qualifies for is suitable. To legally obligate the lender to determine suitability would limit credit to all but the most financially secure people," he said. Top Mortgage rates slowly rising Mortgage interest rates continued their slow rise in January, reaching an average of 6.25 percent, with 0.4 percent points (fees), for a 30-year fixed-rate loan by the end of the month, according to Freddie Mac. The rates are still well within what could be described as "historically low levels," still allowing home buyers to avail themselves of very low rates. The end-of-month rate is the third consecutive week of rate increases, the highest level since the week of Nov. 9. Despite slowly rising rates, mortgage applications were up during the last week in January. Both applications for mortgages to finance the purchase of a home and to refinance an existing loan were up, according to the Mortgage Bankers Association. "Mortgage rates are generally mixed on news that recent indicators, a measure of future economic activity, signaled steady growth in coming months," said Frank Nothaft, Freddie Mac's chief economist. "In the new housing market, construction is coming in stronger than expected despite a decline in one-unit residence starts." Top Key factor that boosts home values An interesting study has just been concluded by the National Association of Home Builders that identifies how various features in a home impact the property's value. The association's Housing Economics Department created a house price estimator, based on data from the American Housing Survey, a nationally representative survey of about 60,000 housing units conducted by the U.S. Census Bureau in odd-numbered years. Waterfront locations have the most significant positive effect on home values, the study determined. This applies to homes in every census region and in every type of setting. For example, being on the waterfront raises the value of a standard home in a Midwestern suburb by an average of 43 percent, and in a non-metro areas in the South by 44 percent. In the central city of a large California metro area, being on or near water raises the value of a home by 41 percent. The characteristic with the largest negative effect on home values is the presence of abandoned buildings within one-half block or about 300 feet of the home. Bothersome trash, industrial buildings, inadequate shopping and bad roads also have a significant negative effects on the price of a home. For more information about the house price estimator, check out the model online at: www.nahb.org/estimator/. Top Cash-out refi mortgage applications up An increasing number of homeowners are continuing to obtain needed cash by refinancing their existing mortgage. There's a very good reason for that trend. Home equity loans and lines of credit are usually tied to the prime rate. Those rates have been increasing significantly while long term mortgage rates have remained relatively low. Homeowners feel the best way to generate needed funds in today's market is through a cash-out refinance mortgage. According to the American Bankers Association, the dollar amount of home equity loans (including loans made through home equity lines of credit) increased by an annualized 14.6 percent for the first three quarters of last year, compared with all of the previous year. However, that's down from a 17.4 percent increase in 2005 and a 31.2 percent increase in 2004, ABA noted. Top Senate moves to prohibit banks from entering real estate brokerage The Community Choice in Real Estate Act, S.413, was introduced on Friday, Jan. 26 -- a bill co-sponsored by Senators Hillary Rodham Clinton (D-NY) and Senator Wayne Allard (R-CO) and is supported by other senators on both sides of the aisle. In a letter circulated during the same week the bill was introduced, Clinton and Allard explained that allowing banks into the real estate industry would "upend one of our nation's most fundamental economic policies -- the separation of banking and commerce -- and put our economy at risk." The letter also noted that "allowing banks into real estate hurts competition and consumers. It will result in bigger banks, higher costs and less consumer choice and service." Earlier in January, Congressmen Paul Kanjorski (D-PA) and Ken Calvert (R-CA) introduced the House version, H.R. 111. The bill is designed to keep real estate brokerage and management clearly defined as commercial activities and not financial matters, ensuring that the separation of banking and commerce continues as mandated by the Gramm-Leach-Bliley Act. Top Popularity rising for attached housing units A few years ago, the vast majority of newly constructed homes were single-family detached residences, often with large yards. Today, it's a different story. Within the past few years, there's been a significant swing toward attached units e.g., condominiums, townhomes. In these residential units, buyers share walls, common areas such as walks, pools, club houses, even yards. The most obvious advantage of an attached home is cost. The price of a high quality condo or townhouse is less than a comparable single-family detached home. They are both expensive in today's market, but the attached units are less expensive because per-unit building expenses are less. Other factors that appeal to today's home buyers relate to security, professional management of the property, freedom to leave their unit unattended for extended periods, and some residents like the community aspect of living in this type of complex. Attached housing was once known as being most popular with young, first-time home buyers and retiring seniors. Today, it's becoming the home of choice by all ages of buyers and their level of affluence. Especially popular are attached units constructed or converted in downtown areas, close to major employers. The trend toward attached housing has reached the point where more than half of new housing construction starts in many major markets are attached housing. This was determined by Hanley Wood Market Intelligence, a research firm that gathers data on home sales in markets nationwide (formerly the Meyers Group). Top The 50-year mortgage is introduced Last year, the 40-year fixed-rate mortgage became increasingly popular with borrowers -- primarily marginally qualified home buyers. Predictably, the 50-year mortgage is being offered by lenders and brokers this year. It's very close to being an interest-only mortgage, but the balance is amortized very slowly particularly in the early years of the term. It helps people qualify for needed financing in the purchase of a much-desired home, and the lower monthly payments make it possible to buy a more expensive home than would otherwise be possible in some cases. The downside is the extra cost the borrower will pay in interest. That extra interest cost is seen in every payment due to the long repayment period. Also, in many cases these mortgages carry a higher interest rate as compared with a conventional 30-year loan sometimes a quarter to a half a percentage point higher. If this type of mortgage interests you, discuss it in detail with a mortgage lender or broker, and compare it with other options. Top Number of home foreclosures dropping The number of property foreclosures are dropping, according to a report from RealtyTrac, a real estate research firm. About 109,650 properties nationwide entered some stage of foreclosure during the month of December, reflecting a decrease of nearly nine percent from the previous month. The report shows a national foreclosure rate of one new foreclosure filing for every 1,055 households. Colorado posted the nation's highest state foreclosure rate in December. Nevada's foreclosure rate dropped to second highest in the nation. Texas recorded the most new foreclosure filing of any state in December, taking the top spot from California, according to RealtyTrac. Top New home sales up, but down in 2006 New home sales fell last year by the largest annual amount in 16 years, according to Commerce Department figures. However, sales were up in December for the second straight month raising hopes that the worst of the sales slump for new housing is behind us. Sales in December rose by 4.8 percent, following an even bigger 7.4 percent rise in November. Those increases, however, were not enough to salvage the year, with total sales of 1.06 million units, down 17.3 percent from 2005. That marks the biggest year-to-year decline since the 17.8 percent plunge in housing downturn in 1990. Top State bond programs help home buyers with financing Many people are not aware of certain state bond programs that provide exceptionally good financing terms for first-time home buyers, or those who have not owned a home for at least the past three years. Such programs are available in many states each with their own terms and provisions. For example, a California program now offers 100 percent financing and a low rate of 5.5 percent for a 30-year, fixed-rate mortgage. It also offers "silent second" loans to cover down payment and closing costs. "These programs are available to any buyer in our area who earns less than $112,840 per year," said Elizabeth Alvarez, director of education for The Home Buying School, based in Ventura, Calif.. "The high sales limit for the program is $592,717 for existing construction." She noted that for employees of school districts that include a low-performing school, interest rates are even lower with additional down payment assistance funds of up to $15,000. After three years of service at a high-need school, this becomes a no interest loan, according to Alvarez. Top Prospects for non-residential construction very positive in '07 The American Institute of Architects, in their recently released semi-annual report, sees the 2006-2007 period as the best two year period for non-residential construction since the late 1990s. They expect a significant increase in non-residential construction this year (by about 7 percent, they predict). This industry niche grew by about 6 percent last year. "Unless there is a significant downturn in the overall economy, the prospects for nonresidential construction activity are very favorable," said Kermit Baker, AIA's chief economist. "The high level of projected activity will help offset some of the effects of the slumping residential market in past months." Top Home remodeling activity up In the wake of sluggish home sales in recent months, more homeowners are opting to stay in their existing home and remodel it to fit their current their housing needs, as opposed to selling and purchasing a new home. Many owners feel this will solve their immediate housing needs while enhancing its value in a later sale. A new survey of 5,000 homeowners shows a continuing trend toward major remodeling projects, with an increasing concern about the project's cost. All participants in the survey were considering either remodeling their home or purchasing a new one, according to Dan Fritschen, director of the study. An increasing number of homeowners planning a remodeling project plan to handle all or much of the work themselves, it was revealed in the study. About 32 percent said they will be their own remodeling contractor, up from 25 percent in a similar study a year ago. About 65 percent will do at least a portion of the remodeling work themselves. Half of homeowners now planning a major project will spend up to 30 percent of their home's current value on the project, according to the survey responses. Last year, only 33 percent were willing to spend that much. Most of the homeowners were planning to add rooms to their home e.g., bathrooms, dens, bedrooms. The most frequent additions are bathrooms. Nearly half (47 percent) of homeowners plan to remodel their existing bathrooms, while 55 percent plan to remodel their kitchen. The costs of their choice of materials were described as expensive (15 percent), economy (10 percent), and average for the type of home they live in (75 percent). A final question in the survey revealed that about 55 percent of respondents were optimistic and excited about their planned home remodeling project. About 10 percent were dreading the process. "Just a year ago with high home prices many homeowners were influenced by the wealth effect and were remodeling with a blank check attitude," Fritschcen said. "What the new survey shows is that homeowners are planning to spend about the same amount but are expecting to get more for their money. They are more inclined to do some of the work themselves in the interests of reducing costs." Top Economy will grow in '07, MBA predicts The economic growth in this nation will grow in the first half of this year and will accelerate from the second half of last year, it was predicted by the Mortgage Bankers Association. MBA expects economic growth to pick up, returning to a near normal rate over the course of 2008 through 2009, it was reported. "Residential investment is expected to decline further through the first half of this year but at a diminishing pace," said Doug Duncan, MBA's chief economist. "Economic growth should accelerate later this year to a trend-like pace as the drag from the housing market wanes. Long-term interest rates have remained historically low following two years of monetary tightening. Consumer spending growth is robust, helped by solid stock market gain, declining oil prices and healthy wage increases," he said. Top Demand for rentals continues to grow The demand for apartment rental units continues to grow, fueled by several important growth indicators. The number of people searching online for apartments continues to increase from year to year. The Apartments.com site reported a record number of visits last year nearly 45 million visits. That's an increase of 20 percent over the previous year. A recent Apartments.com survey revealed that 85 percent of renters plan to move to another rental apartment this year. Also, a Harvard University study indicates that the renter population is expected to increase by at least 1.8 million renters by year 2015. Top Jim Woodard writes a nationally syndicated newspaper column on real estate news and trends, carried in about 230 U.S. newspapers - along with freelance features. Reproduction of this report, in part or entirety, is prohibited without the express permission of the author. E-mail: [EMAIL PROTECTED] Web site: www.jimwoodard.net Click Here to Unsubscribe. ____________________________________________________________________________________ Looking for earth-friendly autos? Browse Top Cars by "Green Rating" at Yahoo! Autos' Green Center. http://autos.yahoo.com/green_center/ --~--~---------~--~----~------------~-------~--~----~ [RealEstateDeals] A part of http://realestatezoo.com Apply online for commercial real estate loans in just minutes at http://realestatezoo.com You received this message because you are subscribed to the Google Groups "RealEstateDeals" group. 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