Origination pro update

Free Tour of the MortgageQuest CRM: Click Here

Follow Us on Facebook & Twitter: Special Event Invite Your Realtors and Other Referral Sources Maximum Sphere Marketing Tomorrow March 13 2:00 pm to 3:30 pm EDT i Register Here Your sphere is your most important marketing resource. Using your sphere is the secret to a career of unlimited referrals. This session will show you how to fully identify, grow and market to your sphere in the right way. And even better, this topic is important for all of your referral sources. Only OriginationPro gives you a tool to learn while you add value to your sphere by inviting others. The ultimate value! This session is commercial free! Can't make it --but want the recording? Register For Free Trial of the OriginationPro Marketing System and you will have access to our marketing materials and recordings. FREE Trial Here **************************** Don't Throw Money Away in 2013 Interested in making money helping people as a credit repair representative? Free Webinar on March 19-- Register Here Finally! A compliant credit repair company you can rely upon for advice and service. Credit Repair Resources was just voted the best small credit repair company in America! Owned by a Consumer Credit Attorney for maximum effectiveness as well as service. Contact: Chad Kusner, Credit Repair Resources, chad@crr760.com www.crr760.com 888.927.7760 ******************************** Want to become part of our National Loan Referral Network? Learn More March 12, 2013 ⇒ An Employment Shocker? ⇒ FHA Issues Clarification on New Rules ⇒ Fannie Mae: Give Them Money to Refi! ⇒ How To Approach a Top Realtor ⇒ Maximum Sphere Marketing Employment Shocker? Last week we wrote that we were surprised that the stock market had fared so well in the face of the sequestration impasse the government did not seem to be able to resolve. Sometimes the stock market can be a good bellwether of news that is coming. Sometimes not so much. In this case, the employment report capped a two week period of surprisingly good news. Instead of companies shaking in fear of government cutbacks, they added almost a quarter of a million jobs in February, bringing the unemployment rate to 7.7%. This was the lowest level since 2008. The good news is emanating from the housing industry and the rise in construction jobs was a significant factor in the strong employment report. Two questions follow -- are these numbers real and can the government mess things up by being their dysfunctional selves? Many did not believe that the real estate recovery was real especially because so many had predicted that sales would languish for as much as a decade. But now that we have had a full year of solid growth in sales and prices, most analysts are changing their tune. With regard to employment growth, one month of solid jobs growth could be just that--or could even be revised downward next month. However, if the real estate recovery is for real, it is logical to assume that jobs will continue to expand and the unemployment rate will continue to sink. Can the government throw a wrench into the works? We know that there will be continued shrinkage in the government sector whatever solution is adopted or if the budget cuts stay in place because the government can't get their act together. One would surmise that contraction of government spending will hurt the economy in the short run but make way for more solid long-term growth. For now, the argument for short-term growth is winning out. Rates were stable in the past week, however these numbers did not reflect increases absorbed on Friday. Freddie Mac announced that for the week ending February 28, 30-year fixed rates rose slightly 3.51% to 3.52%. The average for 15-year loans remained at 2.76%. Adjustable rates were also stable, with the average for one-year adjustables falling slightly to 2.63% and five-year adjustables increasing slightly to 2.63%. A year ago 30-year fixed rates were at 3.88%. Attributed to Frank Nothaft, Vice President and Chief Economist, Freddie Mac, "With gross domestic product growing only 0.1 percent in the fourth quarter of 2012, inflation remains at bay and consequently rates low. In fact, the price index of personal consumption expenditures rose only 0.1 percent in January which was below the market consensus forecast. Moreover, these low rates are helping to revive the housing market. For instance the CoreLogic® home price index rose 9.7 percent between January 2012 and 2013, marking the large st annual increase since April 2006." Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes. Current Indices For Adjustable Rate Mortgages Updated March 8, 2013 Index March 7 February 6-month Treasury Security 0.11% 0.12% 1-year Treasury Security 0.15% 0.16% 3-year Treasury Security 0.40% 0.40% 5-year Treasury Security 0.85% 0.85% 10-year Treasury Security 2.00% 1.98% 12-month LIBOR 0.764% (Feb) 12-month MTA 0.178% (Feb) 11th District Cost of Funds 0.962% (Jan) Prime Rate 3.250%