April 25, 2007 by admin
Just a follow up to yesterdays post on existing home sales for the mortgage brokers and mortgage lenders out there. New home sales, as well as price, were up last month according to a new report. Here’s the details:
- Sales of new homes rose 2.6% in March (of note this was just short of expectations).
- Median sales price of a new home rose $2,200 to $254,000.
- There were 545,000 new homes for sale in March, slightly more than the 544,000 reported in February.
- The Northeast saw a 50% increase in new-home sales in March.
- The Midwest recorded a 9.8% increase.
- The South and West both saw slight decreases in sales of 2.7% and 0.9%, respectively.
As we have mentioned before, expanding your territories is a great way to increase your income during this current housing slump. Please visit our mortgage broker, and mortgage banker pages to learn more and apply for a surety bond that may be required by your new territory.
Category: Mortgage Banker, Mortgage Broker Surety BondComments (0)
April 24, 2007 by admin
In fact it was the largest since 1989. Sorry to keep reporting on this subjuect, and all bad news at that, but here are the details:
- The National Association of Realtors reported that sales of existing homes fell 8.4% in March.
- Eighth straight fall in median home prices, the longest such period of falling prices on record.
- The median price fell to $217,000
- The biggest one-month decline since a 12.6% drop in January 1989.
- The Conference Board said its consumer confidence index dropped to 104.0, in April, down from a revised 108.2 in March.
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There was weakness in every part of the country in March. Sales fell 10.9% in the Midwest. They were down 9.1% in the West, 8.2% in the Northeast and 6.2% in the South.
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“The negative impact of subprime is considerable,” Lereah said. “I expect sales to be sluggish in April, May and June.”
Mortgage Broker, and Mortgage Bankers, visit your respective pages and learn about applying in new states. Expanding the territories you work in is one way to cover some of your losses.
If your ready, apply now for your surety bond.
Category: General Surety Information, Mortgage Broker Surety BondComments (0)
April 13, 2007 by admin
It seams that many people try and secure their surety bond at the last possible minute, it seams that with some much going on, that this is one thing that often slips through the cracks. When you finally do apply, many become frustrated that the process is not instantaneous. As explained in our surety bond overview the process can take on average from one to four days.Â
Though you may feel helpless, there are some simple steps you can take to help the process:
- Be sure to respond to your agents question promptly. If an agent asks for additional information, please sent is ASAP. And agent will not ask for additional information unless it is absolutely necessary for your approval. Your application can not/will not be approved with out it.
- When applying, please make sure you fill the application out in full, and that the information is accurate. Missing information, or unclear information, will cause an agent to contact you for clarification. Misinformation can lead to even larger issues, and blatant lies can result in fraud charges. All of these issues slow the process and can ultimately lead to you being declined. Please take your time, and double check the information you provide before submitting your application.
- If you have been bonded before (or declined bonding) let your agent know this information. The bonding industry is small. This information can speed the process by allowing us to apply to the proper market first.
- Overnight shipping is available. Spend the extra money, and avoid mail delays.
We understand that many of these tips are common sense, but with so much going on, sometimes things are overlooked. Bryant Surety Bonds will always do its part to get you approved in a timely manner; these small steps are a way that you can assist us in that goal.
Category: Applications, Arc Bond, Bad Credit, Contract Bonds, Contractor License, Court, General Surety Information, Homepage, ICC, License and Permit, MVD, Mortgage Banker, Mortgage Broker Surety Bond, Operating Announcement, Sales Tax, Seller of Travel, Subdivision, TelemarketingComments (0)
April 11, 2007 by admin
I know this may sound awfully repetitious, and painful if this is your means of income, but here it is: “Mortgage applications declined for the fourth straight week, as falling demand to refinance home loans outweighed a rise in applications to buy houses, an industry group said Wednesday.� For those looking for the silver lining, only a small one was given:�(Unless the job market and the economy slump), relatively low long-term borrowing costs could help spur a housing rebound late in the year, many economists say.�Also, “Warmer spring weather typically brings buyers back to the market. This year, potential home purchasers will find a huge supply of unsold houses at prices perhaps much lower than the last time they shopped.�While waiting for that turn around, supplement your income by expanding the territory that you can write in. Visit our mortgage broker page to learn more.
Category: General Surety Information, Mortgage Broker Surety BondComments (0)
April 4, 2007 by admin
To follow up o a recent post, new numbers came out today that show that sagging demands for mortgages due to the rise in rates.
The report showed that the seasonally adjusted index of mortgage applications fell for the third straight week, dropping 3.2% to 649.5 in the week ended March 30. This is as reported by The Mortgage Bankers Association.
The UBS had this to say about the continuing stockpile of unsold homes, “Even a stabilization in sales will do little to work off quickly the high level of inventories of homes for sale, which in turn means further downward pressure on prices”.
Please visit our mortgage broker bond page for more information on how you can expand your market territories.
Category: General Surety Information, Mortgage Broker Surety BondComments (0)
