Archive for February, 2014

How to Make Networking Suck Less

Posted by Joel pate in Uncategorized. Tagged:

Most people know how valuable having a strong professional network can be, but they still despise “networking.” I think much of the reason why people hate it so much is because of their pre-conceived notions of what networking entails.
The fact is, networking doesn’t have to be dry and forced if you don’t want it to be. In fact, it can be even more valuable if you don’t treat it that way. Below are six ways to make networking suck less.
Be passionate and make it fun. Instead of trying to “network,” try to have fun, get to know people and build mutually-beneficial relationships over time. Remember, meeting people is, in fact, fun! Learn to appreciate the experience of getting to know someone and building a relationship. Talk about stuff you like to talk about, and ask questions that you legitimately want to hear the answer to.
Don’t go to events. I actually hate the term “networking” because most people associate it with big conferences and events with lots of people selling things and giving out business cards. Don’t go to those kinds of events.
Don’t get me wrong; you can meet some awesome people at big events. Conferences and events are a great way to start meeting people in a given industry and forming a network. However, after building up an initial base, I’ve found that the best networking doesn’t happen at events.
Ask for introductions or reach out directly. Instead of going to events and hoping that you will serendipitously run into someone that you’d love to meet, be more intentional. Think strategically about the people you want to have in your network, and then make a list. Find them on LinkedIn, and if you have any common connections ask the shared connection for an introduction. If you don’t have any common connections try reaching out directly.
If you are someone they would benefit from knowing they will gladly accept the introduction or respond to your outreach. To “warm up” your cold call, try interacting with them online by responding to their tweets or commenting on their blog. Make sure you have a strong online presence so that, when they receive your own or your shared contact’s email, they can easily see that you are someone they would benefit from knowing.
Host your own events. Invite a group of people, and ask each of them to invite a couple more people. Good people usually know other good people, so if you invite good people, you will likely meet even more good people. The event could be a breakfast, happy hour, dinner, a basketball game or pretty much anything you enjoy doing. Building relationships with your existing contacts is sometimes more valuable than meeting new people. In addition, by filtering this way, you’re more likely to meet great people.
Blog and tweet to reach a wider audience. Amazingly, blogging can actually help you accomplish several core networking strategies. Blogging is a great way to engage your existing contacts, as well as reach a new audience.
Writing content that’s valuable to your audience and displays your expertise is an effective way to reach a wider audience. It’s also more “scalable” in that it enables you to reach more people in the same amount of time than having individual meetings or attending individual events.
Connect with the connectors. Connectors are people who know a lot of people and make a regular practice of introducing their contacts to each other. They spend a lot of time networking and meeting new people. Knowing connectors gives you more eyes on the world and saves you time. If and when they find someone that you would benefit from knowing, they will introduce you.
Key takeaways:
Networking doesn’t have to suck unless you make it suck. Remind yourself to have fun meeting people, chatting about shared interests, and building relationships over time.
Instead of going to business-card-swapping events hoping for serendipity, network more intentionally by meeting people through introductions, smaller private events and cold outreach.
Blogging, social media and connecting with connectors are great ways to network in a more time effective way.

By: Mike Fishbein, www.entrepreneur.com

Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

How to Work with a Buyer Prospect — Good Listening Tips for Agents

Posted by Joel pate in Uncategorized. Tagged:

Have you ever been oversold? I know I have, and it generally rubs me the wrong way. In fact, if someone is trying to oversell me, I sometimes walk right out of the store and out of that salesperson’s life forever.
When a salesperson oversells, he or she usually talks himself or herself out of the sale. Selling a home is not a process of convincing someone to buy. Instead, a sale is made when you have probed so well that you learn what the prospect wants — and then recommend suitable options or solutions.
If you are new to sales, you may try to talk prospects into buying. When you are more experienced, however, you try to listen for openings and utilize what you’ve heard (or observed) to facilitate the buying process. Top producing real estate agents are often so sophisticated that they “listen” people into buying. This not only means that they delve deeply for needs and wants. It also suggests that they pay more attention to how the prospect reacts than to what has been said. Some of those reactions are cues from your prospect that they have heard enough and want you to move to the next stage of the process. Other times, these cues indicate that they are actually ready to buy.
Watch for Verbal and Nonverbal Cues
There’s a certain feeling in the air when the buyer prospect is ready to go ahead, and there is often a distinct change in the prospect’s body language and behavior when he or she is ready to buy. Look out for these potential buying cues:
The buyer prospect has been moving along at a smooth pace, and suddenly slows down. This means that the prospect is making a final analysis or rationalizing a decision.
The buyer prospect speeds up. Often prospects move more quickly when they are excited about what’s to come.
The buyer prospect asks lots of questions. Questions about included personal property or about the operation of a specific appliance are typically a good sign of buyer motivation.
The buyer prospect inquires about general terms of purchase or the specific details of a property (such as tax rate or school district). Many buyers start asking questions about initial investment, possible closing date, and so on, which is a good indicator of interest.
After you have observed some of these cues, try a test question (also known as a trial close question) to make sure you are reading your prospect correctly. As you get more sales experience, you will become more proficient at reading body language and other buying signals.
Put Your Foot in Your Mouth
Some people, however, start relying so much on positive home buying cues that they rush the process. Rushing the sales process can cause you to lose sales. Although it is important to know when to close, and even though you may have done this one million times before, the prospective buyer has not. Each prospect should always get your full presentation in order to make sure that he or she is making an informed decision.
Once you are fairly certain that the buyer wants to move forward, ask a “closing the sale” or consummation question. When you ask a question from which you expect an answer confirming that the prospect wants to go ahead with the purchase, one of two things will happen:
a) The prospect gives you a “yes” or an answer that indirectly confirms their desire to go ahead with the sale.
b) The prospect raises an objection or asks for more information to enable him or her to make a decision.
If you start talking before the prospect answers, you may lose control of the negotiations. Let prospects be silent and/or converse privately. Those silences could work to your benefit. That’s why you should always wait for folks to respond before you speak and why it is so important to keep quiet after you ask your “closing the sale” question. If you have a big mouth, this would be the time to put your foot in it – figuratively — to keep yourself quiet.
Listening usually starts with questions, but it also includes nonverbal cues. When you notice the cues and ask the right questions, you will get all the information you need to close more sales — just as long as you put your foot in your mouth.

By: Melissa Zavala, www.activerain.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Are ‘Smart’ Homes a Disturbing Phenomenon?

Posted by Joel pate in Uncategorized. Tagged:

Innovative technology has infiltrated new home construction. There’s an array of gadgets out there, and their promoters claim they’ll make your home “smarter.”
The advantage, however, is somewhat debatable. Never mind if your facial recognizer doesn’t recognize you, the security system considers you the intruder or your robotic parking garage decides you’re staying home. It seems many of these gadgets introduce new complexity into our lives. And that raises a question: When does the smart technology in our homes become just a little too smart?
Here are a few of these inventions:
Facial recognition technology. Used by a variety of devices to identify homeowners before performing mundane tasks like opening a door or calling an elevator. The technology (rather unpredictably) analyzes skin texture and the relative position, size, and shape of your eyes, nose, cheekbones, and jaw. Just don’t grow a beard or let those bangs get too long.
Robotic parking. Now used in new condominium construction because of the capacity to accommodate more vehicles than a traditional parking garage. While a laudable goal, faulty computerized parking has been claiming victims since first installed. Last year an automated facility actually caused a fatality. The incident was ruled an accident. Conceivably, the robot was the judge.
Aerial drones. Not just for the military anymore. For as low as $300 these remote-controlled aircraft take excellent photos of your property — or your neighbor’s. And while it may seem inconvenient when they’re crash-landed or piloted into bystanders, drones are really fun.
Intelligent toilets. Complete your lavatory experience with soft light, relaxing music and a warm blast of dry air. Some even come equipped with gender recognition and Bluetooth for your mobile phone. Alas, these toilets have become the target of hackers. According to cybercrime fighter Trustwave, “attackers could cause the unit to unexpectedly open/close the lid, activate bidet or air-dry functions, causing discomfort or distress to user.”
Self-sterilizing door handles. This is a new concept any hypochondriac should love. The one I’m familiar with is designed by Choi Bomi. Turning it triggers an ultraviolet lamp, which kills germs.
Controls for your entire home. Luckily, it isn’t just the commode that can be operated by your mobile phone. Now you can use your phone to set your appliances, lighting, climate-control, electronics and security systems. The underlying software lets all the devices communicate with each other. Unsettling, perhaps, but that’s an idea worth billions. Nest, one of the companies at the forefront of this futuristic movement, was just purchased by Google for $3.2 billion.
So are you ready to surrender control of your home? It’s certainly a move Joaquin Phoenix’s girlfriend in the Oscar-nominated movie “Her” would endorse. But then again, she’s an operating system with dubious motives.
Even in real life, the consequences of our reliance on technology can get the better of us. An entertainment exec I know set up an elaborate home security system — then used it to accidentally lock himself in his basement music studio. He spent more than seven hours banging on the window trying to get the attention of his guards, but gardeners mowing the lawn muffled his distress calls. Eventually his wife returned home to find him.
How energized we are to rely on these contraptions when we can’t even get music playing in the right zone. And really, how many times must we reset the router?
When it comes to our homes, smart becomes too smart when the modern technologies accepted as necessary become obstructions to daily life. Like when your home is so technically complicated that someone under the age of 18 must show you how everything works. Or when there’s not enough time in the day to write out all the instructions necessary to leave Mom home alone.

By: Vanessa Grout, www.forbes.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

How to Be More Productive

Posted by Joel pate in Uncategorized. Tagged:

These five surprising strategies just might help you outwit your proclivity to procrastinate — and get the job done already.
Soak Up Some Rays
If you don’t receive enough exposure to natural light, you can feel jet-lagged. This happens because your circadian rhythms — including the way your body responds to the changes in light level between day and night — are disrupted. Try to get outside in the morning, when your body craves brightness, and then stand near a window a few times a day when you sense yourself slowing down. Getting enough sunlight can stimulate your internal clock, providing you with the energy you need. By the way, it will also improve your sleep.
Christopher Meek is an associate professor of architecture at the University of Washington’s Integrated Design Lab. He lives in Seattle.
Give a Compliment
A tech company I worked with found that its employees became more productive after the supervisor started offering one piece of praise a day. It wasn’t that each person received a compliment. All it took was just one flattering remark to make everyone, including the manager, feel more positive. Why? Amazingly, whether you smile yourself or watch someone else smile, the happy facial expression can trigger your brain to release dopamine — a chemical that helps control your body’s reward centers and, in turn, kick your productivity into high gear.
Michelle Gielan is a cofounder of the Institute for Applied Positive Research, a company that works with businesses and schools to increase productivity and happiness. She lives in Chicago.
Do Something Mindless
If you need to make a lot of progress on a project, you may be tempted to work on it nonstop. Don’t fall into that temptation. No one can focus on one single task all the time. Ensure that you break up your day — and your thought patterns — by routinely engaging in an activity that’s repetitive and not intellectually taxing, such as vacuuming or gardening. When your mind wanders, creativity can flow, enabling you to synthesize information in a unique way. Then when you sit back down to your work, you’ll have new ideas and be able to get more done.
Jonathan Schooler is a professor in the department of psychological and brain sciences at the University of California in Santa Barbara. He lives in Santa Barbara.
Challenge Yourself Physically
A lot of people don’t think they have time to fit exercise into their busy schedules. But I’ve found that engaging in endurance activities, such as a long bike ride or a triathlon, makes me more disciplined and diligent. If I go a few days without doing these things, my productivity declines. My energy decreases, my focus wavers, and I can’t make decisions as easily. So I encourage people — even those who don’t think of themselves as athletes — to commit to a physical event, such as a walkathon or a community 5K. Once it’s on your schedule, you’ll make the time to train and realize that you can accomplish more in a day than you thought.
Ted Kennedy is the founder of CEO Challenges, which organizes sports competitions for CEOs and business owners, and a cofounder of Ironman North America. He lives in Boulder, Colorado.
Think Small
I tend to avoid projects that seem too big; so in order to be productive, I have to cut overwhelming tasks down to size. I do that by working in small increments. When I first started to write novels while running a magazine, I told myself that I would write for only 15 minutes a day. I knew that working for a short amount of time was an achievable goal, and I managed to get 10 books written in just this way.
Kate White is a former editor in chief of Cosmopolitan magazine and the author of numerous books, including, mostly recently, I Shouldn’t Be Telling You This. She lives in New York City.
There you have it: five great ideas to increase your own productivity. Now, go get something done!

By: Jennie Dorris, www.realsimple.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Are You “Good” Busy or “Bad” Busy

Posted by Joel pate in Uncategorized. Tagged:

Real estate sales professionals, regardless of their individual production, are busy people with a lot of balls in the air — including finding new business (prospecting), serving existing clients and running a business (in many cases with very little administrative support).
We all get the same 24 hours each day, of course, yet some people seem to be far more productive than others. That’s because productive people are, what I call, “good” busy.
Good busy is when you wake up in the morning, review your written goals (you do have those, right?), create a schedule based on those goals, do some lead follow-up, call back your past clients, touch base with your sellers and connect with your buyers about new listings. You get the idea.
Bad busy is constantly checking and responding to email all day long, wasting time on social media sites, aimlessly surfing the Internet and trying to complete every little task as soon as it lands in your lap.
At their most basic, good busy is being proactive while bad busy is being reactive.
Our ego likes to be busy; for some reason being busy makes us feel important. I’ve seen people get completely addicted to the busy rush, feeding off the adrenaline of madly crossing items off their “to do” list. It’s almost like a drug.
But the trouble is this: when we are that busy we’re not bringing any clarity to our actions and asking these three important questions:
1. Do I need to be doing this now — or at all?
2. Is this something I could be delegating to someone else?
3. Is this serving my life or my business in any real way?
The only way to consider these questions is to slow down, step off the treadmill and take a step back for a clearer perspective on what uses up all of your time each day. One really simple, yet effective way to do this is to keep a time log for a week, and write down exactly how you spend each waking hour of that seven-day period. It’ll be a real eye-opener for you!
It always amazes me that “busy” can seem like something that just happens to us rather than something we actually created ourselves. At some point, though, we choose to take on all of those things that make up our busy lives. But, if you’re too busy, you have only one person to blame. You, of course.
Once you start being more intentional about how you spend your time, you’ll start to see that you’re not really busy; you are actually over-committed. And when you begin being less reactive and more proactive you’ll begin to see that you are in charge of how your day goes. You are, so to speak, the captain of your own ship.
Yes, I know; I know. There will always be exceptions to this rule. I’m not saying that unexpected situations and unforeseen disasters won’t strike from time to time. Stuff happens. But for those who have chosen to take the reins of their life, versus letting life drag them all over town, I’m sure they’ll find that life’s hiccups become a little easier to handle. And then so much more truly productive and profitable activity occurs.
Can you think of a better, more effective way to spend the rest of 2014…or the rest of your life?

By: Richard Robbins, www.remonline.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Race Gap on Conventional Loans

Posted by Joel pate in Uncategorized. Tagged:

African-American and Hispanic borrowers have been largely shut out of the conventional mortgage market, according to a new report from Zillow and the National Urban League. Citing loan data reported under the Home Mortgage Disclosure Act, along with results from a Zillow poll of 700 mortgage applicants in December, the analysis found that whites accounted for about 69 percent of all conventional mortgage applications. The share of applications filed by blacks was under 3 percent; Hispanics represented only 5 percent.
Black and Hispanic borrowers are far more likely to apply for low-down-payment loans insured by the Federal Housing Administration. About 57 percent of black applicants and 60 percent of Hispanic applicants applied for FHA loans, compared with 30 percent of white applicants.
Access to financing that requires as little as 3.5 percent down is key for minority applicants who, on average, have lower incomes and credit scores than whites, said Stan Humphries, Zillow’s chief economist. They also have far lower rates of homeownership, which makes it harder to accumulate wealth over time and across generations. “Higher down-payment requirements have had the biggest impact on minority applicants for conventional mortgages,” Mr. Humphries said. “They just don’t have the savings nonminority groups have.”
And their conventional mortgage applications are more likely to be denied. One in four black applicants was turned down, compared with one in 10 white applicants, the report said.
As conventional lending standards have tightened, FHA-backed loans have become crucial to maintaining credit access in minority communities. But at the same time, Mr. Humphries said, FHA’s dominance among such borrowers hints at a problematic trend: “a different path to financing based on your race and ethnic group.”
And the FHA path can be costly. Although FHA-backed loans offer the initial advantage of less money down, their mortgage insurance premiums are considerably higher than premiums on conventional loans.
Julia Gordon, the director of housing finance and policy at the Center for American Progress, a liberal research group, has concerns about what she calls “the dual housing market,” and says she believes the conventional market ought to be making lower-down-payment loans more widely available. “Like all the other separate-but-equal arrangements,” she said, “this is not good for consumers or the market or for taxpayers. We are seeing creditworthy people who should be able to get loans in the conventional market but can’t.”
Ongoing discussions in Washington about how to wind down Fannie Mae and Freddie Mac should include a commitment to ensure that lenders make credit available equitably, she added.
Another approach to broadening access to conventional financing is to make it easier for first-time buyers to accumulate a larger down payment. One way that could be done is through reform of the mortgage interest tax deduction, which currently benefits wealthier homeowners, Mr. Humphries said. “If our goal there is to stimulate homeownership,” he pointed out, “it would be more efficient to restructure that as a tax credit for first-time home buyers as opposed to a deduction. That would help with a down payment.”
Jason R. Gold, a senior fellow at the Progressive Policy Institute, a research group, also proposed the creation of “HomeK” accounts, which would give workers the option of using up to half of their contributions to 401(k) retirement savings for a down payment on their first home.

By: Lisa Prevost, www.nytimes.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

MMRecap for Feb. 24th

Posted by Joel pate in Uncategorized. Tagged:

Due to President’s Day, last week was another four-day week, but this one started on a promising note. The yield on the 10-year Treasury note, which moves in the opposite direction of price, dropped four basis points Tuesday morning, thanks in part to Fed Chairwoman Janet Yellen’s comment that she would continue the Fed’s market-friendly policies.
Economic indicators disappointed on Tuesday, coming in below expectations. Of course you can’t ignore the miserable weather most of us have suffered over the past few weeks and the impact it has had across the country. Tuesday, the Empire State index on manufacturing conditions plunged to 4.5 from 12.5 in January. The National Association of Home Builders confidence poll also dropped sharply, falling 10 points to 46 in February.
Let’s blame the weather for Wednesday’s report that showed the major drop in housing starts/building permits in January. Starts plunged to an annual rate of 888,000 units from December’s 1.048 million units, while permits dropped to an annual rate of 937,000 from the previous 991,000 units. In addition, the National Association of Home Builders confidence poll slid 10 points to 46 in February.
January’s producer price index rose 0.2% from the previous 0.1%. The core rate, which excludes food and energy prices, held at 0.2%.
The minutes of the January meeting of the FOMC, released Wednesday afternoon, revealed that the Committee is discussing raising the fed funds rate, which has held at “0%” since December 2008. Initially, it would increase in 0.25% increments when unemployment reaches 6.5%. However, unemployment came within a hair of hitting that mark in January, when it fell to 6.6%.
Several Committee members believe that lowering the rate if unemployment hits 6.5% would be premature, but others think it could or should be raised by the “middle of this year.” Should these scenarios occur, investors will probably suffer another round of angst waiting for the decision. If nothing else changes, the Committee will likely pare another $10 billion from its monthly bond-buying program.
Thursday began with initial jobless claims for the week ended Feb. 15, and they remained close to the prior week’s total of 339,000, coming in at 336,000. Continuing claims, those seeking a second or more weeks of benefits, were little changed at 2.981 million. Later, the Philly Fed Index on manufacturing fell -6.3% from the previous 9.4 reading—bad news. And leading economic indicators dipped by -0.3% from the previous 0.0% reading.
When the markets closed, the 10-year yield remained at 2.71%. Only the Dow closed in negative territory, dropping 24 points, or -0.15%. The unstoppable Nasdaq added 28.75 points, or 0.68%, and the S&P 500 tacked on 2.71 points, or +0.12%.
Bonds were down Thursday morning, with the yield on the 10-year note dropping to 2.68%, but when the markets closed, it was back up to 2.73%.
Friday also offered a couple of disappointing reports. And leading economic indicators slid to -0.3% from the previous 0.0% reading.
Existing home sales in January took a horrendous fall. Total sales were 4.62 million units, down from 4.87 million in December. That news bumped the 10-year yield down to 7.73% from 2.76%.
When the markets closed, it was obvious that it was a downer of a day. All three indices closed in the red. The Dow fell close to 30 points, or -0.19%. The Nasdaq slid 4.14 points, or -0.10%, while the S&P 500 dipped by 3.53 points, or 1.92%.
According to the Mortgage Bankers Association, mortgage applications fell 4.1% during the week ended February 14. Refis were also down 3%. The seasonally adjusted purchase index plunged 6%, its lowest level since 9/11. The 30-year conforming loan interest rate rose to 4.50%.
Once again, today is a “no report” Monday, so traders are on their own as far as economic reports go. However, the rest of the week makes up for that.
Tuesday begins with the Case/Shiller home price index for December, which is expected to show a 12% increase year-over-year. The Federal Home Finance Agency’s home price index follows. It showed a 0.1% increase in November, but no further estimates are available.
The market-moving consumer confidence report for February probably won’t influence trading this time around. Analysts believe it could edge up to 81 from the previous 80.7, which if true, would be ignored.
New home sales are up first on Wednesday, but they’re facing the same problems as most of the reports. Annual sales in December were listed at 414,000 homes. The outlook for January is 400,000.
Thursday, as usual, begins with initial jobless claims, which could drop by 6,000 to 2.981 million.
Orders for durable goods, big-ticket items meant to last more than three years, fell by -4.2% in December, but things are looking up. A -0.2% decline is expected. Excluding orders for transportation, e.g., planes, trains and automobiles, orders could fall. They are expected to slide -0.6%, versus the revised -1.3% decline in December.
Friday begins with the most important report of the week—the second estimate of 4th quarter GDP. (The GDP is published three times each quarter: the initial report, the second estimate, and the final report.) It is expected to drop to 2.4% versus the previous 3.2%. That would send the 10-year yield down.
It will be followed by the Chicago PMI reading on manufacturing conditions in the Midwest. Economists believe it will fall to 55 from the previous 59.6. The University of Michigan’s consumer sentiment survey has possibilities. Analysts predict it will increase to 82 from 81.2.
The final report, pending home sales in January, hopefully will end on a positive note. They fell -8.7% in December, but should recover to -1.0% in January.

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

MMRecap for Feb.17th

Posted by Joel pate in Uncategorized. Tagged:

The financial markets have been poster children for volatility lately, but they calmed down last Monday due to lack of information. No reports were scheduled, so stocks and bonds held close to the previous Friday’s close — except for the irrepressible Nasdaq, which just keeps on climbing.
When the closing bell rang, the 10-year Treasury yield, which moves inversely to price, held at 2.68%. The Dow added 7.71 points, or 0.05%, while the S&P 500 edged up 2.82 points, or 0.16%. The Nasdaq climbed 22.31 points, or 0.54%.
Last Tuesday, stocks showed their overwhelming support for the new FOMC Chairwoman Janet Yellen. When she said that monetary policy is on a steady course and will not likely change much in the future, stocks applauded her in the only way they know how — each of the major indices rose by more than 1.0%.
The Fed has cut $20 billion from its bond buying program so far, but the job picture remains murky, which could make investors edgy when the minutes from the January 29 meeting are released. The initial reaction was overwhelmingly positive, so it should be well-received. The only economic release, wholesale inventories for December, is almost never a factor, and it wasn’t on Tuesday. Inventories rose 3.0% versus the previous 5.0% increase but were far below estimates of 6.0%.
When the markets closed, stocks had posted big gains. The Dow added 192.98 points, or 1.22%. The Nasdaq rose 42.88 points, or 1.03%, and the S&P 500 was up 19.91 points, or 1.11%. The yield on the 10-year note also rose, closing at 2.72% — up four basis points from Friday.
Wednesday was another “no news” day, and the markets knew it. Stocks opened up, but slid during trading hours, while Treasury yields continued to rise.
The only newsworthy event was President Obama’s announcement that businesses with new or renewed government contracts must raise their employees’ minimum wage to $10.10 an hour. He added that the minimum wage for workers relying on tips as part of their salaries will increase to $4.90, up from the present $2.13 an hour.
Stocks rose at opening, but edged down as the day went on. The Dow closed down 30.83 points, or -0.19%, while the S&P 500 edged down 0.49 points, or -0.03%. The Nasdaq added 10.24 points, or 0.24%. The 10-year yield climbed again, jumping to 2.76% from 2.72%.
Everyone was waiting for Thursday, but the data disappointed. Initial jobless claims for the week ended Feb. 8 rose by 8,000, although continuing claims, those receiving a second or more weeks of benefits, was close to unchanged.
The other influential report, January retail sales, bombed. December numbers were lowered from the original 0.02% gain to -0.1%. January sales fell -0.4%, which was far below expectations. Excluding auto sales, retail sales posted double goose eggs — 0.0%. The final report, business inventories for December, rose 0.5%, but it was ignored by the markets.
There wasn’t much love shown in Friday’s Valentine’s Day releases. Export prices in January were up 0.2% but far from December’s revised 0.5%. Import prices fell -0.3% from the previous 0.3% mark. Industrial production also dipped -0.3% versus the previous 0.3% increase. Capacity utilization edged down to 78.5% from 78.9%. The final report, the University of Michigan’s preliminary consumer sentiment report for February, held at 81.2, but that was better than expected.
When the markets closed, the 10-year yield had added two points, rising to 2.75%. The Dow was the most-loved index, climbing 127 points, or 0.79%. The Nasdaq struggled but closed up 3.36 points, or 0.08%. The S&P500 gained 8.80 points, or 0.48%.
The Mortgage Bankers Association reported that during the week ended February 7 mortgage loan applications fell 0.2% from the previous week. Refis were down 0.2% and the purchase index fell 5% from the previous week. The contract rate for a 30-year conforming loan dipped to 4.40% from 4.42%.
Even though this week is shortened due to the Presidents’ Day closing, a number of noteworthy reports will be released beginning on Tuesday. February’s NY Empire State index on manufacturing leads off, but it is expected to fall to 11.0 from 12.3 in January. The National Association of Home Builders will also release its confidence report, which should hold at a respectable 56.0.
Wednesday features data on applications for housing starts and building permits in January. It goes without saying, but we’ll say it anyway: The weather in a large part of the U.S. has negatively affected many aspects of businesses in a number of ways. In January, the annual number of housing starts fell to 963,000 from 999,000 in December. Likewise, applications for building permits dwindled to 986,000. That could boost Treasury yields, but the numbers were probably weather-related.
That will be followed by the PPI, or producer price index, which checks inflation at the wholesale level. In January it rose 0.1%, down from 0.4% the previous month. The decline shows a lack of demand. The core rate, which eliminates food and energy prices, was up 0.2% versus 0.3% the previous month.
In addition, the minutes of the FOMC meeting on January 29 will be released. Stocks rose in approval after that meeting. Whether they revisit the surge is questionable, but it could happen and Treasuries would likely suffer if it does.
Thursday begins with initial jobless claims for the week ended February 15 and continued claims (those receiving benefits for the previous week or weeks). This will be followed by the consumer price index for January, which looks for price changes at the retail level. The CPI is expected to increase by 0.1% — a significant decline from the previous 0.3%. But the core rate should rise to 0.2% versus 0.1%.the previous month.
The Philly Fed index on manufacturing conditions in the Mid-Atlantic States could edge up to 10 from 9.4, but that shouldn’t affect the markets. Neither should Leading Economic Indicators for January, which attempt to predict the direction of the economy over the next six to nine months. They rose 0.1% in December, but no predictions are available for January.
There is only one report due Friday, but it’s important — existing home sales in January. Analysts believe sales will plummet to an annual rate of 4.69 million units from the previous rate of 4.87 million. The holidays and bad weather will likely factor into the decline.

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Waking Up To A New Era

Posted by Joel pate in Uncategorized. Tagged:

Following what seemed like an eternity of foreclosure spikes and depressed home values, the U.S. economy and housing market finally went into recovery mode last year. Home values in many markets saw double-digit appreciation, resulting in a shift back toward traditional purchase loans after years of distressed sales dominating the market.
Even with all of this positive momentum, many brokers and originators find themselves beginning 2014 feeling troubled by lagging consumer confidence. With the recent federal-government shutdown, continued debt-ceiling debate and predictions of rising interest rates weighing heavily on the minds of consumers, lenders are trying to prove their ability to get borrowers into the homes that they want.
A new era has arrived, one that will be shaped by shifting underwriting demands.
Refinances, once our bread and butter, continue to decline rapidly, forcing mortgage banks and brokerages to rethink their target markets and the way that they compete for purchase business. And the competition is fierce; even traditional lenders and big banks are working hard to get ahead.
Remaining competitive in this new landscape requires an ability to offer consumers — and the real estate professionals and loan brokers who serve them — more of what they need in this market: a breadth of products, speedy processing times and more realistic expectations regarding what constitutes an acceptable credit score today. Above all, however, the most important deliverable is simply the ability to close, something that depends on underwriting that’s efficient and thorough.
To better understand why effective underwriting is more important than ever, let’s take a closer look at what matters most among today’s consumers and the professionals who work for them.
Product breadth
To account for the unique financial situations and expectations of a larger pool of borrowers, mortgage banks and lenders must expand their offerings to include a wide variety of conventional and government-loan products. The growing number of government offerings available to borrowers is impressive and well worth the consideration of organizations looking to grow their portfolios.
Effective government lending requires a deep knowledge of underwriting terms. These loans rely heavily on manual underwriting, a process that may seem foreign to underwriters who entered the field in the wake of advanced process-automation tools. Underwriting teams must be trained to account for the difficulties associated with processing loans that are driven by exceptions to the norm.
Speed
In today’s market, the ability to close quickly is crucial. Consumers depend on this speed to avoid losing their homes to other buyers, and agents rely on it to ensure that they get paid.
According to Ellie Mae, the mortgage industry’s average time to close a purchase loan was 46 days in 2012. Although this average has improved slightly over the past year (dropping to an average of 43 days this past September), further enhancement across the industry is in order. Ideally, an average of 25 days to close should be the new standard. Significant refinements in terms of underwriting can pay off with greatly expedited processing times, thereby reducing the time to close to as few as 15 days in some cases.
By providing borrowers with a shorter, more predictable timeline, mortgage bankers and originators can enjoy an obvious competitive. By promising qualified borrowers that their documents will be ready for closing within 25 days or fewer, your company can make itself a go-to lender among a growing number of purchase-market homebuyers.
Realistic expectations
In the wake of the recession and the related housing-market meltdown, mortgage banks and lenders should take a fresh look at their qualification requirements for borrowers and make sure that they match up with reality. Otherwise, they could be overlooking potential groups of borrowers, including those who temporarily may have been affected by a lagging job market and now are employed.
Require FICO scores higher than 700 may be overlooking millions of otherwise-eligible borrowers. Additionally, there should be greater flexibility concerning the appropriateness of conforming, high-balance and jumbo loan options. To accommodate the needs of today’s market, some mortgage banks and lenders have expanded their credit requirements, reducing their minimum FICO scores to 580 for certain products and making the qualification process easier on borrowers. This can widen the pool of applicants and attract the attention of institutions that wish to sign on as third-party originators.
Lowering credit expectations means taking on an additional risk. This risk can be minimized considerably in the underwriting process by requiring lower loan-to-value ratios and by reserving part or all of the fees and gain on sale as part of the credit-risk management process.
Quality underwriting
The mortgage community has been preoccupied with the uncertainties surrounding the qualified mortgage (QM) rule set to take effect. The industry continues to wait for additional guidance from the Federal Housing Administration, the U.S. Department of Veterans Affairs and the U.S. Department of Agriculture concerning the guidelines specific to their government products. We are, however, beginning to understand generally what will be needed for conventional loans.
Mortgage professionals should pay close attention to whatever transpires in terms of approved regulations and begin to anticipate possible outcomes. As various mandated changes become more apparent across the industry, mortgage banks and lenders that have been tracking the various compliance and underwriting implications will be in the best position to execute the necessary program changes fluidly and move to market QM loans faster, making the brokers and real estate professionals that they partner with more successful and the clients of these parties their biggest fans.
Whether you’re originating QM loans or non-QM loans, ultimately it’s the underwriting that will make or break your company. In time, banks and other lenders with the ability to underwrite and approve all types of loans should have a natural advantage in attracting repeat business.

By: Karen O’Brien, www.scotsmanguide.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Writing Real Estate Slogans: Why, When and How

Posted by Joel pate in Uncategorized. Tagged:

Do you have a slogan for your real estate business? If not, why not? Real estate slogans are a fun, easy way to make your business more memorable and explain what you do in just a few words.
We’re not saying that you need to slap a slogan on everything in site or make your kids wear “My dad, your REALTOR® for life” t-shirts (generally a bad slogan, by the way), but a catchy phrase is handy to have for the back of your business card. Or, say, your website header.
Why:
A slogan distills the core of your business and creates a memorable identity for you or your team. Good slogans create differentiation in the marketplace. They capture attention and get stuck in people’s heads. They can also help focus your marketing.
When:
There are many times you may want to use a slogan or catchphrase as part of your overall marketing strategy. Besides your business card and website, your email signature, print ads and thank you cards are also good places for you to include a slogan. Do you give away pens or magnets? Brand those, too! Any swag you share has the power to organically spread your slogan.
If you don’t have a slogan or you do, but it’s out of date or hard for your friends to remember, spend a little time between meetings to brainstorm ideas. An afternoon of ideas can easily turn into a year or more of effective marketing. Whatever you do, don’t use the sloganizer… unless you just want to have a little bit of fun!
How:
Ah, this can be the tricky part. A good catchphrase is: Short (a sentence or less), Original; Memorable.
Your real estate slogan should identify the benefit of choosing you. Rhyming is A-OK, as long as it works for your brand.
In an article about catchy real estate slogans, REALTOR®Mag profiles a successful agent in Jamison, PA. His name: Scott Geller. His slogan: Scott Geller, the Home Seller. It’s short, rhymes and tells you that not only is he a sellers’ agent but also he actually sells homes. Pretty good for five words, right?
Of his slogan, Scott says, “This name and occupation awareness have brought me enough repeat and referral business that I do not even need to advertise to the general public.” In fact, he has been introduced by friends and family as “Scott Geller, the Home Seller” so many times that some people probably think it’s his real name.
This is an excellent testimony to the power of a good catchphrase. In contrast, a bad slogan will be unremarkable and generic. Something like “Your REALTOR® for life” or “An agent you can trust” may be accurate, but how does it set you apart from your competitors? Instead of saying something that may be true about any number of agents (we certainly hope you can trust most of them!), say something that’s specific to you and speaks directly to your audience.
And always, always, always do an Internet search of your proposed slogan to make sure no one else in your area is using it before shipping your new marketing materials off to the printer.
Here are some non-real estate catchphrases that have gained instant recognition worldwide. How many can you identify?
Melts in your mouth, not in your hand. (M&Ms)
A diamond is forever. (De Beers)
Stronger than dirt. (Ajax)
The other white meat. (Pork)
Keeps on going and going and going. (Energizer)
And here are some real estate slogans that we think do a good job representing their respective agents:
Atomic Houses for Atomic People. (an agent that specializes in mid-century properties)
Your Golf Real Estate Specialist. (absolutely to the point for that niche market)
Your Local Connection for Global Exposure. (an agent who speaks 4 languages and works with international transactions)
Selling Jersey City. (local, direct and reinforced by using as web address)
Don’t Panek – Call Blaine Dushanek. (rhyming, memorable and speaks to the urgency buyers and sellers feel)
One Caveat:
Having no slogan at all is usually better than having a bad one. A bad catch phrase, like “We know where you live,” is more likely to scare clients away. The exception would be a slogan that’s so bad, it’s good but only if you have the personality, brand recognition and strong network to back it up.

By: Geneva Ives, www.point2.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com