Archive for March, 2014

MM Recap for March 31st

Posted by Joel pate in Uncategorized. Tagged:

With no economic reports and no hair-raising news from the Crimea or the Ukraine, there was little to report last Monday. Stocks opened in positive territory, but the major indices soon went negative. Several social media stocks took big hits, bringing the Nasdaq down. Through all the ups and downs, U. S. Treasury yields fell by two basis points, closing at 2.73%. When the markets closed, the Dow had shed 25.08 points, the Nasdaq took an uncharacteristic loss of 50.40 points, and the S&P 500 dropped 9.08 points.
Tuesday’s reports housing-based; both the Case-Shiller Price Index of the nation’s 20 largest cities and the FHFA housing price index coming in below expectations. The Case-Shiller fell to 13.2 in January, from 13.4 in December. The FHFA housing price index dipped to 0.5% from 0.7%. New home sales in February also took a hit, tumbling to an annual rate of 440,000 units from 455,000 in January. Who wakes up with two feet of snow in the driveway and a wind-chill of -26°, and says, “Why don’t we look at houses today?”
Consumer confidence surprised, rising to 82.3 in March from the previous 78.3. Hopefully, that’s a sign that shoppers are getting ready to buy again instead of just looking.
The 10-year yield was unchanged at 2.74%, and stocks closed in positive territory.
Stocks climbed early Wednesday morning on the strength of a report on durable goods orders for February. Durables, big-ticket items, such as furniture, appliances and other major purchases meant to last three or more years, rose 2.2%, after shocking the markets the previous month with a -1.2% decline. Excluding transportation, they rose only 0.2% following the previous 0.9% increase, but that was enough to send stocks into negative territory, where they closed.
Tough talk to Russia from President Obama regarding the Ukraine unnerved investors, and selling began. Obama signed an executive order to sanction Russian companies in the financial services, energy, metals and mining, defense and engineering industries, according to CNN. Also dragging stocks down is that hope for stimulus measures for Europe and China is quickly fading.
The 10-year yield dipped three basis points to close at 2.70%. Stocks got pummeled, with the Dow dropping -78.98 points. The Nasdaq fell 60.69 points, while the S&P 500 was down -13.06 points.
Decent economic reports failed to perk up the markets Thursday morning. The news everyone was waiting for showed the final estimate on 4Q GDP rose to 2.6% — down from the second revision of 4.1%. Declines in government spending as well as a pullback in private inventory investments were largely responsible for the decline.
Initial jobless claims for the week ended March 22 dropped by a better-than-expected 10,000 to 311,000.
The final report, pending home sales in February, showed them sliding by -0.8% from -0.2%, which were both the previous result and forecast. Again, many blamed the weather.
When the closing bell rang, the 10-year yield dropped another three basis points to 2.67%. The Dow fell -4.76 points, while the S&P 500 was down -3.52 points. The Nasdaq struggled through another losing session, falling -22.5 points.
Additional concerns centered on the annual stress tests administered to the nation’s largest banks on behalf of the Fed. The tests insure that banks, as well as other businesses, would be able to remain solvent under severe pressure. The test results sent bank stocks down, but none more than Citigroup, which flat out failed the test. Its stock fell 5.0%.
Friday’s reports were positive, but not world-beating. Stocks rose when the data were released, then fell, then rose again but never reached their opening highs. Per the DOC, personal income was up 0.3% in February — the same as in January, but personal spending posted its biggest gain in three months. It rose 0.3% from the previous 0.2%. The PCE, a major inflation indicator, duplicated its recent increase of 0.1%.
The final University of Michigan consumer sentiment survey for March fell to 80 from 81.6 two weeks ago. That’s not a good sign, but not a terrible decline, either.
Initially, the Mortgage Bankers Association reported that mortgage applications fell 3.5% during the week ended March 21. However, the results are based on a revised report showing a 0.2% increase instead of the initial 1.2% decline. The refi index plummeted 8% from the previous week, including an 8.1% drop in conventional refinance applications and a 5% decline in government refinance applications. In contrast, the seasonally adjusted purchase Index increased 3% from one week earlier, driven mainly by a 4.0% increase in conventional purchase applications.
Economic reports this week are numerous, and fall somewhere between very important to “Who cares?” The first one up is the Chicago PMI index on manufacturing conditions in the upper Midwest. This area is a major producer of food and food products, as well as farm machinery, cars and trucks, and other expensive items. However, production is expected to edge down to 59.2 from 59.8.
On Wednesday analysts predict a big improvement in February factory orders. They should increase 0.5%, quite a move considering they registered -0.7% in January.
On Thursday a report on first-time jobless claims for the week ended March 29 is due, with analysts expecting 320,000. That’s 9,000 more than the previous week. Continuing claims, those collecting benefits for a second week or more, are released with first-time claims. They should rise by about 9,000. The trade balance for February is expected to move to -$39.4 billion from the previous $39.1 billion. The final report is a look at March ISM services, e.g., people who work in hospitality, health care, retail and other low-paying jobs. Analysts predict it should rise to 53.2 from 51.6.
The much-awaited non-farm payroll report comes out Friday, and if estimates become reality, Wall Street will resemble Times Square on New Year’s Eve. The Consensus Forecast says 192,000 new jobs will have been added in March, while Reuters predicts 195.000. Either one would likely send the 10-yield up by several basis points. Analysts expect the unemployment rate to edge down to 6.6%. If these numbers are close to reality, the 10-year yield, which moves inversely to price, should add a few basis points.

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

Waning Mortgage Refinancings Make New Deals Safer, Moody’s Says

Posted by Joel pate in Uncategorized. Tagged:

The trend of fewer homeowners refinancing their mortgages as interest rates climb is helping to curb sales of home-loan bonds without government backing. It’s also making new notes being issued safer, according to Moody’s Investors Service.
Mortgages used to buy homes historically default less than replacement loans, partly because of the greater vigor employed by lenders in underwriting the first category of debt, the New York-based ratings firm said today in a report. The dynamic is beneficial for investors as higher rates reduce how many consumers can benefit by refinancing, boosting the share of purchase loans in pools backing non-agency bonds, Moody’s said.
“It’s a very clear trend we’ve seen,” said Kruti Muni, an analyst at Moody’s who worked on the report, which addressed the quality of securities tied to “jumbo” mortgages, the only type now being packaged into non-agency bonds.
A slowing of the Federal Reserve’s debt buying and an improving economy have driven the average rate on typical 30-year mortgages to 4.5 percent from a record low 3.47 percent in December 2012, according to Mortgage Bankers Association data. A slump in new loan volumes caused by the drop in refinancing is curbing non-agency issuance, along with banks’ demand for loans for their balance sheets and bond investors’ desire for higher yields after record defaults.
Fewer refinance mortgages should be a “credit positive” for new jumbo-mortgage bonds, according to Moody’s. The average share of purchase loans in deals by Redwood Trust Inc. (RWT), the most active issuer since the market restarted in 2010, rose to 54 percent in the second half of 2013, from 26 percent in the previous six months, according to the report.
Credit Quality
While purchase mortgages are generally given to borrowers with higher credit scores, that doesn’t fully explain their better historical performance, Moody’s said. Lenders also “have typically subjected purchase obligors to more stringent credit reviews and property valuations since purchase borrowers have no history of residing in the home,” the firm said in its report.
One type of purchase mortgages guaranteed by Freddie Mac in 2005 carried a five-year default probability of 1.7 percent, compared with 2.7 percent for similar refinance loans not used to extract cash from home equity, according to Moody’s.
Tighter underwriting standards since the 2008 financial crisis and the introduction in January of “qualified mortgage” rules creating new legal risks for lenders may mean the difference isn’t as pronounced in the future, Muni said in a telephone interview.
Bond Issuance
While issuance of non-agency securities tied to new loans jumped to about $13.5 billion last year from $3.5 billion in 2012, the sales collapsed after September, according to data compiled by Bloomberg. Less than $1 billion of the deals were completed from October through December, and less than $650 million so far this year, the data show.
Jumbo mortgages are those larger than allowed in government-supported programs, currently as much as $729,750 for single-family properties in high-cost areas. For Fannie Mae and Freddie Mac loans with the lowest costs for most borrowers, limits range from $417,000 to $625,500.
Home-loan originations will fall to $1.12 trillion in 2014 and $1.23 trillion in 2015, from $1.76 trillion last year, the mortgage-banker association forecasts. Refinancing will account for 39 percent of new loans this year and 35 percent next year, down from 63 percent in 2013.

By: Jody Shenn, www.bloomberg.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

Is It Time to Make an Upgrade?

Posted by Joel pate in Uncategorized. Tagged:

Everybody likes upgrades, whether it’s an airline seat or a new cell phone call plan. When we get something better than we expected or are accustomed to, it is always a good thing.
Now that we are well into a new year, perhaps it’s time to “upgrade” certain components of your mortgage origination business. Here are a few areas you might consider:
Upgrade your real estate agent relationships. Are you working with too many low-producing or high-maintenance agents? Since we’ve now made the full transition to a predominantly purchase loan market, it is vital that you are able to generate a steady flow of consistent leads of potential home buyers. Perhaps it’s time to exit those unprofitable or constricting relationships and trade up to higher-quality or less-demanding agents. The sooner you do the more loans you will have to work on (and the less-stressed you will be).
Upgrade the caliber of buyers you target. No lender wishes to discourage or deny any buyer of their need to obtain a home loan, but every experienced originator has learned you cannot (and shouldn’t try to) help everyone. Focusing your time, energy and attention on low-quality borrowers, challenging loan programs or hard-luck scenarios is no way to succeed in this business — or to help more people buy a home, for that matter. Originators who don’t understand this or refuse to adopt this policy forever saddle themselves with arduous buyers and “science project” loans that rarely close.
Upgrade your product knowledge. We have shifted to a purchase mortgage market, and that means the loan programs you will be selling and promoting over the next year will change. Identify two or three new financing products that have strong potential in your area, buckle down and learn them inside and out. You’ll have more mortgage solutions to talk with your Realtors about, more options to offer your borrowers, and you’ll give yourself a competitive edge over other loan originators who only know one or two loan programs and keep selling the same old thing.
Upgrade your business card. Your business card is undeniably the single best marketing, advertising and personal promotion piece you own, so make it the best it can be. Is it time to add a photo (or time to upgrade that five-year old picture)? Is your card cluttered with too many words and contact numbers? Have you found a great way to utilize the space on back of your card? Business cards are cheap, there are thousands of sharp, ready-made design options and you can get them printed just about anywhere. There’s simply no excuse for having a bad one.
Upgrade your appearance. Coming to work every day in well-suited business attire does not make you a smarter or better loan originator, but it makes people think you are a smarter and better loan originator when you do it. Your appearance says a lot about how you respect your job, your clients and your career. If you’ve been lax about how you look lately, maybe now is the time to upgrade your exterior. You’ll be pleasantly surprised at the difference it makes with your clients, and even with you.
Upgrade your online presence. The Internet continues to expand, and more and more people are doing their research for lenders online. Do you have a state-of-the-art website set up? Is it updated with recent photos, testimonials and product information? If your company has a master website showcasing all of their loan officers, is your profile, photo, bio and contact information showing? What about LinkedIn? Are you one of the 250 million members of the largest business network on the planet? If so, are you reaching out to “link” with new contacts and potential referral partners each week? There’s no denying or disputing the power of the Web.
Upgrade your office. Just as your attire says a lot about who you are as a business professional, your office speaks volumes about how you operate that business. Is your office or cubicle neat and organized? Are loan files, papers and work supplies organized efficiently in your drawers and folders? Do you own, use and display the latest technology and communication tools of a 21st century lender? Most importantly, does your office look like a place where a borrower would come to gain expert insight and to make the largest financial transaction of his or her life?
Upgrade your selling skills. The last few years of refinance activity has had a negative impact on many loan originators; their selling skills have gone soft. If that’s somewhat true for you, it could be the right time to upgrade your telephone and face-to-face skills by picking up a great sales book or listening to some CDs or audio podcasts on sales, marketing and personal networking.
Upgrade your “out” time. The business has moved back to the streets. More than five million homes are expected to sell this year, and the majority of those buyers will need a mortgage to make that purchase. Where are those five million buyers? Well, they’re not standing in your doorway waiting to talk with you. They are out there, in real estate offices and builder model homes. They are in networking groups and community gatherings and sitting in homebuyer seminars. They are out there right now, and their mortgage loans will go to the originators who are out there meeting them and talking to them — right now!

By: Douglas Smith, www.nationalmortgagenews.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

Tips for Boomerang Homebuyers

Posted by Joel pate in Uncategorized. Tagged:

Folks in the housing biz love people who want to buy homes. And these days, many real estate and mortgage brokers feel especially fond of so-called rebound or boomerang buyers — people who lost a home to foreclosure, but are now ready to buy again.
The chief attraction is strong motivation, said Kent Temple, broker/owner of Keller Williams Realty: The Temple Team in Mooresville, N.C. “If you’ve been through a foreclosure, you’ve already been a homeowner,” Temple said. “You know what it’s about. You know the process. You’ve been through hell sometime in the last seven years, and if you really want to buy a house, you are so willing to do whatever it takes.”
With that in mind, here’s a look at what you need to share with rebound buyers before they buy a home after foreclosure.
Wait it Out: Waiting periods are a common penalty for rebound buyers. But it’s not always clear how long the wait will be because guidelines vary among lenders. FHA imposes a three-year wait to obtain a new loan, and most lenders follow that guideline, said Bert Carpenter, a loan officer at Nova Home Loans in Chandler, Ariz. Waiting periods can be shorter for portfolio loans that lenders keep on their own books or longer for conventional loans that lenders sell to Fannie Mae and Freddie Mac, Carpenter added.
The interest rate will be higher than market rates and might be adjustable or fixed only for an initial term of three, five or seven years.
And waiting periods don’t start until the foreclosure is completed, according to Jim Sahnger, a mortgage originator at FBC Mortgage in Jupiter, Fla. Just moving out of the house or mailing the keys to the lender doesn’t start the clock.
Fix Your Credit: Some rebound buyers’ only credit impairment was the foreclosure. These buyers can repair their credit faster than those whose credit history contains other issues, Carpenter said. Either way, buyers must “get their credit house in order,” paying off or settling old accounts and judgments, he said. “Your first objective, since you’re going to have to wait, is make sure the rest of your credit is clean. That way, when you move into the phase when you’re almost out of your penalty period, you’ll know it’s just a matter of waiting,” he said.
A foreclosure remains on a credit report for seven years, though the negative impact will fade as time passes, according to FICO, the credit-scoring company. An established history of paying other bills on time can help. FICO explains that a foreclosure is “a single negative item,” which does less damage in isolation than in conjunction with other late or missed payments.
High current debt relative to income also can be a problem because lenders won’t approve a loan if the borrower’s debt-to-income ratio exceeds their guidelines.
Ask a Lender to Consult CAIVRS: Rebound buyers whose foreclosed loans were backed by the FHA or VA should be aware of CAIVRS, a government-run database of government-guaranteed loan delinquencies. Borrowers whose unpaid government-insured debts are tracked in CAIVRS typically can’t obtain new government-backed debt.
“If a claim has been paid by the federal government on a previous mortgage, you’re ineligible until you repay the government the claim amount that was paid,” Carpenter said.
CAIVRS isn’t publicly accessible, so borrowers must consult an authorized lender to find out whether their foreclosed loan is listed.
Be Ready to Make a Down Payment: Rebound buyers who purchased their prior home with little or no cash are often surprised to learn that a down payment is required today, said Marian Norris, a real estate broker in Stockton, Calif. “When they purchased their last house, they didn’t have to come in with any money. The world has changed since then,” Norris said.
The FHA requires a down payment of at least 3.5 percent of the purchase price. The minimum down payment for a conforming loan without mortgage insurance is 20 percent.
Get Preapproved: A loan preapproval from a lender is a must for rebound buyers, Temple said. “I want to know they’ve been vetted properly before we spend our time with them and find out they can’t buy anything,” he said.
That attitude among real estate agents and home sellers is typical, so buyers should expect to speak with a lender before they’re taken out to see for-sale homes.
Have a Plan: Rebound buyers tend to assume they’re ready, even when they still have issues that need to be addressed, Temple said. That’s why it can be helpful to consult a real estate professional in advance. “The biggest thing is to start early,” he said. “Get in front of somebody and ask, ‘If I want to buy a house again, what do I need to do?’ It might take a year. It might take two years.”

By: Marcie Geffner, www.sacbee.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

Open Real Estate Agent Data Generates New Liability for ‘Pocket Listing’ Brokers and Agents

Posted by Joel pate in Uncategorized. Tagged:

A new twist in the expanding market of pocket listings and private listing associations may start to cause real estate brokers to reconsider their positions on the practices. Scrutiny over “whisper listings” has led to questions of potential financial liability for real estate agents, and their brokers, who regularly involve themselves in these transactions.
A recent panel at Inman News’ Real Estate Connect conference in New York discussing pocket listings showed little difference in opinion on the quality of service being delivered by practitioners who pocket-list homes. The forum participants included many executives from the largest MLSs in the country. The featured broker/agent speakers included Shaun Osher of CORE in New York City, and Danai Mattison of the Mattison Group in Washington, D.C.
Their views on pocket listings were refreshing and unequivocal. Osher was particularly frank. The main takeaway: There is no place for “premarketing” or “coming soon” in an MLS-accessible market. If a home is being marketed in any way, it’s for sale. Limiting its exposure puts an agent’s personal financial gain at odds with a client’s financial return.
Possibly more striking was the conversation with Neil Garfinkel, a partner with the law firm AGMB in New York. In his opinion, those who engage in pocket listings are opening themselves up to potential litigation. A former client who felt they were led into a practice that didn’t maximize their financial return, and didn’t fulfill the agent’s standards of duty, will at some point be the bellwether for pocket listing litigation in the industry. Real estate licensee duties can be fiduciary or statutory depending on the state, but almost always call for a high standard of care for a client’s well-being.
While the liability discussion on that day centered on a single former client suing their personal agent, there are a number of much larger issues that seem to collide at this one point. As real estate brokers and agents battle over opening large sets of agent production data to the public, the executives of most of the largest real estate companies seem to be signing on to the idea (Realogy’s and Re/Max’s CEOs concurred at Connect). It’s becoming clear that the dissemination of agent sales data is becoming a question of “how” as opposed to “whether.”
This new look into the practices of real estate agents and their brokerages will allow consumers to see everything their professional service providers do in a new light. Individual sales and practices will be boiled down into averages, probability and patterns.
For the agent or brokerage heavily involved in pocket listings, it may be the biggest liability they’ve ever encountered. The sales production they’ve been touting for years will now be scrutinized against the backdrop of nonexistent MLS-recorded sales. Off-MLS sales, known to be attributed to these agents, will be dredged up from public records and contrasted against similar homes that were exposed to the broader market. Class-action lawsuits and fair housing violations are just the start of the new potential threats that will need to be analyzed by a real estate broker entering this new world of “transparent” production data.
We’ve all heard the flimsy elevator speech as to why certain clients are better served with pocket listings. In reality, anonymity, exclusivity and other past concerns have all been overcome by the newest MLS rules and technologies. Even if those arguments held water for a unique few clients, pocket listings are clearly an unsavory practice when serving the vast majority of home sellers.
So what happens when it becomes statistically clear that an agent is advising the majority of his or her clients to limit the exposure of their listing? When a publicly visible pattern of repeatedly pocket listing clients’ homes is now available online, the spotlight on the agent, and the brokerage, will begin to get a bit hotter.
Consider a “boutique” brokerage whose agents, across the board, almost exclusively practice pocket listings. The owner or managing broker of this office will inherently be assumed to approve of, or even encourage, limiting the listings’ exposure. This demonstrably repetitive practice will be available for every disgruntled, poorly served or financially troubled ex-client of the firm. There is a very real opportunity for a group of former clients to bring litigation against a broker, without having to prove the details of an individual transaction. The brokerage — and its agents — will have digitally written their confession in the form of a long-term record of off-market production statistics.

By: Sam DeBord, www.inman.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

10 Overlooked Tax Breaks

Posted by Joel pate in Uncategorized. Tagged:

The goal of every taxpayer is to make sure the IRS gets as little as possible. So, you need to take every tax deduction, credit or other income adjustment you can. Here are 10 tax breaks — some for itemizers only, others that any filer can claim — that could save you some tax dollars.
1. Additional charitable gifts
Most count the monetary gifts they make to their favorite charities. But expenses incurred while doing charitable work often aren’t counted on tax returns.
You can’t deduct the value of your time spent volunteering, but if you buy supplies for a group, the cost of that material is deductible as a charitable donation. Similarly, if you wear a uniform in doing your good deeds the costs of that apparel and any cleaning bills can be counted as charitable donations. So can the use of your vehicle for charitable purposes, like delivering meals to the homebound in your community or taking the Boy Scouts or Girls Scouts on an outing. The IRS will let you deduct that travel at 14 cents per mile.
2. Moving expenses
Most taxpayers know they can write off many moving expenses when they relocate to take another job. But the IRS allows this write-off for your first job, too. A recent college graduate who gets a first job at a distance from where he or she has been living is eligible for this tax break. This tax break is found in the adjustments to income section at the bottom of Form 1040.
3. Job-hunting costs
While college students can’t deduct the costs of hunting for that new job across the country, already employed workers can. Costs associated with looking for a new job in your present occupation, including resume preparation and employment of outplacement agencies, are deductible as long as you itemize. These costs, along with other miscellaneous itemized expenses, however, must exceed 2 percent of your adjusted gross income to produce any tax savings.
4. Military reservists’ travel expenses
Members of the military reserve forces and National Guard who travel more than 100 miles and stay overnight for training exercises can deduct expenses like lodging and half the cost of meals. If you drive to training, be sure to track your miles. You can deduct them at 56.5 cents per mile, along with any parking or toll fees. You get this deduction whether or not you itemize; it’s one of the above-the-line deductions found directly on form 1040. But you will have to fill out Form 2106.
5. Child care credit, and more
Millions of parents claim the child and dependent care credit each year to help cover the costs of after-school day care while Mom and Dad work. But some overlook claiming the credit for child care costs during the summer. This tax break also applies to summer day camp costs. The camp must be a day-only getaway that supervises the child while the parents work.
Remember, too, the dual nature of the credit’s name: child and dependent. If you have an adult dependent who needs care so that you can work, those expenses can be claimed under this tax credit.
6. Mortgage refinance points
When you buy a house, you can deduct the points paid on the loan for that year of purchase. But if you refinance your home loan, you might be able to deduct those points, too, as long as you use refinanced mortgage proceeds to improve your principal residence.
7. Many medical costs
It is often hard to reach the adjusted gross income threshold required before you can claim any itemized medical expenses on Schedule A. It might be easier to clear that earnings hurdle if you look at miscellaneous medical costs. Some of these include travel expenses to and from medical treatments, insurance premiums you pay for from already-taxed income and even alcohol- or drug-abuse treatments. Beginning this tax year, a health care reform act provision requires you have medical expenses more than 10 percent of your adjusted gross income before you can deduct them.
And self-employed taxpayers, take note. If you are not covered by any other employer-paid plan, for example, one carried by a spouse, you can deduct 100 percent of health insurance premiums as an adjustment to income in the section at the bottom of Page 1 of Form 1040.
8. Retirement tax savings
The retirement savings contribution credit was created to give moderate- and low-income taxpayers an incentive to save. When you contribute to a retirement account, either an individual retirement account or a workplace plan, you can get a tax savings for up to 50 percent of the first $2,000 you put into such accounts. You get a tax break that directly reduces dollar for dollar any tax you owe.
9. Educational expenses
The Internal Revenue Code offers many tax-saving options for individuals who want to further their education. The tuition and fees deduction allows up to $4,000 off your taxable income and is available without having to itemize. The lifetime learning credit could provide some students (or their parents) up to a $2,000 credit.
Don’t forget the American opportunity tax credit, which offers a dollar-for-dollar tax break of up to $2,500. This was created as part of the 2009 stimulus package as a short-term replacement for the Hope tax credit, and was extended through tax year 2017 as part of the American Taxpayer Relief Act of 2012, also known as the “fiscal cliff” tax bill.
10. Energy-efficient home improvements
Tax breaks for some relatively easy energy-efficient home improvements expired at the end of 2013 and might not be renewed. That makes it all the more important to take advantage of the Nonbusiness Energy Property Credit, worth up to $500, when you file your 2013 tax return.
To claim this credit, found on part 2 of Form 5695, you must pay attention to specific spending limits, such as $150 for high-efficiency furnaces and boilers, $300 for air conditioners and heat pumps and $200 for replacement windows. These home upgrades must have been installed at your main residence by Dec. 31, 2013. Note also that the overall $500 tax credit cap applies to anyone who received any previous energy tax credit since Jan. 1, 2005.
If you qualify, it is a tax credit, giving you a dollar-for-dollar reduction of your tax bill. And when it comes to taxes, every dollar saved helps.

By: Kay Bell, www.bankrate.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 Chopping With a Dull Axe?

Posted by Joel pate in Uncategorized. Tagged:

Many experienced professional salespeople don’t see the need for continuous improvement. They often think, “I’ve been doing this for fifteen years, so I must be really good at this.” The number of years of experience, however, is not a measure of excellence — any honest golfer knows that.
Such thinking can keep you from achieving a higher level of success. It is like the lumber jack who works non-stop and never takes the time to sharpen his axe. Just because you’ve been doing something for years doesn’t mean you can’t or don’t need to improve. We all do.
People often get satisfied at just being good at what they do. A sales person might stop doing all the “little” things that made them great, such as using a pre-call checklist, asking for referrals and testimonials, updating their website, conducting timely follow-up, and sending thank-you notes. But these little things make the difference between good and great.
In fact, a huge chasm exists between a merely good performance and a really great one. Realize, however, that this doesn’t mean you necessarily have to work harder. Rather, you need the discipline to execute the little things in an extraordinary way — every single day.
Consider rock group U2 front man Bono’s example of taking something good and making it great. “An early version of our first single, Vertigo, was massaged, hammered, tweaked, lubed, sailed through two mixes, and got U2′s unanimous stamp of ‘very good.’ Very good is the enemy of great. You think great is right next door. It’s not. It’s in another country,” Bono told USA Today.
Instead of releasing the song at “very good,” the band returned to the studio and took it apart. They rearranged Vertigo with new melodies and new arrangement and new rhythms. They soon discovered untapped reserves of ideas and fortitude, and the song went on to become a number one hit, winning the Grammy for song of the year, off the album How to Dismantle an Atomic Bomb that won the Grammy, too.
Has your performance recently been “good” or “great”? Have you been on cruise control in your profession? When was the last time you went back into your “studio” and reevaluated what you do and how you are doing it, asking all the while: “What can I do better?”
When was the last time you asked a client what you could do to improve his or her experience with you? Years? Months? Maybe even never?
Some companies have an exhaustive process to make sure they deliver maximum value to their customers. If you want to continuously improve your sales skills, your clients and prospects will actually have the most valuable insight into how you can become better. So make it a priority to regularly ask them for their suggestions on how to improve and add more value to what you offer them. Sales managers, likewise, should ask their sale people, “You have worked with me now for three months/three years. What can I do to be a better sales manager? How can I support you more effectively?”
The same question is just as powerful with your family. When was the last time you asked your kids, “What can I do to be a better mommy or daddy?” How about asking your spouse? I guarantee they will have some feedback for you. It takes courage to ask and then really listen to the answers. Your tendency will be to defend yourself, of course. But instead, shut up, and say “thank you.”
What you often find is that there will be little things they want you to do more often that you did not know where so important to them. Recently, our middle son Davis came back with this answer: “Have more fun. I have been so focused on driving hard as the school year finishes that I need to lighten up!”
Although asking “What can I do better?” is an excellent way to continuously improve your performance, asking is really only the first step. The real key is to carefully listen when someone offers a suggestion. When a client starts talking, don’t try to defend yourself or justify your actions, just listen to what he or she has to say. Take your client’s/wife’s/husband’s/daughter’s/son’s suggestions seriously, and follow up with them later to ensure you are making progress.
So, dedicate yourself from this point on to sharpening your saw, looking for every way possible to take your performance from merely “good” to truly “great.”

By Chip Eichelberger, www.soldps.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

Consumer Bureau Introduces New Mortgage Tool

Posted by Joel pate in Uncategorized. Tagged:

Successful problem solving often depends on the tools you’re given to work with. The better your information, the more equipped you are to identify and solve an issue.
That’s the idea behind the Consumer Financial Protection Bureau’s new mortgage data tool and the new data-reporting requirements it plans to propose this year.
The CFPB recently announced the release of its new online tool for exploring Home Mortgage Disclosure Act data, which allows people to sift through the data available on home loans made in their communities and compare it to other locations.
The tool is meant to help people gain a better understanding of consumer access to credit in their areas, CFPB officials said.
The Dodd-Frank Act tasked the CFPB with expanding the data collected through HMDA, which the bureau is tackling this year. The bureau will seek public feedback on what should be included in the data and plans to determine the new data points mortgage lenders must report, though the requirements won’t need to be met in 2014.
“We are considering asking financial institutions to include more underwriting and pricing information, such as an applicant’s debt-to-income ratio, the interest rate, the total origination charges, and the total discount points of the loan,” said CFPB Director Richard Cordray. “This will help regulators spot troublesome trends in mortgage markets around the country.”
The CFPB is also interested in requiring lenders to report the borrower’s age and credit score, the term of the loan and whether the loan meets the qualified mortgage standard. The bureau is putting together a Small Business Review Panel, in which it will engage and seek feedback from community banks, credit unions and other entities that may be affected by the new rules.
In explaining the coming changes, Cordray referenced some signs of the recent housing crisis that may have been easier to address if more comprehensive data had been available. He mentioned the surge in home equity lending leading up to the bust, and the increased use of teaser interest rates — the initial rate on an adjustable-rate mortgage that would reset to a much higher rate after the initial period.
“Teaser interest rates proliferated before the crisis, but the current HMDA database contains only limited information about the rates charged by lenders,” Cordray said. “These and other gaps in what we know hinder everyone’s ability to determine whether borrowers have access to affordable loans or to identify potential targeting of borrowers for riskier or higher-priced loans.”
As the process of determining new data-reporting requirements begins, the public already has access to the data comparison tool through the CFPB’s website, where anyone can see some mortgage trends within certain loan products, metropolitan areas and racial groups. The tool would eventually be enhanced with whatever additional data the CFPB requires from lenders.
To see the site, click here: http://www.consumerfinance.gov/blog/new-tools-to-explore-mortgage-data/

By: Christine DiGangi, www.credit.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