Archive for May, 2014

Top 7 Quotes of Highly Successful Salespeople

Posted by Joel pate in Uncategorized. Tagged:

In today’s competitive sales environment, you need an edge. This edge can start by simply committing to memory the top seven quotes of highly successful salepeople. We’re told that it takes 21 days to form a habit, so by memorizing these seven quotes and repeating them to yourself for 21 days, you will have developed an efficient and effective selling habit.
“WHAT HAVE I DONE TODAY TO GENERATE BUSINESS FOR TOMORROW?”
Before highly successful salepeople leave their office for the day, they will repeat this question to themselves. Whatever type of daily organizer or appointment schedule you use, you need to look at it prior to leaving your office and make sure that you have activities scheduled on the books for tomorrow. For example, you will have scheduled confirmed appointments with borrowers on the books, or you will have loan apps to take, or you will have prepared a list of clients to call on your call back list, etc. This will double or even triple your personal production.
“MY INCOME IS IN DIRECT PROPORTION TO THE SERVICES I RENDER TO OTHERS.”
Highly successful salespeople deliver exceptional customer service before, during, and after the sale. By giving your clients exceptional customer service, they will be more willing to refer you and your company to their friends, family, and co-workers, thus dramatically increasing your referral business. We all know that referrals are the #1 internal marketing vehicle. So, by memorizing this quote, you will have more satisfied customers and also dramatically increase your income due to the increased referral business.
“THE MOST POWERFUL INGREDIENT IN BUSINESS IS POSITIVE MOMENTUM; GET IT AND KEEP IT.”
The “Big Mo” is something that all successful salespeople find, build and maintain at all times. In order to get and keep positive momentum, there are some areas that you need to avoid. Some of these areas are negative people, bad business decisions, costly advertising mistakes, poor time accountability, and blaming others for your failures. Positive momentum is developed, first and foremost, by your attitude. Conceive your business strategies, believe in your business strategies, and then go out and achieve your business goals.
“IN ORDER TO WIN SOMEONE TO YOUR CAUSE, YOU MUST FIRST MAKE A FRIEND.”
This is just plain old “sales 101.” Before anyone buys anything from you, they must first like you and trust you. Before they like you or trust you, you must be a friend to them in their eyes. Always remember that the client is buying you, not just your product or service. So, once they are your friend, they are much more likely buy anything from you. This quote will greatly help you in your personal life, as well.
“A WISE PERSON AND A FOOL BOTH FACE THE SAME CHALLENGES; THEY BOTH MAKE THE SAME MISTAKES; BUT THE WISE PERSON LEARNS FROM HIS OR HER MISTAKES.”
We will all make mistakes in business, and that’s alright. Just don’t continue to make the same mistake over and over again. For example, a fool is a person who arrives to work late every day, or constantly misses their weekly/monthly sales quota, or is constantly running the same advertisement every month — but the telephone never rings from that particular advertisement. In order to become a wise person, it takes constant focus on all of your decisions regarding any business or sales issue.
“YOU CAN’T DO THE SAME THING EVERYDAY AND EXPECT A DIFFERENT RESULT.”
They call that “insanity.” As professionals, we are either moving forwards or backwards in life, we are never standing still. Highly successful salespeople constantly strive to move their careers forward, thus producing more appointments, sales, income, and professional career advancements.
“NO SALES, NO MONEY; KNOW SALES, KNOW MONEY.”
Sales is a learned response. The more knowledge and information you can obtain pertaining to sales, the higher your income will be! Individuals who say they are a born salesperson are talking nonsense. To become highly successful in sales, it takes a tremendous amount of time to read as many sales books as you possibly can, or attending as many sales seminars that you can, or listening to tapes or CDs in your car on the way to work so you can constantly improve your sales skills. I can assure you that your top competitors are constantly building their library of sales material. Are you? Once you “know” sales, you will “know” money because your knowlegde is greater, your attitude is stronger, and your self-confidence is bullet-proof!

By: Dan Lightfritz, www.top7business.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

Do You Use the “Tie-Breaker” Advantage?

Posted by Joel pate in Uncategorized. Tagged:

Digital? Paperless? Virtual?
If you find the latest tools and resources overwhelming, confusing and just plain uncomfortable, you might find the next few tips an easy solution to bring your presentations, communications and marketing systems in line with today’s demands using technology.
When you incorporate cutting edge innovations into your buyer and seller service model, you are confidently deploying a secret weapon to beat out your competition. According to a recent article in the March issue of the Harvard Business Review, this elevation of value offers you the “tie breaker” advantage. When customers or clients are faced with making a decision to hire you or some other agent these enhanced service options clearly emerge as your “unfair” competitive advantage.
To keep pace with what today’s consumers are expecting, just incorporate one simple step at a time to differentiate your service model, save precious time, alleviate stress and “WOW” your customers and clients. All you need to do is to add one of these new steps every week or two, and you’ll be up to speed in no time! Let’s start with a few basics:
With any project, having the right tools makes the process easier, and real estate sales is no exception. Granted, smart phones are good; but when you need to really captivate a client or customer, having a larger screen like an iPad or other tablet makes it a more professional and engaging experience. Garry Wise, of Paperless Agent, recommends that after you demonstrate the CMA or review videos or virtual tours on the device, turning over the tablet to the customer to “move” the program along builds trust and confidence — and it keeps them fully engaged.
It’s reported that there are more than 900,000 apps out there for us to use, but the top 10 that help you save time and organize your business are the special ones that you need to identify and master. Garry states that by using the most popular of the top ten, you are better positioned to organize and streamline your services and your efficiency. Apps to try out include Evernote, Keynote, Skype, DropBox, Google Drive and DocuSign, just to name a few. Always use the ones you like the best, because chances are, they will be the ones you actually will use. Harnessing the power of the “Net in your hand” is a game changer, and it positions you as the true professional resource for your prospects, customers and clients.
Switch up your listing and buyer presentation by creating a digital version on your iPad. This is a simple process done using Keynote and/or PowerPoint. You can include screen captures of sites that support your marketing, along with embedding video tours and video clips to build engagement with your prospect. For a free template, visit BreakthroughBroker.com: http://bit.ly/1tH0ee4
Invest in office equipment that multi-tasks for you. A simple home-sized printer can also be a scanner, copier and wireless photo printer. When looking to buy any equipment, check out features like wireless access and the cost of the toner cartridges.
Think “engagement” instead of just “presentation.” Today’s buyers, especially the GenX/Y segment, are all about being involved with the experience. Think through the many options that offer that engagement or “stickiness” to keep the attention of a prospective buyer.
Virtual tours are always a good choice, but a virtual tour that offers some kind of “gaming” option is sure to keep the attention and interest of the prospect. Look for tour platforms that offer a “style designer” allowing the user to instantly change the colors in the property with the click of a mouse to customize the property to their own tastes and preferences. A simple click can change the colors of wood flooring, walls, moldings, cabinetry and more. Some platforms support vacant properties and new construction with a virtual “staging” option, thus allowing the viewer the opportunity to imagine and create the space to suit them.
The demise of paper and the meteoric growth of digital solutions is happening as you read this sentence! There is no doubt that, in order to meet the growing demands of our customers and clients, we must be ever-ready in all phases of our services.
Adopt a new protocol to help you out-serve the competition and guarantee a great real estate experience that keeps clients for life and endless referrals coming. Master the digital, and you are guaranteed to go from paper to profits!

By: Tanya Fears, 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

Real Estate Disruption May not be What You Think it is

Posted by Joel pate in Uncategorized. Tagged:

I came across the June 6, 1993 edition of the business section of the Los Angeles Times, where I wrote weekly about economic policy. On the cover of that section was this headline: “Wayne’s World: Blockbuster’s Huizenga Dominates Video Rentals, but Technology Threatens to Erase His Lead.”
This was four years before Netflix was founded.
At its peak, Blockbuster was sold in 1994 to Viacom for a staggering $8.4 billion. But just 16 years later, the video rental company filed for bankruptcy. Another classic story of disruption caused by technology innovation.
Lately, I cannot get my mind off the obvious disruption unfolding in real estate.
Already, printing companies have been disrupted by technology; newspapers have lost their hold on real estate advertising; and now MLS organizations and brokers face a looming threat to their traditional livelihood as search portals now dominate the consumer lead industry and soon, I predict, the data business and the agent’s CRM experience.
I have never believed that real estate disruption comes from consumers selling their own houses. Individual real estate agents are here to stay. They provide an invaluable service that most of us need and want.
Instead, it is the enterprises that have traditionally recruited, partnered and supported the independent agents that are challenged by technology’s disruptive forces — brokers mostly, but also MLS organizations and even franchises. Important lessons can be gleaned from industries outside real estate that are being disrupted.
Look what’s going on in personal transportation, for example. Uber is an app-powered on-demand car service provider. It has created a highly successful marketplace for suppliers (drivers) and users (passengers who need cars instantly to get around). Uber provides an addictive experience that includes driver ratings and GPS tracking and that is supported by a friction-free digital transaction when you exit the cab.
Uber is disrupting an industry that often disappoints the consumer. Ready to leave a party, a friend of mine recently called her longtime car service. The back-and-forth process of communicating with the dispatcher and figuring out the address and the timing was painful to watch. Worse, her car did not come for 30 minutes. The arcane role of the dispatcher — an old-school middleman — is what mucked up the process.
Then consider the taxicab companies who deploy a business model that does a lousy job of screening drivers with no rating or ranking service for the passenger. Plus, there is not an easy way to order a cab, and the payment pain at the end is always yucky. All of this compromises the customer experience, creating a tension between the company and their suppliers and between cab drivers and their passengers.
The parallels to real estate are uncanny.
Similar tension has been rampant in real estate for many years. The traditional broker business model centers around recruiting more and more, often not very carefully screened, agents, which generally dilutes the quality of real estate services. This is aggravated by the opportunity for the broker to get better splits from poor-performing agents who create a reputation problem for the industry.
At the heart of the real estate disruption threat is the value proposition. Already, top-producing agents get a better economic cut because they are providing the most value.
Where does disruption come in real estate? For now, we do not have an Uber, but one is either already in the making or coming soon.
Fast-growing and well-capitalized platforms like Zillow, Trulia and realtor.com are already delivering better and better consumer experiences that far outpace what most brokers are capable of.
Plus, they are building tools and relationships directly with individual agents at a furious pace. Visit the sophisticated Zillow call center in Irvine for proof.
ZT&R are already incorporating agent CRMs into their platforms. Just like Uber, they become the go-to platforms for growing an agent’s real estate business. Tools like DocuSign and dotloop are making one-on-one contract signing easy and simple for the agent, and it is only a matter of time before Zillow, Trulia and realtor.com add these services and integrate them into their lead machines.
When confronted with Uber’s success, cab companies were late to the game with their own poorly created apps, and they have attempted unsuccessfully to use their regulatory specialness to fend off services like Uber.
The real test will be what new agents do on these new portal platforms. Thousands of new drivers have built thriving new businesses around Uber — all-new car services with Uber as their platform and engine.
Many new upstart agents and small real estate companies are hitching up to one or all of the portals as their business launch pad and primary partner. When the portals figure out how to appeal to home sellers, the link with the portals will be inseverable.
Uber provides a level of protection and service for the drivers. It is essentially a new car service broker. It is out-innovating existing brokers through a better experience that empowers the consumer and driver, and Uber gets out of the way. Also, many traditional car service companies are reorienting their business around Uber to survive.
Here, then, are the questions for real estate brokers:
Do they let Zillow/Trulia/realtor.com become that new layer — de-facto broker?
Do they redefine themselves so that ZT&R can’t compete on whatever that differentiator is?
Do they completely reorient their business and value proposition around the reality of the portals? (Note: ZT&R promise not to disrupt the brokers, but the ultimate outcome will be driven by the actions of those who create the most value — the agents).
Smart brokers, I believe, should spend more time figuring out choice No. 3. Real estate’s Uber may be out of the garage, already.

By: Brad Inman, 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

5 Life Lessons that Will Help You Make Fewer Mistakes

Posted by Joel pate in Uncategorized. Tagged:

I don’t necessarily consider making mistakes a bad thing, because I’ve learned so much more from them than my successes. If you own up to the mistakes you make and do your best to learn from them, they can be helpful, actually. I like to think of them as necessary evils.
That having been said, who doesn’t want to make fewer of them? So, consider employing these five tips to make fewer mistakes:
1. Follow your gut. Over the years, I’ve learned to trust my instincts, because they’re almost always right. If something doesn’t feel or look right, there’s probably a reason. Do due diligence and look into whatever is concerning you. You know more than you think you do. If it walks like a duck and looks like a duck — it’s probably a duck.
2. Let time be on your side. Hasty decision-making has been the cause of most of my mistakes. This is especially true when it comes to negotiations. If the party you are negotiating with wants you to make a quick decision — for whatever reason — let that serve as a warning. Making good decisions takes time. There will always be seemingly “good” reasons for urgency. I don’t buy it. Good decision-making requires perspective, and perspective comes with time. Most decisions can wait.
3. Don’t waste your time on the wrong people. Trying to convince businesses to do something they aren’t currently doing has been a source of angst my entire career. I’ve been selling my inventions for a long time. Over the years, I’ve learned that if I’m selling a variation of an apple, I had better find someone who is buying apples. I’ve spent too much time showing my ideas to people in different industries. The truth is that most people aren’t willing to take a chance on something outside their comfort zone. It’s too hard of a sell — even if you have a great idea or a great service to offer.
4. Realize that some things aren’t meant to be, no matter how much you want them. I’m less of a fighter than I used to be, and that’s a good thing. In the past, when something didn’t go my way, I would focus on working harder. I thought that sheer willpower alone was enough. I know now that it’s not. I’m more accepting these days. Nine out of 10 times, I’m pleased when I let things go. When I look back, I realize things worked out for the best — perhaps better! If you push too hard, all the time, you’ll end up regretting it. Of course, there’s a fine line between pushing too hard and giving up too easily. It takes time to navigate.
5. Pick up the phone. Miscommunication happens all too easily over email! If you’re ever in doubt, therefore, pick up the phone. Email is, of course, a very efficient and convenient form of communication. But because it’s so impersonal, your words and intent may be misinterpreted. First, always strive to be as clear as possible, even when you’re in a hurry, and remember to read what you’ve written before you send it. If you sense that a potential conflict may be brewing, pick up the phone and talk it out. It’s worth the minor inconvenience. Many problems can be avoided this way. Relationships are built through dynamic conversations. So make the effort to pick up the phone, and even better, meet the people you are corresponding with in person.
Mistakes are stepping stones to success. People who are willing to take risks inevitably make mistakes. That’s OK. I know I couldn’t have been successful without making mistakes. So stop beating yourself up. And in that same vein, try not to be so hard on others.
A mistake is really only a mistake if you continue to make it. You’re missing out on an opportunity to be and do better if you don’t analyze yours.

By: Stephen Key, www.entrepreneur.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

The Importance of Asking Permission in Sales Calls

Posted by Joel pate in Uncategorized. Tagged:

It’s important for us as sales professionals to steer the conversation in such a way that we obtain the information we need to determine if the prospect is a fit for our offering — and if so, how best to position it to them. So, here is one area in which a small and easily implemented adjustment can make a measurable difference in results: asking permission.
Why bother asking permission?
On the surface, asking our prospects for permission seems like a weak play. We’re temporarily forfeiting control — handing the reigns of the conversation briefly to the prospect and giving them an out if they’re really looking for one. So why do we do it? Before looking at the benefits, let’s take a look at the potential drawbacks to understand why they aren’t all that disastrous after all.
You’re giving control of the call to the prospect.
Are we? Asking permission most often takes the form of a close-ended (yes or no) question to which we are fairly certain the answer will be yes. We have given the prospect control of the call in the way a fast food employee gives a patron control of the menu by asking if they’d “like fries with that?”
You’re giving the prospect an easy out!
Absolutely. This whole concept of “giving prospects a way out” is dated, and worth getting away from entirely. Your call should strategically incorporate ways for the prospect to get off the hook if they’re not interested for two reasons: 1) it is a litmus test against the prospect’s interest — if they are looking for ways out, you haven’t done your job in piquing their interest; 2) the corollary is that, if we are giving the prospect outs and they are not taking them, we know that they are interested — and we are subtly reinforcing that interest in our prospect’s minds by forcing them to repeatedly demonstrate it!
Having addressed the apparent disadvantages, let’s take a look at the benefits:
We reinforce our image as a polite professional.
Asking permission is the polite thing to do; and with the vast majority of prospects, being polite will go a long way in establishing trust and respect.
We give the prospect the ability to provide input while restricting their ability to misdirect the conversation.
No one wants to be on the receiving end of a one-sided conversation. Even if the prospect has shown that they’re okay with us leading the call, we still want them to feel included in that conversation. Open-ended questions have their role as well, but a simple request for permission can go a long way in making the prospect feel involved while keeping our grip on the wheel.
We are getting the prospects to further engage in the conversation and in our service offering by escalating the consent we seek.
This is the most important benefit. Closing a deal is simply the last step in a chain of escalating consent. Ultimately, we need the prospect to say “yes” when we ask for the business — it therefore works to our benefit to “get them in the habit” of responding in the affirmative before we go for that close. Asking snaps the prospect’s attention back where you want it, and makes them feel more invested in the call. Subtly — subconsciously, even — they think to themselves: “Well, if I weren’t interested I could have just said ‘no,’ so I should pay attention.”
Asking for the business should ideally be framed in a context of prior consent. We start by asking their permission to pitch them — to give them a presentation, to show them our website, do a live demo, send them a market analysis, call them back at a specific date — and ultimately we ask for their permission to get working for them.
The close
Opt for a multiple choice close (a form of closed-ended question in which we present the prospect with a series of options to choose from — none of which are “no thanks”, or “give me some time”). It’s a powerful close by itself, but adding a request for permission is the perfect complement. One of the problems with closed-ended closing tools is that we can make the prospect feel boxed in — they get cagey, and even though everything lines up, and they want to buy, they put up last-minute walls for that reason. In this case, we’ve side-stepped that concern by giving them an out. We’ve said, “Hey, Prospect, I’d like to multiple choice close you. Is that okay?” And they have acquiesced. That’s power!
We’re also slicing up the close into more digestible chunks that will be easier for the client to swallow. “Yes, it sounds good.” “Yes, I want to work with you.” “Yes, I’d like to hear your options and choose one.” By slowly escalating the consent we ask for, we warm the prospects up more and decrease the likelihood of scaring them off by asking for the business.
These are just a few examples, but there are many more ways in which asking permission can be worked into your sales calls. As with any tool, it should be sprinkled throughout the presentation so as not to sound forced or scripted, but it’s an effective litmus test of the prospect’s interest, and it helps bring us closer to the close with minimal risk of rejection.

By: Erik McNeill-Buettner, www.ezinearticles.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

Even as Distressed Sales Fall; All-Cash Buying Increases

Posted by Joel pate in Uncategorized. Tagged:

Even though sales to investors and sales of distressed homes have declined, the National Association of Realtors® (NAR) reports that all-cash sales continue to climb, a phenomenon that could have implications for mortgage professionals.
According to Lawrence Yun, NAR’s chief economist, these findings are counterintuitive and may indicate other important changes are underway in the market.
NAR’s Realtors® Confidence Index survey conducted each month among about 3,000 of its members indicates all-cash home purchases rose from 29 percent in 2012 to 31 percent last year and accounted for 33 percent in the first quarter of 2014. That same survey showed that investors, who are typically the source of many of the all-cash transactions, edged down from 20 percent of buyers in 2012 to 19 percent in both 2013 and the first quarter of this year.
A second NAR study conducted among consumers, the 2014 Investment and Vacation Home Buyers Survey, shows investors at a somewhat higher market share, but declining more sharply from 24 percent in 2012 to 20 percent in 2013.
The Realtor survey also showed distressed home sales declining from 26 percent of the national market in 2012 to 17 percent in 2013 and 15 percent in the first quarter of 2014. NAR projects that those sales will be in single digits by the fourth quarter of this year.
The Realtor group said the survey provided sufficient data to break information out on a state level for 29 states and to break out all census regions with information for every state.
In Florida more than half of all homes were purchased with cash with very little change in the level of those sales from 2012 to the present. Yet distressed home sales declined from nearly four in 10 purchases in 2012 to three in 10 during 2013, and investor transactions edged down.
All-cash sales exceeded 40 percent in several other states including Nevada, Arizona and West Virginia. Among the 29 states for which complete data was available the lowest levels of cash sales in the first quarter were reported in Maryland (17 percent) Colorado (19 percent) and Oregon (21 percent). Those states had posted all cash shares that were 4, 2, and 6 percentage points higher respectively in 2013.
“These findings beg the question as to why we’re seeing higher shares of cash purchases,” Yun said. “The restrictive mortgage lending standards are a factor, but the higher levels of cash sales may also come from the aging of the baby boomers.”

By: Jann Swanson, www.mortgagenewsdaily.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 May 19th

Posted by Joel pate in Uncategorized. Tagged:

Once again we are in “feast or famine” mode. Last week was “feast” week, although no reports were released on Monday. This is “famine” week, with a mere four releases on tap.
The lack of economic news didn’t hold back stocks last Monday, as each of the indices did pretty well. The Nasdaq once again led the way adding 79.99 points. It was followed by the S&P 500, which rose 18.17 points. The Dow added the most points, 112.13, but percentage-wise it made the smallest gain (0.68%). The 10-year yield went the other way, rising two basis points to close at 2.66%.
Tuesday was a shocker! Retail sales had been expected to be soft, but they gained a mere 0.1%. No one saw that coming. Excluding auto sales, the percentage dropped to 0.0. Export prices in April, excluding agriculture, fell 1.0%, while import prices, excluding oil, were down 0.4%.
The 10-year note, whose yield moves in the opposite direction of price, closed up 3 basis points to end at 2.61%. The Nasdaq was the winner in the stock indices race, adding 80 points. The S&P 500 rose 18.17 points, and the Dow closed at 112.13 points.
The other releases, which were of little importance to traders, included business inventories, which rose 0.4% in March. April import and export prices, which are usually ignored as they don’t make waves, showed the export price index (ex-agriculture) fell 0.1%, while imports (ex-oil) rose 0.4%. The best news of the day was that the 10-year note closed down 4 basis points at 2.62%.
Wednesday the producer price index and the PPI core were the lone reports, but they uncharacteristically shook things up, big time. These indices look for inflation at the wholesale level, and did they ever find it! The PPI rose 6% versus the 2% that was expected, and the PPI core, which eliminates food and energy prices, jumped to 5%. Those wanting a little inflation got way more than desired. Stocks sold quickly as inflation fears rose, sending the indices down a slippery slope.
That, however, was good news for bonds. Buying of Treasuries was aggressive, and the yield, which moves in the opposite direction of price, plummeted. The 10-year note closed at 2.41%, its lowest level since June 2008. The Dow closed down 101.47 points. The Nasdaq fell 29.54 points, and the S&P 500 lost 8.92 points. There were a lot of happy campers on Wall Street Wednesday afternoon.
Eight reports were released Thursday morning — some were great, some missed by a mile. The first report was initial unemployment claims for the week ended May 10. They fell by about 28,000; and continuing claims, workers applying for a second or more weeks of benefits, also fell by close to 15,000.
This was followed by the consumer price index, and it didn’t raise any eyebrows as it closely matched estimates. The CPI rose 0.3%, while the CPI core, which eliminates prices on food and energy, was up 0.02%.
Industrial production in April was a tad more upsetting, as it fell 0.6% when a 0.2% decline was expected. Capacity utilization, the percentage of a manufacturing facility running at 100% capacity, came in at 78.6% — down 0.4% from the previous month,
The Philly Fed Index, which monitors manufacturing conditions in several areas or the nation, posted a reading of 15.4 in May, up from April’s 16.6. It was well above estimates that ranged from 9 to 10. The final report was the NAHB Housing Market Index for May, a confidence report from the nation’s homebuilders, which came in at 45, below estimates of 48 and lower than the final reading in April.
When the markets closed, stocks had crawled out of negative territory. The Dow was up 44.50 points. The Nasdaq rose 21.30 points, and the S&P 500 added 7.01 points.
The 10-year note had quite a week for itself, closing at 2.52% — up 2 basis points from Thursday but down 10 basis points from the previous Friday.
The Mortgage Bankers Association reported mortgage applications increased 5.3% from the previous week. The refinance share of that activity decreased to 49% of the total applications, down from 50% the previous week. The average rate for conforming 30-year fixed mortgages decreased to 4.29%, the lowest since June 2013, with points remaining unchanged at 0.14 (including origination fee).
This week bears no resemblance to last week, as there are only a handful of reports due. Although not technically an economic report, the minutes of FOMC meetings have been known to impact trading. Those from April 30 will be released Wednesday afternoon. The details of the meeting have been made public, but investors still want to look for tidbits of information that may not have been made public
Thursday is loaded with reports, beginning with first-time jobless claims for the week ended May 17, but no estimates are available. Fortunately, existing home sales in April come with a forecast for an annual rate of 4.7 million units sold. That would be a healthy increase from 4.59 million units sold in March — a weather horror story. New home sales in April are expected to increase, as well. Analysts believe new home sales will soar from an annual rate of 384,000 to 430,000 units. Leading economic indicators for April will also be released, but that report is close to insignificant.
So, not much to move the 10-year rates this week.

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