Archive for August, 2014

Has HAMP been a Failure?

Posted by Joel pate in Uncategorized. Tagged:

The Home Affordable Modification Program (HAMP) seeks to modify the terms of a distressed homeowner’s mortgage in order to make their monthly payments more affordable. It does this by lowering mortgage rates, lengthening terms and principal forbearance.
Originally advertised as a vehicle to help up to four million homeowners permanently modify their mortgages, HAMP has permanently modified only 1.3 million mortgages to date. Meanwhile, some 5.6 million non-HAMP loan modifications have been completed.
But does that mean HAMP is a failure? That’s one critical question. And the other: What can be done to improve this government-sponsored program in order to increase its rate of success?
To find out, we asked Kristoph Kleiner, assistant professor of finance at the Kelley School of Business at Indiana University, to explain his thoughts on HAMP, its implementation, its struggles and how the program can be improved.
Q: Do you think the Home Affordable Modification Program has been a failure? What can be done differently to help distressed homeowners?
A: Before getting to the effects, I first want to explain why the Home Affordable Modification Program was implemented. Part of the Financial Stability Act of 2009, HAMP was intended to offer incentives for lenders and servicers who lower the interest rate and/or extend the term length on an existing mortgage.
But why do lenders and servicers need incentives in the first place?
Lender incentives
Let’s start with lenders. When deciding on whether or not to allow a loan modification, a mortgage lender naturally considers the costs and benefits. The benefits are that the homeowner may now be able to pay the mortgage and not default in the future. The costs are that the borrower either still defaults after the modification or could have self-cured without a loan modification.
The problem is that the mortgage borrower knows his or her financial situation much better than the mortgage lender, and the lender may not be willing to deal with this risk.
Servicer incentives
Next, we move on to the servicers. A servicer may be distinct from the lender or might be the same institution. The servicer receives the monthly mortgage payments from the borrower and conducts mortgage workouts, modifications and the foreclosure process. The concern here is that, if a servicer is distinct from the lender, the servicer does not internalize the costs of defaults and foreclosure. However, they do internalize the time costs of loan modifications.
HAMP results
With all this in mind, let’s look at the results.
Between 2009 and April 2014, the government states that HAMP has helped 1.3 million homeowners modify their mortgage, reducing mortgage payments by a median of approximately $541 every month. While this is notable, we still face obstacles.
Obstacles remain
First, these numbers are still short of the self-set goal of assist up to four million homeowners. One potential explanation for the shortfall is the countless stories of borrowers who were still denied eligibility by servicers when they actually were qualified. Secondly, about half of these modifications default after sixth months, only delaying the eventual – perhaps inevitable — outcome.
Solving the problem
What we need are programs that can overcome the two obstacles mentioned: giving the right incentives to servicers and minimizing the risk faced by the lender. By focusing on the former, we can guarantee that qualified homeowners receive the modification; and by succeeding in the latter, we can truly clarify what “qualified” actually entails.

By: Tim Manni, www.hsh.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 August 18th

Posted by Joel pate in Uncategorized. Tagged:

The economic calendar looked pretty barren on Monday and Tuesday last week. No reports. No economic news of any relevance. No nothing! But never fear, there’s usually something on tap to keep Wall Street buzzng. On Monday the markets were in positive territory, with the Nasdaq leading the way. The 10-year Treasury posted a midday yield of 2.42%, one point higher than the previous Friday and that’s where it closed. By the end of the day on Monday the Dow edged up 16.05 points, with the S&P 500 adding 5.33 points. Once again the Nasdaq headed the pack with a 30.43-point gain.
Although Tuesday offered some positive earnings reports, concerns about overseas activities poisoned the well. The situation in Iraq gave Wall Street some concerns, and the Dow fell 9.44 points. The Nasdaq slid 12.08 points, and the S&P 500 dropped 3.17 points. The 10-year Treasury edged up two basis points to close at 2.44%.
We certainly got a surprise on Wednesday. The numbers for retail sales in July came in even worse than expected — if that’s possible, because the forecasts were extremely weak to begin with. July sales were almost non-existent, according to the release, coming in at 0.0%. Sales, excluding autos, posted a 1% increase.
In a separate report, business inventories in June rose 0.4% — a tad lower than the previous 0.5% reading.
The markets didn’t seem to care about the economic reports, and the stock indices were up in high double digits by 1:00 pm. And even though hostilities are heating up in Iraq, the markets were not unduly disturbed by the news.
When the markets closed, the Dow had reclaimed the losses suffered in the market collapse of two weeks ago. It closed up 91.26 points, or +0.55%. The Nasdaq met the challenge, adding 44.87 points, or +1.02%. The S&P 500 rose by 12.97 points, for a 0.67% gain, while the 10-year Treasury yield closed at 2.41%.
Thursday was all about jobs, as it usually is, and the news wasn’t good. First-time jobless claims for the week ended August 9 jumped to 311K from 290K the previous week. Continuing claims, people filing for a second or more weeks of unemployment benefits, also increased to 2544K from 2519K.
On Thursday, the report on export prices (excluding agriculture) rose 0.3% in July, while import prices (excluding oil) were unchanged.
When the closing bell rang on Thursday, the three major indices were in positive territory. The Dow rose 61.78 points, the Nasdaq inched up 18.88 points and the S&P 500 added 8.46 points. The 10-year Treasury dropped one basis point to close at 2.40%.
On Friday, the markets made up for lost time, releasing four reports. The producer price index, or PPI, which monitors prices of wholesale goods, rose only 0.1% after posting a 0.4% increase in June. The PPI core, which eliminates food and oil prices, held at 0.2%, and the NY Empire State Index on manufacturing in August fell by almost 40%, tumbling from 25.6 to 14.7.
The other two reports were better. Industrial production in July jumped to 0.4% from 0.2%. However, capacity utilization, the report that calculates the percentage of equipment and manpower working at 100%, rose to 79.2% from the previous months’ 79.1%. The final report, the University of Michigan consumer sentiment report, disappointed by falling to 79.2 from 81.8. The U of M sentiment report is thought to be an indicator of consumer spending, which might explain why the retail sales figures were so dismal.
When the markets finished the week there was little reason to be optimistic. Stocks, which had been doing well, headed into negative territory, with only the Nasdaq putting up any gains. No surprise! The Nasdaq rose 11.93 points, but the Dow fell 50.67 points and the S&P 500 closed at -0.12 points. The yield on the 10-year Treasury ended up at 2.41%.
The Mortgage Bankers Association had little to report last week in the way of good news, as mortgage applications fell 2.9% from the previous week. The Market Composite Index slid 2.7%, on a seasonally adjusted basis, and refis dipped 4%, the lowest since May. But the average contract interest rate for a 30-year conforming loan held at 4.35%.
This week is a short one if you exclude Monday’s release on the NAHB housing market index for August. It’s not a big market-mover. And there’s nothing scheduled for Friday, which leaves us with three days of reports — but most of them could be influential.
Tuesday the consumer price index for July, or CPI, leads off the reports for this week. It checks on the prices we pay at the retail level, with the primary intent of looking for signs of inflation. Economists haven’t spotted any lately, and the trend could continue. The core rate, which excludes volatile prices of food and oil, is also checked. The second report is on the always interesting housing market. It focuses on the number of housing starts and building permits that were initiated or issued in July. As of last Friday, housing starts were forecast to jump to an annual rate of 979K, which would be a huge increase from the previous 803K.
On Wednesday the minutes from the Fed meeting of July 30 will be released. At this time no one expects a rate change, but on the other hand, everyone is curious about when that might happen.
Thursday we get the initial and continuing jobless claims reports. The most interesting and influential report of the day will likely be the report on existing home sales for July, which are projected to come in at an annual rate of 5.00M units. After that, it’s downhill, with the Philly Fed report on manufacturing conditions in the Mid-Eastern part of the country. Those in the know say it could drop to 15.0 from the prior number of 23.9. That will be followed by leading economic indicators for July, which could rise to between 0.6% and 0.7% from the previous 0.3%. This report generally has little-to-no influence on the markets.
Again, we get a little break on Friday as there are no economic reports scheduled.

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

Making a Statement with Your Home Page

Posted by Joel pate in Uncategorized. Tagged:

An LO’s website should be informative and educational. One place you should completely customize the content is on your home page. Here are just a few reasons why:
You only get a brief opportunity to impress a site visitor and tell them why you’re the LO for them.
It may be the only page someone sees on your site.
Search engines like Google rank unique content higher.
You don’t want your homepage to look the same as your competition’s.
So, it seems obvious that a personalized home page is a good thing. Now let’s discuss tips for making a good one.
What’s your message?
Start with at least three things you want your clients to know. In marketing terms, this is called “branding.” You don’t have to be as good at this as Mac computers or car manufacturers are, but you should attempt to define yourself somehow.
Do you have the experience of thousands of loans under your belt? Say it! Do you specialize in specific financing markets? What are they? Are you really easy to work with? Tell ‘em why!
An unknown marketing genius is quoted as saying: “If you don’t tell them, they won’t know.”
Make the customer the subject of your home page
Most people’s favorite subject, of course, is themselves. So, try not to start every sentence with “I” or “We.” Make them the subject. Talk about their problems and how you can solve them. They’ll definitely be interested in that!
Don’t beat around the bush
As we mentioned before, you’ve only got a brief opportunity to get someone’s attention and prove you’re different. While something like, “Welcome to our website. This is the online home of XYZ Mortgage Services…” sounds pleasant and welcoming, it’s not very helpful and wastes precious real estate that should be used to talk about your customers’ needs. Something such as, “With 15 years of customer-focused mortgage experience, XYZ Mortgage is the logical choice for your home mortgage needs in Anytown, Anystate.” would be more to the point.
Weave keywords into your body copy
For people wanting better search engine rankings, this is even more important than getting people to link to your site. Put yourself in a potential client’s shoes. If they were going to use a search engine to find your company, what do you think they’d type in? Now, are those phrases in the content of your home page? If you can’t work them into the body copy, at least put them in your page’s keywords.
Use bullet points instead of long paragraphs
Bullet points don’t really have to flow so much or be as conversational. Similarly, you can make a list of items to keep readers engaged. (Think about it. When you see practically any list, don’t you just have to know what comes in at number one?)
Use an image or a graphic
People are always drawn to pictures, and it cuts down on the amount of text you have to write. If you can capture an interesting image of something that relates to your business, include it in the body of your home page text. Use an application like Microsoft’s free image optimizer to reduce the resolution so it loads quickly and fits neatly on the page.
Get someone to review your home page
It could be your spouse or anyone else you trust to give an honest, critical, opinion. They don’t have to know anything about mortgage lending, either. Put your ego aside for a moment, and listen to what their general impressions were. Having multiple people review your site is a really good idea.
Don’t just “set it and forget it”
Customizing your homepage isn’t a one-time exercise. Come back to it often and re-evaluate its relevance and appeal. You don’t have to change it every week, or even every month. But don’t assume that because you’ve worked on it once, that’s it. Web traffic and search engine optimization is like anything else. You get out what you put in. Don’t just “set it and forget it.”

By: Matt Krodel, www.alamode.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

When Sending Marketing Messages, ALWAYS Proofread First

Posted by Joel pate in Uncategorized. Tagged:

Even if you purchase “professional” real estate marketing letters, don’t just cut and paste. Proofread them before you send them.
Today I had a call from an agent who has purchased and mailed all sorts of expired listing marketing letters over the last couple of years — and has gotten no response whatsoever. He couldn’t figure out what was wrong. He was tempted to purchase my expired listing letters, but after his previous experience, he wasn’t sure it was a good idea.
We talked a while and I asked him to send me some of what he’d been using — maybe I could see the problem. And I think I did. Those letters were making him look unprofessional. Here’s what I found:
One batch of letters made me feel like the writer was screaming at me. Huge, loud headlines said I’d better take action NOW before it’s too late. A couple of them even said “Last Chance!” The last chance referred to receiving some kind of marketing plan. (He said one lady called, and she told him she was offended by one of the headlines. That might have been a good clue that others also objected.)
The other set had some letters that were “sorta OK” but were written in large type and some kind of script print. The font made them hard to read.
Some were also a wall of words.
But, even worse were the errors in word choice. To a person like me those errors were huge stop signs in the middle of the messages. One suggested that the homeowner might be getting ready to “put the house back onto the market.” Onto? That sounded wrong, so I did some research. I can see why someone might think it was correct, but “onto” means to physically put something on something else. For instance, “They used a crane to lift the new sign onto the roof.” It can also mean “aware of” as in “I’m onto your tricks.”
And then there was: “people glad to recommend our services and relay their experience.” To relay is to pass along something told to you (or given to you) by someone else. For example, you would relay a message. The word they wanted was “relate.” You relate your own experiences, and relay someone else’s.
“Your Invited” in a headline stuck out like a sore thumb, too. Yikes!
So why am I telling you? You may have purchased letters from one or more of these folks, trusting that, since they were written by a supposed professional, they’d be correct. If you did, be careful! You need to proofread them carefully before cutting, pasting, and using them as your own. It’s critical that you only send out materials that are truly professional.
And speaking of materials, are your real estate marketing materials too wordy?
If you’re concerned about your messages being too wordy, try a simple cure that many copywriters use: Eliminate the first sentence, or even the first paragraph or two.
I was just reminded of this trick as I was working on another article. I had changed the title, so the first paragraph no longer fit. Then I looked at all of it again and realized that the first two paragraphs were completely unnecessary.
Most of us tend to “warm up” a bit when we begin to write. We ramble under the guise of introducing the subject. Most of the time it’s really not necessary. In fact, our writing would be clearer, more concise, and more interesting if we skipped the warm-up and got straight to the point.
After all, if you’re writing a marketing letter, you’re trying to join the conversation that’s already going on in your prospect’s head. If that person’s inner conversation is in no way related to what you have to offer, no amount of introduction is going to catch his attention.
Don’t stop there…
You’re also likely to find other sentences or paragraphs throughout the body that can safely go away. Sometimes it hurts to delete them because you love what you wrote. But if they don’t actually add value, they’re just clutter. Other times you can tighten your copy and increase clarity by combining two sentences.
So write it — get it all out there. Then come back an hour or two later and see what you can eliminate.
People today are impatient. Never use two sentences, two paragraphs or two pages to say what can be said in just one.

By: Marte Cliff, www.activerain.trulia.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

Luxury Homes Accessible to All

Posted by Joel pate in Uncategorized. Tagged:

When constructing Robert Weidenaar’s custom-built home in Frankfort, Ill., builders made a mold of the homeowner’s back to craft a concrete shower bench tailored to his dimensions. The bench is molded on the sides to perfectly fit his hands, eliminating the need for traditional grab bars.
Mr. Weidenaar, 42, who is paralyzed from the chest down and uses a wheelchair, said it was one of his priorities that the shower looked modern “and didn’t scream handicap.” The house is invisibly accessible in other ways: Because Mr. Weidenaar races cars as a hobby, the builders constructed a workshop designed around his chair so he can easily fix his autos.
A survey released in June by the American Institute of Architects found that two–thirds of residential architects are seeing increased interest in accessible design elements such as wider hallways and fewer steps. More than half of those surveyed say there has been growing demand for amenities like ramps and adapted entrances. Luxury homeowners are challenging architects and builders to create homes that are both accessible and attractive: high-end finishes that are slip-resistant; elevators and lifts integrated into cabinetry; countertops, cabinet pulls and faucet handles within reach of someone who is seated.
“It’s very rewarding, when everything is right, it’s seamless,” said Mr. Weidenaar. “You don’t focus on the negatives, because it works for your chair. It’s a wonderful way to live.”
Mr. Weidenaar initially discussed his vision with several architects before deciding to work with Steve Lecas, owner of Gander Builders. Mr. Weidenaar and his wife, Jenny, made sure one of them would be available on site each day. Mr. Lecas also used a wheelchair during the process so he could catch any potential challenges Mr. Weidenaar might run into. The final cost of building came to nearly $2 million. Five percent of the cost went toward incorporating all the accessible elements.
Mr. Lecas noted that, while the home is focused on accessibility, it doesn’t appear different from any other luxury dwelling. “That was probably the part of the house that made me so proud,” he said.
Richard Shiffrin, a 66-year-old retired attorney, lives on the New Haven, Conn., shoreline and is mostly reliant on a motorized scooter. He spent $1 million to build his accessible 2,500-square-foot beach home, which is raised 8-feet-high on stilts. Mr. Shiffrin’s architect, Peggy Rubens-Duhl, created an outdoor room, complete with a lounge, accessible cabana shower and changing room, in the space underneath the house. Mr. Shiffrin can take an elevator directly to the outdoor room and then take a barrier-free boardwalk down to the beach.
Mr. Shiffrin says through the years he has seen good and bad attempts at accessibility, and he incorporated those experiences when constructing the house. He says that 5% of the construction cost involved making the home fully accessible; the elevator, a feature that Mr. Shiffrin said was most essential for him, was also the most expensive, costing close to $35,000.
“I can fully enjoy the home. There’s no part of the home that I can say, ‘Wow, that room is hard for me’ or ‘That appliance is hard for me,’” he said. “So it meets my needs, and that’s the combination of a good architect and a homeowner who is knowledgeable about their needs,” said Mr. Shiffrin.
Some homeowners are opting for accessible designs before they actually need them, with an eye to the future.
Donna Bailey, 63, and her husband David, 67, made sure when they recently built their 6,200-square-foot home in the mountains of Asheville, N.C., that it would accommodate their needs if they someday use wheelchairs or need extra assistance getting around the home. Every doorway is 4-feet wide; the floors are hardwood, and each of the showers in the house has a curbless design. The steps of the interior staircase are lighted to minimize the risk of falling.
The Baileys knew that they might one day struggle to carry the 20 pounds of wood needed for one of their fireplaces, so they had a special butler’s elevator built in to use for loading the lumber.
Construction cost close to $300 a square foot, and outfitting the home for accessibility totaled 3% of the roughly $1.86 million price tag.
Leslie Piper, consumer housing specialist with Realtor.com, says she has seen a clear shift in the past few years in the demand among baby boomers who want easier to manage homes. “We’re moving away from the more traditional kind of compartmentalized spaces, where you have a formal living room and formal dining room,” she said. “We are seeing a more open living space.”
However, when it comes to selling accessible properties, pointing out that it is wheelchair accessible doesn’t increase the value, Ms. Piper said. The words “handicap,” “disabled/disability” and “barrier-free” appear in 6.5% of the nearly 3 million home listings on Realtor.com. Ms. Piper suggests that when it comes to listing terminology, using descriptions such as “wide hallways” or “open floor plan” will better attract buyers who are in the market for such homes.
For their part, the Baileys decided it was easier to design an accessible house from the start than trying to retrofit later on. When friends visit, “they are taking notes and saying ‘that’s a good idea, we need to do that,’ which is very flattering,” said Mrs. Bailey.

By: Rhonda Colvin, www.wsj.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

14 Daily Habits That Will Make You Smarter

Posted by Joel pate in Uncategorized. Tagged:

Getting smarter isn’t something that happens overnight. Instead, you have to build your intelligence every day through intentional daily habits.
In a recent Quora thread “What would you do to be a little smarter every single day?” readers shared their advice on good habits you can establish. Here are some simple actions that could help you.
1. Read the newspaper. It will help you become more aware of the important things happening around the world. You’ll learn to form your own opinions and connect the dots between seemingly unrelated things. You’ll also have a lot more to talk about at parties or with friends. — Manas J Saloi
2. Play devil’s advocate. Take something you recently learned and generate a unique opinion on it that wouldn’t immediately come to mind. Try to support it with evidence, and be open to the idea that new evidence will change your opinion. Repeat this every day, and you’ll become much better at thinking independently and outside the box.
If you’re feeling stuck, try reading and critically evaluating the editorial section of papers. They will help you understand how other people form arguments and express their opinions. — Peter DePaulo
3. Read a chapter in a fiction or non-fiction book. Aim to read a book a week. You can always find pockets of time to read, whether on your daily commute or while you’re waiting in line. Goodreads is a great way to keep track of everything you read and to also find a community of other readers.
Fiction books are great for understanding characters and getting absorbed into another perspective, while non-fiction books are great for introducing you to new topics, from politics to psychology. — Claudia Azula Altucher
4. Instead of watching TV, watch educational videos. Sometimes, it’s more fun to watch things about a subject you love than to read about it, and you can learn a lot from other people’s experiences.
You can find fun, educational videos on Khan Academy or watch TED talks. You can also find good ones on Youtube’s channel SmarterEveryDay. In videos, the information is often presented in a digestible, memorable way, so you can be assured it’ll stick. — Hendrik Sleeckx
5. Check in with your favorite knowledge sources. Every day, scroll through Quora, Stack Overflow, specialty blogs, or any other sources that satiate your hunger for knowledge. This is an extremely easy habit because other users are curating the content for you, so all you have to do is follow the ones who write about topics interesting to you. Try using Pocket to save articles for later reading, and then try to get through them before going to sleep at night. — Manas J Saloi
6. Share what you learn with other people. If you find someone to debate and analyze ideas with, you can add to each other’s knowledge and gain new perspectives. Also, when you can explain ideas to someone else, it means you’ve definitely mastered the concept. You can even share what you learn without directly talking to someone. Many people like to start blogs so they can engage others in online dialogue. — Mike Xie
7. Stimulate your mind. Going on a daily run or vigorous walk is a great way to get your brain flowing and to keep your mental health in shape. It’s also a great way to think through difficult decisions or process new information. — Rick Bruno
8. Take online courses. Make sure you don’t overload yourself; commit to one or two and truly focus on them. The syllabi will also keep you on track, so you know you will be doing something every day, whether it’s listening to a lecture or working on an assignment. — Manas J Saloi
9. Talk to someone you find interesting. Even if they’re strangers, don’t be afraid to approach them. Ask about their interests and how they discovered them. You will often learn the most from people you barely know. — Manas J Saloi
10. Hang out with people who are smarter than you. Spend as much time as you can with them. Every day, you should strive to have a coffee date or walk with someone who inspires you.
Always be humble and willing to learn. Ask as many questions as possible. If you are often around people who are more knowledgeable than you, you’ll have no choice but to learn more. — Manas J Saloi
11. Follow your questions. If you see or hear about something cool, don’t just let the moment pass. Follow up; pursue your curiosity and find the answer to your question. — Mike Xie
12. Use a word-of-the-day app. You will increase your vocabulary, which can help you in competitive tests like the SAT or GRE, or even just sound more eloquent in daily interactions. — Manas J Saloi
13. Explore new areas. If you can’t travel every day at least try to find something new in your hometown. You’ll meet different people, learn new facts, and understand something new about the world. It’s a lot more productive than staying at home and watching TV. — Manas J Saloi
14. Play “smart” games. Some games, like chess and Scrabble, expand your mind. Challenge yourself when you play them. For example, play Scrabble without a dictionary. You can also solve puzzles via games like Sudoku, 2048, and Doors. — Saurabh Shah

By: Maggie Zhang, www.businessinsider.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

Three PS of Real Estate Marketing

Posted by Joel pate in Uncategorized. Tagged:

Make no mistake that until real estate professionals get an actual contract on a listing they have one job to do: market the home.

And what exactly does that mean? It is their job to get as many eyes on a property and feet in the door as possible. Real estate is a numbers game. The more buyers that agents can get in a home, the better chance they have to generate offers.

When I first started in sales, my manager told me, “There is a buyer for every home … sometimes you find them and sometimes they find the home. You want to find them before they find the home. ” Meaning, you want to make sure they buy the house while it is listed with you. It is up to you to put all of your efforts into marketing the listing to find buyer as soon as possible.

I call them the Three PS of Real Estate Marketing – Price, Product and Presentation. To have a successful marketing campaign, the three PS must match up with what a buyer is looking for.

Price
Your marketing plan, of course, is only as good as the price. If you do not think that price is important, think about a home currently on the market that you think is priced properly, but is not selling. Now, drop the price $50,000. Will it have an offer in 24 hours? Yes, probably multiple offers. Why? Because pricing is critical! Plain and simple, if you are getting a lot of showing and no offers, there is probably an issue with the price. If you are getting a lot of hits on the Internet but not getting showings, you most likely have it priced incorrectly.
Sellers ultimately control the price, so it is up to you to be persistent in guiding them through the pricing process. You can never underprice a home because the value will always seek itself. A home is only worth what a buyer is willing to pay for it.
Tip: Plan a monthly meeting with your sellers (more often, depending on their level of motivation) to evaluate your marketing plan and pricing strategy. Never be afraid to ask for a price improvement. You have a fiduciary responsibility to the seller, and that includes guiding them on the right price in the current market.

Product
The product is the home itself. Have you ever pulled up in front of a house on a listing appointment and said to yourself, “Ugh, it’s THIS house?” Obviously, there is nothing we can do about the structure of a home. So, unless you can convince a seller to add another bedroom, invest $10,000 in landscaping, or put up new siding, the product you are looking at is the product that you will be marketing. Feel free to make suggestions based on feedback, but sometimes adjusting the price is a better option than sinking more money into the home, especially when the seller does not have the money to invest.

Presentation
Is the home wallpapered with family photos? Is the lawn overgrown? Way too many bold paint colors? Presentation helps create that moment of truth.
Buyers these days are looking online for properties, and it only takes one bad picture for them to rule out a home. Staging is, therefore, critical. Take the initiative to speak to your sellers about the interior look and feel of the home before a showing. Presentation of the home is key to getting feet in the door and creating that “wow” moment. The “wow” moment is the feeling the buyers should get within 30 seconds of being in the house. As a bonus, if you can grab their attention right away, they will have more enthusiasm during the showing and look past some of the negatives of a home.
The three Ps are the ingredients to a successful marketing campaign. When the price, product, and presentation of a home all match up, get ready for that phone to start ringing with offers.

By: Karlton Utter, www.bhgrealestateblog.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

CFPB Proposes to Publish Complaint Narratives against Banks, Servicers

Posted by Joel pate in Uncategorized. Tagged:

In the wake of the financial crisis, the trust level between the banks — who are seen by many as a culprit in the downturn — and consumers who are, in many cases, still attempting to fully recover is tenuous at best.
In the middle, you’ve got the referee: the federal government, charged with ensuring that the circumstances seen in the latter part of the previous decade do not repeat themselves.
To that end, the Consumer Financial Protection Bureau (CFPB) proposed a new rule to allow consumers that post complaints to the option to opine on the details of their complaint made on the bureau’s public facing complaint database.
The CFPB argues that allowing consumers to expand on the circumstances surrounding their complaints allows for greater transparency in the system.
“The consumer experience shared in the narrative is the heart and soul of the complaint,” said CFPB Director Richard Cordray. “By publicly voicing their complaint, consumers can stand up for themselves and others who have experienced the same problem. There is power in their stories, and that power can be put in service to strengthen the foundation for consumers, responsible providers, and our economy as a whole.”
The banking and servicing community is, perhaps understandably, concerned.
“Publishing narratives of every unverified complaint will give only the illusion of disclosure. Banks have an obligation to their customers to maintain the confidentiality of their information, making it virtually impossible for a bank to offer a complete response to these narratives,” said Richard Hunt, President and CEO of the Consumer Bankers Association. “It is the role of the CFPB as the traffic cop to distinguish violations of law from unfounded complaints. Instead, they want to let others figure it out from one-sided and unverified narrative information.”
The CFPB began receiving complaints from consumers when it opened its doors in 2011. Those complaints are about mortgages, bank accounts and services, private student loans, other consumer loans, credit reporting, money transfers, debt collection, and payday loans. It currently houses the nation’s largest public collection of consumer complaints, with more than 400,000 grievances and growing.
Consumers already have the option of posting a short synopsis of the basic facts of their complaint in an attached small text box. This rule proposal, published for 30 days of comment, will allow full narratives.
The agency also provides a “Tell Your Story” site for the public. Those stories can, in their words, “help us spot issues in the financial markets, illustrate challenges people are having, uncover insights into the products and services you depend on, and identify and fix problems before they become major issues. The result is a better outcome for everyone — a fair financial marketplace.”
The bureau argues that the short synopsis process safeguards the banks reputations by allowing them to answer to the complaint with a concurrently posted response.
Hunt is not convinced.
“This action will ultimately add to consumer confusion, harm industry reputations, and undermine any hope the CFPB may have to be viewed as a fair and honest broker. For an agency which prides itself on being driven by ‘accurate’ data, this is very disappointing.”

By: Derek Templeton, www.dsnews.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 August 11th

Posted by Joel pate in Uncategorized. Tagged:

After the week of July 28, when “all hands on deck” were required to handle the 22 reports that poured in, last week gave us a needed break. There were no reports issued last Monday and activity in the Middle East calmed down just a bit — enough to allow the yield on the 10-year note, which moves inversely to price, to edge down to 2.51%.
Stocks joined in, putting up some impressive numbers. On Monday the Dow rose 75.91 points, while the Nasdaq added 31.25 points, and the S&P 500 closed with a 13.84-point gain.
Tuesday was another story. There appeared to be no forward movement in the Middle East crisis. And although the two reports issued were positive, stocks got hit again. Factory orders in June rose 1.1%, which was a big leap from the previous -0.6%. And ISM services moved up nicely, increasing to 58.7 from 56. Both reports handily beat expectations.
However, the Dow plunged 140 points on Tuesday, while the Nasdaq dropped 31.05 points, and the S&P closed down 18.78 points. The 10-year Treasury closed at 2.49%.
On Wednesday, the European markets continued to decline, as many of those countries remain on edge over the situation in the Ukraine and economic reports have failed to show progress.
There were no major (or minor) changes abroad, and the markets reflected that. Even though the U.S. trade balance in June fell by $3.2 billion, it barely made a difference. The USA is still in a deep hole regarding that statistic.
When the markets closed on Wednesday, the Dow was up 13.89 points, while the Nasdaq added 2.22 points. The S&P 500 edged up just 0.3 points, which converted to “no change.”
On Thursday stocks opened on the upside, but after 90 minutes of ups and downs, the downs won. The threat of military air drops in Iraq to counter an Islamic group’s actions might have also added to the unrest. The ban Russia placed on chicken from the U.S. might also have had a small impact. The only economic report was on jobs. First-time claims numbered 289K for the week ended August 2, which was lower than expected and below the 302K claims reported the previous week. Continuing claims, those filing for a second or more weeks of jobless benefits, also fell to 2518K, down from 2532K the previous week.
When the bell rang on Thursday, stocks were under water. The Dow plunged 75.07 points. The Nasdaq joined the Dow in losses, closing down 20.08 points. The S&P 500 fell by 10.67 points. The 10-year Treasury closed down five basis points at 2.42% — its lowest close since Sept. 7, 2012. In spite of all the ups and downs, stocks are now up about 1%.on the year.
The markets continued to stumble early Friday, but later worked their way into positive territory. Second quarter productivity shredded the previous month’s reading and also the expectations. It jumped 2.5% from the previous -4.5%, while unit labor costs fell by 0.6% from the previous 11.8% (not a typo). Wholesale inventories in June came in at 0.3%, the same as in May.
According to the Mortgage Bankers Association, mortgage applications were up 1.6% for the week ended August 1. The index for refis jumped 4.0%, while home purchase requests were up 2.0%. Once again, refis took the lion’s share of business, which stood at 55%. The average contract rate for a conforming 30-year loan edged up to 4.35% from 4.33%%.
When the week ended on Friday, all of the indices had posted nice gains. The Dow was up 185.66 points, or 1.13%. The Nasdaq gained 35.93 points, or 0.83% and the S&P 500 edged up 22.02 points, a 1.15% gain for the day.
This week is a virtual desert for reports until Wednesday. That’s when things really heat up. Retail sales and retail sales ex-auto for July are up first. Sales could come in anywhere between +0.1% and +0.3%. Neither is very good. Sales excluding autos should increase 0.3% — a slight dip from June’s 0.4%. In June, business inventories could edge up to 3.0% or 0.4%. The previous reading was 5%. Import and export prices for July are not available, but the odds are no one cares.
On Thursday first-time jobless claims for the week ended August 9 are due. Continuing claims will also be released. Export and import prices for July follow, and that’s it for Thursday

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 Refinance Market Isn’t Dead Yet

Posted by Joel pate in Uncategorized. Tagged:

Believe it or not, there was a time when homeowners refinanced for reasons other than a lower rate. Remember the days when home equity was rising and people needed cash for upcoming life events? Somewhere in the whirlwind of HARP and interest rates in the range of 3 percent, many originators forgot the most basic reason why people refinance: to get into a better financial position.
It’s time to relearn the art of refinancing, if for no other reason than to hedge against trailing-off purchase business as home prices rise and inventory shrinks. Consider the following five refinance strategies that will help you capitalize on upcoming social and economic trends. If you formulate your plan now, you can keep your refis alive for years to come.
1. Reimburse cash buyers
This past February, a staggering 43.3 percent of nationwide home purchases were all-cash sales, according to RealtyTrac. Some areas showed even higher percentages of non-financed transactions.
There are several reasons for this trend. Some homebuyers don’t want a mortgage and don’t need one, but many buyers pay with cash because they’re buying a distressed property that’s in bad shape or being sold at auction. Sometimes, competition is too stiff to write financing into the offer.
What if you could become an expert at reimbursing cash purchases? Many homebuyers — owner occupants and investors alike — wouldn’t mind having as much as 70 percent of their purchase price reimbursed. After the sale, the competition for the home is over, and there are no deadlines to meet. With this reduced pressure, cash buyers may be open to a mortgage to increase their cash on hand.
In 2011, Fannie Mae started allowing cash-out refinances immediately after a cash purchase. A buyer no longer has to wait six months to satisfy the seasoning requirement. This is called the Delayed Financing Exception. Even investors with five to 10 financed properties are eligible. This provides serial investors with a real solution if they want to inject cash back into their businesses.
Turn these former dead-ends into a real income stream.
2. Ditch mortgage insurance
The mortgage world is currently bemoaning the recent increases in FHA mortgage insurance. The most noteworthy FHA fee hike is the lifetime mortgage insurance requirement on most FHA loans opened after June 3, 2013. Unless your FHA clients refinance, they may pay mortgage insurance for 30 years. Although a conventional refi will probably include private mortgage insurance (PMI), it could still be a great benefit to them.
Let’s assume that a client shoots for 10 percent equity before proceeding with the conventional refinance. Your borrower could save money immediately, since PMI is typically cheaper than FHA mortgage insurance. More significantly, your client will see a “light at the end of the tunnel” as far as mortgage insurance is concerned. PMI can be a thing of the past in as little as two years.
Even if it takes five years to ditch their PMI, conventional refinances still will save many of your clients 20 to 25 years of FHA mortgage insurance payments.
3. Take a bite out of tuition costs
Public college tuition and fees have increased an average of about 4 percent per year for the past 30 years. Federal student-loan rates are fixed, but change once per year according to the 10-year Treasury note. Everyone in the mortgage business knows how unpredictable the 10-year note can be.
So, what would you do if you were a parent of a 15-year-old, and you didn’t know where the 10-year note would be in three years? Student-loan rates could potentially rise all the way to the government-mandated cap — between 8.25 percent and 10.5 percent, depending on the type of loan.
A cash-out loan at current interest rates could be a wiser move than rolling the dice on future student-loan interest rates. Parents with a lot of equity in their homes could prepay college tuition, and do it at a low, tax-deductible rate.
In Washington State, for instance, there’s a program called the Guaranteed Education Tuition (GET) program. Parents can buy college credits at today’s cost to be used later, even 18 or 20 years later, when costs will be much higher. Programs like this can be an excellent selling point, so be sure to see if your state offers a similar program.
Parents of graduates also may provide additional cash-out refinance business. They may, for instance, have to help a child who has a low-paying job and huge student-loan payments. You could be a valuable resource to parents — and keep refinance business coming through your door — if you offer solutions to help manage these tuition-related issues.
4. Lower retirees’ living costs
There are more than 50 million people in the United States between the ages of 55 and 69 — almost 17 percent of the population — according to the U.S. Census Bureau. Many have substantial equity in their homes. Unfortunately, not all of them have adequately prepared for retirement.
Retirees’ biggest bills will be either their mortgage or medical costs. You can ease the burden of their mortgage payments. Here are a few ideas:
Offer reverse mortgages. A reverse mortgage eliminates the homeowner’s mortgage payment. Although it is not ideal for everyone, it can be a powerful tool to help individuals who retired too early or expect to run short on retirement funds.
Change the term. Many homeowners refinanced into a 10- or 15-year loan recently, but what if some of these borrowers are forced into early retirement? Going back to a 30-year loan would help these clients lower their costs. Conversely, homeowners around the age of 55 might want a 10-year loan to set them up for retirement at 65.
Consider an ARM. Offer ARMs to borrowers who expect to pay off their homes in five to seven years. An ARM will keep their payments ultra-low and maximize their retirement savings.
Now is your chance to help your aging clientele and create new revenue streams while you’re at it.
5. Refinance vacation homes
According to NAR’s 2014 Investment and Vacation Home Buyers Survey, sales of vacation homes were up nearly 30 percent in 2013. Vacation homes made up 13 percent of all transactions.
In some cases, vacation-home buyers don’t have cash on hand for down payments, but do have significant equity in their primary residence. Many potential buyers don’t realize that they can qualify for a vacation home. It may be a great option for them to cash out their current equity to buy a vacation home — a great long-term investment and a place to build memories for years to come.
These five strategies may get you thinking about ways you can leverage current and future trends to increase your business. With planning, you can take advantage of continuing opportunities in the refinance market — a market that isn’t dead but is just being reborn.

By: Tim Lucas, 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