Archive for November, 2014

Chart Your Goals To Create A Road Map To Success

Posted by Joel pate in Uncategorized. Tagged:

Many people suffer from being “rational dreamers.” They want to achieve a big dream but hold themselves back by being risk-averse. They don’t want to disrupt the status quo so they play things safe.
To coax themselves out of their comfort zones, people must set goals. I consider the process of goal setting to be like arranging checkpoints along the way to a desired end. Setting and meeting small goals can serve as a thermometer-check on progress, measuring advancement and indicating an overall plan’s viability.
And with just one month left till the New Year, now is the time to set your goals for 2015.
Approach goal setting as if you were creating a customized road map to chart your success. Think about when you take a really long road trip with your family or friends. Most often, you start off knowing the destination, but since road trips can be fairly long, making pit stops along the way is necessary. Before venturing out, you might decide to stop a quarter of the way along for food, then at the halfway point for gas, at the two-thirds mark to stretch and perhaps 100 miles beyond that for more gas. You’re meeting smaller, more immediate goals that build on your efforts to reach the final destination.
Create a personalized road map for arriving at your 2015 desired business destination by setting the following types of goals: immediate, intermediate and stretch goals.
1. Set a stretch goal.
Start by developing a stretch goal, a long-term objective that will take years to accomplish. Determine your stretch goal first because this choice will influence your selection of intermediate and immediate goals.
A stretch goal should be big. Some stretch goals are more specific than others. One person’s specific goal might be “to become the CEO of Google.” Another individual’s more vague stretch goal would be “to produce a national television show.” An extremely vague goal would be “to work in the fashion industry.”
It’s OK, though, to leave room for interpretation.
Be as specific as possible and allow yourself to adjust a goal. Once you establish a stretch goal, you can sketch out checkpoints along the way.
2. Set immediate goals.
I like to create immediate goals that are small and that assign a deadline that’s very soon. I suggest setting up these goals as activities that can be accomplished, say, in a week.
Ask yourself, What do I need to get done this week that will contribute to and move me along my desired trajectory? What small thing can I do this week that will move me an inch closer to my goal?
A salesperson might set a goal of adding ten new names to his or her database. For writers, an immediate goal might be to write six pages of a script or participate in a weekly writing class. It could also be to start reading a book about a field you’d like to enter. Be realistic. Accomplishing immediate goals should be like taking small baby steps: They contribute to your overall development and growth and set you up to complete intermediate goals.
3. Pick intermediate goals.
Intermediate goals are broader than immediate goals and can have monthly or yearly time frames for their accomplishment.
A loan officer’s intermediate goal could be to win the business of one additional real estate agent each month. For someone else it could be to apply to an apprenticeship or training program. If a desired outcome requires your relocation, more schooling or quitting a job, set a timeline for taking one of these intermediate steps.
Meeting intermediate goals can help propel you forward along your trajectory. Achieving them might push you outside your comfort zone more than completing immediate goals — and that’s great. It’s through discomfort that people grow and become who they want to be.
Launching into 2015 with goals firmly set will ensure you more success and a better bottom line in the New Year.

By: Natalie Bounassar, 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

Set The Stage For A Successful Listing Presentation

Posted by Joel pate in Uncategorized. Tagged:

REALTOR® Sue Miller believes the first hour of a listing presentation is critical. This one-on-one meeting is your chance to showcase the professional way you conduct yourself, establish a connection with potential sellers and educate them about what is happening in the market and how you can help them sell their home. Fail to impress and they will look elsewhere. “My philosophy is if you have not given them the facts, built trust and walked out with an agreement in an hour, you probably don’t get the job,” says Miller, managing broker of Coldwell Banker Honig-Bell in McHenry.
With so much riding on your listing presentation, what can you do to improve it and make yourself stand out from all of the other agents hoping to get the seller’s business? The keys are practice, preparation and personal connections.
“We forget that we don’t have a product to sell. All we sell is a service,” Miller said. “They want it at their speed, in their preferred method and at their preferred pace.”
Today’s housing market affects how agents should approach the listing presentation now. During the economic downturn, the listing presentation conversation focused on value. Sellers wanted to know what their homes were worth and if they were in a position to sell, said Miller. Now, as home prices have rebounded and owners are accumulating more equity, the listing presentation has shifted to the more traditional conversation of sellers asking what agents can do for them, she said.
Practice makes perfect
One of the most common mistakes is not rehearsing the listing presentation before meeting with clients, says trainer Wayne Paprocki. Athletes and other professionals warm up and practice. Too many REALTORS® think they can just walk in and wing it. “Agents don’t warm up; they show up, and that is the first mistake they make,” he said. Don’t be the agent who fumbles through the listing appointment or shows up only to have forgotten paperwork or materials at the office. Practice, drill and rehearse before you ever show up on the seller’s doorstep, Paprocki says.
Prepare for every possibility
Just as important as practicing is preparation. Miller estimates that a one-hour listing presentation requires about two- to three hours of preparation.
In her first conversation with potential clients, she establishes what kind of presentation method will work best for them and how they want to receive communications from her. Ask sellers how they currently get their news and information. Do they have a newspaper delivered to their door, or do they prefer to read the latest news on their mobile device? Figure out how your clients like to digest information and reach out to them that way, Miller says. That can be more effective than directly asking a seller how they want the CMA, since many may have only been through the process of selling a home a few times and aren’t familiar with industry lingo, she said.
Miller still prepares the listing presentation in multiple formats — including paper and multimedia — so she always has a backup. “If they want a five-minute PowerPoint, I’ve got to nail it. If they want a 57-page presentation on the “cloud” that they can get from their phone, their iPad or their laptop, I’ve got to nail it,” she said. “I need to know my stuff in order to nail any opportunity.”
In order to do that, agents need to take advantage of all of the tools at their disposal. Use the real-time market data available from your local MLS to give sellers a snapshot of the market from local days on market and absorption rates to distressed properties, inventory and bed and bath breakouts, Miller said.
Ready, set, LIST
Paprocki, a trainer with the Real Estate Negotiation Institute, teaches the L.I.S.T. approach (Lead in, Investigate, Show and Sell and Tie down) for developing a solid listing presentation system.
Lead In. When you first meet with the seller, lead with what Paprocki calls creating a “safe island.” Lay out what you will be doing and what the presentation will entail so that they get an idea of the process.
Investigation. Ask open-ended questions that begin with a “w” such as who, what, when, where and why to find out why they are selling and what they expect of the process. Start with more generic questions and then build to the more specific or personal as the seller gets more comfortable. You can also provide the seller with a printed questionnaire. If they see that you ask the same thing of all clients, they might be more forthcoming with their answers, Paprocki says.
Show and Sell. This is when you present your company and what you can bring to the table as their agent. Cover the different agency options, commission policies and fees, legal disclosures and pricing.
Tie down. Wrap everything up by asking for the listing.
“You pull yourself out of the commodity market of agents and into what I call the specialty market of a great agent, and you do that with how you show and sell,” Paprocki said.
Build a personal connection
Industry trainer Greg Herder says one key to a winning listing presentation is building a connection with the seller. Focus on the customer and their needs. Listen twice as much as you talk and you’ll find insights into the seller’s motivations that will help you meet their needs.
Too many agents come in with a presentation that puts too much of the focus on them and what they are going to do for the seller. Herder urges agents to take a step back and begin by first working to build a rapport with the seller.
When you arrive, ask the sellers to give you a tour of the home. Put down the paperwork and the notebooks and keep it a conversation that allows the sellers to relax and tell you about their home and its features. Ask what selling will mean to them and their family.
Sellers want to work with agents who understand them. If you build a connection with your clients upfront, it makes the other steps of the process– talking about pricing, commissions, etc. — much easier, Herder said.

By: Stephanie Sievers, www.illinoisrealtor.org

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

Baby Boomers And Their Homes: On Their Own Terms

Posted by Joel pate in Uncategorized. Tagged:

The generation born following World War II has had a major impact on the U.S. economy and housing market over the past several decades, and the next decade will be no different as Baby Boomers enter their golden years. Boomers will account for nearly $1 out of every $4 spent on home purchases and rent in the next five years. But don’t expect this generation to stick to the script when it comes to retirement and housing decisions. Not all Boomers are looking to downsize to a condo in Florida and spend their days golfing. Most plan to age in place, but many will move into larger homes and take out new mortgages to do so.
The Demand Institute surveyed more than 4,000 Baby Boomer households (50- to 69-year-olds) about their current living situation, moving intentions, and housing preferences as a part of a broader initiative to understand where future home and community demand is headed. Are all Boomers making the most prudent housing decisions as they approach retirement? Not necessarily. Regardless, their decisions will have important implications as this generation, once again, does it their way.
Prospects Altered
Baby Boomers have been on a wild ride — financially. Their wealth grew tremendously throughout the 1990s and early 2000s before falling dramatically during the financial crisis. Had growth in net worth continued its pre-2008 trajectory, the typical Boomer household would have a net worth roughly 2.5 times what it is today. Although many have delayed or modified their plans, post-crisis, they have not abandoned them entirely, and Boomers will spend $1.9 trillion on new home purchases and $500 billion on rent in the next five years.
Retirement, Ready or Not
Despite the decrease in wealth and the fact that more Americans are working past age 65, Boomers are still retiring or planning to retire when they reach their mid-sixties. Fewer than half of Boomer households are retired today, but a majority will be retired five years from now. Are they ready? With median assets of $240,000 — more than half of which is tied up in their homes — many Boomers still have a ways to go.
Home, Sweet Home
Most Baby Boomers plan to retire exactly where they are — that is, to “age in place.” Some have already moved in the past several years and may not seek to move again, but the majority are staying in homes that they have lived in for a decade or longer. For most, the decision to stay put is a matter of choice, but a subset of Boomers is unable to move due to financial or other circumstances. This is a particularly vulnerable group with extremely limited financial resources.
Aging in Place, Not Aging-Friendly
Not only do Boomers prefer to age in place, they also feel their homes are places they can stay as they get older. This sentiment exists despite the fact that many of these homes lack aging-friendly features such as a single story, low maintenance, and accessibility features. Three-quarters of Boomer households have already suffered a major health incident or have a chronic health condition, further calling into question just how suitable these homes are for aging.
Kitchens & Baths, Not Handrails
If many Baby Boomers are planning to stay in homes that lack aging-friendly features will they renovate their homes to make them more suitable for aging? While many Boomers are planning major home improvements in the next three years, a significant number will make style and value a priority over aging-friendly features. In fact, the top Boomer reasons to renovate are similar to those of younger generations.
Ups and Downs in Home Size
While most Baby Boomers plan to stay where they are, 37% have plans to move from their current home. The common wisdom is that Boomers will invariably downsize when they move, but, in actuality, many (46%) are looking for nicer homes and more space, not less. Many even plan to increase spending on housing.
Dream Home Delayed: Upsizing
“Upsizers” are those looking for a larger home or looking to spend more for a home the same size as they have currently — finally looking to purchase their dream home. Many in this group will move from renting to owning, but they are not necessarily looking to spend lavishly; the median price of their next home will be $180,000, less than the $200,000 of the more affluent “Downsizers.”
Post-Dream Home: Downsizing
“Downsizers” are those either looking for a smaller home or to spend less for a home the same size as they have currently. These Boomers are more affluent, on average, and many are currently living in larger, more expensive homes that will be difficult to maintain as they age. But they are not necessarily looking to settle. Many will seek homes with high-end finishes and nearby services and amenities.
Staying Close to Home
When Baby Boomers do move, only one-third will move out of state, with the lure of “wanting to be closer to family” being just as strong as a “change of climate.” Indeed, more than half of Boomers will move within 30 miles of their current home. Further, only one in five Boomer movers wants to relocate to senior-related housing or active adult communities. For many, maintaining a connection to their communities and families is an important consideration as they decide where to live.
Single-Family & Single-Story
While some Baby Boomers will downsize to multifamily homes or rentals, most movers will seek out single-family homes, similar to what they have now. But one important difference is that Boomers, whether they are upsizing or downsizing, overwhelmingly want single-story homes. And 69% of Boomer movers want a yard or garden.
Not Afraid of Debt
Baby Boomers are carrying much more mortgage debt than earlier generations did at this life stage. The median outstanding mortgage balance for a 50- to 69-year-old household has grown 142% since 1992. But this fact has not discouraged many Boomers. When they purchase their next homes, more than half will seek mortgage financing. And most are confident in their ability to qualify.
The implications of these findings are important for a range of consumer-facing industries and policies.

By: Jeremy Burbank, www.demandinstitute.org

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

Some Thoughts On Thanksgiving

Posted by Joel pate in Uncategorized. Tagged:

Make it a habit to tell people “thank you.” To express your appreciation sincerely and without the expectation of anything in return. Truly appreciate those around you, and you’ll soon find many others around you. Truly appreciate life, and you’ll find that you have more of it.
Ralph Marston
Gratitude unlocks the fullness of life. It turns what we have into enough, and more. It turns denial into acceptance, chaos to order, confusion to clarity. It can turn a meal into a feast, a house into a home, a stranger into a friend.
Melody Beattie
Be grateful for what you have and stop complaining — it bores everybody else, does you no good, and doesn’t solve any problems.
Zig Ziglar
“Thank you” is the best prayer that anyone could say. I say that one a lot. “Thank you” expresses extreme gratitude, humility, and understanding.
Alice Walker
I’m just thankful for everything, all the blessings in my life, trying to stay that way. I think that’s the best way to start your day and finish your day. It keeps everything in perspective.
Tim Tebow
Feeling gratitude and not expressing it is like wrapping a present and not giving it.
William Arthur Ward
When you rise in the morning, give thanks for the light, for your life, for your strength. Give thanks for your food and for the joy of living. If you see no reason to give thanks, the fault lies in yourself.
Tecumseh
I believe that if you don’t derive a deep sense of purpose from what you do, if you don’t come radiantly alive several times a day, if you don’t feel deeply grateful at the tremendous good fortune that has been bestowed on you, then you are wasting your life. And life is too short to waste.
Srikumar Rao
No one who achieves success does so without acknowledging the help of others. The wise and confident acknowledge this help with gratitude.
Alfred North Whitehead
Appreciation is the highest form of prayer, for it acknowledges the presence of good wherever you shine the light of your thankful thoughts.
Alan Cohen
Gratitude bestows reverence, allowing us to encounter everyday epiphanies, those transcendent moments of awe that change forever how we experience life and the world.
John Milton
When it comes to life the critical thing is whether you take things for granted or take them with gratitude.
Gilbert K. Chesterton
None of us got to where we are alone. Whether the assistance we received was obvious or subtle, acknowledging someone’s help is a big part of understanding the importance of saying thank you.
Harvey Mackay
When you practice gratefulness, there is a sense of respect toward others.
Dalai Lama
Thankfulness is the beginning of gratitude. Gratitude is the completion of thankfulness. Thankfulness may consist merely of words. Gratitude is shown in acts.
Henri Frederic Amiel
When a person doesn’t have gratitude, something is missing in his or her humanity.
Elie Wiesel
Happy Thanksgiving!

By: www.brainyquote.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

Good Advice About Bad Neighbors

Posted by Joel pate in Uncategorized. Tagged:

There’s always a fear that a property you’ve just listed for sale is going to be viewed at a lower value because of surrounding properties and their condition, or because of bad neighbors.
When taking a listing it is important to assess the surrounding neighborhood. Note any potential negatives along the block, such as nearby entertainment venues, bars, railway lines and any noisy neighbors — or those who don’t maintain their homes well. Take a look at how the other homeowners keep their yards; are they in line with the look you would like to see in the property you are selling?
“Generally we try and take the path of least resistance” with sellers’ neighbors, says Adam Bendig of Re/Max Connex Realty in Rockwood, Ont. “It’s nice to knock on the door and say “Hi;” or if there is bad blood with the seller, try to remedy it prior to selling the house. The past issues may be minor, but people often hold grudges longer than they need to.”
Don’t forget to leave business cards and make sure that everyone you meet has a way to get in contact with you if they have any problems. Talk with the seller and make a list of any difficulties they ever had with neighbors, paying attention to what and how things are said. You want to clearly understand what the issues are and how serious or minor they may be. Assume nothing, and always clarify.
“Sometimes it can be a financial issue — if a property doesn’t look up to par it might just be that they’re not capable of taking care of their house and maybe they need help cleaning up their yard,” says Bendig. He suggests offering to help out with cleaning projects as a way to build better relationships between neighbor and seller.
Privacy walls or fences, large plants or temporary decorative items can help make your property sale smoother by accenting the house rather than drawing the eye to other houses or their occupants.
But, what if you are considered the bad neighbor? For instance, what if a neighboring property feels they are being harassed by open houses scheduled during the time they sit down to dinner?
“A gift card can go a long ways toward smoothing things over. We’ve done that with clients as well as neighbors when small issues have arisen,” says Bendig.
Neighbors can be quiet, yet deadly — passive aggressive or prone to blow a fuse for any number of unpredictable reasons. While they are in the minority, head it off at the pass with sympathetic, open communication.
“When you leave notes you just don’t get the same response,” he says. “Show them the courtesy of discussing what’s going on and how you’d like to see things. Explain that you are trying to sell the house,” says Bendig. If you feel tensions are escalating during a conversation with the neighbor, back off and come again another time.
If you think a neighbor is not going to respond well to the seller talking to them, be prepared to step in as a sort of mediator. It takes the personal aspect down a notch because it is now a professional talking to them and not the actual neighbor that they don’t get along with.
Bendig says one of the tools in the sales rep’s kit is being able to show neighbors how what they are doing affects property value. It can benefit the neighbor if they realize others may see their own home as more valuable.
“A lot of people have in their head the worst-case scenario. Nine times out of ten, just talking with people, they are more than willing to work with you.”
Bendig says your last resort is getting local bylaw enforcement officials involved; but if you go that route, “you might stir the pot a little more than you want.”
In the end, your professionalism, coolness under fire and communications skills will likely pave the way for a resolution to most conflicts.

By: Yvonne Dick, www.remonline.com

About Scoreinc.com

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

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

For more details please visit Scoreinc.com

Help For Mortgage Seekers Who Don’t Fit The Mold

Posted by Joel pate in Uncategorized. Tagged:

Those thinking about buying a house, probably know the sobering realities in the mortgage market. Thanks to strict federal rule changes in the wake of the housing bust, it can be tough to qualify for a loan.
That’s especially true if you don’t quite fit the mold — you don’t conform to all the underwriting mandates on credit, income, debt-to-income ratio and other criteria. You can handle the payments, but issues in your application push you outside the box.
New reports last month indicated that an unidentified lender rejected Ben S. Bernanke’s request to refinance the loan on his Washington, D.C., house. Yes, that Ben Bernanke!
But here’s some good news: A small but growing number of lenders have begun offering mortgages with more flexible terms designed for less-standard borrowers. Say you have solid credit scores and money in the bank but because of student loans or uninsured medical bills, your debt-to-income ratio exceeds the maximum that federal rules generally prescribe.
Or maybe you are self-employed and find it difficult to assemble the documentation most lenders require on income — even though one glance at your bank statements would show that you earn enough to qualify. Perhaps you did a short sale on your underwater home a couple of years ago too recently to meet the four-year minimum wait time prescribed by giant investor Fannie Mae before you are allowed to obtain a new mortgage.
These types of borrowers are not alone. Some industry estimates on the numbers of “near-miss” applicants or potential applicants nationwide range well into the millions. To serve them, a new segment of the mortgage market has begun taking shape: “non-Qualified Mortgage” or non-QM lending. Interest rates are higher than the standard market by three-quarters of a percentage point to 1.5 percentage point or more, depending on the lender and the application specifics.
QM refers to the federal Qualified Mortgage rules that are designed to foster safe lending. They ban certain loan features such as negative amortization and interest-only payments; set a 43% ceiling for debt-to-income ratios; and impose a 3% limit on total loan fees, among other requirements.
Lenders jumping into the non-QM space emphasize that they have no interest in funding subprime applicants who lack the ability to repay their mortgages. Skyline Home Loans of Agoura Hills is preparing loan offerings that allow debt ratios of 50% and depart from other QM standards for applicants who have strong compensating factors such as substantial down payment and reserves.
Impac Mortgage Corp., a public company in Irvine, already has begun making loans nationwide — $30 million in the past couple of months — on what it calls “Alternative QM” mortgages to several categories of creditworthy borrowers with special needs:
1) Near-miss buyers. They almost qualify under standard rules, but not quite. Say they have solid credit scores and good jobs, but have a debt-to-income ratio of 49%. They’re likely to have difficulty making it through Fannie Mae’s or Freddie Mac’s underwriting systems, but Impac may fund them after taking a hard look at their bank reserves and assets.
2) Self-employed professionals and business owners. They generally can’t show IRS W-2 forms and may have irregular income flows, complex tax situations and periodically high debt levels. Impac allows them to document their income using 12 months of recent bank statements and to have debt-to-income ratios as high as 50%.
3) Investors with multiple properties. They face significant hurdles when they apply for mortgages. Investors who own 10 or more rental homes or commercial properties and seek to refinance and pull money out are frequently turned down by conventional lenders. Impac evaluates borrowers’ incomes based on the properties’ cash flows and has no limit on total properties owned.
New Penn Financial, based in Plymouth Meeting, Pa., is another early entrant to the non-QM arena. It recently began offering its “Home Buyer Power” loans through retail branches and brokers in 47 states. Brian Simon, chief operating officer, told me the company’s initial target is “prime” credit borrowers who seek high balance mortgages but have debt loads that put them out of reach for most banks.
Bottom line: Those who assume they can’t qualify for a mortgage — because they depart from federal guidelines in some way — need to go shopping. The emerging non-QM mortgage market wants to hear from them.

By: Kenneth R. Harney, www.latimes.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 November 24th

Posted by Joel pate in Uncategorized. Tagged:

Last week we had a marathon of 17 economic reports released. Monday kicked off with November’s New York Empire State Manufacturing index. The index rose to 10.2. Not bad, considering that the previous report came in at 6.2.
Twin reports, industrial production and capacity utilization, both disappointed. Production fell 0.1% from the +0.8% from the prior report, while capacity utilization edged down to 78.9% from 79.2.
When the markets closed, results were mixed, with no big winners or losers. The Dow rose 13.01 points, while the Nasdaq dropped 17.54 points. The S&P 500 edged up 1.50 points. The yield on the 10-year note rose 2 basis points to close at 2.34%.
On Tuesday the producer price index came out, and we actually saw some movement in October. It rose 0.2% from -0.1% in September. The PPI core, which eliminates food and energy prices, also moved up to 0.4% from 0.0%. The final report came from the NAHB; its index jumped to 58 from 54 in October. That was good news.
The stock markets had a good day on Tuesday with the Dow rising 40.07 points, while the Nasdaq was up 31.44 points. Even the S&P 500 added 10.48 points. The yield on the 10-year Treasury note closed down two basis points at 2.32%.
Wednesday was a relatively calm day, as only two reports were published — building permits and housing starts for October. Housing starts fell to an annual rate of 1009K, likely weather-related. This was down from the 1038K starts in September. Building permits had a more impressive result, as they jumped to an annual rate of 1080K — an increase of 49,000 units from September.
There were no expectations regarding Wednesday’s FOMC meeting, but it sounded like it might have gotten a little dicey. The whole idea behind QE2 was to lower interest rates as well as lowering the percentage of unemployed. Low interest rates did perk up the economy, but the unemployment rate has a ways to go, and some FOMC members seem to feel the cut off was premature. Either way, the Fed will make rate hikes in the future — likely beginning in 2015. Wall Street wants to know when, where and how much. Economic data will likely dictate the answers.
At the closing bell on Wednesday it was evident that the economic reports, and the Fed’s minutes, didn’t have much effect on Wall Street, with the exception of Nasdaq. The Dow fell 2.09 points. The Nasdaq took a beating, falling 26.73 points, and the S&P 500 was only down 3.08 points. The yield on the 10-year note rose 4 basis points to close at 2.36%.
Thursday featured seven reports, all close to predictions. First-time jobless claims for the week ended Nov.15 led off at 291K, 2,000 fewer claims than the previous week. Continuing claims fell by 73K to come in at 2330K for the week ended November 8.
Consumer price indices for October followed. The bare-bones CPI dipped to 0% from 0.1% in September. Meanwhile, the core CPI, which eliminates food and gas prices, edged up 0.2% from 0.1% the previous month. Still no inflation worries here!
The next report showed existing home sales jumping to a higher-than-expected annual rate of 5.26M units in October; that’s 80,000 homes sold.
If the Philly Fed Index was like any other report, it would have set the markets on fire. It is an important report concerning manufacturing in the eastern seaboard area, but it’s not in the same class as Chicago, for instance. However, in November the index rose to 40.8 from 20.7. This is a very notable increase which shows that manufacturers are humming along. This is a good sign for the economy.
The final report for the week was leading economic indicators for October. It rose to 0.9% from 0.7%, but it has zero impact on the market.
Nothing earth-shaking happened in the stock markets on Thursday. The Dow closed up 33.27 points, the Nasdaq ended the day up 26.16 points and the S&P 500 moved up 4.03 points.
There were no economic reports issued Friday, but there was news that sent stocks to record highs, again. The feared recession in Japan is now a reality, but a surprise rate cut by China’s central bank, the first in more than two years, sent the European markets up; the U.S. markets followed. European’s Central Bank President Mario Draghi sparked a rally in European stocks by suggesting more aggressive action is coming to fight off deflation. This pleased the traders on Wall Street as all of the indices ended record territory on Friday. The Dow closed the day up by 91.06 points, or +0.51% to hit a new record high of 17,810.06. The Nasdaq gained 11.10 points, and the S&P 500 climbed 10.75 points or .52%. It’s always nice to end the week on a high note. The 10-year closed at 2.32.
Per the MBA, mortgage applications for the week ended November 14 increased by 4.9% after an adjustment was made for the Veteran’s Day holiday. The refinance share of this activity decreased 2% and was reported to be 61% of all applications. The average contract interest rate for 30-year fixed rate mortgages went down 1 point to 4.18% from 4.19%.
Despite the short Thanksgiving week, there are several reports being released. No reports come out today, and tomorrow we have just a few, starting with the second estimate of the Q3 GDP. The markets expect that report to come in at 3.3%, while the briefing forecasters are thinking more along the line of 3.0%. This compares with the 3.5% reported from the prior report issue. Next in line is the Case-Shiller 20 city index for September. The prognosticators are expecting a slight downturn in this number to anywhere between 4.2% and 4.6% compared with the 5.6% that was reported previously. We also get the consumer confidence report, which is looking good right now. The report is expected to show our confidence level rising to 96.0 in November, up from 94.5 from October.
Wednesday we’ll get some reports that normally come out on Thursday, in addition to Wednesday’s reports. We’ll start the day with the initial and the continuing jobless claims reports. Initial claims are expected to go down, a result of temporary employment during the holiday shopping season. It is anticipated that initial claims will be at 285K for the week ended November 22, down from the 291K the week before. Continuing claims may go up to 2350K for the week ended on November 15, compared to the 2330K the week prior.
The durable orders report for October is next. A 0.7% decrease is expected. This follows a 1.3% decrease in September, so it’s a little bit better. The durable goods ex-transportation report follows and is expected to show an increase to 0.3%, which is better than the -0.2% decrease from the previous report.
The personal income report for October looks like we might be making a little more money. The forecasters are predicting this number to rise between 0.4% and 0.5%, compared to 0.2% from the prior statement. Personal spending is also predicted to be on the upswing, showing that we might be spending as much as 3% more in October.
The Chicago PMI report comes out next and covers November. This report might be a little less than the previous report, coming in around 65.0 compared with the 66.2.
Continuing on Wednesday, the final University of Michigan sentiment report for November is released. Only minor changes are expected, as the report might come in at 90.5 versus the 89.4 on the previous report.
The next announcement is on new home sales for October. There’s a huge discrepancy in predictions from the “experts.” The markets are anticipating an increase to 469K over the 467K from September, while the briefing forecasters are predicting a major decrease to 450K new homes sold. It’ll be interesting to see the actual result here. Pending home sales also demonstrate another discrepancy between forecasters. The markets would like to see pending home sales up by 0.8% while the briefing guys are thinking more like 0.5%. Still, these numbers are an improvement from the 0.3% last reported.
We want to wish all of you a Happy Thanksgiving. Be safe!

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

MM Recap for November 17th

Posted by Joel pate in Uncategorized. Tagged:

As expected, stocks got off to a slow start last Monday, as it was sandwiched between a Sunday and Veterans’ Day. In addition, no reports were released, so market movement was slight. However, by the time the closing bell rang, each of the indices had managed a gain. The Dow added 39.81 points, the Nasdaq was up 19.08 points and the S&P 500 rose 6.34 points. The yield on the 10-year note, which moves inversely to price, rose by 6 basis points to close at 2.38%.
Tuesday the markets and most financial institutions were closed to honor those special men and women who are serving or have served in the military. In addition to the markets being closed, there were no economic reports.
Wednesday was not a news-filled day either. The only report showed wholesale inventories rose 0.3% in September, down from 0.6% the previous month. It was a sleepy day for the stock markets with the Dow closing down 2.70 points, the Nasdaq rising 14.58 points, and the S&P 500 dipping 1.43 points. The 10-year yield dropped one basis point to close at 2.37%.
On Thursday we got the reports on initial and continuing jobless claims. Surprisingly, considering all of the employers hiring for the holiday season, initial claims for the week ended on November 8 were up by 12K, coming in at 290K versus 278K from the week before. Continuing claims were also up for that week, registering 2392K compared with 2356K from the previous report. When the closing bell rang, the Dow was up 40.59 points. The Nasdaq rose 5.01 points, and the S&P 500 went up by 1.08 points. The 10-year Treasury yield went down a couple of points to close the day at 2.35%.
There were a number of interesting reports last Friday beginning with retail sales for October. The good news is that retail sales were on the positive side of the balance sheet, showing a 0.3% gain, compared with a 0.3% loss from the previous report. Retail sales excluding autos were also up by 0.3%, a nice change from the 0.0% reported from the month before. The Michigan sentiment report for November, so far, seems to indicate that things are improving. The report came in at 89.4, which is a nice jump from the 86.9 number from the prior announcement. Business inventories for September showed an increase in available product, possibly due to the seasonal gearing up for holiday sales. Inventories were up 0.3%, as compared with only 0.1% reported in August.
The stock markets, however, didn’t have any major reactions to these reports. The Dow finished down 18.05 points. It currently stands at 17,634.74. Will it hit the 18,000 mark by year’s end? The Nasdaq was up slightly on Friday, showing a gain of 8.40 points, and the S&P 500 rose 0.49 points. The 10-year yield finished the week down a few basis points to close at 2.32%.
Per the Mortgage Bankers Association, for the week ended November 7 applications were down from the previous week by 0.9%. The refinance share remained the same at 63% of total applications. ARM applications decreased to 7.1%, which was the lowest level since January of this year. The average contract rate for conventional 30-year fixed rate loans increased to 4.19% from 4.17%.
This week looks pretty active, as there are a lot of reports to be released.
Today’s reports include the Empire Manufacturing, industrial production, and the capacity utilization numbers. The Empire State manufacturing is looking very favorable as the analysts are predicting the report to come in at 12.0, compared with 6.2 from the previous report.
Industrial production for October, which measures the manufacture of larger industrial machinery, has a little bit of a spread among the analysts. The market expects a 0.2% increase, while the briefing forecasters are being more conservative, expecting 0.0% change. The last report showed an increase of 1.0%.
The predictive numbers for capacity utilization, which measures industrial output compared to actual total capacity, might be down slightly from the prior report. The previous report showed capacity utilization at 79.3%. The markets are expecting no change, while the forecasters are predicting approximately a 0.1% change, down to 79.2%
Tomorrow the PPI and the Core PPI reports are released for the month of October. Both the markets and the forecasters are predicting a slight decrease from between -0.1% to -0.2%. The Core PPI doesn’t look much different either, as there might be a 0.1% increase over the 0.0% for the prior report.
On Wednesday the figures for housing starts and building permits for October will be published. There’s a big difference of opinions on the housing start numbers. The markets expect numbers to reach 1025K. The forecasters are only predicting 1000K. This compares to the actual number of 1017K reported for September.
On the other hand, building permits may come in with better numbers, with the market analysts betting on 1040K new permits and the briefing forecasters being even more optimistic, predicting 1050K. This is looking good compared to 1031K from the previous month.
And finally on Wednesday we get the FOMC minutes from their most recent meeting. Probably nothing earth-shaking to report, but we’ll see how the markets react. Typically, stocks will be down in the morning, with the traders fearing “gloom and doom.” And then the stocks usually recover in the afternoon, after the Feds tells us that we are nowhere near an economic apocalypse.
Thursday we get the reports on initial unemployment claims for the week ended on November 15, and continuing unemployment claims for the week ended on November 8. Initial claims are expected to go down from 290K to 285K. This could be the result of seasonal hiring for the holidays. Continuing claims are also expected to improve, going down to 2375K from 2392K. It would be nice if these numbers sustained after the holidays, as this would indicate an improvement in the overall economy.
More reports for Thursday include the CPI (Consumer Price Index) and the core CPI for October. The CPI might drop a bit with analysts predicting anywhere from a 0.1% to 0.2% decrease from the previous report of 0.1%. The core CPI is showing no signs of any change from the 0.1% reported previously.
Existing home sales for October might take a hit, and there is some disagreement between the market analysts and the briefing analysts. The markets expect no change from the 5.17M existing home sales from the prior report, while the briefing guys are predicting existing home sales to retreat to 5.10M.
On Thursday the report on the leading economic indicators for October will be released.
Either there are no reports coming out on Friday, or the people who put together the economic calendar left the office early — or forgot to include any reports due to be released.
Stay warm, and have a good week.

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

Don’t Go Into Winter With A Low Listing Inventory

Posted by Joel pate in Uncategorized. Tagged:

I am afraid that a lack of holiday listings will make it ugly for you in February. But you still have a few months to increase your inventory; so even if you hate seller lead generation — it’s only for a few months! And it’s well worth it.
Here is a list of what I would do if I wanted more listings in the last quarter of the year. Below you will find a list of twenty listing-orientated activities. Choose ten of them and implement them right away. If you do, you will see results — and you should have a happy and profitable start to 2015.
1. Call the more expensive expired listings every morning. Get some help from Landvoice at https://www.landvoicedata.com. Landvoice provides a service so you don’t have to research the phone numbers.
2. Call all the homes, condos, and small multi-unit properties for rent in the weekend paper and/or Craig’s List. Ask if they might consider selling or doing a 1031. Unless it’s a multi-unit, it’s a 100% vacancy factor! So the owner should be motivated.
3. Have forms for sellers to complete on your website like a free 48-hour phone value analysis or a buyer-matching database.
4. Email/call/mail everyone in your database with at least 5 valuable services that you can perform for them.
5. Re-call all listing leads and let them know that the most motivated buyers come out in the winter when other sellers hibernate.
6. Send a compelling FSBO letter to all FSBOs every week until the end of year. Have your favorite team lender call them with help on financing plans that can be advertised and pre-approval of all potential buyers. Have your lender use your name, of course, in the conversation.
7. Send out just sold and just listed cards and call behind them. Get the Cole Realty Resource to help. Visit http://www.colerealtyresource.com.
8. Get the newspaper and cut out positive articles that are relative to some of your area “movers and shakers.” Add these individuals to your database, too. They won’t forget you.
9. Hold a good open house — good area and a new listing. Ask if each attendee is a buyer or seller and provide free value for them.
10. Call the HR manager at the big companies in your area. Give potential sellers who work at those companies the estimates of value, based on the same comparables that appraisers use.
11. Call assisted living centers and take the tour. Ask who they use to sell the homes of their incoming clients.
12. Mail and follow-up call all of the divorce attorneys. Offer fast valuations and a written, aggressive marketing plan for their clients’ homes.
13. Mail all divorcing couples with the problem of a quitclaim/grant deed and underlying loans.
14. Send an “I have investors” letter to poorly maintained properties in better neighborhoods.
15. Send a letter to owners of 2-4 unit properties about their value because of preferential financing, 1031s, and your management expertise.
16. Send a letter to older expireds and FSBOs long after other agents in your market have ceased soliciting. Follow up with a phone call.
17. Provide ten services to out-of-state owners. Offer things like state-specific rental agreements, vendor suggestions, management company referrals, 1031 accommodators, etc.
18. Work on friending/connecting/following your database via social media outlets, and spending a few minutes a day entering any conversations into your database.
19. Have forms for sellers to fill out on your website.
20. Call all the clients (“orphans”) who used to belong to agents in your company who left the business. Let these clients know that the broker has asked you to be their new representative at the office.
It is all a matter of designing the above suggestions into systems and time-blocking them as the most important activities of your day. You will never have had a better first quarter!

By: Walter Sanford, www.waltersanford.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 Estates Regrets: 80 Percent Of Homebuyers Wants A Do-Over

Posted by Joel pate in Uncategorized. Tagged:

Every house-hunter has a wish list, and every homeowner probably has a “wish I researched” list. In fact, 80 percent of homebuyers have at least one major regret about their new home, according to a recent HSH.com survey of 2,000 U.S. adults at least 25 years old. Only 20 percent of respondents said they had no regrets about their home.
Among the most common regrets: Nearly 16 percent said their home was too small. More than 9 percent said their home didn’t have enough storage or closet space. Smaller percentages weren’t happy with their neighbors or school system or felt their home had too few bathrooms, a too-small yard, not enough natural light or too-high maintenance costs. Fewer than 3 percent said their home was too big.
Most people know they’ll have to give up something they want, says Bunni Longwell, a Realtor at Keller Williams Realty St Pete in St. Petersburg, Florida. “Everybody’s wish list is ‘I want a pool, I want 2,500 square feet, I want to be on the waterfront and I want to pay $100,000.’ If we can’t find all those things, what would you sacrifice?” Longwell says.
The few buyers who seemed to get everything they wanted apparently were willing and able to pay more to achieve that goal. Rather than sacrifice any major item on their list, they’re willing “to come up on their price if 98 percent of their wish list is covered,” Longwell says.
Future needs
Buyers’ regrets don’t always surface right away, adds Jake Russell, a Realtor with Keller Williams Realty in Waco, Texas. Only later do buyers figure out their once-adequate home is too large or too small for their family, which might include an aging parent moving in or an adult child moving out. “People don’t think about what they’ll need three or five years down the road,” Russell says. Other issues come up, too. “People don’t buy a master bath with enough amenities or a kitchen with enough storage. Those are the type of thing that, until you live in a home, you don’t realize,” Russell says.
Daily regrets
For some buyers, regrets are just a minor annoyance. For others, however, they’re a significant irritation. Nearly 36 percent of survey respondents who expressed regrets said they thought about their disappointment only occasionally. But more than 37 percent thought about their regret frequently, and almost 22 percent thought about it every day.
Buyers can avoid some regrets by spending more time inside for-sale homes, says Ken Pozek, a Realtor with Keller Williams Realty in Northville, Michigan. “You can only see so much online. You have to touch it and feel it,” he says.
Research matters
Buyers’ regrets typically weren’t directly due to inadequate research. Yet in some cases, more research might have helped. More than 60 percent of survey respondents said they researched local schools, property taxes, commuting distances, home insurance costs or characteristics of neighborhoods or neighbors. But large proportions admitted they’d overlooked factors they later wished they’d reviewed more carefully, though 10-14 percent said one or more issues wasn’t relevant to their situation.
The HSH.com survey found:
25 percent of homebuyers wished they had researched their new neighborhood or neighbors.
22 percent wished they’d researched homeowner insurance costs.
More than 20 percent wished they’d researched property taxes.
14 percent wished they’d researched local schools.
Resale regrets
Almost 47 percent of survey respondents said they’d researched sex offender registries. But another 30 percent said they didn’t research that information and later wished they had.
While that information might not seem immediately relevant — 23 percent of the buyers said it didn’t apply to them — it can become be important later on.
“It’s a terrible thing for a child predator to be in your neighborhood,” Russell says. “If you have kids, it’s beyond terrible. Some people are at a time in their life when it’s bad, but (they decide to purchase the home anyway). When they want to sell, everyone who wants to buy has kids, so it’s no deal.”
Local factors
Homeowners also manage to overlook research related to specific local concerns. Longwell cites flood insurance as an example. “In Florida, we have homeowner insurance and flood insurance,” she explains. “That’s completely off the radar when buyers look at areas. They’ve done research. They know where they want to live. Then the Realtor tells them they have to add $150 a month for flood insurance, and they say they never thought of that.”

By: Marcie Geffner, 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