(302) 703-0727

(302) 703-0727

Financial News Update – August 24th

John Thomas August 24, 2007 Tags:

Durable Goods Orders soared in July, rising by a far greater than expected rate of 5.9% and scoring their largest gain in about a year.  Transportation goods such as airplanes, autos, and trucks led the surge, but other long-lasting goods like machinery, computers, and steel products also showed strong demand.  When excluding vehicles, Durable Goods increased by a still-strong 3.7%. This report is volatile from month to month, so Bonds didn’t react much on the strong economic news. Keep Reading...

Liquidity and Its Importance in the Mortgage Bond Market

John Thomas August 22, 2007 Tags: ,
In years past a borrower would visit their local Savings & Loan to obtain a mortgage. The Loan Officer at the bank would approve the mortgage and fund it with cash reserves from the vault. This system worked well until the bank ran out of money to lend. Borrowers came to the S&L looking for a loan and were told to come back when a current mortgage was paid off. What the bank needed was a way to sell the loans it made, freeing up the capital to lend to new borrowers. This way they could lend the same money over and over, earning an income from servicing the loans and assisting the community by offering a near limitless pool of money.

  Keep Reading...

Current State of Mortgage Financing…What’s Going On?

John Thomas August 20, 2007

Anyone watching or reading the financial news over the last few weeks has seen a lot of angst and consternation over the state of the mortgage industry. In fact, one of the larger lenders in the US, American Home Mortgage, was forced to shut down operations recently. But why? What is happening, what does all this mean to you and most importantly… what should you be doing do right now to make sure you are protected? Keep Reading...

Delaware Mortgage Loans – Appraisal Basics

John Thomas August 20, 2007 Tags: ,

When you are applying for a Mortgage Loan you will most likely have to get a residential real estate appraisal done by a certified appraiser.  The appraiser will come out to the property to inspect the inside and the outside of the subject property.  The appraiser will take pictures of both the inside and outside of the home.  The appraiser is required to photograph anything that is considered to be a major defect in the property to protect the lender and the borrower. Keep Reading...

Greenpoint Mortgage Shuts Down

John Thomas August 20, 2007

I just heard the news that Capitol One has shut down their mortgage unit, Greenpoint, laying off more than 1900 employees. This is effective immediately. So here we go again; if you have any loans with this company you will need to find another lender. This is yet another casualty in this erratic market and more reason to be committed to a company like Citizens Lending Group.  This will be an unexpected shock too many.  If you need someone who will be there today, tomorrow, and in the future, give me a call at 302-703-0727. Keep Reading...

FREE Real Estate Investment Seminar – September 26, 2007

John Thomas August 19, 2007 Tags:

There will be a Free Real Estate Investment Seminar on Wednesday, September 26, 2007, from 6:30 PM till 8:30 PM at Primary Residential Mortgage’s Office in New Castle, DE.  The seminar is on Getting Started in Real Estate Investing.  The seminar will show you how to set up a plan for investing and how to get your self financially ready to invest, how to gather a power team around you, give you an action plan to buy your first rental property, how to do investing as a business, and how to analyze a property to determine if a good investment. Everybody is welcome but must register in advance because space is limited.  Each participant will receive a Free Audio CD on Real Estate Investing.  Please call 302-703-0727 and ask for John Thomas to register. Keep Reading...