So a few days after a 2 week vacation I went to my nutritionist. On the scale only 1 lb up! That’s not so bad, considering the cruise ship had chocolate sushi and self serve chocolate yogurt cones! It must have been the exercise I did sprinting after a toddler the whole time. But then…..the nutritionist pulled out those clipper things! Oh how I hate this part…….and my actual body fat percent went up 3%, that’s like 4.5 lbs. The scale sure is deceiving.


Talking about deceiving, how about those preapproval letters? In a succinct paragraph, we are supposed to make a seller feel comfortable that this loan will fly? I am confident that the letters I release are, but I’m not the only lender in town. What do other people do? I was recently having breakfast with 2 of my top referring realtors, and BOTH had transactions that were denied the day before closing because of last minute issues. It can happen, but it should be rare if the lender had only asked the right questions and been more thorough on the front end (in these cases). So their worry is ‘How do we protect ourselves and our buyers/ sellers from this happening?’


So now I have a confession to make. I have been sitting on a checklist for some time. It’s not that I did not want to release it, I just lost focus. So here it is, better late than never. Its long…beware. But these are questions that you or an assistant can ask in 10 minutes time. If you get resistance from a lender, then you know how the rest of the transaction is going to be. You can alert your seller early, or as the buyer agent, be sure they get to a lender that has no problem answering these questions. Their earnest money is at risk! The kudos for this list should not go to me, but one of your fellow realtors, Betty Bezemer. She is a top notch professional, and she put the sweat and tears into this list, and I just tweaked and rearranged it. Deleted some things that lenders really cannot answer.


So here is a sample SCRIPT of how you could initiate this phone call (or have the script for an assistant to do it). You will get some lenders not wanting to answer some questions. Some of the questions are really specific. But they can be answered. Believe me, I scrubbed this list thoroughly. A lender who is on top of it, has nothing to hide, and would be happy to brag that fact to you!


Hello, this is ________ with xyz real estate, I am the listing agent for 123 Home St. You are doing the loan for the Smith’s, is that correct? I would like to follow up on the pre approval letter that you provided, and several questions regarding your company’s process, and the timeline for this loan, do you have 5 minutes we can spend? Thank you. ….Then start right with number one! Take notes!


My hope is that you implement this list TODAY, and that the integrity of the way lenders approach the transaction becomes more solid and predictable. And last but not least, your transactions do NOT fall through the cracks.


Enjoy the weekend!




  RATES as of July 27, 2012 (UNCHANGED for the week)


The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets


Conforming ($200,000* - $417,000)


10 year (fixed) 2.750% APR 3.064% 
15 year (fixed) 2.750% APR 2.965%
30 year (fixed) 3.375% APR 3.496%
5/1 ARM 2.375% APR 3.104%
7/1 ARM 2.500% APR 3.058%


FHA/VA Call for quote (max loan $270,000)




Jumbo ($417,001- $1,000,000*)


15 year ( fixed ) 3.375% APR 3.569%
30 year ( fixed ) 3.875% APR 3.986%
5/1 ARM 2.750% APR 3.220%
7/1 ARM 3.000% APR 3.272% 
10/1 ARM 3.250% APR 3.380%


  We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.


Call for details!

I hope everyone is doing well. I am enjoying this extra time with my family in Alaska. I have one more vacation week left and I am savoring every minute of it. My team is here for you! New clients should call Diana, 713.337.8409. She takes basic information, and gets that to Kenny, who can pre-qualify on the spot. Then for a pre-approval, we will bring them in the office with paperwork, and they can leave with a letter! Have a wonderful weekend! RATES as of July 20, 2012 (DOWN for the week) The following assumptions apply: • 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details) • 1% Origination Fee • Escrows Required (if no escrow, higher fees may apply) • Purchase Transactions, Primary Residence (Refinances have different rates) • 30 day closing • Credit Score 740 + • Debt to income ratio <=40% • Full Documentation of Income/Assets Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*) 10 year (fixed) 2.750% APR 3.064% 15 year ( fixed ) 3.375% APR 3.569% 15 year (fixed) 2.750% APR 2.965% 30 year ( fixed ) 3.875% APR 3.986% 30 year (fixed) 3.375% APR 3.496% 7/1 ARM 2.500% APR 3.058% 5/1 ARM 2.750% APR 3.223% 7/1 ARM 3.000% APR 3.275% 5/1 ARM 2.350% APR 3.106% 10/1 ARM 3.250% APR 3.382% FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.000% APR 2.843% We do originate loans below $200,000. These amounts are chosen to show the most favorable rates. For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote. Call for details! If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them! Jennifer Hernandez & Team Kenny, Brianna, Diana, and Jason Patriot Bank Mortgage NMLS# 514497 Office: 713-337-8400 E-mail: jennifer@patriotbankusa.com Website: www.applywithpatriot.com

May 25, 2012

A new client just came in with her little 2 month old Yorkshire puppy! He was black, and cuddly and adorable! Oh gosh, I may have to get one of those for my little boys…. Rates have remained in ‘check’ with slow global economic growth (including China and Brazil) as well as the continuing troubles in Europe, especially Greece. This helps reduce inflationary pressures, which further increases the demand for ‘safe’ assets (mortgage long term bonds), and helps rates stay low. Please have a safe and relaxing Memorial Day weekend! RATES as of May 25, 2012 (UNCHANGED for the week) The following assumptions apply: • 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details) • 1% Origination Fee • Escrows Required (if no escrow, higher fees may apply) • Purchase Transactions, Primary Residence (Refinances have different rates) • 30 day closing • Credit Score 740 + • Debt to income ratio <=40% • Full Documentation of Income/Assets Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*) 10 year (fixed) 2.750% APR 3.064% 15 year ( fixed ) 3.500% APR 3.695% 15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.250% APR 4.363% 30 year (fixed) 3.750% APR 3.874% 7/1 ARM 2.875% APR 3.233% 5/1 ARM 2.875% APR 3.270% 7/1 ARM 3.125% APR 3.335% 5/1 ARM 2.750% APR 3.239% 10/1 ARM 3.500% APR 3.538% FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.000% APR 2.843% We do originate loans below $200,000. These amounts are chosen to show the most favorable rates. For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote. Call for details! If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them! Jennifer Hernandez & Team Kenny, Brianna, Diana, Jason, and Jose Patriot Bank Mortgage NMLS# 514497 Office: 713-337-8400 E-mail: jennifer@patriotbankusa.com Website: www.applywithpatriot.com

May 11, 2012

This week’s blog is short! Rates are great….we are quoting 30 Fixed Jumbo’s in the low 4’s! Who would have ever thought? This is THE TIME for your buyers to purchase a home. Thanks for your business, and we love being your lender of choice! If you have not referred us yet, WE WANT TO BE YOUR LENDER! Here is what you can expect from my team: • Closings in 30 days or less (40 days for Jumbo) • Weekly status updates (every Tuesday) until closing • HUD for review a minimum of 24 hours before closing • FAST fundings ! Our average funding time is 20 minutes once all parties have signed. Enjoy the weekend! RATES as of May 11, 2012 (UP for the week) The following assumptions apply: • 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details) • 1% Origination Fee • Escrows Required (if no escrow, higher fees may apply) • Purchase Transactions, Primary Residence (Refinances have different rates) • 30 day closing • Credit Score 740 + • Debt to income ratio <=40% • Full Documentation of Income/Assets Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*) 10 year (fixed) 2.750% APR 3.064% 15 year ( fixed ) 3.500% APR 3.695% 15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.250% APR 4.363% 30 year (fixed) 3.750% APR 3.874% 7/1 ARM 2.875% APR 3.225% 5/1 ARM 2.75% APR 3.213% 7/1 ARM 3.000% APR 3.269% 5/1 ARM 2.750% APR 3.230% 10/1 ARM 3.500% APR 3.532% FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.000% APR 2.925% We do originate loans below $200,000. These amounts are chosen to show the most favorable rates. For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote. Call for details! If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!

April 20, 2012

Many of you have asked me how my son’s Fundraiser Gala went (that I was the Chair of), we raised NET $65,000! We made history for the little school of 170 students. I like breaking records! We are breaking records with our realtor referrals as well! Since the beginning of the year, our leads are up 50%, so that means the prospective buyers are OUT THERE! To help handle all our client calls, we added a new team member last week: Diana Smith! She takes the initial information from borrowers, and schedules an appointment with me so we can do the pre -approval on the spot! Our clients leave the office with a letter in hand! In the markets, the S&P ended higher at the close today, with positive corporate earnings in the news. There are rumors of rates increasing by the end of the summer, due to 3rd Quarter Quantitative Easing http://en.wikipedia.org/wiki/Quantitative_easing . For the time being, we are enjoying these rates! Appraisers, underwriters, and lenders in general are all pushing the limit on capacity. We are at 30 days closing (we were at 21), but trying furiously every day to get that down. We are still well below our industry average. Let us help you! Enjoy the weekend, rain and all. It’s a good time to clean out closets maybe? Or just enjoy the kiddos, doing nothing. RATES as of April 20, 2012 (DOWN for the week) The following assumptions apply: • 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details) • 1% Origination Fee • Escrows Required (if no escrow, higher fees may apply) • Purchase Transactions, Primary Residence (Refinances have different rates) • 30 day closing • Credit Score 740 + • Debt to income ratio <=40% • Full Documentation of Income/Assets Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*) 10 year (fixed) 3.000% APR 3.315% 15 year ( fixed ) 3.625% APR 3.821% 15 year (fixed) 3.125% APR 3.343% 30 year ( fixed ) 4.250% APR 4.363% 30 year (fixed) 3.875% APR 4.000% 7/1 ARM 2.875% APR 3.222% 5/1 ARM 2.875% APR 3.257% 7/1 ARM 3.125% APR 3.325% 5/1 ARM 2.625% APR 3.183% 10/1 ARM 3.625% APR 3.608% FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.051% We do originate loans below $200,000. These amounts are chosen to show the most favorable rates. For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote. Call for details! If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them! Jennifer Hernandez & Team Kenny, Brianna, Diana, Jason, and Jose Patriot Bank Mortgage NMLS# 514497 Office: 713-337-8400 E-mail: jennifer@patriotbankusa.com Website: www.applywithpatriot.com To opt out hit Reply and put Unsubscribe in the subject. Information provided in this e-mail is intended as a tool for Real Estate Agents to be informed of the approximate rates available for home mortgages. It is intended for their sole use and purpose only and is not for distribution to the general public. Depending on the borrower's actual circumstances, such as credit, debt ratios, etc., rates may vary. Special niche products may also be available.

This time I am getting to the point! Weak data about employment helped the interest rates this week (remember, bonds like bad news, as investors pull money out of stocks, into safe haven of bonds, which pushes prices up due to demand, and yields down). The Unemployment rate dropped, yes, but it was largely due to people leaving the labor force rather than finding jobs.

We are still seeing lots of applications, and many multiple offers. Keep in mind that we turn pre-approval letters around within the hour that clients bring us paperwork. We are here to give you quick answers! Oh, and by the way, a national NBC correspondent on the news this morning said that closings are taking an average of 60 days- not with Patriot Bank Mortgage it’s not. We are currently on a 30 day turn time for Conventional/FHA loans, and with Jumbos, 45 days.

Have a glorious weekend!


RATES as of April 13, 2012 (UNCHANGED for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 3.000% APR 3.315% 15 year ( fixed ) 3.625% APR 3.821%
15 year (fixed) 3.125% APR 3.343% 30 year ( fixed ) 4.250% APR 4.363%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 2.875% APR 3.222% 5/1 ARM 3.000% APR 3.301%
7/1 ARM 3.250% APR 3.383%
5/1 ARM 2.625% APR 3.183% 10/1 ARM 3.750% APR 3.686%

FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.051%









We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!


If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!

Jennifer Hernandez & Team
Kenny, Brianna, Diana, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497

April 6

Given my prior year track record, my mother started ‘coaching’ me about the importance of a child’s Easter basket (with grass), 7 days ago. It’s just never been on my radar ok? But now with 2 kids, I am under enormous pressure to keep this tradition going. Ok Mom, just know that I got the grass today (well my assistant did). The Easter Bunny is coming to see your babies. They will even get the chocolate bunny.

Just as important as the tradition and structure of a basic holiday basket, so is the importance of structure and repetition with our mortgage clients. This week, in fact, we updated our checklists so that once clients make application, they know EXACTLY what to expect. Another part of our structure is to update our borrowers and realtors under contract EVERY Tuesday. This lets everyone know we are on track, and alleviates anxiety for everyone! These are just a few of the many benefits of using the Hernandez Team!

In the markets……we are seeing unemployment numbers fall, and job growth slowly rise – which is great for the economy. It’s also positive for stocks (as investors have more confidence in company profits). On the other hand, this week there were recurring worries about Europe, as Spain’s debt auction was weak, meaning there is not much interest in financing their debt. There is worry they could be the next Greece. So the bottom line here is: VOLATILITY.

So why are rates not falling fast you ask? VOLATILITY. That word again! You see, Mortgage Backed Securities (MBS) are ‘similar’ to Treasuries, but really not exactly the same. They are both ‘fixed income’ assets, yes. But mortgage lenders are slow to give back gains in volatile environments because there is increased cost of doing business. One example is that they have to worry about borrowers leaving them for lower rates somewhere else. So many mortgage lenders are slow to drop, so they can retain some profits, on an already hedged pipeline. There is also fear to jump on lower rates too quickly, if there is a sharp rise again, they could lose as well. It’s a very fine art, let me tell you. The takeaway here though, is that there is a lot of volatility, and your borrowers should lock in once under contract. Floating to ‘wait’ for that perfect rate is probably not a smart move.

Have a glorious weekend!

RATES as of April 6, 2012 (UNCHANGED for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.625% APR 3.607%
15 year (fixed) 3.125% APR 3.343% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 2.875% APR 3.694% 5/1 ARM 3.000% APR 3.302%
7/1 ARM 3.250% APR 3.384%
5/1 ARM 2.750% APR 3.228% 10/1 ARM 3.875% APR 3.765%

FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.051%









We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!


If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!

March 30, 2012

Just rates today friends. I promise that after my fundraiser Gala, which is tomorrow…I will have the brain cells back to write some informative content. The last 6 weeks has been a blur, and apologize for my less than informative newsletters!

Enjoy the weekend, Jen



RATES as of March 30, 2012 (DOWN for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.198% 15 year ( fixed ) 3.750% APR 3.946%
15 year (fixed) 3.250% APR 3.468% 30 year ( fixed ) 4.500% APR 4.615%
30 year (fixed) 4.000% APR 4.126%
7/1 ARM 3.000% APR 3.278% 5/1 ARM 3.000% APR 3.229%
7/1 ARM 3.250% APR 3.381%
5/1 ARM 2.750% APR 3.224% 10/1 ARM 3.625% APR 3.607%

FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.212%









We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!


If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!

Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497

Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com

To opt out hit Reply and put Unsubscribe in the subject.



Information provided in this e-mail is intended as a tool for Real Estate Agents to be informed of the approximate rates available for home mortgages. It is intended for their sole use and purpose only and is not for distribution to the general public. Depending on the borrower's actual circumstances, such as credit, debt ratios, etc., rates may vary. Special niche products may also be available.

"Mommy, we are going to have two more babies, Austin, a boy, and Annie, a girl"...Mommy's response? "Well Diego, Mommy is 41, and tired, and the factory is closed". Diego replies, "What is a factory?"...........

Some borrowers think that the lending "factories" are closed. That is not the case. There is ALOT of money to lend. You just have to have good credit, prove 2 years of income for no more than a 45% total debt to income ratio, and have seasoned funds in the bank. That does not sound hard, but for some it is impossible. So we work through it. Case by case. So as I say every week, and I will keep saying it, GET YOUR BORROWERS (and SELLERS) TO US EARLY...so we can get a game plan that will work.

What is going on with FHA? As of April 1, the premiums are going up. There is an annual premium currently of 1.00% and that will go to 1.75%. The monthly premium will go up to 1.25% from 1.15%. This equates to $11/month for every $100,000. To some borrowers that could be significant. Why? To raise capital for the program that is close to running out of money. In addition, there are rumors that any and all collections totaling up to $1000 must be paid (currently the number is 0). So that will be a big hit for some borrowers. Also the jury is still out on the closing cost contributions going down to 3%. WE will of course continue to keep you informed.

Rates ticked up this week with news from the FED that the economy is stabilizing. That is all investors needed to hear in order to feel confident to start investing in stocks again. However, a 30 fixed rate in the low 4's is still not bad. Not at all!

Enjoy this weekend! It definitely feels like Spring!



RATES as of March 16, 2012 (UP for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 3.000% APR 3.315% 15 year ( fixed ) 3.875% APR 4.072%
15 year (fixed) 3.250% APR 3.468% 30 year ( fixed ) 4.500% APR 4.615%
30 year (fixed) 4.000% APR 4.126%
7/1 ARM 3.125% APR 3.341% 5/1 ARM 3.000% APR 3.304%
7/1 ARM 3.500% APR 3.503%
5/1 ARM 2.875% APR 3.273% 10/1 ARM 3.875% APR 3.766%

FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.047%









We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!


If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them

March 9, 2012

RATES as of March 9, 2012 (UNCHANGED for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.625% APR 3.846%
15 year (fixed) 3.125% APR 3.343% 30 year ( fixed ) 4.250% APR 4.377%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 3.000% APR 3.283% 5/1 ARM 2.875% APR 3.274%
7/1 ARM 3.250% APR 3.400%
5/1 ARM 2.750% APR 3.230% 10/1 ARM 3.500% APR 3.546%

FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.047%









We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.

For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!


If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!

Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497

Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com

March 2

Did I really accept to job of Gala Chairman for my son’s school? No, no , no..there must be some mistake, right? Well, its March 31st..and I am now wondering what planet I was on that day 8 months ago when I agreed…………Over the weekend I will be writing live auction procedure and volunteer job descriptions.
So what is happening in the markets? Rates are steady, unchanged now for 2 weeks . Houses are getting multiple offers, and agents are knocking on doors to purchase houses not listed for sale (happened to me personally this week). Buyers are out there, as I mentioned last week.
Do you remember a year or so ago I said that FHA wants to lower the seller concession to 3% or $6,000 max? Probably not. Well, the comment period ends March 26. It would reduce the concession, and also, the credit could NOT apply to insurance, hoa fees, or. prepaid interest. If you would like to comment, go to www.regulations.gov . You MUST refer to docket number FR-5572-N-01. This would surely change our industry and force homeowners to wait to buy homes until they save more money.
Enjoy the weekend!


RATES as of March 2, 2012 (UNCHANGED for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.750% APR 3.946%
15 year (fixed) 3.125% APR 3.343% 30 year ( fixed ) 4.250% APR 4.363%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 2.875% APR 3.227% 5/1 ARM 3.000% APR 3.307%
7/1 ARM 3.125% APR 3.330%
5/1 ARM 2.750% APR 3.233% 10/1 ARM 3.750% APR 3.690%

FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.047%

Friday, February 24

Today is an EXTREMELY important day. I was born 41 years ago at 6:30 a.m. My Dad says I was incredibly cute (that’s what Dads are supposed to say!). Hold the birthday wishes…I know you are thinking them!

Let’s talk about rates. They are creeping up a tad. Consumer confidence is up. The stock market is almost at 13,000, home sales are up….the list seems to go on. Rates are still in the low 4’s for a 30 fixed...who can complain about that?

The local Houston market, well, the articles this week all said that inventory is down. That means multiple contracts (and we have already seen them). Buyers that are waiting to offer may be left behind. Be sure they get to the lender EARLY to pre approve. We give them a letter the minute they bring in paperwork and have an interview with me!

Enjoy the weekend! Thank you for your trusted endorsements, and keep them coming.


RATES as of February 24, 2012 (UNCHANGED for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.625% APR 3.821%
15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 4.000% APR 4.125%
7/1 ARM 2.875% APR 3.231% 5/1 ARM 2.875% APR 3.268%
7/1 ARM 3.000% APR 3.276%
5/1 ARM 2.750% APR 3.237% 10/1 ARM 3.750% APR 3.693%

FHA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.047%


We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!


If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!

Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497

Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com

To opt out hit Reply and put Unsubscribe in the subject.



Information provided in this e-mail is intended as a tool for Real Estate Agents to be informed of the approximate rates available for home mortgages. It is intended for their sole use and purpose only and is not for distribution to the general public. Depending on the borrower's actual circumstances, such as credit, debt ratios, etc., rates may vary. Special niche products may also be available.

Friday, February 17, 2012

My dear friends, so sorry to disappoint, but this week’s newsletter will be short and sweet.
Rates are below, and don’t forget to RSVP for our Snack and Learn, Wed, February 22 (if you haven’t already).
Topic: “Till Death Do Us Part”: Being informed of issues that can arise when your buyer/seller is divorcing.
Where: 520 Post Oak Blvd, Ste. 100 (First American Title Conference Center)
Time: 1:00 – 2:30

Stay dry this weekend!


RATES as of February 17, 2012 (UNCHANGED for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.750% APR 3.946%
15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 2.875% APR 3.199% 5/1 ARM 2.875% APR 3.229%
7/1 ARM 3.000% APR 3.243%
5/1 ARM 2.750% APR 3.198% 10/1 ARM 3.750% APR 3.669%

FHA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 2.965%


We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!


If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!

Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497

Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com

To opt out hit Reply and put Unsubscribe in the subject.



Information provided in this e-mail is intended as a tool for Real Estate Agents to be informed of the approximate rates available for home mortgages. It is intended for their sole use and p

Friday, February 10, 2012

In case you have been hanging on edge to hear about my solo trip with a toddler and 6 year old (from last weeks letter)….So the way there, it was a breeze . The way back, let’s just say challenging may not be descriptive enough. Imagine getting a tired, screaming angel to sleep (finally) ½ way through a 4 hour flight, and 25 minutes later the other one has to ‘go’. So I had to wake up the baby, cram the 3 of us into the bathroom that by now every person on the plane had used, and while containing Pablo on one hip/arm…wiping the bottom of the other. In hindsight, I am laughing hysterically…but at the time I was ready for a tranquilizer.
Lending has similar challenges! We face them every day. My greatest challenge this week was explaining to a father wanting to cosign for his daughter that his 2 million dollars in the bank was not good enough, since he does not show the recurring monthly income to repay the loan. That was hard. I would rather have been on the plane with my kids.
The challenges of Greece, and the uncertainty looming whether the country can avoid a debt default, led investors to seek the safe haven of bonds, and mortgage backed securities once again. You will see that helped keep many rates unchanged or lower than last week . Recent reduction in Jobless Claims provides additional evidence the labor market is moving in the right direction.. which eventually could push rates up. But for now, the 30 day horizon looks relatively safe.
Lastly, I am sure you are wondering how the recent Obama plan to help homeowners refinance underwater mortgages or avoid foreclosure will play into the market. In my (personal) opinion it’s too early to tell. Past experience has told me that although it sounds ‘sexy’ in theory, the implementation will be another story. The details will unfold and you will be the first to know.
Enjoy another beautiful weekend!


RATES as of February 10, 2012 (UNCHANGED for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 3.000% APR 3.315% 15 year ( fixed ) 3.750% APR 3.946%
15 year (fixed) 3.125% APR 3.343% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 3.750% APR 3.874%
7/1 ARM 2.875% APR 3.250% 5/1 ARM 2.750% APR 3.246%
7/1 ARM 2.875% APR 3.236%
5/1 ARM 2.750% APR 3.260% 10/1 ARM 3.625% APR 3.628%

FHA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.047%


We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!


If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!

Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497

Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com

Friday, February 3

I have been visualizing for WEEKS how I will handle my 2 kids solo on the airplane this weekend. You see, Diego, 6, is not the issue, he will just play his DS Plants vs. Zombies the entire trip to see Grandma in NJ. It’s the 18 month old, Pablo, that I am worried about. Not only have I bought him his own seat, but should I dare purchase one of those harnesses I see parents put their kids on? Although tempting, I won’t go that far, but this kid is beyond busy. He climbs on tables and furniture for a living. I am loading up on snacks, his favorite DVD’s, and praying he will just take a nap the entire way. Maybe some Benadryl…………………….

Facebook’s IPO is certainly consuming the markets. It’s much more interesting than the Fed Chairman’s talk about monetary easing, low fed funds rates until 2014, and certainly Greece. Who knows where rates will go, that is my answer. Enjoy it now, and yes, your clients should be buying now. Rates are truly lower than ever!!!!!!!

Compliance continues to be a big buzz word for lenders. So this will push up fees to the consumer, slowly but surely, as well as continued tightening of guidelines. Our investors we sell to are consistently hammering us on appraisals, paperwork, and outside the box scenarios. What this translates to is our underwriters, processors, and loan officers have to be thorough and accurate at all times with the client! Be rest assured that our loan team is always training, and perfecting our internal processes so that the transaction remains seamless to the client.

Speaking of team, I would like to commend mine! Brianna and Kenny are my 2 loan partner assistants, which equates to my right and left hand. Brianna takes all incoming lead calls, and helps me pre qualify clients in under an hour! Kenny is ‘contract to close’. He makes sure clients get the lowest rate once under contract, and that we meet deadlines! Nancy helps me with all my scheduling, email, calendar, and basically keeping me on track. They do an excellent job of creating raving fans of our clients, so that they refer us to our friends! And that translates to more referrals for you, the referring agent! We received 5 current client referrals this month, so 5 of our realtors had repeat business due to a positive transaction. I am currently looking to add another loan assistant, so if you know anyone with minimal mortgage experience, please have them contact me.

To find out more about how we can help you sell more houses….call me!

Have a great weekend…and GO GIANTS! (My parents are from Jersey)!


RATES as of February 3, 2012 (DOWN for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 3.000% APR 3.315% 15 year ( fixed ) 3.625% APR 3.821%
15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 2.875% APR 3.243% 5/1 ARM 2.750% APR 3.238%
7/1 ARM 2.875% APR 3.229%
5/1 ARM 2.625% APR 3.208% 10/1 ARM 3.625% APR 3.623%

FHA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.047%


We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!


If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!

Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497

Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com

To opt out hit Reply and put Unsubscribe in the subject.



Information provided in this e-mail is intended as a tool for Real Estate Agents to be informed of the approximate rates available for home mortgages. It is intended for their sole use and purpose only and is not for distribution to the general public. Depending on the borrower's actual circumstances, such as credit, debt ratios, etc., rates may vary. Special niche products may also be available.

Friday, January 27

The very good news is that our phones are ringing off the wall with new buyers! Our leads for January are up 58% (I have not counted refinance calls, only buyers). So that means our realtor friends are BUSY! Yea!!!!!! We are pre approving buyers instantaneously, so let’s say within an hour. Keep your referrals coming, and we are so appreciative! In addition, our closing times are still averaging 21 days. Please be sure to call us and confirm a quick close before the contract is finalized.

In the markets…………
Wednesday’s Fed announcement was favorable for mortgage rates. There were some major surprises in the forecasts, like “economic conditions will allow the fed funds rate to remain at low levels until 2014”. Wow, that is 2 years from now. Secondly, Fed Chief Bernanke suggested that Fed officials would like to see stronger economic growth, and they are open to the possibility of additional Fed easing (aka: the Fed would continue to purchase their own mortgage backed securities).
To sum it all up, for now, the rates are so very nice, and will fuel our economy this year as home sales continue to rise! It’s great to live in Houston TX!
Enjoy your weekend!



RATES as of January 27, 2012 (UNCHANGED for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.625% APR 3.821 %
15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 3.750% APR 3.874%
7/1 ARM 3.000% APR 3.318% 5/1 ARM 2.750% APR 3.259%
7/1 ARM 2.875% APR 3.246%
5/1 ARM 2.750% APR 3.272% 10/1 ARM 3.875% APR 3.792%

FHA call for quote (max loan $270,000) 5/5 ARM 3.000% APR 3.004%


We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!

Friday, January 6, 2012

When a potential buyer or seller ask you WHY they should choose you as their realtor, do you have your ‘Elevator Speech’ ready and memorized? I have a few, depending on who my audience is: ‘We close accurately and on time’, or ‘our average close time is 21 days’, or ‘Our company is large enough to serve you, and small enough to know you’. TAR, November 2011, had a great article about this exact topic. They suggest that your pitch has the following : (a) State your business as a benefit (b) make a connection (c) ask a question (d) Rehearse, but don’t sound rehearsed and (e) shorter is better. Good luck!

Tell your buyers to hurry up and buy. That’s my opinion. Higher rates and home prices might just be here sooner than you think.

Today unemployment numbers were released, showing the addition of 200k jobs (more than expected). We are sitting on 2 quarters of positive job growth, some that our country has not seen in 3 years. Investors are holding onto cash (ex: Apple is rumored to have 800 billion in cash), as well as hedge fund managers, banks, etc. When they start to put those dollars to work in the economy, THAT is when the rates will rise. Jobs will be created, R&D will happen, companies will expand.

In Houston we are already seeing the seeds being planted for growth. The Houston Business Journal (Dec 16-22) cited the largest commercial deals of 2011. Wolff Co purchased an 18 acre tract in the Energy Corridor he has tried to purchase for 30 years. Our hotel occupancy rate was 2nd in the nation, next to Nashville (and double the national average). Exxon is building the new campus in the Woodlands. Shell renewed their lease for 25 years downtown, The Hess Tower sold for the highest price per sq foot in our city’s history……I could keep going. Just read the article! The take away here is growth, growth, and more growth. This will be positive for home sales no matter how you look at it. Even with higher rates, buyers will buy and sellers will sell. They always have!

Currently, the rates are being held low as investors worldwide are investing in US bonds. They are terrified of Europe, and China is the only true stable economy, but……….would you invest your money there? Exactly. So that leaves the U.S. Let’s enjoy it while we can.

Have a fabulous weekend!



RATES as of January 6, 2012 (UNCHANGED for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.750% APR 3.946 %
15 year (fixed) 3.250% APR 3.468% 30 year ( fixed ) 4.500% APR 4.615%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 3.000% APR 3.323% 5/1 ARM 3.000% APR 3.353%
7/1 ARM 3.000% APR 3.310%
5/1 ARM 2.750% APR 3.279% 10/1 ARM 3.875% APR 3.796%

FHA call for quote (max loan $270,000) 5/5 ARM 3.000% APR 3.004%


We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!

December 20, 2011

So what does ‘Auld Lang Syne’ mean anyway? I am apparently one of the 85% of the people polled (by stv.tv- a Scottish broadcasting company) that don’t even have a clue. Did you know that they also polled that 74% of the people (I am assuming Scots were polled) that just mime the lyrics, because they have no idea? So I went to Google. It means literally “for the sake of old times”, and also could be interpreted as “old long ago”, or “old long since”. In the 1700s, when James Watson (1711) and later Robert Burns (1788) released the lyrics, they meant for the meaning to be a remembrance of the last year. Later, the British caught on, and it slowly migrated around the world with the British. In 1939, a Canadian band leader (Guy Lombardo) popularized the song for New Years Eve.

Let us remember the last year, and be grateful! As for myself, personally, I saved 33% of my income, I am 20 pounds lighter, and I competed in 2 triathlons (sprint). We did mourn the loss of 2 loved ones, but that also brought me closer to others, and for that I am grateful. Professionally, for what I am most grateful, is to have supportive friendships in our referral partners, that through their trusted endorsements, we were able to help 216 families purchase a home or refinance this year (up 13% from the year before).

We look forward to strengthening our friendships with you in 2012, and wish you and your family the most prosperous New Year!

Cheers!


RATES as of December 30, 2011 (DOWN for the week)

The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.875% APR 4.072%
15 year (fixed) 3.125% APR 3.343% 30 year ( fixed ) 4.500% APR 4.615%
30 year (fixed) 3.750% APR 3.874%
7/1 ARM 3.000% APR 3.322% 5/1 ARM 3.125% APR 3.369%
7/1 ARM 3.500% APR 3.543%
5/1 ARM 2.750% APR 3.278% 10/1 ARM 3.750% APR 3.717%

FHA call for quote (max loan $270,000) 5/5 ARM 3.250% APR 3.091%


We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!


If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!