A Good Loan Officer?

Happy Friday ,

What exactly is a 'good' baby? Aren't they all good? I have been taking notice since I now have a new little one, and the FIRST thing people ask is.....Is he a good baby? I would assume the answer is always yes. Is there really a mother that would say no? They're such cute little things.............

How about a good loan officer? Now that is a different story. What makes a good loan officer? Do they give you weekly status updates via call and email each week? Do they return calls and emails promptly (within 2 hours at least)? Or have a team that can help you, even if they are not available? How about on time docs to title (day before closing at a minimum)? Fund within 20 minutes of closing? Get wires to title before closing? Or even attend closing?

These things should be the minimum standard, yet I hear so many agents say they don’t get these things. Especially the attend closing one. Strange. Well, with me, you get all of the above. If you are not referring us to your clients for a mortgage, you are missing out on a truly exceptional experience. And guess what, that makes you look GOOD! And will result in more referrals for us both. It’s a win win!

On another note, why did rates go up and down so much this week? The markets have been all over the place. Consumer sentiment is lower than expected, the Core Price Index is up, and then unemployment numbers came in lower than expected. Up, down, up, down. The net effect is rates are still great!

Fannie Mae released its latest National Housing Survey Results. 47% think that prices will hold steady over the next year. 70% think it’s a good time to buy a house, and 67% still consider real estate a good investment. Access to the detailed podcast can be found on the National Housing Survey page on www.fanniemae.com

According to the NAR 2009 Profile of Homebuyers and Sellers (available on har.com), since 1995 the internet has been useful to 77% of buyers (up from 2%). Printed newspaper ads went from 51% in 1995 to 2% in 2009 (as being useful). Yet, thankfully, their value of a realtor has almost no change, from 86% in 1995 to 81% in 2009. This is good to know! You all work so very hard to keep the local economy churning! Keep up the good work!

Have another great weekend! I am off to San Antonio to brave Fiesta Texas with a 5 year old. Pablo will be in the a/c with his nanny- lucky guy!



RATES as of September 17, 2010 (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*)
30 year (fixed) 4.375% APR 4.504%
30 year ( fixed ) 5.375% APR 5.494%
15 year (fixed) 4.000% APR 4.224%
15 year ( fixed ) 4.750% APR 4.949%
5/1 ARM 3.250% APR 3.331%
7/1 ARM 3.625% APR 3.515%
5/1 ARM 3.250% APR 3.479%
7/1 ARM 3.500% APR 3.574%
10/1 ARM 4.875% APR 4.363%

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




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
Vice President/Mortgage Consultant
Patriot Bank Mortgage

Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Blog: www.loanwithjennifer.blogspot.com