Listen to Our Little Smart App Radio Commercial

Description:
With our new app, Access Loans Chico, you can easily take your mortgage information with you. Enjoy the native iPhone app with enhanced user interface, now on other smart devices through the Android Market. View mortgage and real estate resources, staff profiles, mortgage calculators, social media integration(s), and more. Our Mobile Mortgage app is convenient, informational, and free.

Features:
One Touch Interface – Directions, Call, or Share all by one touch
Resources – Browse Mortgage and Real Estate educational content that will help you with every aspect of a loan
Staff Directory – Engage with your mortgage professional and share contact info
Mortgage Calculators – Calculate payments that fit your budget (Rent vs. Buy, Affordability, Monthly payment, and Refinance – Coming Soon!)
Social Media – Connect by Facebook, Twitter, Linkedin, and Blog
Newsletter – Sign up for Monthly Newsletter for updates, featured loan profucts, and news

Additional Materials

Finding a Home:
These tools will support Realtors and their business, on-the-go as well as their clients. Our home finding features enable us to not only collaborate with agents as well as clients but in a way that can help you be more efficient. Open House Tour Guide – Plot route
Open House Sign-In – Handheld option to capture information
Value Finder – Zillow Home Search by Geo Targeted Location

Refer A Buyer© – Successful realtors are constantly on the road, hosting open houses, meeting with clients, or otherwise occupied with their business. They often don’t have the opportunity to get make a call and get a potential clients information to you in as timely a manner as they’d like. With Access Loans Chico, there is a simple way to send and receive contacts. Our Refer A Buyer feature is perfect for people on-the-go.

Document Checklist – Many first time home buyers don’t know the steps involved when it comes to purchasing a home. Our app provide a simple solution for agents to supply their buyers with a document checklist for pre-approval, one of the first steps a potential buyer should take. Buyers can use our interactive checklist within the app or e-mail the checklist directly from their phone.

APMobile V.1.2

In this first segment, Daniel gives you a detailed laydown for the second installment for the HARP program (HARP 2.0). This refinancing option may help lower your mortgage payments! Remember to stay tuned into our website or social medias to see the upcoming mortgage videos.

What to Subscribe To:

Get Our Twitter Updates
Get Our Blog Blast
Become A Fan On Facebook
Connect With Us On LinkedIn
View our Videos on Youtube

Get our NEW Mortgage/Real Estate Mobile App for FREE

Danny Salas of Access Real Estate Lending in Chico, Ca.
Video Produced by: Alpine – For Access Real Estate Lending 2012.

*This industry changes rapidly and on a daily basis, information after posting may be subject to change.

Listen to Daniel C. Salas’s important new local radio segment on Real Estate Today Radio 1290 AM. Hear why electronically filing your taxes to the IRS could be a big problem if you plan on getting a home loan.

Related Article on Tax Filing

Paradise Relay for Life

Daniel C. Salas is a member of Paradise Rotary, and this year, Rotary has joined a Relay4Life team, “Corral Cancer”, in hopes to bring an end to cancer for its crimes against humanity. So far, Corral Cancer has raised $5,559.97 of a $10,000 goal! The team has some great fun-filled community events to help promote awareness of the event and raise donations leading up to the actual Relay on June 2, 2012 at Paradise High School. Every dollar raised brings us one dollar closer to a cure, and to a world with more birthdays. We hope you can be a part of this great cause in whichever way you like.

Crimes Against Humanity

Cancer is a disease that has affected almost all of you in one way or another, in one form or another. Many are battling it, survived it, or lost a loved one(s) to it. Today, 38.08 (1 in 3) woman are at risk for developing an invasive type of cancer while 44.85% (1 in 2) men are at risk. The American Cancer Society has created Relay4Life, a huge nationwide event that helps raise money for the research, education/awareness, and triumph of cancer. Participants of Relay For Life celebrate loved ones who have won their battle against cancer, remember those who are no longer with us, and fight back against this disease that touches so many.

You may Volunteer, Join, or Donate Here

Or by sending a check made payable to the
‘American Cancer Society’
7054 Skyway, Paradise, CA 95969 – (Rob Anderson, CFP®, Rotarian Team Captain)

Please Follow Corral Cancer for updates on Local Community Events and other information:

First Community Event! Celebrity Dinner

Be Served by Local Celebrities, A Good Meal For a Good Cause.

When: Tuesday March 27th
Time: 4pm – 8pm
Where: Black Bear Diner
5791 Clark Road, Paradise

Donations for Relay4Life will be accepted and 10% of the evening’s proceed will be donated by Black Bear Diner!

For More information and a list of featured Celebrity Servers

What to Subscribe To:

Get Our Twitter Updates
Get Our Blog Blast
Become A Fan On Facebook
Connect With Us On LinkedIn

HUD Announcement: Single Family Mortgage Insurance: Annual and Up-Front Mortgage Insurance Premium – Changes

In December of 2011, Congress voted to temporarily continue the Payroll Tax Cut Extension. The Tax Cut originated in late 2010, when Congress and President Obama passed new tax laws that took effect in 2011 (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010) and gave a 2% cut in Social Security Taxes (from 6.2% to 4.2%) to Americans that made up to $106,800 a year. As a result, most people have benefited from the cut in Social Security taxes (also known as Payroll Taxes), to help families, in a struggling economy. Depending upon how you look at things, like so many other alarming arrangements, in an economy, struggling for existence; there is an alternative cost to pay…and guess who’s paying for it this time…people who need home loans.

The “G-Fee”

That’s right…the government has decided to pay for this tax cut extension by increasing the guaranteed deliver fees, paid to them, for servicing their loans, when banks sell the loans to Fannie Mae, Freddie Mac, and FHA. It’s similar to an insurance policy against credit-related losses, in a Mortgage-Backed Security Portfolio. The negotiated price is .10 Basis Points, an every loan. This price, however, is in rate, not cost. This guaranteed fee is also known as “The G-Fee.” So, if Fannie Mae, Freddie Mac, and FHA have been mandated to increase their “G-Fee’s” by .10 Basis points, yet banks trade interest rates, generally, in 1/8 increments than the consumer will, no-doubt, be holding onto the excess burden, by paying about .125% (or 1/8 of one percent), higher on their interest rates. Generally, one-eighth of one percent, on rate, costs the consumer about .4% Basis Points in cost. However, banks trade interest rates, generally, in intervals of .125% in Cost, as well. So, that .4% Cost will translate into about a half point (.5%) increase in cost, should the consumer chose to pay the cost, up front, as opposed to financing the cost through a higher interest rate.

Might they go up higher?

Possibly! What many don’t understand is that the verbiage on the bill indicates that the .10 Basis Point Increase is the minimum amount of the increase, not maximum. Coupled with the fact that Interest Rates and Costs (or Points) are both described as Basis Points, with the previous explanation of costs of loan increases, you can see how, if the .10 Increase becomes a minimum, than costs could be effected exponentially, as each .10 gets interpreted and rounded up to .125%…

Who Is Effected By This?

Anyone obtaining a home loan from Fannie Mae, Freddie Mac, or FHA. The fee increase has really already started, as any loan delivered to these entities by April 2, 2012, will have to pay the increase in fees. As you can imagine, it takes time to close, package up, and securitize loans for sale to these entities. Nobody wants to be caught, holding the “money” bag, so to speak, so banks are having the consumer pay the fee, now.

How Long Will The “G-Fee” Be In Effect

Currently, plans are to have the delivery fee increased until October 1, 2021. So, like it or not, interest rates are, and have been going up.

Fence Sitters Beware…

Other factors are pulling rates higher, evidenced by this past month’s readings on several economic levels.

Greece

Yes, Greece is back in the news. For the ump-teenth time, Greece is in financial turmoil and unable to pay their debts to the European Union. Several attempts to stabilize this nation have all failed, and this turmoil has helped fuel lower rates in the United States because European investors have fled the EU and moved their finances to the safe-haven of US Treasuries and Mortgage-Backed Securities. However, as a deal gets closer and closer, with a financial plan to get Greece back on track, money will begin to flow out of the United States, and back to Europe, and therefore, the United States will feel an obligation to offer a higher rate of return to investors, and therefore higher interest rates.

Inflation

Inflation is interest rates’ worst nemesis. As the economy continues to show more growth, with fewer jobless claims, lower unemployment rates, Wholesale Prices rising, higher than expected growth at the consumer level and the Core level (taking out volatile food and energy costs), inflation is reaching concerning levels. High enough levels, anyway, to have the Federal Reserve reconsider offering another Q3 stimulus package (the latest rumored to put aside funds to purchase Mortgage-Backed Securities).

Breaking Numerous Levels of Support

Over the past two weeks, we’ve seen interest rates break through numerous levels of support. The 10-Day, 25-Day, and 40-Day, Average Levels of support, have all been broken through. And, this past Friday, February 17, 2012, we rested directly on top of the 50-Day Moving Average. If the deal goes through, with Greece, expect to drop below this level of support, too; pushing interest rates up, again. Hold on tight…we’re in for a fun ride, throughout 2012, as the economy and rates heat up.

What to Subscribe To:

Get Our Twitter Updates
Get Our Blog Blast
Become A Fan On Facebook
Connect With Us On LinkedIn

The Temporary Payroll Tax Cut Continuation Act of 2001 has all investors and lenders going into a pricing tailspin. The response by investors to absorb the initial increase in guarantee fee was uniformly quick, but the impact on pricing and rate sheets is quite diverse because each investor has its own pricing model and structure. This has become clearly evident in our routine comparative analysis of our rates sheets against a select group of lenders. We anticipate that this will continue over the next 30 days as the April 1, 2012 effective date draws near.

Our rate sheet will be no exception to this turbulent trend. We thus encourage all our loan originators to pick up the phone and call Secondary Marketing, if any rate sheet pricing appears to be out of whack, or when a concession may be needed to make deals work.

CAPITAL MARKETS

January 2012
Fannie Mae and Freddie Mac Pricing Changes due to Guarantee Fee Increase

As you probably have gathered from the notices you have recently received from other wholesale lenders, investors have immediately implemented the increase in the Fannie Mae and Freddie Mac guarantee fee. We apologize and wish we could have given you more notice. The following schedule illustrates the timing of guarantee fee increase on 45, 30 and 15 day locks.

45 days                                         1/11/2012
30 days                                         1/18/2012
15 days                                          1/23/2012

In addition, we need to temporarily adjust our lock extension and relock fees. Again, this is temporary until the new guarantee fee is completely absorbed. The following schedule illustrates the cost and timing of the our temporary relock and extension policies;

Prior to 2/10/12 0                                                 0
After 2/10/12 50 bps                                         50 bps

As you will see, our pricing, relock and extension fee changes are consistent and in line with what you will see from other lenders.

The following are some FAQ’s that might help explain this:

Why is this occurring?
As directed by the Federal Housing Finance Agency (FHFA), pursuant to the Temporary Payroll Tax Cut continuation Act of 2001, Fannie Mae and Freddie Mac are required to increase the guarantee fee charged for all mortgages delivered on or after April 1, 2012 by 10 basis points. In the next few months, FHFA will further analyze whether additional guarantee fee increases are appropriate to ensure the new requirements of the law are being met.

What is a guarantee fee?
It is a fee charged by mortgage-backed securities (MBS) providers such as Fannie Mae and Freddie Mac, to lenders for bundling, servicing, selling and reporting MBS to investors. The main component of the guarantee fee is charged to protect against credit-related losses in the mortgage portfolio. Think of it as insurance. Commonly known in the mortgage industry as “g-fee”, this is a deduction in relation to the interest rate.

How does a 10 basis points increase in guarantee fee impact my borrower?
A 10 bp increase in g-fee effectively raises the interest rate to the borrower by 12.5 basis points. A 12.5 bp increase in rate generally translates to a 50 bp increase in fee or a 50 bp reduction in rebate. Since all investors have already implemented this increase in their respective pricing structures, you will be seeing the effect of this increase in the rate sheets published by all lenders.

What to Subcribe To:

Get Our Twitter Updates
Get Our Blog Blast
Become A Fan On Facebook
Connect With Us On Linkedin

In other recent real estate news, on January 3, 2012, Fannie Mae will be releasing updated Version 8.3 of Desktop Underwriter® (DU®) to implement enhancements to DU Refi Plus during the weekend of March 17, 2012.

Fannie Mae Desktop Originator/Underwriter Release Notes Update 

PDF Used from Fannie Mae

What to Subcribe To:

Get Our Twitter Updates
Get Our Blog Blast
Become A Fan On Facebook
Connect With Us On Linkedin

 

Home Affordable Refinance Program (HARP)

Listen to Real Estate Today Radio with Daniel Salas on the new guideline changes for these loans and how it affects borrowers.

Local Market Segments with Daniel Salas. Sundays from 11am to 1pm.

Read the article: http://accessloans.net/2011/11/22/clearing-up-confusion-on-harp-loans/

What to Subcribe To:

Get Our Twitter Updates
Get Our Blog Blast
Become A Fan On Facebook
Connect With Us On Linkedin

 

FEDERAL HOUSING FINANCE AGENCY News Release: 10/24/11

What to Subcribe To:

Get Our Twitter Updates
Get Our Blog Blast
Become A Fan On Facebook
Connect With Us On Linkedin