Here is an article which describes what is happening in today’s housing market. It provides further evidence as to why it is important to work with a mortgage broker. We can issue pre-qualifications and pre-approvals to get you in the best position to make an offer. Also, we shop wholesale lenders to provide you with the best rates and costs. Contact us and we can help. Important info here: https://on.mktw.net/2pyZbC7 We offer a variety of products and services, ask us how we can assist you today: Counsel Mortgage Group®, LLC www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873...
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COMMERCIAL LENDING UPDATE
New data and commentary from federal financial regulators are pointing to signs of increased risks in CRE lending. Notably, the amount of delinquent multifamily and owner-occupied property loans on the books of U.S. banks increased in the Q4-17 of last year, according to the FDIC. And while the increases and total volumes are small, the uptick marks a change in the trend after multifamily delinquency levels hit the lowest mark ever recorded by the FDIC. The FDIC data follows the Fed’s latest Monetary Policy Report that noted growing vulnerability in the commercial real estate sector. “Valuation pressures continue to be...
March 28, 2018March 28, 2018
IRISH PROVERB
“Never iron a four-leaf clover because you don’t want to press your luck.” Wishing you a happy and safe St. Patrick’s Day from all of us at Counsel Mortgage Group®, LLC! We offer a variety of products and services, ask us how we can assist you today: Counsel Mortgage Group®, LLC www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 If you would like to receive the daily blogs in your email, please click here: http://bit.ly/2GgJTJh Copyright © 2018 Counsel Mortgage Group®, LLC.
March 17, 2018March 17, 2018
COMMERCIAL LOAN UPDATE
In the January 2018 Senior Loan Officer Opinion Survey (SLOOS), released by the Federal Reserve earlier this month, we received a snapshot of Q4 credit standards among businesses. This report focuses on supply side reporting of credit dynamics. While banks reportedly continued to ease standards on commercial and industrial (C&I) loans, demand for such loans has picked-up slightly after remaining weak for more than a year. Increased demand is likely attributable to the rise in business fixed investment, specifically the surge in capital spending in the second half of 2017. With equipment spending up 10.8 percent and 11.4 percent in...
March 1, 2018March 1, 2018
SBA LOANS: UPDATE
The SBA (Small Business Administration) guidelines for 7(a) loans have been updated – they do so annually – and are now in the market for these loans. There are a couple major changes worth noting for prospective borrowers. (They’re all worth noting, but the drill-down details are beyond the scope of this discussion.) 1. Minimum down payment has been reduced to 10% of the project amount. The project amount includes not only the business acquisition, but also inventory, working capital and closing costs. This level puts it on equal footing with their 504 loan. There are other features between the...
January 27, 2018January 27, 2018
VETERANS HELPING VETERANS
Lee Selleck and Jim Moore are veterans who are committed to helping veterans. They are loan originators with Counsel Mortgage Group, LLC. Lee and Jim specialize in VA loans, and help veterans obtain home ownership and have helped veterans obtain housing with nothing out-of-pocket, including obtaining appliances. Jim and Lee work with veterans with less than perfect credit, and help them improve their credit for FREE. They have also volunteered to help veterans in many other causes outside of purchasing a home. Here they are at the VA StandDown at Veterans Memorial Coliseum in Phoenix, AZ; the StandDown is from...
January 26, 2018January 26, 2018
HELPING THE HOMELESS
HELPING THE HOMELESS Counsel Mortgage is a proud supporter of reKindle, a not for profit that helps the homeless. We participate in Second Chance Saturday where reKindle teams up with another charity, GIVE (Girls who Inspire, Volunteer and Empower) to provide backpacks, clothes, toiletries, food, water, and even massages to the homeless. We recognize how lucky we are, and recognize how fragile life is. I spoke with a gentleman who used to preach to people regarding homelessness, and now he finds himself homeless. He will find his way back to employment and living in a home, but many others still...
January 14, 2018January 14, 2018
WISHING YOU ALL A WONDERFUL 2018
January 1, 2018January 1, 2018
FEDERAL RATE INCREASE: EFFECT ON COMMERCIAL LOANS
As expected, the Federal Reserve’s Open Market Committee (FOMC) raised the target range for the federal funds at the most recent Dec. meeting. The rate rose 25 bps to a 1.25-1.50% range, with the move the Fed has now hiked the Fed Funds rate 3 times this past year and five times since they started to raise the rate at the tail end of 2015. Monetary policy is seen as remaining accommodative and consistent with strong labor market conditions and a sustained return to 2% inflation. While the policy statement did not change materially, the forecast for real GDP growth...
December 29, 2017December 29, 2017
HAPPY HOLIDAYS
The holiday season is about giving and kindness. The folks that work at Counsel Mortgage fill this role from helping veterans to serving the homeless; mortgages are what we do, but who we are is what defines us. Each person that comes to work for Counsel Mortgage is told the overriding principle of our company is to help people. If you are focused on helping people, you will succeed; this is the message we wish to share this holiday season. We wish you a joyous holiday season, may it be filled with love and happiness. For those of you who...
December 24, 2017December 24, 2017