I have committed to run five miles in the mud up at Winter Park on August 4th to raise funding to end Multiple Sclerosis. The event is titled "MuckRuckus" and will consist of a five mile run through mud and many obstacle courses. Take a look at the website listed below. There are some pretty interesting pictures and descriptions of the event.
This is the link to my page. http://main.nationalmssociety.org/site/TR/MuckRuckus/COCMUCKEvents?px=11306591&pg=personal&fr_id=18837
I am asking you to
join me in the movement to create a world free of MS by making a contribution (or join our running team)
in support of my efforts. Contributions can be made on the web link above and any size contribution is much appreciated.
Thank you very much!
Friday, July 13, 2012
Monday, June 11, 2012
Dimon to Testify
This week the stage is set for James Dimon to testify before the senate banking committee regarding the $2 billion loss JP Morgan sustained from hedge trading losses in early 2012. Will the fall out from this reckless trading be the end of JP Morgan Chase (the losses are expected to far exceed $2 billion)? Some believe the majority of the top 5 banks in our country are on a predetermined path to extinction. I disagree with this notion.
The top 5 banks will prosper for some time ahead due to sheer size and scope. To date, the FDIC has shut down 28 banks thus far in 2012 compared to 45 banks at this time in 2011. Even though we are at nearly a 50% reduction, this is still far too many banks being forcibly closed. Once this number starts to level out to the pre-2008 figures (http://www.fdic.gov/bank/individual/failed/banklist.html), consumers will feel more secure and turn to smaller, more local financial institutions to handle their banking needs. This will put pressure on the top 5 banks, but will not force them out of business.
Regulation from legislation is the question to the existence of the top 5 banks. The political lobbies of the top 5 banks are too strong and too impor$ant to the politicians to propose legislature that will lead to their demise.
For now and for later, trust First American Mortgage with your real estate financing needs. We work with both large and small banks to ensure that you are getting the Best Value available.
Thank you!
The top 5 banks will prosper for some time ahead due to sheer size and scope. To date, the FDIC has shut down 28 banks thus far in 2012 compared to 45 banks at this time in 2011. Even though we are at nearly a 50% reduction, this is still far too many banks being forcibly closed. Once this number starts to level out to the pre-2008 figures (http://www.fdic.gov/bank/individual/failed/banklist.html), consumers will feel more secure and turn to smaller, more local financial institutions to handle their banking needs. This will put pressure on the top 5 banks, but will not force them out of business.
Regulation from legislation is the question to the existence of the top 5 banks. The political lobbies of the top 5 banks are too strong and too impor$ant to the politicians to propose legislature that will lead to their demise.
For now and for later, trust First American Mortgage with your real estate financing needs. We work with both large and small banks to ensure that you are getting the Best Value available.
Thank you!
Wednesday, May 30, 2012
If This Then That!
Posting here...makes it's way around the social media circuit. FB and Twitter are now victims of simultaneous posts! Mahalo.
Tuesday, May 22, 2012
Paul Volcker and Securitization
Earlier this month, Paul Volcker (American Economist and Chairman of the Fed under President Carter and President Reagan) stated that modern securitization causes banks to engage in speculative trading putting their customers and shareholders at too large a risk.
Gramm-Leach-Bliley tore down Glass-Steagall in 1999 under President Clinton. Glass-Steagall was a law that was in place to prevent diversion of funds into speculative operations and prevent the affiliation of banks, insurance, and securities companies. Political lobbying and economic pressure caused congress to overturn a law that had held our financial system together for over 66 years! Now we have banks, insurance and investments all under the same corporation - too big to fail.
The new financial reform bill (Frank-Dodd) has some provisions to abate speculation within financial institutions (ironically called "The Volcker Rule"). Will it be enough? JP Morgan Chase is under investigation currently for violating this rule and loosing over $2 billion due to speculative trading. Let's see what happens here.
Yes, Fannie and Freddie need to be overhauled with a serious dose of common sense (the ghost of Thomas Paine!) While modern securitization aids in allowing speculation by banks, it is not the reason the US banking sector almost collapsed in 2008. This was a direct result of the greed caused by enticement of lobbyists from banks, insurance companies, and securities firms to repeal Glass-Stegall and the fortune they stood to make (and have made).
Gramm-Leach-Bliley tore down Glass-Steagall in 1999 under President Clinton. Glass-Steagall was a law that was in place to prevent diversion of funds into speculative operations and prevent the affiliation of banks, insurance, and securities companies. Political lobbying and economic pressure caused congress to overturn a law that had held our financial system together for over 66 years! Now we have banks, insurance and investments all under the same corporation - too big to fail.
The new financial reform bill (Frank-Dodd) has some provisions to abate speculation within financial institutions (ironically called "The Volcker Rule"). Will it be enough? JP Morgan Chase is under investigation currently for violating this rule and loosing over $2 billion due to speculative trading. Let's see what happens here.
Yes, Fannie and Freddie need to be overhauled with a serious dose of common sense (the ghost of Thomas Paine!) While modern securitization aids in allowing speculation by banks, it is not the reason the US banking sector almost collapsed in 2008. This was a direct result of the greed caused by enticement of lobbyists from banks, insurance companies, and securities firms to repeal Glass-Stegall and the fortune they stood to make (and have made).
Friday, April 20, 2012
Friday, March 23, 2012
FHA Changes MIP Premiums
On 4/9/12, President Obama's Temporary Payroll Tax Cut Continuation Act of 2011 is requiring FHA to increase the mortgage insurance premiums for newly originated loans. Currently, 30 Year Fixed FHA Mortgages require 1% of the loan amount paid upfront as mortgage insurance. This figure can be financed into the loan amount and is rarely seen on the borrower's bottom line. In addition to this, there is a 1.15% annual mortgage insurance premium that is paid monthly.
These fees have been going up at various intervals over the last few years. The demise of "sub-prime" lending has allowed FHA insured loans to flourish with their low down payment requirement of 3.5%.
The changes that are going to occur on 4/9/12 will make a big impact on the affordability of FHA loans. The upfront mortgage insurance premium is going to 1.75%. A whopping 75% increase. The annual mortgage insurance paid monthly will increase to 1.25%. .10% on $100,000 equals an $8.33 increase in monthly payment. This is quite low compared to the last increase of .25% in April of 2011.
What does this mean to you? - With the ample availability of 5% down payment conforming loans, not too much at the moment. FHA loans drive a very important sector of our housing economy right now. This sector is allowing the nation's banks, GSEs (Fannie and Freddie) and other holding companies to get out from under the massive amount of properties they own as a result of foreclosure and default. For these institutions, increasing the difficulty for borrowers to obtain FHA financing, is not good and results in a longer term holding non-performing assets. Fortunately, we are starting to see REITs coming alive again and buying up these non-performing assets due to the strengthening rental market. As investors step up to make up for the shortfall of FHA buyers, look for prices and interest rates to head north.
These fees have been going up at various intervals over the last few years. The demise of "sub-prime" lending has allowed FHA insured loans to flourish with their low down payment requirement of 3.5%.
The changes that are going to occur on 4/9/12 will make a big impact on the affordability of FHA loans. The upfront mortgage insurance premium is going to 1.75%. A whopping 75% increase. The annual mortgage insurance paid monthly will increase to 1.25%. .10% on $100,000 equals an $8.33 increase in monthly payment. This is quite low compared to the last increase of .25% in April of 2011.
What does this mean to you? - With the ample availability of 5% down payment conforming loans, not too much at the moment. FHA loans drive a very important sector of our housing economy right now. This sector is allowing the nation's banks, GSEs (Fannie and Freddie) and other holding companies to get out from under the massive amount of properties they own as a result of foreclosure and default. For these institutions, increasing the difficulty for borrowers to obtain FHA financing, is not good and results in a longer term holding non-performing assets. Fortunately, we are starting to see REITs coming alive again and buying up these non-performing assets due to the strengthening rental market. As investors step up to make up for the shortfall of FHA buyers, look for prices and interest rates to head north.
Monday, February 20, 2012
Jimmy Buffett's Long Lost, Clean Cut, Relative.
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| Hi Kaleah! |
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| Hi Uncle Brad! |
Thursday, February 16, 2012
Three's Company
Tuesday, February 7, 2012
Bank of America said to put off Refinancing Clients
Bloomberg.com reported today that Bank of America has started a reservation system allowing their customers to receive a call back in 60-90 days due to incoming call volume. So yes, incredibly they are saying "we are too busy for your money right now" during these historically low interest rates. Guess what? - First American Mortgage, LLC is open for business and we are not only originating refinances currently, we are providing great service too! Did Bank of America tell you to wait 60 days before they could help you? Well, don't think twice - go to www.FirstAmericanMortgage.com, fill out our secure online application and get a call from me, the owner, that very same day. I am never too busy for your referrals either. Thank you!
Friday, January 20, 2012
SOPA/PIPA, did Google just shut down congress?
Anyone who's been on the internet within the last 24 hours most likely saw the banners asking for support to petition against SOPA and PIPA. SOPA and PIPA are two pieces of legislation that would restrict content on the internet and shut down websites that infringe on copyrights. Similar to what happened to Napster in 2001.
Viacom, Dow Chemical, CBS Corporation and Major League Baseball are a few of the companies that support the bills. Whereas Google, Microsoft, Yahoo, and Petzel are a sample of some of companies that oppose the bills.
I do not know whether these bills will pass or be re-written into another bill that will one day pass, but the fact that Google and a few other web sites collected enough public response in ONE DAY to force congress to halt the bills' progress is ASTOUNDING.
Think of what this could mean to our way of Government. Think what this could mean to our way of life as Americans. It is a very exciting time to be alive!
Viacom, Dow Chemical, CBS Corporation and Major League Baseball are a few of the companies that support the bills. Whereas Google, Microsoft, Yahoo, and Petzel are a sample of some of companies that oppose the bills.
I do not know whether these bills will pass or be re-written into another bill that will one day pass, but the fact that Google and a few other web sites collected enough public response in ONE DAY to force congress to halt the bills' progress is ASTOUNDING.
Think of what this could mean to our way of Government. Think what this could mean to our way of life as Americans. It is a very exciting time to be alive!
Wednesday, January 4, 2012
S&P/Case-Schiller...rounding out numbers for big statements
"According to David Blitzer, chairman of Standard and Poor's index committee, current home prices are back to 2001 levels when adjusted for inflation." - Housingwire.com 1/3/12
http://www.housingviews.com/2011/12/31/home-prices-corrected-for-inflation-at-2001-levels/real-house-prices/
Upon reading this and suddenly believing I could go buy my neighbor's house for two thirds of its value - I thought it might be best to take a look and see some REAL (local - not Detroit or Las Vegas) numbers:
1. 1070 Grant Place, 80302 sold in June of 2000 for $355,000 and is currently listed for sale at $599,000.
2. 345 S. 38th St, 80305 sold in August of 2000 for $332,000 and is currently listed for sale at $414,975.
3. 2343 Kalmia, 80304 sold in December of 1999 for $485,000 and is currently listed for sale at $734,900
Now - these homes are located in different neighborhoods within the City of Boulder and have shown an average increase of 48.33% since the 12 month period ended August 2000. Inflation has averaged 2.48% over that time period according to inflationdata.com. Taking into account the inflation variable and assuming the sellers get 90% of their list price, we are still looking at increases greater than 30%. Also, remodels or additions could be a factor for larger increases in value. But since the Case-Schiller does not take that into account, neither will we.
I would like to thank David Blitzer for proving once again, that real estate investing comes down to three things: location, location and location. Forecasting and investing models can always be skewed and shown to be inaccurate. Always do your leg work and due diligence before investing.
Happy 2012!
http://www.housingviews.com/2011/12/31/home-prices-corrected-for-inflation-at-2001-levels/real-house-prices/
Upon reading this and suddenly believing I could go buy my neighbor's house for two thirds of its value - I thought it might be best to take a look and see some REAL (local - not Detroit or Las Vegas) numbers:
1. 1070 Grant Place, 80302 sold in June of 2000 for $355,000 and is currently listed for sale at $599,000.
2. 345 S. 38th St, 80305 sold in August of 2000 for $332,000 and is currently listed for sale at $414,975.
3. 2343 Kalmia, 80304 sold in December of 1999 for $485,000 and is currently listed for sale at $734,900
Now - these homes are located in different neighborhoods within the City of Boulder and have shown an average increase of 48.33% since the 12 month period ended August 2000. Inflation has averaged 2.48% over that time period according to inflationdata.com. Taking into account the inflation variable and assuming the sellers get 90% of their list price, we are still looking at increases greater than 30%. Also, remodels or additions could be a factor for larger increases in value. But since the Case-Schiller does not take that into account, neither will we.
I would like to thank David Blitzer for proving once again, that real estate investing comes down to three things: location, location and location. Forecasting and investing models can always be skewed and shown to be inaccurate. Always do your leg work and due diligence before investing.
Happy 2012!
Friday, December 16, 2011
This holiday season, stock up on...light bulbs?
That's right, get your incandescent light bulbs before they are all gone. The original ban set to go in force on 1/1/2012 on incandescent bulbs is now being pushed back to September of 2012. Energy efficient bulbs such as the Compact Fluorescent Light and Light-Emitting Diode, are the future as exceptional energy saving devices. But which is better?
The CFLs inability to work with a dimmer switch and the presence of mercury within the light is considered by many - a big let down. Light-Emitting Diode , or LED lights work well with dimmers and the overall environmental impact is much less than that of the CFL as stated by Dustin Behounek (Owner of The Electric Edge, LLC.(www.electricedge.net)). The cost of LEDs in today's marketplace is a bit on the high side though. A 40 watt equivalent LED is about $12, whereas a CFL version is under $5. However, the LED has a lifespan over 25,000 hours and the CFL is expected to last a minimum of 6,000 hours. So in that respect, the LED is a cost savings! Not to mention, LEDs make for excellent holiday lights (you have seen them as the most brilliant in the neighborhood, but may not have known they were LEDs).
Whichever light you pick, I wish you the best for happy holiday season and a prosperous 2012!
The CFLs inability to work with a dimmer switch and the presence of mercury within the light is considered by many - a big let down. Light-Emitting Diode , or LED lights work well with dimmers and the overall environmental impact is much less than that of the CFL as stated by Dustin Behounek (Owner of The Electric Edge, LLC.(www.electricedge.net)). The cost of LEDs in today's marketplace is a bit on the high side though. A 40 watt equivalent LED is about $12, whereas a CFL version is under $5. However, the LED has a lifespan over 25,000 hours and the CFL is expected to last a minimum of 6,000 hours. So in that respect, the LED is a cost savings! Not to mention, LEDs make for excellent holiday lights (you have seen them as the most brilliant in the neighborhood, but may not have known they were LEDs).
Whichever light you pick, I wish you the best for happy holiday season and a prosperous 2012!
Thursday, November 17, 2011
Politicians Speak Out!
Thursday, November 10, 2011
First American Mortgage, LLC.
Making the big announcement today at BNI was great. A new company to add to the group with a wealth of knowledge in lending. The primary benefit to the company will be lower costs and lower interest rates to the consumer. In today's age of nickle and dime and fees everywhere you turn, this will be a REDUCTION in costs (and no, it is not made in China). Thanks for your support!
BP
BP
Thursday, October 20, 2011
Had a wonderful time this past weekend in the Black Hills of South Dakota. My first wild Rainbow from a stream or river! She smiled at me as I released her back to her river.
Mt. Rushmore was a sight to behold. To think mankind was so bold just eighty years ago to carve into the mountains. Such a thing would never be allowed today.
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