For only the cost of ___ cups of coffee . . .

Have you ever noticed how many marketing pieces, when talking about price, have to do with the idea of giving up great coffee?

For only the price of __ cups of coffee per week, you could [insert service name here: buy more life insurance, get your car washed, by a home security system, save $780 a year towards retirement, etc]. 

But . . . umm . . . excuse me . . . what about my coffee??

While this may seem like a catchy way to quantify how “simple” such a decision to purchase might be, I find it to be a deplorable marketing strategy.  Why would a company NOT want me to have great coffee?  Do they hate me?  I just don’t get it. 

In fact, to show my disdain for this “coffee-hating” marketing mentality, I have decided to do the exact opposite.

(ok, so maybe not exactly the EXACT opposite)

Mortgage Pro?  Let me buy you coffee.

If you are a mortgage professional, sign up for a 30 day free trial with myRateTrack.com and I’ll buy you a cup of coffee (you don’t have to give up coffee to be a myRateTrack.com subscriber — see, we actually encourage it).  And because there are probably between 50 to 500 coffee shops in between where you are and where I am, instead of trying to decide where we should meet, I’ll just send you a gift card so you can go buy a cup of coffee . . . my treat. 

With your “designer latte” (the marketers, who are clearly coffeemate do-it-yourselfers, try to add to the guilt factor by emphasizing how seemingly expensive your luxury morning drink is – ignore them), you can relax with your laptop, enjoy a free fresh tall-whatever-you-love on me, and spend a little time setting up your new myRateTrack.com account.

Here’s the link to sign up for the 30 day free trial . . . and just so you know, our system costs about as much as seven cups of coffee per month, but we recommend budgeting in the extra $35 per month.

_

Today marked the final day of the Feds $1.25 trillion purchase of mortgage backed securities — a successful program meant to drive mortgage rates down.  Prior to Fed’s involvement in the market, mortgage rates were approximately 1% higher than where they are today.  Over the course of the buying program, mortgage rates reached their lowest levels in history.

So, mortgage rates in the 4′s . . . I bid you adieu.

-

“So long, farewell, auf wiedersehen, good [bye]”

“So long, low rates, auf Wiedersehen, good bye,

Oh must,  you go, I loved them under fi-ive [percent].  (doo-do-doo, etc.)

So long, farewell, auf Wiedersehen, adieu

Fed purchase, is done . . . 30 year’s now six point two [well, it could be soon].  (doo-do-doo, etc.)

“So long, farewell, au revoir, auf wiedersehen

I thought, I heard, low rates were here to stay [a reference to the most recent Fed statement, although mainly on the need for the Federal Funds rate to remain low, but leaving the option open to re-enter the MBS market; also a reference to consumers who "feel" like mortgage rates may go lower, without any reasoning or explanation to support said feeling].  (doo-do-doo, etc.)

So long, farewell, auf Wiedersehen, goodbye

No more, refi’s, a sigh and say goodbye — Goodbye.

We’re sad, their done, I cannot tell a lie,

[in order for mortgage rates] To stay, so low, who’s really going to buy?? (doo-do-doo, etc.)

The Fed money has gone away and so must four point two fiiiiiiive . . .

So long, great rates, auf Wiedersehen, goodbye

Goodbye, goodbye, goodbye

-

If you have a 2nd mortgage or line of credit on your home, you may already know this . . . a lot of lenders have been freezing credit lines and reducing high credit limits on 2nd mortgages and home equity lines of credit.  Reducing high-credit limits without much notice (except a letter to the homeowner to notify them of the the decrease in available credit) is making a lot of people quite upset.

Just to clear up a common misconception, a home equity line of credit IS a second mortgage, a type of second mortgage.  A handful of years ago, lenders realized that the term “2nd mortgage” was much less appealing than “line of credit” so the marketing term for a revolving credit line that is lien’d against a property in 2nd position (the house serves as collateral for the repayment of the debt), is just that, a mortgage in second position (2nd mortgage).  This is important in understanding and explaining, why in fact, your second mortgage lender does not hate you.

First, let’s talk about lowering credit limits.  Are lenders allowed to do this?  And, if they are allowed to lower credit limits, why are they lowering credit line amounts?

First – is the lender allowed to lower the high credit limit on your second mortgage?  Yes, probably.  You will need to read through your closing paperwork to find your “Home Equity Line Agreement” or “Line of Credit Agreement” (or something similar) and look for a heading titled Suspension or Reduction of Credit Line.  Under that section, you will likely see something similar to the following language:

“Suspension or Reduction of Credit Line. Bank can refuse to make additional extensions of credit or reduce your Line if you breach a material obligation of this Agreement in that:  The value of your Dwelling securing your Line declines significantly below its present appraised value for purposes of the Credit line.”

The phrase “declines significantly below it’s present appraised value” is up for interpretation, but, in a nervous mortgage market and a declining-value real estate market, any decline in value means big risk for the 2nd mortgage lender.  Here is an example:  Let’s assume you did an 80-15-5 to purchase your home for $300,000.  Your loan amounts were for 80% = $240,000 and for 15% = $45,000 and put down 5%.  Similarly, you could assume that you did a 95% LTV (loan to value ratio) 2nd mortgage at some point after closing for home improvements, emergency cash reserve, etc.  If your 2nd mortgage was a line of credit, the outstanding balance is probably about the same, around $45,000 (most credit lines have monthly payments of interest only).   If your home has decreased in value by 10% (this is probably a conservative estimate for a lot of regions), your home is now valued at only $270,000.  After 3 years, you have paid down your first mortgage to $230,600 . .  so the 1st mortgage and the 2nd mortgage total $230,600 + $45,000 = $275,600 — BUT, the house is only worth $270,000.  If your loan goes in to default and the property to foreclosure, the 2nd mortgage company is SURE to lose money — and probably quite a lot.

So that leads us to the second question (although I think I may have already answered it): why are second mortgage lenders lowering and freezing credit lines?  Why?  Because they don’t want to lose money.  And, by “lose money” I mean, “they don’t want to lose MORE money than what they are already losing on all of the foreclosed, short-sale and distressed sale properties.”  They don’t want to lend more money than what can be expected to be recouped in the case of default.  It’s business . . . not personal.

It’s not that they don’t like you, in fact, as you continue to make your monthly payments (assuming that you are), they like you more and more as each monthly second mortgage statement passes.

It’s not you . . .

It’s that they don’t like your collateral (the value of your house), at least not as much as they used to (based on original appraisal).

With the Feds MBS purchase program closing at the end of this month, most mortgage professionals and economists agree that mortgage rates will go up.  How far, how fast mortgage rates will move up and exactly how soon after the Feds stop purchasing is up for discussion.

No double-talk.  No guessing both sides.  No putting chips on red and on black.

Imagine it’s Thursday, April 1st, the markets open . . . uh-oh, the market . . . and then at 10:45 AM EST, your first rate sheet of the day comes across your email (ding).  You double-click the pdf file (scroll, scroll, zoom-in, zoom-in, scroll back up because you went too far).

-

Thursday, April 1st, 2010

30 Year Fixed Rate Mortgage, at par pricing = ??

Add your prediction by commenting on this post.

OR

By posting your prediction on twitter with @myratetrack or using #mortgageratepredictionAprilOne

-

Winners (must be a mortgage professional) will be included in a drawing to give one lucky winner a 1 YEAR SUBSCRIPTION to myRateTrack.com!

So, you have an adjustable rate mortgage, what to do, what to do?

A lot of consumers took advantage of low mortgage rates five years ago by taking out an adjustable rate mortgage.  These mortgage loans, generally fixed for 3 years or 5 years, 7 years or 10 years, allowed consumers to save thousands of dollars in interest by having an interest rate below the rate of a fixed rate mortgage.

For example, on a $300,000 mortgage, in November of 2004, you could get a 5/1 ARM (principle and interest payments) at 4.5%.  The comparable 30 year fixed rate loan at the time was around 5.375%, giving the adjustable rate mortgage a monthly savings of $159 per month . . . or $9,540 over the first 60 months (5 years fixed term).  Saving $10,000 is good, not toxic, or exotic, or evil as the media has vilified ARMs; a $10,000 savings is a good thing.   In fact, in 2004, Alan Greenspan agreed that savings thousands of dollars is a good thing, stating that ”American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.” (source: usaToday.com here).

My prediction — the NEXT big headline against the mortgage industry (give it 12 to 24 months to materialize) will deal with consumers with ARM’s NOT refinancing to fixed rate mortgage when rates were at an all time historic low (ala, now).  The media will likely talk about how confused consumers, not fully understanding the terms of their risky exotic mortgage (breathe, 1, 2, 3 . . . more on that next time).

So, for any consumer who HAS recently refinanced their ARM in to a fixed rate mortgage, EVEN if you spent $6,000 in closing costs to refinance, you have still saved $3,540 when compared to the 5.375% fixed rate mortgage you could have started with.  And, in addition to that savings, you now have a rate in the high 4’s, where if you would have still have had the 5.375%, you may have just kept it, because the difference between the two is probably not enough to warrant the refinance (an additional $115 in savings per month).

So why are consumers NOT refinancing out of their ARMs in to historically low fixed rate mortgages??  For some it is because they can not refinance their mortgage (low appraised values, loss of income, 2nd mortgage unwilling to subordinate).  But for others, it is because their interest rate has actually gone DOWN.

Continuing with the example above, with a start rate at 4.5% in November of 2004 (lets also assume the ARM in the example is based on the LIBOR index with a 2.25% margin) . . . in November of 2009 at the time of adjustment, the LIBOR index was around 1.95%, which means that the interest rate would adjust to (index + margin), 1.95% + 2.25% = 4.25%.   Assuming this loan is a standard conventional principal and interest ARM, the rate of 4.25% would now be fixed for 12 months, and the payment would go down by $45 per month . . . even more savings!  If your interest rate were to adjust today (February 2010), because the LIBOR index is even lower, the rate would adjust down to 3.25%!

And WHY IN THE WORLD would anyone pay $6,000 in closing costs to refinance out of a 3.25% interest rate??

Here’s why:

1 — Historically low rates will (will) [will] (will) come to an end.  Economist agree that interest rates WILL go up — how quickly and how high is certainly up for discussion.  The Feds program to purchase mortgage -backed securities (MBS)  is ending March 2010 (next month) and supply and demand tells us that rates will go up.  The Feds are providing the demand for purchasing MBS, with them stepping out, the demand will go down, prices will go down, and when prices go down, mortgage rates go UP.

The Feds announced their MBS purchase program in November 2008 and look what happened to rates immediately.

2 — Your next adjustment will be UP (very likely).

Most people assume that when the Feds “raise rates” that mortgage interest rates go up.  While this is sometimes true, the Feds actually move an internal banking rate known as the Federal Funding rate.  While the Fed’s Fund rate is not tied directly to mortgage rates, it does track with the LIBOR index.  And as the Feds “raise rates” the LIBOR index will follow.  The 5 year average for the 12 month LIBOR index is 3.9.  Using this as an assumption of where it might stand a year from now, 3.9% index + 2.25% margin = 6.15%.  Taking the scenario above, and your payment from 3.25% to 6.125% just went UP more than $500 per month!

3 — Refinancing now is better than refinancing later (likely).

Instead of an increase of $500 per month (3.25% to 6.125%), that $300,000 mortgage could be refinanced at 4.75% = an increase in payment of $260 per month from 3.25%, but a savings of $257 when compared to 6.125%.  Assuming the closing costs are $6,000 to refinance now, and assuming that the following year (2011) the ARM would stay around the 6.125% (which may be the BEST case scenario), the closing costs on a new refinance would take 23 months to recoup.  Which means, assuming that you are going to stay in your current home for more than 2 years from today, you should refinance . . . you should refinance, now . . . unless you think interest rates will go lower . . . which they aren’t . . . so you shouldn’t think . . . so you should . . . refinance.

Feel free to republish, just be kind and link back to the original article.

Who wouldn’t want 4.5%?  If you have an adjustable rate mortgage that has adjusted recently or is about to adjust, you probably have/had a 5 year ARM.  Think back to 2004 and remember this conversation:

“Well, Mr/Mrs. Borrower, there are a few options to consider.  The 30 year fixed rate option at 5.5%, which would make your monthly mortgage payment $1,703 principle and interest.  Or, the 5/1 ARM option at 4.5%, which would make your monthly mortgage payment $1,520 per month — a savings of $183 per month, or $10,980 over the first 5 years!”

Most people with an adjustable rate mortgage (ARM) remember this conversation well.  For a large percentage of borrowers, the conversation continued one step further . . .

“Also, Mr/Mrs. Borrower, an interest-only option is also available to you.  This program would allow you to decrease your monthly payment and cash-flow and maximize investments other places (increase your 401K, paydown other debts, etc, etc) and would give you an interest rate of 4.5% and a monthly interest only payment of $1,125 — a cash-flow savings of $578 per month!”

Most people remember this part of the conversation as well.  It is the NEXT part that many have forgotten.

“The 5/1 interest-only ARM is a good program for people who are going to stay in their home for 5 to 6 six years.  If you plan on staying in your home longer, you will want to refinance your mortgage . . . hopefully to a low fixed rate option.”

Now, please don’t read this and think that I am against adjustable rate mortgages.  If anything, people who have had an adjustable rate mortgage for the past 5 years, made the best (and luckiest) decision they possibly could have made — even better than most could have ever imagined.  They benefitted from an interest rate 1% point lower than the available fixed-rate, AND (by complete luck) now that the rate is about to adjust (at least for people with a 5/1 ARM), they are now able to refinance to the lowest fixed rate in history.  Easy decision, right!?!  Apparently not so much.  And here is why.

Adjustable rate mortgages change based on two numbers: the margin and the index.  The margin is a number determined and set at the time of closing and for most “A” borrowers, that number is equal to 2.25% to 2.5%.  The index is a number that fluctuates based on the financial markets — for most borrowers, their ARM’s index is the 12 month LIBOR index.  When you take those two numbers and add them together, that determines the new rate for the mortgage for the next 6 to 12 months (depending on your loan).  There are caps on adjustment, for example, the loan may only be able to adjust up or down 2% per year and no more than 6% over the life of the loan.

If you have an ARM that has recently adjusted or is about to adjust, chances are your interest rate is going to go DOWN.  That’s right.  Because the Federal Funding Rate is so low, the LIBOR index is crazy-low as well.  This week, the 12 month LIBOR was around 1%.  So, for most borrowers with an adjustable rate mortgage 2.5% (margin) + 1% (index) = 3.5% interest rate fixed for either 6 or 12 months.  Refinancing your mortgage today would cost you thousands of dollars and would give you a higher interest rate (around 4.75%) and a higher monthly payment.  So what should you do?  Wait it out for another year or two?  Save your money and just let it adjust?  Or refinance?  Here is the short answer: you should refinance.  Here is the slightly longer answer: seriously, you should refinance now.  And the full complete long answer:  if you are only going to be in your home for only 1-2 more years, you might consider keeping your current mortgage, otherwise, you should refinance now.

Here are a few things to consider . . .

• The 2 year average for the 12 month LIBOR index = 2.84.  This average plus a margin of 2.5% = 5.34% (would be rounded down to 5.25%)
• The 3 year average for the 12 month LIBOR index = 3.63.  This average plus a margin of 2.5% = 6.13% (would be rounded down to 6.125%)
• The LIBOR index tracks with the Federal Funding Rate, so when the Feds begin to raise rates, the LIBOR index will rise as well.
• In 2008 (before the Feds began to purchase mortgage backed securities to manipulate mortgage rates down), the average rate for a 30 year fixed rate mortgage = 5.90%.  In 2007 = 6.01% and in 2006 = 6.09%.

So if those aren’t reasons enough to convince you that you need to refinance your mortgage (even though it probably means a higher monthly payment), here is some math to help.  On a $300,000 mortgage, the savings between an adjusted rate of 3.5% (my best guess at your lower, newly adjusted rate) and a fixed rate of 4.75% is $217 per month = $2,604 for the year.  Assuming in year 2, that your ARM adjusts up to 5.25% (2 year average from above), the difference between 5.25% and 4.75% is $92 per month = $1,104 for the year.  Assuming in year 3, that your ARM adjusts up to 6.125% (3 year average from above), the difference between 6.125% and 4.75% is $258 per month = $3,096 for the year.

Still not sure whether or not you should refinance your adjustable rate mortgage to a higher rate and higher payment?  Well, even though I can’t definitely prove to you that you should refinance (i.e. here is the monthly savings; here are the closing costs; here is when you will break-even on the expense of your closing costs), you’ll know the answer for sure in two to three years from now . . . my guess is that you’ll also know the approximate payment for a fixed rate mortgage at 6.5% . . . and you’ll wish you had a payment for a fixed rate mortgage at 4.75%.

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

Regardless of whether or not you ‘tweet’ — you probably recognize the term.  And if for some strange reason you do not recognize the terms ‘tweet’ or ‘Twitter’, then a special thank you to you for finding my on-going roll of informational and editorial postings found here on my auxiliary world-wide-web webpage site, which can also be found at h-t-t-p, colon, back-slash, back-slash, myratetrack (all one word and all lower-case), dot wordpress, dot, com . . . ha.

Hopefully you already have a Twitter account and at minimum, you have uploaded an image and added a little bit of information about yourself to the bio section.  If you are slightly more advanced, you may have a custom image background on your twitter page (proof you’re not a newbie), and you are actively gaining followers, looking for people to connect with, and you are actively ‘tweeting’.  For any late adopters who have stumbled upon this post and do not yet have a Twitter account, please don’t be so quick to judge — remember all those ugly things you said about texting and about Facebook??  Probably wish you could take some of those things back, right?

So, once you are up and tweeting, then what?  How do you measure your tweeting effectiveness?  (aside from the obvious of more connections, more business, more traffic, etc).

For fear of ruining my own hypotheses, while I have done some personal research, I have done zero google-searching on the topic,  so feel free to leave your comments, post links to similar info, etc. after this post and we’ll consider it a work in progress.

Your Coefficient of Tweet (think of  it as your Twitter effectiveness, your personality, your tweet-power, or something similar) can be detemined and expressed by two main factors:  your frequency of tweet and your tweet-followation.

1. frequency of tweet

Your frequency of tweet is the number of total posts divided by the number of days since your first post.

For example, if you have 100 posts over the past 5 months (approx. 150 days), 100 divided by 150 = 0.66

What is your frequency of tweet?

100%+ — active tweetor (pronounced: twEE-Tor) — when speaking/tweeting of this person or to this person, it is proper to use the more formal tweet-or instead of less formal tweet-er, often pronounced: twEE-der.

80 to 100% — active twitter-er-er (additional -er’s may be added to the end of this word as deemed necessary)

60 to 80% – week-day tweet’r (It’s cool, it’s a work thing. I get it)

40 to 60% – twitter user (as in, ”Yes, I use the Twitter.”)

10 to 30% – the “oh-yeah I’m supposed to be twittering!” tweeter  (often pronounced: twEE-der)

1 to 10% — tumble-weed town twit (insert cowboy movie sound whistle ooh-aahh-ooooooooh)

0% — these users are in one of three categories: someone made me set up a Twitter account to hold my username; or, my boss made me set it up for work and then forgot about it by our next meeting; or, tweet-wall-flower — you are there, but you don’t like to dance . . . or mingle, or talk or even walk across the floor to get a glass of punch.

Anyone have any ideas for 200%+? or 600%+?  Is is possible to have a frequency of tweet that is too high?

2. tweet-followation

Your tweet-followation is the number of people you are following in proportion to the number of people who are following you.

For example, if you are following 300 people and 200 people are following you, 300 divided by 200 = 1.5

What is your tweet-followation?

0.001 to 0.25 — You’re cool like that.

0.26 to 0.5 – You’re good enough, smart enough, and doggone-it, people follow you.

0.51 to 1.5 — You’ve got Twitter-chi.  Nice balance.

1.51 to 2.0 — You’ve got a little “man, look at all the people you can follow on twitter” about you.

2.1 to 3.0 — You suffer mildly from “so, why don’t people follow me back? . . . I’m not a bot, you know”

3.0+ –  You might be disproportionately overly interested

0.0 — Remember a number IS divisible by zero (0).  You could be following 50 people with 0 people following you and your tweet-followation would be 50 divided by 0 = 0.  This is not so good; and if it continues, a phone call to one of the people you follow would be in order to ask for a little follow-back.  Or even easier, convince a co-worker or friend to set up a Twitter account and you just worked yourself out of the goose-egg.  See notes below for zero divided by a number.

ERROR — It is impossible to divide a number in to zero (0).  So, if you are following zero (0) people and 500 people are following you, your tweet-followation would = ‘ERROR: DOES NOT COMPUTE’, which happens to be a perfect description of this phenomena.  Your Twitter account is either completely inactive or could possibly be a publicity stunt or something similar.  Maybe you like for people to know all about you, but not really the other way around???

So, where do you fall?  What is your frequency of tweet and your tweet-followation?

Is there any truth to this?  Did I just make all of this stuff up?  Well, yes, kind of, on both counts.  Like I said, I didn’t want to go around searching the internet for something similar only to find posts that would wreck all of my ideas.  I also didn’t want to find some math-genius who had already done something similar who would critique my methods because I used the word coefficient instead of quotient or dispersion.

Post a comment below on your results and if there is any truth to your findings.  I am open.  Remember, it’s a work in progress.

Thanks for reading!

Sincerely,

Jeffrey Pinkerton – a twitter’er’er’er (0.95 frequency of tweet); often concerned that my quickness to follow people who tweet about mortgages, interest rates, real estate, triathlons, or cycling, will have me confused for some kind of twitter-follow-bot (2.6 tweet-followation).

P/S — Next time I’ll discuss your twitter quotient of retweet, your twitter quality-link dispersion factor, and your twitter defining outlier.  : )

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

Follow myRateTrack on Twitter and the Quick Refi Calculator is our gift to you!

Find myRateTrack on twitter.

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

If a picture is worth a thousand words and if seeing is believing  . . . then, a 30 minute live demo of the myRateTrack.com system and website, must be worth . . . well, I don’t know how that translates exactly.  But I do know that it will be worth your 30 minutes.

Marketing with myRateTrack.com (15 minutes)

Live Demo with myRateTrack.com (15 minutes)

Click here to see dates and register for an upcoming WEBINAR.

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.

Instead of commuting all the way back to the east coast and shipping my booth material back and forth and being forced to pay the $350 to the exhibit folks for “handling” my shipment (see post below on my recommendation for the US government to regulate the convention industry), only to turn around and hop a plane back to Las Vegas, I decided to take a few days to get out and get some fresh air.

So, I took a short dam trip with a bunch of other dam tourists and got to go on a great dam tour (Hoover Dam jokes are funny and seemingly never get old).  See great dam photo below.  And then from there, drove out to the Grand Canyon for a few days of great views and fresh air.

Rest and refreshed . . . ready for NAMB West.  Hope to see you in Vegas!

myRateTrack.com is a web application system for mortgage professionals — to market to past clients and new clients — by keeping them READY and “in the know” with their refinance options.  Once SET up, the myRateTrack.com system generates and delivers (via email) detailed, customized, customer-specific refinance reports to clients (also available instantly).  The RateTrack report is branded with the mortgage professionals personal information and is customized with their rates and closing costs.  They system also includes a Target Refi Rate Notification System and a feature to offer advertisement space to Realtor and referral partners.  For more information, visit www.myRateTrack.com.  Ready. Set. Refi.