Real Estate Financing Services for all...

[fearlu]

Thanks for the thumbs' up y'all (your checks are in the mail!) Please send loans NOW, 'cause service after 25 knots may vary.

[fearlu]

In light of the first emergency rate cut since 2001, I felt obligated to bring this off-topic subject up once again. After a 75 basis-point drop in the federal funds rate this week, we may be in for some savings across the board. Let me know if you need some mortgage analysis, I'd be glad to help. And, to the kiters I've assisted in recent months, a hearty handshake and "thanks for the opportunity to earn your business!" See you on the water!

(Do it now before the season starts. By then your priorities will be straight again!)

New company website here...

Click on the "Loan Officers" tab and if you'd prefer direct e-mail I can be reached at dave@cmfmail.com.

[fearlu]

I know, I know... two days in a row on this subject? Crazy.

Meanwhile, if your mortgage balance is between $417K and $625K I have some good news for you-- the recent economic stimulus package agreed to by the Treasury and the House of Representatives will redefine the conforming loan limit in certain high-cost areas. That's us! Prefer conforming rates to jumbo rates? I know I do!

(Thanks for the recent kiter inquiries-- my audience has grown overnight with this change. Gotta' jumbo loan? Call me! To the folks I heard from yesterday, get those mortgage statements faxed over.)

[fearlu]

Now they're sayin' up to $729,750 (the new conforming loan-limit.)

[elli]

Do you think this will give the market a little boost?

[OliverG]

Dave, faxed my recent staement in and waiting for the paperwork back from you. Between the fact that rates dropped and you're offering refi loans to all BAK members with no points and no fees whatsoever, I'm stoked! I'm hoping to save about $300/month and take out about one million in equity. Oh, that's one million in VND, not USD.

[fearlu]

Ollie, get some sleep will ya'?! You WILL be saving money now that the market has a little push. Your loan package was sent yesterday. And yes, I do consider kite-budgets when helping to negotiate fees. New kites for all! (Don't spend the full $1M on kites though, they depreciate too much.)

Elli, yes, this change is long overdue IMHO since Bay Area buyers rarely got to take advantage of conforming loan pricing. I've seen downturns before, hang tough, your values will eventually rebound and low rates don't hurt.

Man, all this biz-talk has me needing a session. Alameda perhaps?

[CdoG]

Dave ,bring your happy face right on down ...

leve the biz at hoMe

[timwim1]

Dave-

We gotta get in touch as well, but I am waiting a little longer to see what will happen with the credit markets...I anticipate quite some more fed cuts in the next months. Any idea when the non conforming limit will be lifted? That would be huge.

Thanks for this info,

Tim

[fearlu]

Charlie, Yuri, nice effort today. A was hopin' for a little more wind though...

Tim, if all goes well we should have this legislation into law by as early as mid-February. Thus, the urgency. Yes, the Fed may ease again but it is the ANTICIPATION of that event that has these rates dropping. Bankers are like lemmings to the sea. One wiff of a turnaround and the party's over. PM me when the time is right.