Where have you landed?
Question of the week: Where have you landed?
Answer: I have affiliated my California Department of Real Estate Broker’s license and my National Mortgage Licensing System license with United American Mortgage.
Based in Costa Mesa, UAM has been operating for thirty years, has excellent management and support staff for loan originators and their clients. I chose UAM for several reasons, flexibility with my part in the loan process, wide range of products to offer clients, ability to focus more on my financial advisory business, and experience.
Experience has many meanings. One is wisdom and proficiency gained over time, of which UAM has plenty.
Another is direct involvement with a person or entity. Which I, and many of my clients, have had over the years as I have referred them to a friend of my who has worked at UAM for several years. Chasse, my friend, has assisted my referred clients with commercial transactions, residential transactions out of state, or residential transactions where he had available loan programs the client needed that were not available to me.
Our relationship has been formalized this week so it will take a few days to get me up and running completely on their system, but I will be open for business for any mortgage needs, information or conversations you, your friends or clients may need.
Thank you in advance for your continued support, and most importantly your trust in working with you on your personal business as well as the trust you put in me when referring others.
To schedule an initial meeting by phone or Zoom, click here for my calendar, please feel free to forward to a friend or family member!
Have a question? Ask me!
Rates for Friday May 24, 2024: There was no economic news to move rates this week, however there were several public speaking engagements by members of the Federal Reserve which did have some impact on rates. The consistent message from the Fed governors was that there appears to be a chance the Fed may lower its benchmark rate this year, but likely only one time, instead of several times as previously hinted at, and expected by the markets. As a result, there was a slight bounce in mortgage rates from last Friday.
FIXED RATE MORTGAGES AT COST OF 1.25 POINTS LOCKED FOR 45 DAYS FOR PURCHASE TRANSACTIONS:
30-year conforming 6.625% Up 0.125%
30-year high-balance conforming 7.125% Up 0.125%
Please note that these are base rates and adjustments may be added for condominiums, refinances, credit scores, loan to value, no impound account and period rate is locked. Rates are based on 20% down with 740 FICO score for purchase mortgages.
Before you head off for the three-day weekend, open your address book and change my email for mortgage business to [email protected], it is easy to do with a few clicks!
Enjoy the long-weekend and the unofficial start of summer!
Have a great week,
Dennis
Past Weekly Rate & Market Updates can be found on my blog page at my website www.DennisCSmith.com/my-blog
