The Mortgage Group Ltd. is comprised of the area's most knowledgeable and caring mortgage professionals. We have helped thousands of families in New England realize their dream of home ownership. Since our inception in 2004, we have arranged $1,089,937,912.00 in mortgage loans while serving 5,127 families.
"May We Serve You Next?"
Join us in celebrating our latest achievement...
Customer satisfaction surveys tell us 98% of our clients would
happily refer their family and friends to The Mortgage Group.
The Mortgage Group Ltd. has helped over 5000 New England families achieve their goal of home ownership and financial security. In the process, we have closed over $1,000,000,000 in mortgages.
We thank you for helping us reach this Billion Dollar Milestone! During that same time, Inc. Magazine recognized us as one of the fastest growing mortgage companies in New England.
Thanks a billion!
If you'd like to be our 5,128th client and experience our great service and track record, just call!
Sean Wheelan
Personal Mortgage Consultant
401-965-9384
SWheelan@tmgltd.biz
www.seanwheelan.com
Mortgage rates barely moved in Bankrate's weekly survey. The benchmark 30-year, fixed-rate mortgage edged up 1 basis point, to 5.53 percent, according to the Bankrate.com's national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week's survey had an average total of 0.32 discount and origination points. One year ago, the mortgage index was 6.6 percent; four weeks ago, it was 5.56 percent. The benchmark 15-year, fixed-rate mortgage slipped 1 basis point, to 4.83 percent. The benchmark 5/1 adjustable-rate mortgage jumped 9 basis points, to 4.95 percent. Home buying activity is picking up in many U.S. markets, sparking debate about whether a federal tax break deserves kudos for the modest turnaround. Last February's economic stimulus package included a tax credit for first-time homebuyers who purchase a primary residence before Dec. 1. Eligible homebuyers can receive a break of up to $8,000 on their taxes so long as their gross adjusted income does not exceed $75,000 for singles or $150,000 for married couples. Coincidentally or not, housing activity has rebounded since the introduction of the credit. Nationally, new home sales and existing home sales have recorded gains for four consecutive months. The tax credit is scheduled to expire Nov. 30, although there is widespread speculation Congress will vote to extend the program into 2010. David Kuiper, a mortgage planner at First Place Bank in Holland, Mich., says the credit has been a big spur to sales activity. "The first-time buyer tax credit has had a huge impact on our local market," Kuiper says. "This month, over 80 percent of our purchase business was first-time buyers." Mortgage consultant Jim Sahnger says the tax credit has been the "largest contributor" to renewed homebuyer interest in his South Florida market. The credit "has provided the additional financial incentives to get buyers off the fence," says Sahnger, who works for the Palm Beach Financial Network in Stuart, Fla. Dan Green, a loan officer with Waterstone Mortgage in Cincinnati, says the buzz surrounding the tax credit has even piqued the interest of shoppers who earn too much to qualify for the break. "It's similar to the Cash for Clunkers program -- just an awareness is enough to affect sales," says Green, who is also author of TheMortgageReports.com. Brian Peart, president of Nexus Financial Group in Atlanta, agrees. "People do what other people do," he says. "If the perception is that everyone is out picking up bargains, more people will do it." Sue Woodard, business development consultant for Lakeland Mortgage in Minneapolis, also believes the tax credit's impact has been relatively modest so far. Many home shoppers remain either unaware of the credit or misinformed about how it works, she says. "I don't think people understand clearly that this is a tax credit -- meaning dollars in their pocket," she says. "(It's) not a tax deduction. (It's a) totally different thing." The credit "just hasn't had enough time to work," but could become a bigger success over time if Congress extends it into 2010, she says. Realtors, mortgage brokers, home sellers and others have complained HVCC unnecessarily complicates the home appraisal process. They accuse it of scuttling untold numbers of potential sales. Woodard says HVCC has been "absolutely devastating" since it went into effect in May, and Kuiper says it's "done more harm than good." A bill introduced in the House of Representatives would implement an 18-month moratorium on HVCC. "It will be coming before Congress in September and desperately needs to get passed," Woodard says. Meanwhile, Lazerson says the government needs to take a more active role in securing a pathway to subprime lending. Although subprime loans are thought to be at the heart of the housing crisis, such lending "is not in and of itself predatory," he says. A government effort to guarantee such loans or incentivize the private sector to fill the breach is good public policy, Lazerson says. "Where else can these folks turn?" he asks. "How can this country possibly absorb its housing vacancies otherwise? We don't want to go back to the olden days of knee-breaking loan sharks." Sahnger says it's difficult to identify a single government program or policy that could act as "a magic bullet" and spark the housing market back to life. However, he would like to see the homebuyer tax credit extended and expanded so that all buyers -- first-time or not -- receive a $15,000 credit. He also worries the fragile housing upturn now under way could falter if the government does not extend the first-time homebuyer tax credit and the Federal Reserve sticks to its pledge to stop buying up mortgage-backed securities at the end of the year. The latter $1.25 trillion campaign has been credited with driving long-term interest rates -- including mortgage rates -- lower. "Should either of these two programs go away in 2010, I can see where housing sales and prices will fall further," he says.Who gets the credit?
30-year fixed
15-year fixed
5-year ARM
This week's rate:
5.53%
4.83%
4.95%
Change from last week:
+0.01
-0.01
+0.09
Monthly payment:
$939.96
$1,290.24
$880.72
Change from last week:
+$1.04
-$0.86
+$9.03
Secondary role
Others are more tempered in their assessment of the credit's impact. Jeff Lazerson says first-time homebuyer activity is "very heated" in Southern California. However, the president of Mortgage Grader in Laguna Niguel, Calif., flatly states the tax credit is "definitely not" the primary factor driving sales. Instead, sales are soaring because "prices are down some 50 percent for these starter homes, to 2002 price levels," he says.
Policy wish list
Mortgage professionals also are not shy about suggesting additional housing-related policy actions they'd like to see. Woodard and Kuiper hope the government puts the brakes on the Home Valuation Code of Conduct, which has changed the rules regarding how lenders are allowed to choose appraisers.
Sean Wheelan
Personal Mortgage Consultant
The Mortgage Group, Ltd 401-965-9384
Cell
SWheelan@TMGLtd.biz Email
www.TheFriendlyNeighborhoodMortgageGuy.com Web Site508-276-0171
Fax
Inc. Magazine names
The Mortgage Group Ltd.
to their 2009 Top 5000 list
Fall River, MA—August 17, 2009--While many Massachusetts mortgage companies are closing their doors, The Mortgage Group Ltd. is growing at a pace recognized as extraordinary by Inc. Magazine. The company achieved the highest growth rate out of all the mortgage companies in Massachusetts. A mere two New England-based mortgage companies met the stringent requirements for the award, which highlights privately-held companies for their outstanding growth between 2005 and 2008.
The Mortgage Group Ltd., based in Fall River, MA, has offices in Massachusetts, Rhode Island, New Hampshire, and Vermont. This prestigious award proves that this provider of residential home loans for purchase and refinance is serious about assisting New England homeowners, no matter what it takes.
Don Lambert, CEO, and Division Manager (Warwick, RI branch), Sean Wheelan, see only opportunity in the climate created by the credit crisis and tightened banking regulations, bonding and compliance issues. Don and his team have created a new business model for the mortgage business.
Combining a teamwork culture that promotes tapping into the knowledge base of the group and utilizing the latest technology, Don Lambert created a system that truly supports his team of loan officers in doing what they do best-- assisting home owners.
Experience Makes The Difference
Sean Wheelan
Division Manager
401-965-9384 Cell
SWheelan@tmgltd.biz Email
www.myRImortgage.com Web Site
FHA Won't Implement HVCC The Federal Housing Administration has no plans to implement the Home Valuation Code of Conduct, Commissioner David Stevens told a delegation from the National Association of Mortgage Brokers. NAMB's FHA chairman John Councilman, who attended the meeting, reported that Mr. Stevens said he was well aware of the problems originators have been having with the code, which only applies to loans sold to Fannie Mae and Freddie Mac. That being said, the commissioner added FHA is looking at alternatives it feels would insulate appraisers from pressure from originators. Mr. Stevens also told NAMB that plans for FHA to start risk-based pricing for mortgage insurance on Oct. 1 will not be implemented anytime soon. The meeting also clarified upcoming changes in the Real Estate Settlement Procedures Act as it applies to FHA. Mortgage brokers will no longer be allowed to charge discount points starting on Jan. 1, 2010. The 1% fee limitation has been removed, and there is no limit as long as the fees are customary to the market. Furthermore, all fees, including those that are charged by the lender, must be lumped into one sum. A yield-spread premium may be charged, but it must be disclosed on a separate line on the good- faith estimate. FHA reserves are higher than they have ever been, Mr. Stevens told NAMB. That being said, he would not rule out that the government would have to bail out FHA because those reserves are projections and those projections could be changed. Still the average credit score for the program has risen from 633 to 693, due to the elimination of what were termed "troublesome programs" such as seller-paid downpayment assistance and cash-out refinancings.
GOOD news for FHA!
Personal Mortgage Consultant
The Mortgage Group, Ltd
401-965-9384 Cell
SWheelan@TMGLtd.biz Email
www.TheFriendlyNeighborhoodMortgageGuy.com Web Site
508-276-0171 Fax
I was still able to close a conventional loan, from P&S execution, to the closing table in 18 calendar days!!!
The true pros are creating teams and relationships that can make things happen! Join me in my 10th year as a Mortgage Originator. I'd love to earn your business as a client or referral partner!
Special thanks to Stacey Susi, the Realtor, she helped make everyone look good!
Sean Wheelan
Personal Mortgage Consultant
The Mortgage Group, Ltd 401-965-9384
Cell
SWheelan@TMGLtd.biz Email
www.TheFriendlyNeighborhoodMortgageGuy.com Web Site508-276-0171
Fax
Specializing in saving you time & money! Purchasing, Rehabbing or refinancing? FHA,VA,USDA, We have it. Let's orchestrate a Personalized Mortgage Plan! Visit: www.myRImortgage.com or call 401-965-9384
As your Personal Mortgage Consultant, and trusted Broker, my goal is to help you navigate the world of Residential financing.
I work with clients who are looking for guidance in choosing a mortgage that will align with their immediate and future goals. As a Personal Mortgage Consultant, I analyze my client's current debt, current and potential income and look in to their future to determine how their Mortgage will be an intricate part of their financial well being.
As a Mortgage Professional for 10 years, my career has taken me down many paths, and given me the opportunity to help HUNDREDS of individuals and families buy or refinance their homes. I've also met many fine folks and service professionals that help me deliver a complete package to my clients. Because of my realtionship first approach, my network of service professionals is growing on a daily basis!
Allow me to be your first point of contact for virtually all of your residential mortgage needs.
-The Friendly Neighborhood Mortgage Guy
For more information, please vist my personal web site: www.TheFriendlyNeighborhoodMortgaeGuy.com
ps: I'm confident that if I can't get it done, I know who can!
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Inc. Magazine names
The Mortgage Group Ltd.
to their 2009 Top 5000 list
Fall River, MA—August 17, 2009--While many Massachusetts mortgage companies are closing their doors, The Mortgage Group Ltd. is growing at a pace recognized as extraordinary by Inc. Magazine. The company achieved the highest growth rate out of all the mortgage companies in Massachusetts. A mere two New England-based mortgage companies met the stringent requirements for the award, which highlights privately-held companies for their outstanding growth between 2005 and 2008.
The Mortgage Group Ltd., based in Fall River, MA, has offices in Massachusetts, Rhode Island, New Hampshire, and Vermont. This prestigious award proves that this provider of residential home loans for purchase and refinance is serious about assisting New England homeowners, no matter what it takes.
Don Lambert, CEO, and Division Manager, Sean Wheelan, see only opportunity in the climate created by the credit crisis and tightened banking regulations, bonding and compliance issues. Don and his team have created a new business model for the mortgage business.
Combining a teamwork culture that promotes tapping into the knowledge base of the group and utilizing the latest technology, Don Lambert created a system that truly supports his team of loan officers in doing what they do best-- assisting home owners.
Experience Makes The Difference
HOW TO CONTACT ME
"The Friendly Neighborhood Mortgage Guy"
BY CELL: 401-965-9384
BY FAX: 508-276-0171
EMAIL: SWheelan@TMGLtd.biz
1287 Post Rd
Warwick, RI 02888
If you would like to be part of my network at a more formal level, we have formed an EXCLUSIVE REFERRAL group called Live Wire. Call or email me, or even visit the web site: www.LiveWireRI.info . We are actively interviewing qualified Trusted Advisors in several professional categories. I'd love to hear from you! Become a Great Local Resource!!! Please Read:
Dear Clients and Friends,
I spend a significant amount of time networking, and below you will find some great personal referrals. They include folks I've known for decades and new associates with strong ethics and skills within their specific service industry. When you contact one of my "Great Resources!!!" be sure and let them know you found them on my site!
Do you have a service, skill, or career path that would mesh well with my Services as your Personal Mortgage Consultant? Lets talk! I'm currently interviewing like minded PROFESSIONALS that practice strong business ethics who are looking to expand their referral sources and referral partners. More specifically, are you interested in joining an exclusive Leads Referral Group? Call or email me for details. You could be in on the ground floor!!!
As the site grows, my various "Great Resources" will be categorized by the state(s) they do business in, and if necessary, regionalized by counyt within the state to create further exclusivity. Can we grow together? You know how to Contact Me.
If you are trying to build your own business, I've also provided some networking information. I hope you find this helpful. I know you will!
-Sean
ps: Scroll down to the bottome for some useful Mortgage Banking and Government links!
pps: Call or email me TODAY and shcedule a FREE Mortgage Planning session! (NOW!:)
MY RI and MA Team of SPECIALISTS
Paul Dion CPA With offices in Newport and Worcester, Paul is well networked in both MA and RI. His commitment to his clients and high service levels will have you referring his practice to others! I've recently negotiated a $50 Gift Certificate to go towards the fee for preparing your returns. Call me today and I'll pass the Gift Certificate on to you. 401-965-9384.
Debbie Blanchet, Coldwell Banker- Debbie is a true veteran in the Real Estate industry, ranking in the top 20 of all RI Realtors in RI for 2 years running. Her 18 years of experience will make your buying and/or selling experience worry free! Let her know you got her number from The Friendly Neighborhood Mortgage Guy. Here it is: 401-743-6137.
Bob Martinelli - Bob is the Relationship Marketing King. His tact and professionalism are 2nd to none. Ask him about the "Gratitude Attitude", he can help you increase your bottom line by implementing simple, but highly effective techniques that can be automated, tracked and are duplicatable! Call Bob at:401-385-9059.
Elisa Pollard, Esq- Experience the ultimate in personalized service. Elisa will single handedly change your perception of attorneys! Whether you need a great Real Estate Attorney to handle your closing or shortsale or you need an Expert in Estate Planning, Elisa should be at the top of your list! Call her office at: 401-647-0022.
Networking opportunities in RI!
Centarl RI Chamber of Commerce -Leverage the many aspects of what many consider to be RI's most member friendly and benefit laiden Chamber!
SK Chamber of Commerce Experience South County's premiere Chamber of Commerce. The dedicated staff provides a unique experience to it's members and community.
Active Rain Real Estate Network: A nation wide community of professionals associated with all facets of Real Estate. With approx. 70,000 members ActiveRain is a FREE site that has a significant amount of information provided by bothe local and national experts. Dozens of blogs are posted daily to help you gather information and make informed decisions!
Narragansett Chamber of Commerce
North Central Chamber of Commerce
Live Wire Like minded Professionals meet every Monday at noon to exchange business referrals and ideas that increase their respective bottom lines! In a tough market, stay ahead of the curve by networking with Top local Professionals! Our Chapter includes a Residential Realtor, Mortgage Consultant, Relationship Marketing Consultant, Real Estate Attorney, Promotional Product and Printer, General Practice Attorney, CPA and a CFP.
The Providence Chamber of Commerce
Friday Morning Conversation Meet us every Friday at 7:45AM (and until about 9:15AM) for coffee, conversation and the opportunity to show case your business and/or your skills. The "On The Go CFO", Jim Ganung leads this seasoned group. The cost for the buffet breakfast is $10.
WannaNetwork Your world wide Real Estate Networking community
Monday Night Networking
GKIC
NoBSRI
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