Wendy McDermott

During Spin class about 30 minutes into class the instructor asks-How we feeling? In a bold excited voice.

Everyone except me says, "Great, Fantastic, yeah!" One woman says, " Give us more!"

All I can think is " I think this is what dying or the start of a heart attack must feel like."

However, I have lost 16 lbs so far this year, so feeling awful must be working. :)

60 MINUTES IN CLASS i COULD NOT EVEN FEEL MY BOTTOM..LOL.

Wendy McDermott

Licensed in GA, KS AND MO

913-890-4440

WMCDERMOTT@STONEGATEMTG.COM

How can you be SURE to lock-in the lowest rate?

Everyone in the process of financing a home faces a common challenge: knowing when to lock your rate. With daily fluctuations in the rate market, the goal is to know when the market "dips" and be ready to contact your agent or lender and LOCK, right? Well, being ready just got a whole lot easier.

As a service to our customers, potential customers and real estate agent partners, Stonegate Mortgage has launched textmyrate.com, a FREE service that allows users to subscribe to daily updates with the latest rate information sent via text, email or RSS feed.

Textmyrate.com eliminates the need to search various websites for daily rate information by conveniently pushing the latest rates to a user's PC or mobile phone. Also eliminating the hassle of shopping for rates, Stonegate offers a $500 guarantee paid to any applicant who can show they've been approved for a lower fixed rate from another lender.

To take advantage of this service, simply sign up from our home page or visit www.textmyrate.com.

Wendy McDermott

Mortgage Advisor licensed in GA, KS and MO

913-890-4440

wmcdermott@stonegatemtg.com

I wanted to pass along some VERY important changes coming directly from Fannie Mae (FNMA) that WILL impact PRICING. These changes are industry wide changes that will impact all investors. In a nut shell most Loan to values and credit scores will see a 50 basis point hit to pricing, even 740+ credit scores will see 25 basis points.

Some investors have already adjusted their pricing to reflect these changes (if we were not a servicer we would have had to immediately change our pricing). We wanted to get this information out to you so you have time to react to the changes and plan accordingly. I would highly encourage you to look at your current deals, which may include clients shopping for homes that are pre-approved. I encourage you to communicate with them that any price improvements (rate improvement) may be offset by the price worsening as a result of the FNMA changes. So now is the time to lock.

Please make sure everyone who is impacted by these changes gets this information.

Stonegate Mortgage will accept fixed rate conventional loans locked-in through the close of business Friday January 21st 2011 under the OLD FNMA Loan Level Pricing Adjustments (LLPAs) with the following restrictions:

1. Maximum lock-in 45 days

2. Loans must close and fund by March 7 with a FIRST PAYMENT DUE DATE of APRIL 1, 2011. We will allow an interest credit up to and including Monday March 7th, 2011.

3. Loans that do not close as described above may be extended but will be repriced to reflect the new LLPAs.

Wendy McDermott

Mortgage Advisor

Stonegate Mortgage

NMLS #258443 licensed in GA, MO and KS

Work Phone: 913-890-4440

Toll free: 888-890-4400, ext 440

Fax Phone: 913-273-1621

Email:wmcdermott@stonegatemtg.com

Time to sharpen that purchase money mortgage saw again!

Monday saw a continuation of gains from Friday but volume was light so not a very convincing day-this morning we show MBS trading very early at just a tick or two under the closing price, and 10 year treasury yield just sneaking over 3.30%. Flight to quality yesterday with more Portugal fears in the headline, as all the southern EU countries cannot seem to get out of the news-nor can Ireland. Today the fears seem less as Portugal says they won't seek a bailout-just as Ireland said just before they took one.

Anyway, today we have light data day except we have a good size 3-year treasury auction that will settle at 1pm ET, and with another big snow event heading for NYC markets will slow down as the city heads to the stores for bread and milk.

Wholesale inventory numbers at 10am today-not a big number but since nothing else to look at will probably get some reaction until 1pm.

Looks like the 3.30 to 3.50 range on 10 year bonds is still holding.

Almost every projection out there is expecting rates to slowly rise during 2011 on better volume and more purchase business and home values (as foreclosures slow way down under pressure from the politicians-less inventory means banks will just have to hold bad loans even longer and buyers will bid on fewer listings) gaining some ground.

Time to sharpen that purchase money mortgage saw again!

Wendy McDermott

Stonegate Mortgaage

913-890-4440

Adapt, change and succeed

2011 is in full sweing and I have already seen forward moving growth.

We live in a country that allows us to take action and seize the opportunities we have.

You will never here me say the mortgage business is easy, but it is amazingly rewarding. For those who move forward and stop talking about remember when.... this time is starting a move into opportunities like we have never seen I believe.

In order to succeed you will need to adapt and change:

• Choose to fire-up your business in 2011
• Always continue to learn your trade, never stop
• Work with forward minded people
• Work with lenders and referral partners with the belief, "Clients come first."
• Find and use new lead sources
• Try a lender with innovative products: rehab loans for FHA and Conventional home purchases

Adapt, Change and Suceed

Wendy McDermott

Mortgage Advisor MO/KS and GA

Stonegate Mortgage

NMLS#258443

913-890-4440

wmcdermott@stonegatemtg.com