I wanted to pass along this information from our local USDA office in North Fort Myers.

They are now taking 30 days to underwrite a file starting on files from 12/18 on. They were taking 10 to 15 days before today so this is not good news for any USDA buyer.

Hopefully you will be able to prepare your buyers and sellers for this long delay until USDA/Rural Housing can get caught up.

Here is the e-mail we received today.

From: Roy, Kristine - Royal Palm Beach, FL
To: Prioleau, Angela - Royal Palm Beach, FL
Sent: Mon Dec 28 12:14:11 2009
Subject: 30 Day Email to Lenders

Though we have taken every possible measure to process your Guaranteed Loan request, due to the extensive volume experienced, we will not be able to underwrite your request by December 31, 2009. The current turn time for underwriting is averaging 30 calendar days from the date of submittal.

We apologize for any inconvenience that this may have caused.

Sincerely,

Angela S. Prioleau

Area Director

Dr. Mack Paschall closed on his new home with Hart Mortgage Services and we are very happy for him! He was a great client for us and a pleasure to work with.

Here is what Dr. Mack Paschall had to say about working with Hart Mortgage Services:

If you need the services of a mortgage company, I strongly recommend Hart Mortgage Services. Having never gone through the process of purchasing a home (yes, a real first time buyer), I was concerned about finding people that I would feel comfortable working with. Tim and Kristin made the process very clear and understandable.

One of the most important things to me, however, was being kept informed of where things were as we made progress. As we went through the process they explained what was happening and why. I don't think I could have found a more professional and supportive group to work with.

Would I use them again? Absolutely. If a friend asks for a recommendation for a mortgage company, I will definitely recommend Hart Mortgage Services.did such a wonderful job for me!

Sincerely,

Dr. Mack Paschall

Click here to view more picture of Dr. Mack Paschall's Closing.

You may or may not have seen this one coming but it is here! YSP is being banned and it will happen before the year is over.

Don't believe me?

Please read the Wall Street Journal article by clicking here: YSP is Going Away

In case you don't want to read the entire article let me give you a quote that is in the middle of the page.

The Fed proposal would effectively ban the side payments known as "yield spread premiums" by prohibiting payments to mortgage brokers or loan officers based on the loan's interest rate or other terms. It also would bar steering consumers to higher-cost or riskier loans in order to increase the broker's or loan officer's compensation.

I know it sucks!

What are you going to do as a Mortgage Broker when you can't make any YSP?

You can probably say goodbye to at least a third to half of your income.

You can still close your loans and make the money you deserve!

YSP is going away so make sure you are prepared and know what you are going to do.

I have room for three Loan Officers and that is all I am taking. If you re interested please keep reading. Do not stick your head in the sand because you are going to get blindsided if you don't act soon.

Here is some of my companies information so please feel free to contact me. Please remember that we are looking for top producers and top producers only. Good luck!

Why join our team?
* Locally owned and operated
* FHA, VA, Conv, USDA Lender-DIRECT LENDER!!
* Leads provided but more importantly will show you how to create your own leads!
* Positive upbeat office and coworkers
* Hard working and professional loan processor ready to close your loans!
* Website that is averaging over 7,000 hits a month from new home buyers!
* Close your loans within a couple weeks and many more great highlights!

Do you have the following qualifications?
* Hard working- There is money to be made in the mortgage business so are you willing to come in early and stay late to hit your goals?
* Positive and optimistic attitude- The past is over!! Our current real estate market is extremely busy and we want people to see the good in all situations. Do you?
* Aggressive- Do you have a burning desire to succeed and live a prosperous life?
* Coachable- Are you open minded and willing to embrace new ideas to help your business grow?
* Professional- Is your attire, language and demeanor business professional?
* Character- In this economy the people with true character shine and are having a great year! Are you ready for 2009 to be the best year of your life?

Are we looking for you? If so, please reply to this posting or call me at 239-437-4278 ext 11 so we can set up an interview. We look forward to hearing from you!

P.S. We can also discuss pay splits over the phone.

Congratulations

Hart Mortgage Services has added in a new section for it's website and newsletter which will feature locally owned and operated businesses with the hopes to inform many of their Florida Mortgage clients of reputable businesses.

This month we started with one of our most recommended companies: SouthWest Heating and Cooling. The owner Jason Dunn and his Climate Specialist Travis Smith, were nice enough to spend a few minutes with us to discuss their business and what they have planned in the future.

Here is a brief excerpt from the interview and we hope you find some useful information:

Has Southwest Heating and Cooling done anything to become a leader in environmentally safe air conditioning products? Yes, not only do we promote top seer A/C units we have concentrated on the new R410a refrigerant systems. Most air-conditioners and heat pumps sold around the world use a refrigerant called R-22. Emissions of R-22 are considered by some experts to be a significant factor in depleting the ozone layer that protects animals and people from the Suns harmful rays. Families now have the choice to ask for an air-conditioner or heat pump that uses a more efficient and environmentally friendlily refrigerant called 410A or R-410A when buying a new system for their home.

Please check out the rest of our interview with SouthWest Heating and Cooling by Clicking Here.

You can reach SouthWest Heating and Cooling at 239-440-0369 and they would be happy to help you out anytime or answer any of your questions.