Hillary’s accent is back.....

[PaceAdvantage]

Ice pick might be more appropriate if you ask me.

[Greyfox]

Not me.
I don't detect an ounce of human warmth in her. Not an ounce.
Colder than an aluminum toilet seat in the Arctic.

[reckless]

Originally Posted by elysiantraveller

Ahhh... more personal attacks.

Quick Mike jump in and defend it.

When you made a juvenile personal attack towards me just last week, I made a lighthearted response to you.

Unlike you I DID NOT cry like a sissy and pleaded to Mike to jump in as you just did.

As a reminder it was you, child, that brought Trump into this thread. I just love it was people tie themselves in knots over Trump.

Speaking of which, you showed your hand by blaming Trump because you can't close the re-fi deal you mentioned. You probably got the family in the house in the first -- probably not qualified, sad to say. Shades of the 2008-09 financial crisis and putting people in homes they don't qualify.

Blame Trump! Blame Trump!

Your firm erred and you couldn't close a deal that lowered their mtg. only 50 bucks per month on a 200 k house.

Once again, young man, you've proven to us that you simply do not have the goods. I know www this 3 years ago and some of the others on here are catching on too.

But don't forget to Blame Trump! for all your failings.

Oh yeah. Hillary! was responsible for the tragic murder of Benghazi. She was responsible for the Uranium One scandal with Russia. She went after the victims of hubby Bill's rapes, and YOU blame Trump and call him a bigger threat to humanity.

[Tom]

Originally Posted by PaceAdvantage

But...she's white.

...and OLD!

[Tom]

Originally Posted by wisconsin

I am not attacking your business at all. Sorry if it came across that way.

Let me rephrase the question, because I am genuinely curious. Did you make $10,000 less those 2 months, or did you fail to make an anticipated $10,000 more those months?

What business?
No one can even prove HE is real!
He is a anonymous internet entity.
So therefore, is anything he says.

[Tom]

Originally Posted by JustRalph

Are you nuts? She admits to deleting 30k emails that were under subpoena, way after they were subpoenaed

That’s the tip of the iceberg .....

Whatever horsey needs to believe....give him a break, reality is so inconvenient for him some days.

[JustRalph]

Originally Posted by elysiantraveller

I had about 600k pended up waiting for the change to take effect. As long as a loan was clear to close post the rate drop it would get that rate drop.

I understand a quarter point doesn't seem like a lot but first, it wasn't a quarter it was 30bps and on a $200,000 dollar house that translated to over a $50 month drop in monthly payments.

My business is fairly recession proof as I run about 95% purchase and 5% refinance but with the election of Trump we, and most homeowner's, knew rates would be rising. This reduction was an opportunity to anyone in a in a roughly 150k-FHA Max range to get a refinance in while it still made sense.

I had 3 on deck to take advantage of it. That day I had to call all of them up and tell them that its off and it didn't make sense to them. It cost me about 10k and the company an additional 14.

My plan was to run with it solid for the 3-4 months I had the window and then go out and buy my way into another broker's office I was talking to at the time that would have supplemented once the refi's dried up.

So that is a direct example of how Trump has affected me... I have others but its just one that immediately comes to mind.

We cool.

So that $50 dollar a month locked them out of a loan?

Damn........ working those numbers close aren't you?

[elysiantraveller]

Originally Posted by JustRalph

So that $50 dollar a month locked them out of a loan?

Damn........ working those numbers close aren't you?

Believe it or not there are laws regarding this. If I can't present a tangible benefit a refinance is illegal. It's churning.

$50 a month is a payment reduction... it's also a term reduction assuming they keep paying that original amount.

If it goes away what incentive is the for a refinance?

This isn't rocket science guys.

[davew]

Originally Posted by JustRalph

Are you nuts? She admits to deleting 30k emails that were under subpoena, way after they were subpoenaed

That’s the tip of the iceberg .....

.. you mean like wipe it with a cloth? hehehehehe ...

[JustRalph]

Originally Posted by elysiantraveller

Believe it or not there are laws regarding this. If I can't present a tangible benefit a refinance is illegal. It's churning.

$50 a month is a payment reduction... it's also a term reduction assuming they keep paying that original amount.

If it goes away what incentive is the for a refinance?

This isn't rocket science guys.

Therein lies the problem. That’s all it is, churning. To the benefit of guys like you.

Don’t get me wrong I don’t begrudge you doing your job and taking the business, but a lot of those people could get the same benefits without a refi by just changing their payments or habits.

Right or wrong?

[elysiantraveller]

Originally Posted by JustRalph

Therein lies the problem. That’s all it is, churning. To the benefit of guys like you.

Don’t get me wrong I don’t begrudge you doing your job and taking the business, but a lot of those people could get the same benefits without a refi by just changing their payments or habits.

Right or wrong?

Wrong.

We are talking about Mortgage Insurance Premiums...

200k house with the old rule is $1700 year.

Same house and new/Trump cancelled (for no logical reason) is $1100.

Apply that to principle instead and it's an automatic 2-4 year term reduction OR a reduction in monthly payment of $50.


Additionally:

Average house with 28 years left is paying $1040 on P&I at 4.5%

At 30 years again they are paying $1015.

The MI premium isn't included in that... anyway you slice the refinance was a net win for the customer. MI premiums are also useless to the borrower... it's literally throwing away money. If you could save $50 on insurance would you switch if all else is the same?

It's also so streamline so it costs them literally nothing.

[JustRalph]

Good info. I parked my Real Estate license a few years back, so I’m out of the loop on many of the current changes.