Sunday, March 04, 2007

We've Moved - Check Out Our NEW Diggs!

Click on hyperlinks below - New Site Is Awesome!

Click Here

to be forwarded to

"Mortgage Cicerone"

The new Blog address will be at:

http://www.tgalleg.typepad.com/

Certain you will be pleased.

Best Regards,

Tony Gallegos

Posted by Tony Gallegos at 16:57:28 | Permanent Link | Comments (0) |

Thursday, March 01, 2007

Did You Know - Shift Happens

Name this country:

  • Richest in the world
  • Largest military
  • Center of world business and finance
  • Strongest education system
  • World center of innovation and invention
  • Currency the world standard of value
  • Highest standard of living

For answer, click hyperlink below:

Posted by Tony Gallegos at 20:28:41 | Permanent Link | Comments (0) |

Bernanke Not Worried About Market Drop

New York Times (03/01/07) P. C5; Andrews, Edmund L.
Federal Reserve Chairman Ben Bernanke told the House Budget Committee on Wednesday that he is concerned about the problems in the subprime mortgage market but added that there is no indication that there has been a spillover effect on the overall economy. A number of subprime mortgage lenders have gone out of business recently, and several others have had to boost their reserves to cover bad home loans. Fed officials have been cautiously optimistic that the housing market is starting to improve. However, the growth in lending to subprime borrowers and the high level of unsold homes on the market remain serious concerns.
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Posted by Tony Gallegos at 17:00:56 | Permanent Link | Comments (0) |

The Power of Planned Presentations

Last week I received a voicemail from my brother Lawrence in Colorado. While listening to his message I could tell he was very excited and dying to tell me about a very successful day he had just concluded. However, before I continue, allow me to step back and set the story up.

Posted by Tony Gallegos at 16:16:25 | Permanent Link | Comments (0) |

Back to the Basics...Blocking and Tackling

On December 17, 2006, I posted a Blog titled; "Yes The Mortgage Business Is Going Through a Shakeup - Be Thankful." In it, I wrote the following:

Over the past few years, the mortgage ranks have swollen from 180,000 to over 300,000 people in the industry.  That's a lot of people who have only known the diamond studded days of the refi-boom.  Unfortunately many only know how to be order-takers, not professional LOAN ORIGINATORS. 

Loan Originators who have been around for 10 to 15 years or more know what it means to ORIGINATE a loan.  It means marketing yourself aggressively, building a reputation, and generating a steady stream of referrals.  They've seen high rates and low rates and they know that this too will pass.  Rates will go down again, and they'll be well prepared to take advantage of the next interest cycle.  Veteran producers aren't giving-up.  Neither should you.  Decide now if you have the determination to stick-it out.  Do you have a passion for what you do?

Be thankful for the shake-up because it means a whole lot of unskilled loan officers will go the way of the saber tooth tiger and stop ruining the reputation of the industry.  Best of all, it means a whole lot more business for you!

As a sidenote, we are also witnessing that this shakeup also applies to mortgage lenders.

Our business will only get stronger.

Posted by Tony Gallegos at 01:19:30 | Permanent Link | Comments (0) |

Applications Rise

The Market Composite Index, an overall measure of mortgage applications, rose from 606.6 to 626.1 on a seasonally adjusted basis during the week ended Feb. 23, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey. Read on...

Posted by Tony Gallegos at 00:51:33 | Permanent Link | Comments (0) |