Originally added on May 23, 2008 at 10:20AM PST:
Jasen Nuetzmann Earns Lending Integrity Seal of Approval
Achieves Status For Professionalism in the Mortgage Business
Seattle, WA – May 23, 2008 – Atlas Mortgage, Inc. today announced that Jasen Nuetzmann has earned the Lending Integrity Seal of Approval from the National Association of Mortgage Brokers (NAMB). The new seal recognizes individual brokers and loan officers who meet the industry’s highest standards for knowledge, professionalism, ethics and integrity.
“I am proud to bestow this symbol of excellence on Jasen Nuetzmann,” said George Hanzimanolis, President of the National Association of Mortgage Brokers. “By earning this recognition, Jasen has demonstrated a strong commitment to achieving the highest ethical standards in the mortgage business.”
In order to display the Lending Integrity Seal, a broker or loan officer must:
· Pass a national criminal background check.
· Possess a state license or registration.
· Submit three business references (new members only)
· Attend professional education, including ethics training.
· Live up to NAMB’s Code of Ethics and Standards of Best Business Practices
· Pledge to abide by NAMB’s formal ethics grievance review process.
When a loan officer or broker displays the Seal, it means they have voluntarily met the only national standards for mortgage originators, established by the National Association of Mortgage Brokers.
“The Lending Integrity Seal of Approval is transforming the mortgage industry,” Hanzimanolis said. “We believe it will soon become to the mortgage industry what the Good Housekeeping Seal of Approval is to the makers of consumer products.”
For more information on the Lending Integrity Seal of Approval, visit www.lendingintegrity.org.
Contact Jasen Nuetzmann at Atlas Mortgage, Inc., 3503 188th Street SW, Lynnwood, WA 98037. 425.771.2311 xt. 103 jasen@atlasmortgages.com http://www.jasenn.com.
The National Association of Mortgage Brokers is the voice of the mortgage broker industry with more than 25,000 members in all 50 states and the District of Columbia. NAMB provides education, certification and government affairs representation for the mortgage broker industry, which originates over 50% of all residential loans in the United States.
Jasen Nuetzmann Earns Prestigious National Mortgage Industry Certification
Seattle, WA – July 28, 2008 – Jasen Nuetzmann, a mortgage broker at Atlas Mortgage, Inc. in Lynnwood, WA, became one of only a small percentage of mortgage professionals to attain the standing as a nationally recognized Certified Mortgage Consultant. Jasen Nuetzmann passed the NAMB written certification examination on July 2, 2008 in Redmond, Washington.
The Certified Mortgage Consultant is administered by the National Association of Mortgage Brokers (NAMB) and is developed through extensive research by industry experts in the mortgage industry. This certification is gained only once the candidate has met certain requirements of experience and knowledge of the mortgage industry and has passed a rigorous examination. Certified Mortgage Consultants have also agreed to abide by a Code of Ethics.
Jasen Nuetzmann has been a mortgage broker for nine years, the last seven with Atlas Mortgage, Inc.
The National Association of Mortgage Brokers is a not-for-profit organization committed to promoting the highest degree of professionalism for members and to provide ethical and professional standards against which mortgage brokers and other mortgage professionals can be measured. NAMB accomplishes its mission by setting certification and continuing education standards for mortgage brokers and through public education.
The National Association of Mortgage Brokers is the voice of the mortgage broker industry with more than 25,000 members in all 50 states and the District of Columbia. NAMB provides education, certification and government affairs representation for the mortgage broker industry, which originates over 50% of all residential loans in the United States
Originally added on July 18, 2008 at 1:00PM PST:
Are My Deposits Safe?
The closure this week-end of Indy-Mac Bank (Pasadena, California) has prompted questions from depositors at other banks and credit unions as to the safety of their deposits. Banks and credit unions doing business in Washington State have federal deposit insurance through the Federal Deposit Insurance Corporation (FDIC) for banks and the National Credit Union Administration (NCUA) for credit unions. The NCUA’s deposit insurance is called the National Credit Union Share Insurance Fund (NCUSIF).
Basic Deposit Insurance Coverage
In general, the FDIC and NCUSIF provide depositors with $100,000 in coverage for their individual deposit accounts. These accounts include savings, checking, money market, and certificate accounts. Individuals with account balances totaling $100,000 or less at the same insured bank or credit union have full FDIC (for banks) or full NCUSIF (for credit unions) coverage.
Retirement Accounts
Certain retirement accounts, such as Individual Retirement Accounts, are insured up to $250,000 per depositor per insured bank or per insured credit union. For bank information from FDIC, see http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html and “certain retirement accounts”. For credit union information from NCUA, see http://www.ncua.gov/Publications/brochures/FCUFacts/HowAccountInsured.pdf and “Does NCUSIF provide additional coverage”.
Additional Deposit Insurance Coverage
If you have more than $100,000 in an individual bank or a individual credit union, you may want to use the FDIC guide (for bank deposits) available at http://www.fdic.gov/edie/ or the NCUSIF estimator (for credit union deposits) available at http://webapps.ncua.gov/ins/ . Additional insurance coverage is available based on rules from the FDIC or NCUA regarding retirement accounts and other types of accounts, such as trust accounts. You should also call your bank or credit union to discuss deposit insurance coverage in excess of $100,000 per individual.
Frequently Asked Questions (FAQ) about Deposit Insurance
FDIC has a great FAQ about deposit insurance, available at http://www.fdic.gov/deposit/deposits/deposit/faqs/index.html . NCUSIF has similar FAQ available at http://webapps.ncua.gov/ins/InsuredFunds/FAQ.htm .
Financial Statements
If you are curious about the financial health of your bank or credit union, they post quarterly financial statements on the FDIC or NCUA website.
Still Have Questions?
Call the WA Department of Financial Institutions (360) 902-8700 or 1-877-746-4334.
Originally added on June 23, 2008 at 10:00AM PST:
New Program to Improve Your Credit Scores!
I’m pleased to announce that Atlas Mortgage has teamed up with one of the industry’s leading credit providers to offer a new credit coaching service that can help you improve your credit scores.
Recent changes made by Fannie Mae and Freddie Mac now impose significantly higher interest rates depending on your credit score. For example, a credit score of 650 would result in an interest rate approximately ½% higher than if you had a 700 credit score. If you had a $250,000 mortgage that 650 credit score would cost you $30,000 over the life of the loan!
Insuring that your credit scores are as high as possible is more critical than ever before. Through our new automated credit coaching program AVAIL you can get specific recommendations and advice on how to accomplish that.
If you’re interested in learning more here is a link to a brief 5 minute video that gives you an overview of this new program:
http://www.availcoach.com/avail/
Don’t hesitate to call (425.771.2311 xt. 103) or e-mail (jasen@atlasmortgages.com) if you’d like to learn more.
Originally added on April 15, 2008 at 4:30PM PST:
New Credit LockProgram Announced
On January 22, 2008, mortgage rates fell quickly and without warning. Rates touched levels not seen in five years and stayed there for a period of about five hours. During those few hours we were on the phone with as many clients as possible. Most of those calls went something like this:
Jasen: “Mortgage rates have plunged; you should consider a refinance to the new lower rates.”
Homeowner: “Thanks for calling! What are the rates today?”
Jasen: “The 30 year fixed is as low as 5.25% (assumes a no cash out re-finance with excellent credit and a loan at 80% or less of the home value). It hasn’t been this low for five years!”
Homeowner: “Let me think about it, I’ll call you back and let you know.”
After just those short five hours, the 30 year fixed mortgage started a journey that brought the rate from 5.25% to 6.625% in less than a month. This happened because the Fed Funds Rate was lowered faster and further than at any other time in history. This, coupled with the passage of the economic stimulus package, made markets fearful of long-term inflation, and inflation is the #1 enemy of low long-term mortgage rates.
Since that time interest rates have remained extremely volatile with rates sometimes swinging as much as 0.500% during a single day. While rates have not touched that low of 5.250% again they have, on occasion, gotten very close. Our new CreditLock program is designed to help you inform us of the “target rate” at which a re-finance makes sense and authorize us to lock you in automatically should rates reach those levels again.
Don’t get locked out this time. Enroll in our new CreditLock program today!
Atlas.CreditLock.lr.pdf
Added on April 3, 2008 at 12:30PM PST:
Increased Federal Loan Limits Lower Price Tag on Hundreds of Thousands of Loans—Seattle Area limit now $567,500!
One immediate benefit of The Economic Stimulus Act of 2008 is the increase in loan limits for high-cost areas of the country. By raising the Federal Housing Administration’s loan limits on what qualifies for lower-cost FHA, Fannie Mae and Freddie Mac loans, the bill could help a number of families purchase or refinance their homes at a lower cost.
Combined with record low interest rates, the change could indeed help to stimulate the struggling housing market that is creating such a drag on our overall economy.
The increase is only temporary, however, and is scheduled to expire on December 31st of 2008 unless renewed by Congress. If you purchased your home in recent years with a “jumbo” loan and paid a premium interest rate, or if you split your financing up into a first and second mortgage “piggyback” or “combo” loan to avoid the jumbo pricing, this could represent a great opportunity for you.
Underwriting standards are slightly more stringent and these loans are being priced slightly higher than the “old” conventional loans (of up to $417,000) as well so it is critical that you consult with a licensed and certified Mortgage Planner to evaluate all of the potential financing solutions that could help you best achieve your financial goals.
Originally added on September 20, 2007 at 12:30PM PST:
Despite what the media would have you believe, rate cuts by the Federal Reserve don't affect long-term mortgage rates. See my letter to the editor of the Seattle PI on this subject by following the link below:
http://seattlepi.nwsource.com/opinion/332333_ltrs20.html
WA License #510-LO-22251
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