Web site Performance

Care to check how a favorite web site does in performance?  Here is a great free site that checks for spelling, broken links and load time for web sites- very informative. 

Community Night at FC Dallas:

The Frisco Chamber of Commerce and FC Dallas are partnering for a special event on April 24th from 6pm to 9:30pm.  Contact Matthew Harber for details- 214-705-6744.

Frisco Chamber Candidate Forum:

Can’t make the above forum but want to meet all the candidates – now you can. April 21st starting at 6pm at the Collin College Preston Ridge Campus Event Center.

Frisco Cycling Club Meeting:

Tonight at 7:15- we meet at the Richardson BikeMart Frisco Location for our Monthly meeting.  All are welcome and we will be selling the remainder of the clothing we received at tonight’s meeting.

KU Flag Is Safe!!

If you remember, Julie graduated from the University of Texas and I hail my alliance to the University of Kansas.  At our house, the school ranked highest at that time in the Big 12 gets to fly that school’s flag out front.  Kansas won the 2008 National Basketball Championships!!!  She even said I could buy championship gear for the boys to wear…what a good sport!  

Why Go Flat Fee?

I get asked this all the time as well as, ”why would I pay you a flat fee of $1500 when the other guys charge either a 1% or no fee at all?”  I started to recognize that many clients came to me asking for zero origination and zero points charged. I disagree with that style of loan structure.  The reason is if I give you that style of loan, then the Lender pays a Mortgage Broker by increasing your interest rate so you end up paying over a 30 year period instead of getting a lower rate. Granted, if you buy a home you know you will sell in 1-3 years it can be a viable options.  

 

I landed on my flat fee concept after following a Rotarian principle- Is it fair to all Concerned?  I was having problems justifying, when I charged a 1%- making more on one transaction than the other.  When the same work goes into each file, for the most part.  So, I went to work reviewing my past files.  I looked at the hours it takes to negotiate a deal, work the loan, manage the back-end process, covering the costs while still making my clients happy.  And here we are today- a company based on a 1 time- $1500 fee paid at closing.  Next question is, “will it stay at $1500?”  All I can says is, if the current underwriting protocols continue- then no- I will have to raise that up a bit.  The time we spend on a file vs. 8 months ago when I started this program have changed.  Lenders are requiring more and more from the clients and some of you have already felt that change.  My advice- close soon while I am still at $1500

New Term For A Foreclosure:

The new term that is used to describe a person claiming foreclosure is “the walkaway.”   Fannie and Freddie are looking to make folks rethink walking out on their mortgages.  Both are releasing new guideline changes for how Lenders can approve a file after a foreclosure appears on the clients credit history.  You will need to bring at least 10% down, have a 680 or better FICO score and have to write a letter explaining the foreclosure.  Fannie now says 5 years must pass before you can get a loan and Freddy says 7 years.  I can’t say I agree with this change,  as it will have folks turn to other sources of lending that might not be optimum. In few years, we could get ourselves back in this sub-prime mess again.  The only true answer is to be patient, rent and rebuild your credit score while you wait it out.

How Far Did You Ride Your Bike Sunday?

The professional riders who participated in the 106th Paris-Roubaix aka “Hell of The North” rode 161 miles!  Of those, 32 were on the famous Pave’!  Not your average roadway we think about here in the States. The 2008 winner, Tom Boonen, riding for Quick Step rode to victory on a Specialized bicycle…the company I worked for in a past life.

Get Your Political Fix:

A friend and fellow Rotarian developed this site to bring Frisco/Texas residents up to speed, politically speaking.