I wanted to share an absolutely amazing story of team work and motivation. I work with a fantastic team in my Home Savings of America office. We have a small but very successful group of loan originators and an off the charts Operations Manager who works as a processor and underwriting assistant.   We often pick up business from large retail banks that are overwhelmed with foreclosures and have underwriting turn times that can be as long as 5 or 8 weeks. In this market, buyers are nervous as it is and agents want to feel confident that they are working with a lender that can work under pressure and close a transaction without have to ask for commitment extensions and P&S extensions. One of the top originators in my office received a call from a frustrated agent that was at the end of h... 04/19/2011

365 Things to do in Worcester County - Celebrate earth day at Ecotarium in Worcester.  This is a vacation week for our schools in Worcester County.  And Ecotarium has a program to keep kids entertained and educated. April School Vacation at the EcoTarium Tuesday, April 19 - Friday, April 22 Extreme Earth Week and the Earth Day Festival School Vacation Activities Straight from the headlines -- discover the science behind natural disasters like earthquakes, tornadoes, volcanic eruptions and more! See a model volcano erupt, shake like an earthquake and find out what's causing our planet's most extreme (and destructive) weather phenomena during a school vacation week dedicated to weather and geology. Hands-on science activities and demonstrations throughout the day. Natural Disasters - Hand... 04/19/2011

This is one of my all-time favorites. My Dad would always sing this one to my Mom as it was one of his favorites too. ENJOY! 04/18/2011

Last week saw rates start to fall Thursday and into Friday as inflation data was not as hot as expected. Another data point that created some downward pressure on rates was that company earnings led by JP Morgan, Google, and Bank of America were not as good as hoped. This is leading investors to take some money out of the equity market and put it into bonds as a way to protect themselves if we have a market correct/pullback. The coming week is relatively quite in terms of data points. Tuesday we have Housing Starts: A housing start is registered at the start of construction of a new building intended primarily as a residential building. The start of construction is defined as the beginning of excavation of the foundation for the building.    Wednesday we have Existing Home Sales: Existi... 04/17/2011

I have been implementing a few new ideas to grow my business over the last couple of months and it's been helping. I divide my time between working and training martial arts specifically jiu jitsu. For those who don't know what that is, it's basically wrestling with submissions and joint locks. It's a grappling art. I teach a few classes at the academy where I train and I have a lot of young men in my classes that don't have a lot of extra money. So I thought it would be nice if I could help out one of them with a little extra income at the same time building exposure and business. Here is what I did: 1) Had him set up his own marketing company. Now that sounds fancy but it's just a way he can do work for me and have it a legit above board business 2) He goes around to pizza places and... 04/16/2011

365 Things to do in Worcester County - See Children of Eden at Hanover in Worcester.  Children of Eden is based on the bible stories of the old testament.  It is set to music and sports a large chorus.  My daughters played the animals in Noah's part when they were little.  And now "Childrne of Eden" is coming to Hanover. Katie Bilotta of ERA Key Realty, was given a few dozen HALF PRICE tickets (ONLY TEN DOLLARS per ticket) to sell for charity for an upcoming show on Sunday, April 17 at 2pm at the Hanover Theater in Worcester, MA. It is cheaper than the movies. Right?  If you or anybody you know is interested, have them contact Katie at katie.bilotta@erakey.com.  Short notice is no problem, Katie is helping out and wants to hear from you. If you don't have creative ideas until last minut... 04/14/2011

365 Things to do in Worcester County - enjoy your carbs at Panera in Worcester.  Not far from my office on Grove Street in Worcester is a Panera Bread restaurant.  For those of you who might not be familiar with Panera, it is like a Dunking Donuts with an extended bread, pastry and sandwich selection.  When we have an hour or so, my husband and I sneak away for some "alone" time and enjoy a snack and coffee at Panera.  The bread loaf there is so fresh that I've been known to order just that.  On this occasion, my husband got a three cheese bread and I, trying to stay away from carbs (wrong place, right?), ordered steak chili.  I do not enjoy spicy foods so I asked if the chili was hot.  I was warned that it had a bite to it and they were right.  The chili was at the top range of my comf... 04/13/2011

FHA is changing their Mortgage Insurance Premium Guidelines in just a few days. This is so important to understand because it could effect the amount of home a prospective home buyer could potentially afford. It could be the difference of $5,000 on a purchase price. So make sure you loan officer is keeping themselves updated on the changing industry. Here is what the change will look like        FHA has to make these changes in order to generate more revenue so they can cover their capital reserve requirements as laid out by the FDIC.       04/13/2011

The FHA quarterly guideline book is like a holy book for loan originators and processors. Buried within those pages are the hear and soul of today's mortgage market. It's the key to a smooth or in some cases not so smooth underwriting process. It can be the key to home ownership, but it is also something that can trip up even the most seasoned loan officer. As a loan officer it's so important to study my craft and stay up on changing guidelines and new FHA regulations. I want to touch base on a few FHA guidelines for everyone to keep in mind when looking at FHA multi family lending. The Following Guidelines Pertain to 3 & 4 unit properties 1) When using a non occupying co-borrower on the application the maximum Loan to Value (LTV) is 75%. This is much different than the 96.5% for 1 or ... 04/12/2011

I've been humming this song all weekend, so I thought it would be a good one post! Bruno Mars is an American singer-songwriter whose music was inspired by both Michael Jackson and Elvis Presley. His newest hit, "Grenade" is one of my favorites. ENJOY! 04/11/2011

  This week looks to be the most active week for rates in several weeks. There is a calendar full of economic data points that could swing the bond market either way. The 3 Major Factors to Impact this Weeks Rates are 2nd Quarter Earnings-AA Alcoa opens up the 2nd quarter earnings season this week followed by the bank. This is something to really pay attention to. Has the increase in fuel prices hurt companies bottom lines this quarter? Has the export market been hurt by the Japanese crisis? Or will this market continue to push high despite all of this and still high unemployment. This week will be very telling for how earnings will trend. Wed. 10yr Treasury Auction-The past few 10yr treasury auctions have been met with high demand which is important for keeping interest rates low. The ... 04/10/2011

417 Mill Street WORCESTER, MA First time homebuyers, take notice! OWN YOUR OWN HOME, STOP RENTING! With alittle TLC, this home could be a diamond in the rough! Low taxes and low ma 2BR/1BA Single Family House $135,000 Year Built 1943 Sq Footage 1,064 Bedrooms 2 Bathrooms 1 full, 0 partial Floors 1 Parking Unspecified Lot Size 9,000 sqft HOA/Maint $0 per month DescriptionFirst time homebuyers, take notice! With alittle TLC, this home could be a diamond in the rough! Low taxes and low maintenance fees. Fireplaced living room, fully applianced kitchen, nice backyard and minutes away from Worcester State University. Property Features FireplaceDining roomRefrigeratorStove/OvenBasementWasherYard Community Features Storage space(s) Other Special Features Tatnuck area Additional Photos Photo 1... 04/10/2011

365 things to do in Worcester County - visit your Chiropractor in Worcester.  Ask any contestant on Dancing with the Stars and they will tell you that their competition is as difficult to train for as any sport.  And as with any sport, injury is part of the experience.  Being an avid dancer and gearing up for competition in May, I too have been spending countless hours practicing my routines.  I have been having a pain in my shoulder for a few months now and like the trouper that I am, I chucked it up to getting older.  Well, this week, when doing the Waltz basic class our instructor asked us to raise our arms in a circle in front of us.  My circle seamed so lopsided that I asked my instructor why she thought that was.  She told me that my wrist was bent in my right arm.  I explained th... 04/08/2011

365 things to do in Worcester County - See Disney on Ice: Princess Wishes in Worcester.  A few times a year, I get nostalgic for my daughters being little again.  No, it really doesn't happen very often, but when the circus or Disney on ice comes to town, I reminisce how fun it was to see the world through their young eyes. Even though, my daughters are teenagers, I can still recommend this as one of your 365 things to do in Worcester County - See Disney on Ice: Princess Wishes in Worcester.  So take note, the show, Disney on Ice is coming to the DCU center in Worcester this weekend 04/08/2011 - 04/10/2011. So dress your daughter in the prettiest princess gown, grab the camera and head on down to the DCU to join the ice scatting princess and make this your 365 things to do in Worcester ... 04/07/2011

The popular Curtain Factory Outlet in Northbridge will be reopening this weekend under new ownership. Bay State Floor Co., of Northbridge has purchased the company. Still located at the Rockdale Mill on 8 Sutton Street in Northbridge, the now named, Curtain Factory will reopen its doors on Saturday, April 9th at 10.Bay State Floor Co., was founded in 1996 by Patricia Cloutier. The flooring company is located in the same building and specializes in full service commercial and residential flooring. The Curtain Factory will continue its tradition of specializing in offering a wide selection of quality window fashions at competitive prices.Also located in the same building is the new Rockdale Rug & Braid, owned by Cindy Johnson. Rockdale Rug & Braid specializes in area rugs and braided rugs... 04/07/2011

I just wanted to do a quick blast for everyone so they have a refresher of the fantastic FHA 203k Streamline loan. This is a great opportunity to but a owner occupied fixer upper and use the bank's money. When evaluating the property it's crucial to keep in mind what is an eligible improvement and what isn't. Examples of Eligible Repairs: Repair/Replacement of roofs, gutters, and downspouts Repair/Replacement/Upgrade of existing heating, ventilation, and air conditioning systems Repair/Replacement of plumbing and electrical systems Repair/Replacement of flooring, however the repair of sub-floors is not because it is considered structural Minor remodeling such as kitchens that does not involve structural repairs and/or any change to load-bearing walls Exterior and interior painting Weath... 04/06/2011

The loan originator compensation change that was delayed with a last minute injunction on March 31st has been put to rest. The NAMB, Nation Association of Mortgage Brokers among others had pushed back on the compensation overhaul stating that it was not constitutional and it reduced the consumers' choice for financing. The group had bought a few days to make their case but it was ultimately shot down today. Here is what the court said today  "Upon consideration of the emergency motion for expedited relief and the emergency motion to stay implementation of final rule pending appeal, the response thereto, and the reply, it is ORDERED that the administrative stay entered on March 31, 2011, be dissolved. It is FURTHER ORDERED that the motions be denied. Appellants have not satisfied the st... 04/05/2011

365 things to do in Worcester county - Listen to Women composers in Worcester. On Wednesday, April 6, 2011 and April 13, 2011 @ 10:00 AM to 12:00 PM, Music Worcester, Inc. is sponsoring a lecture on Female composers.  I spent some time and did some research on Female composers in the 20th Century and here is an alphabetical list: Mary Anne à Beckett (1817–1863) Keiko Abe (born 1937) Rosalina Abejo (1922–1991) Lora Aborn (1907–2005) Harriett Abrams (1758–1821) Ella Adayevskaya (née Schultz) (1846–1926) Maria Teresa Agnesi (1720–1795) Lejla Agolli (born 1950) Graciela Agudela (born 1945) Countess Maria Theresia Ahlefeldt (1755–1810) Sieglinde Ahrens (born 1936) Doris Akers (1923–1995) Yoshino Aoki (born 1971) Toshiko Akiyoshi (born 1929) Alamanda de Castelnau (fl. second half of 12th cent... 04/05/2011

Thought this song was appropriate for today because today is my 49th birthday. One more year before I hit the big "5-0". Course age is just a number, so they say! The Beatles were one of my Mom's favorite bands back in the day and they also are known for singing my namesake "MY MICHELLE". ENJOY! 04/04/2011

After an action packed week of economic data last week, this coming week is pretty quite. The only market moving data point is the release of the FOMC minutes on Tuesday at 2pm. This always comes 3 weeks after the prior meeting and will give us some insight as to what the Fed members were saying about the economy, future rate hikes, and future inflation fears. The overhang of Japan's disaster seems to be wearing off but the Middle East tensions are flaring up. We saw another spike in oil prices the second half of last week and it's only a matter of time before the stock market gets scared and pulls back because of that. I think short term if we can stay under $110 a barrel we will be ok, but once we crack that level the consumer spending power could have a negative affect on GDP. Last ... 04/03/2011