Mortgage Tips Archives - Page 8 of 177

Apache is functioning normally

January 10, 2024 by Brett Tams

Regional bank M&T Bank Corp. said today that fourth-quarter earnings slid 70 percent thanks in part to the falling value of its CDO holdings and higher provisions for loan losses.

M&T’s fourth-quarter income dropped sharply to $64.9 million, or 60 cents a share, compared to $213.3 million, or $1.88 per share, during the same period last year.

Analysts polled by Thomson Financial had expected fourth-quarter earnings of $1.63 a share on average.

“The past year was marked by unprecedented turbulence in the financial markets and, in particular, in the residential real estate arena,” CFO Rene Jones said in the earnings release.

The company took a $127 million charge in the fourth quarter related to the falling value of its collateralized debt obligation holdings, reducing earnings by 71 cents per share.

On a positive note, the bank said it reduced its exposure to the risky investments to just $4.4 million as of December 31, 2007.

“M&T has quickly taken the necessary actions to appropriately address a few areas of heightened concern,” Jones added.

“We have eliminated all but $4.4 million of our exposure to collateralized debt obligations backed by residential mortgages and have adequately reserved for losses inherent in the Alt-A residential real estate loan portfolio.”

The Buffalo, NY-based bank pumped up its loan loss reserves to cope with rising mortgage defaults, setting aside $101 million during the quarter, up from just $28 million the prior year.

The total provision for credit losses in 2007 totaled $192 million, up from $80 million a year earlier.

Net loan charge-offs for the year totaled $114 million, or .26% of average loans outstanding, including $53 million in the fourth quarter, up from $68 million, or .16% of average loans in 2006.

“While it is likely that weakness in this sector will continue for some time, we believe that our exposure to residential real estate has been appropriately provided for,” Jones added.

Source: thetruthaboutmortgage.com

Apache is functioning normally

January 9, 2024 by Brett Tams

According to Freddie Mac’s annual ARM survey released today, the benefit of choosing an adjustable-rate mortgage as opposed to a standard fixed-rate mortgage has diminished.

“Disruptions in the capital markets beginning in August and an increase in delinquencies on ARM product has led to a sharp decline in interest-rate discounting and a tightening of credit underwriting on ARMs in recent months,” Freddie Mac’s chief economist Frank Nothaft said in a statement.

The Spread Changes Over Time…

ARMs are always discounted relative to fixed mortgages
But how much of a discount you receive
Will vary over time based on lender/investor appetite for certain loan products
Be sure the rate discount justifies the risk of a higher adjustment in the future

“A year ago, the initial rate discount on the popular 3/1 ARM and 5/1 hybrid ARM products was about 1.8 percentage points,” added Nothaft. “In our latest survey, the rate discount had virtually disappeared on these products.”

In recent months, fixed mortgage rates have priced very similarly to ARMs, with the 30-year fixed mortgage averaging 5.87 percent last week, according to Freddie’s latest rate survey.

The one-year averaged 5.37 percent, and the five-year fell to 5.63 percent, but such a slim margin isn’t worth the downside risk to most consumers.

The study also found that introductory teaser rates for ARMs were similar to or above those from a year ago, even though the fed funds rate had fallen from 5.25 percent to 4.25 percent since that time.

Consumers Lost Interest in ARMs as Rates Increased

The ARM loan share hit its lowest point since 2003
Thanks to unattractive starting rates on ARMs
As the market shifted homeowners opted for fixed mortgages
Though the trend can certainly reverse in the future

Accordingly, the total market share of adjustable-rate mortgages began falling in mid-2006, hitting its lowest level since 2003 last October at just 17 percent of loan applications.

“Consumers respond to changes in the relative cost of different loan products. As ARMs became more expensive relative to fixed-rate loans during the closing months of 2007, the ARM share of lending declined,” explained Nothaft.

In previous years when values were rising, ARMs held about 25 to 35 percent of the market, but once the downturn was realized, market share dropped off steadily.

A decade ago, ARMs accounted for just 10 percent of the total loan applications tracked by Freddie Mac.

Nothaft noted that the 5/1 ARM was the most widely available and popular of the adjustable-rate products, offered at more than 90 percent of mortgage lenders examined.

“A 5/1 hybrid ARM provides the consumer the comfort of knowing that the interest rate will be fixed over the first five years of the loan. However, the interest rate may jump as much as five percentage points on the fifth anniversary. Thus, the product has been popular with families who plan to have the mortgage for five years or less,” he said.

Research also revealed that the initial rate on jumbo 1-year ARMs was about one-quarter of a percentage point higher than like conforming loans, the largest gap in seven years, according to Freddie Mac’s surveys.

I made a graph showing ARM market share from January 1995 to November 2007, based on data from Freddie Mac.

Source: thetruthaboutmortgage.com

Apache is functioning normally

January 9, 2024 by Brett Tams

Home » Make Money » Systeme.io Review

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Updated: January 8, 2024
5 Min Read
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Systeme.io has emerged as a versatile tool in the digital marketing landscape, often met with initial skepticism due to its bold claim of being an all-encompassing, free platform. This skepticism is not uncommon; many assume that a free, all-in-one software solution might compromise on quality.

However, as experienced firsthand, Systeme.io defies these expectations, offering robust functionality that genuinely surprises new users.

The platform serves a multifaceted purpose, aiming to simplify the digital marketing process. It’s designed for entrepreneurs and businesses seeking an integrated solution for email marketing, sales funnels, website building, and more. The importance of such a tool lies in its ability to streamline various marketing tasks, which are often scattered across different platforms, into one cohesive system.

How Systeme.io Works

The user interface of Systeme.io is a standout feature, characterized by its user-friendly design. This ease of use is particularly appealing to those who are new to digital marketing tools. The interface is intuitive, making navigation and operation straightforward, which is a stark contrast to the often complex dashboards of similar tools.

At the core of Systeme.io are several key features that make it a comprehensive digital marketing solution. These include email marketing capabilities, sales funnel creation tools, a website builder, options for hosting membership sites, and affiliate program management.

Each of these features is designed to work seamlessly with the others, providing a unified experience. For instance, the email marketing service is notably efficient, rivaling established providers like ConvertKit, AWeber, and MailChimp, especially with its free subscription model that remains functional up to a certain point.

Features of Systeme.io

Email Marketing: Systeme.io’s email marketing tool is not just about sending emails. It allows you to segment your audience, create personalized email campaigns, and track the performance with detailed analytics. For instance, you can segment your audience based on their behavior, like those who clicked a specific link in your last email. This level of customization ensures that your messages are targeted and effective.

Sales Funnel Builder: The sales funnel builder is a standout feature. It’s not just about creating a sequence of pages; it’s about guiding your potential customers on a journey. You can set up a funnel that starts with a landing page, leads to a product page, and ends with a thank you page, all while tracking user behavior. The drag-and-drop interface makes it easy to design each step, and you can add elements like pop-ups or forms to capture leads.

Blogging and SEO: Systeme.io’s blogging platform is straightforward yet powerful. You can create SEO-friendly blog posts with ease, thanks to features like customizable URLs, meta tags, and integration with Google Analytics. This ensures that your content is not only engaging but also ranks well in search engine results.

Automation and Workflow: Automation in Systeme.io is about saving time and creating efficient processes. For example, you can set up an automation rule to send a welcome email to new subscribers or trigger a specific action when someone purchases a product. This feature simplifies complex marketing tasks, making it easier to manage large-scale campaigns.

Affiliate Program Management: With Systeme.io, you can run your own affiliate program. This means you can recruit affiliates, track their performance, and manage payouts all within the same platform. It’s an excellent way for businesses to expand their reach without a significant increase in marketing spend.

Feature	Description
Email Marketing	Advanced segmentation, personalized campaigns, performance tracking
Sales Funnel Builder	Drag-and-drop interface, user journey mapping, lead capture elements
Blogging and SEO	SEO-friendly tools, customizable URLs, Google Analytics integration
Automation and Workflow	Time-saving automation rules, efficient process management
Affiliate Program Management	In-platform affiliate recruitment, performance tracking, payout management

Benefits of Systeme.io

One of the most significant benefits of Systeme.io is its cost-effectiveness. The platform offers a surprising amount of functionality without any initial investment, making it an attractive option for entrepreneurs and small businesses with limited budgets. This aspect was particularly striking, as it’s rare to find a platform that provides such a wide range of features for free.

Another major advantage is the all-in-one nature of Systeme.io. It eliminates the need for multiple subscriptions to different services, consolidating essential marketing tools into one platform. This not only simplifies the management of digital marketing activities but also ensures better integration and efficiency. The platform’s ease of use is a testament to its well-thought-out design, catering to users who may not have extensive experience in digital marketing.

Drawbacks of Systeme.io

Despite its many strengths, Systeme.io is not without its limitations. One notable drawback is the limited customization options. While it offers a range of templates and a user-friendly interface, users who desire more advanced customization may find the platform somewhat restrictive compared to more specialized software.

Scalability can also be a concern with Systeme.io. As businesses grow, their needs become more complex, and the platform may not be able to keep pace with these evolving requirements. This is particularly relevant for larger businesses or those with highly specialized needs. Additionally, while Systeme.io integrates well within its ecosystem, it may have limitations when it comes to integrating with external tools and services.

Systeme.io Pricing Structure

The pricing structure of Systeme.io is one of its most appealing aspects. The platform operates on a freemium model, offering significant functionality without any cost for up to 2000 contacts or email subscribers and three sales funnels. This approach allows users to thoroughly test and experience the platform before committing financially.

When compared to competitors, Systeme.io’s pricing is highly competitive. For instance, platforms like ClickFunnels offer powerful functionality but at a higher cost, typically starting at around $100 per month after a free trial. This can be a significant investment, especially for new entrepreneurs or small businesses. In contrast, Systeme.io’s paid plans, which provide access to a broader range of features, are more affordable, starting at less than $30 a month.

Comparative Analysis with Other Tools

To provide a broader perspective, let’s compare Systeme.io with other popular tools in the market:

Feature/System	Systeme.io	ClickFunnels	HubSpot	Kartra
Email Marketing	Advanced segmentation and automation	Basic email functionalities	Comprehensive email tools with CRM integration	Advanced automation and lead scoring
Sales Funnel Builder	Intuitive drag-and-drop builder	Highly customizable funnels	More focused on inbound marketing	Similar to ClickFunnels with added features
Blogging and SEO	Basic but effective SEO tools	Not a primary feature	Advanced SEO and content strategy tools	Limited blogging capabilities
Automation and Workflow	Simple automation rules	Complex automation capabilities	Extensive automation with CRM integration	Advanced automation but steeper learning curve
Affiliate Program Management	Integrated affiliate management	Available but less intuitive	Not a core feature	Robust affiliate management system
Pricing (Starting Plan)	Free plan available	$97/month	$45/month	$99/month

This comparison shows that while Systeme.io offers a comprehensive suite of tools at an affordable price, platforms like HubSpot and Kartra provide more advanced features in certain areas but at a higher cost. ClickFunnels, on the other hand, is more expensive but offers highly customizable funnel-building capabilities.

User Reviews and Testimonials

User reviews and testimonials play a crucial role in understanding the real-world effectiveness of Systeme.io. Many users have shared success stories, highlighting how the platform has helped them streamline their marketing efforts and grow their businesses. These positive experiences often emphasize the platform’s ease of use, comprehensive feature set, and excellent value for money.

However, it’s also important to consider critiques and common issues raised by users. Some have pointed out the limitations in customization and scalability, as mentioned earlier. These critiques are valuable for potential users to set realistic expectations and for the platform’s developers to identify areas for improvement.

Systeme.io for Different Business Sizes

Systeme.io’s suitability for small businesses is one of its key strengths. Its simple interface, combined with a comprehensive set of tools, makes it an ideal choice for small enterprises looking to establish or expand their online presence without a significant investment in multiple tools or platforms.

For medium to large enterprises, the relevance of Systeme.io can vary. While it offers a solid foundation for digital marketing, larger businesses with more complex needs might find the platform somewhat limiting. However, for businesses at the cusp of growth, Systeme.io can be an excellent tool to start with, providing a cost-effective solution for scaling up their marketing efforts.

Final Verdict on Systeme.io

The overall assessment of Systeme.io is overwhelmingly positive, especially when considering its target audience of small businesses and entrepreneurs. The platform offers a remarkable range of features at an unbeatable price point, making it an excellent choice for those starting their digital marketing journey or looking to consolidate their marketing tools.

The recommendation for specific user groups would vary based on their size, needs, and experience in digital marketing. For beginners and small businesses, Systeme.io is an excellent choice, offering everything needed to get started with digital marketing. For more established businesses or those with very specific needs, it might serve as a stepping stone before moving on to more specialized or advanced platforms.

About the Author

Jeff Rose, CFP® is a Certified Financial Planner™, founder of Good Financial Cents, and author of the personal finance book Soldier of Finance. He was a financial planner for 16+ years having founded, Alliance Wealth Management, a SEC Registered Investment Advisory firm, before selling it to focus on his passion – educating the masses on the importance of financial freedom through this blog, his podcast, and YouTube channel.

Jeff holds a Bachelors in Science in Finance and minor in Accounting from Southern Illinois University – Carbondale. In addition to his CFP® designation, he also earned the marks of AAMS® – Accredited Asset Management Specialist – and CRPC® – Chartered Retirement Planning Counselor.

While a practicing financial advisor, Jeff was named to Investopedia’s distinguished list of Top 100 advisors (as high as #6) multiple times and CNBC’s Digital Advisory Council.

Jeff is an Iraqi combat veteran and served 9 years in the Army National Guard. His work is regularly featured in Forbes, Business Insider, Inc.com and Entrepreneur.

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Apache is functioning normally

January 8, 2024 by Brett Tams

Citigroup recorded the worst quarterly loss in its storied history today, chalking up $18.1 billion in writedowns related to subprime related debt and boosting loan-loss reserves by $4.1 billion.

The New York-based bank and mortgage lender reported a net loss of $9.83 billion, or $1.99 per share for the fourth quarter, bringing net income to just $3.62 billion, or 72 cents per share for the whole of 2007.

During the same period a year ago, the company reported earnings of $5.13 billion, or $1.03 per share.

Citigroup’s revenue fell a whopping 70 percent to $7.22 billion, down from $23.83 billion in the fourth quarter of 2006.

Analysts surveyed by Thomson Financial expected the company to report a loss of $1 a share on revenue of $10.64 billion.

In a bid to raise much needed capital, the Board slashed its quarterly dividend 41 percent to 32 cents from 54 cents and will offer $2 billion in preferred securities.

The bank also said it had gathered $12.5 billion in additional capital from investors and shareholders, including $6.88 billion from the Government of Singapore Investment Corporation (GIC).

As of December 31, 2007, direct subprime exposure was $37.3 billion, including roughly $8 billion of gross lending and structuring exposures and around $29.3 billion of net ABS CDO super senior exposures, down from a total of $54.6 billion the prior quarter.

The company reported that 2.56 percent of its first mortgages were 90+ days delinquent, up from 2.09 percent the previous quarter, while second mortgage delinquencies rose 39 basis points, from 0.99 percent to 1.38 percent.

A hefty 7.83 percent of first mortgages with a Fico score below 620 (subprime mortgage) were similarly delinquent, along with 2.48 percent of second mortgages greater than 90% loan-to-value.

Additionally, the banking giant said it cut 4,200 jobs during the quarter and noted during the conference call that there would be more to come.

Shares of Citi were down $1.83, or 6.31%, to $27.23 in late morning trade on Wall Street, hovering above their 52-week low of $26.50.

Source: thetruthaboutmortgage.com

Apache is functioning normally

January 8, 2024 by Brett Tams

The Homeownership Preservation Foundation said today that its HOPE Hotline received 143,000 calls during the fourth quarter, up from roughly 60,000 the previous quarter.

“We’re encouraged because more homeowners are being proactive in reaching out for help,” says Colleen Hernandez, president and executive director of HPF, in a statement.

“It’s reassuring that homeowners are addressing their mortgage issues earlier, however we need to continue to reach out to troubled homeowners to let them know there is help available,” she added.

The volume was more than 10 times the amount received during the first quarter of 2007, boosted by the promotion of the HOPE NOW Alliance.

According to HPF, more than 37,000 homeowners received counseling during the fourth quarter, a staggering increase from the 10,000 completed sessions in all of 2006.

Of all homeowners who called the hotline during the quarter, 31 percent were less than one month behind in mortgage payments, up from 24 percent during third quarter.

California accounted for 18 percent of the calls, followed by Ohio with 9 percent and Illinois with 5 percent.

In the previous quarter, California made up 14 percent, followed by Ohio with 12 percent and Illinois with 6 percent.

Those with adjustable-rate mortgages made up 48 percent of the calls, while fixed-rate mortgage holders accounted for 28 percent.

In the previous quarter, ARM holders accounted for 44 percent of the calls, and fixed-mortgage holders represented 33 percent of total calls.

The Homeownership Preservation Foundation (HPF) is a nonprofit organization that operates a national 24/7 hotline providing free, bilingual assistance to help at-risk homeowners avoid foreclosure.

The hotline, which is a service of the HOPE NOW Alliance, can be reached 888-995-HOPE.

In related news, the California Reinvestment Coalition announced today that mortgage counseling agencies will receive $4.6 million over the next two years, potentially adding 50 or more new staff members at centers throughout the state.

The money was pledged by eight mortgage lenders, including Merrill Lynch, Wells Fargo, and Bank of America, along with the San Francisco Foundation and the California Community Foundation.

Source: thetruthaboutmortgage.com

Apache is functioning normally

January 7, 2024 by Brett Tams

According to a source close to the company, Chevy Chase Bank’s Wholesale Lending Division will no longer originate new loans in California due to “escalating delinquencies, increasing fraud, and declining values”.

It is believed that management told staff today that beginning tomorrow the division would no longer accept applications for California-based loans that were not previously locked.

Apparently the company will wind down operations centers in California, though some may remain open to support other parts of the Western Region.

It is unclear at this time how many employees will be affected by the news/closures.

The same source also informed me that Chevy Chase stopped taking loan applications in Florida in mid-December, resulting in a number of Account Executive layoffs at the end of the month.

And noted that sister company B.F. Saul Mortgage was being dissolved.

In late November, the bank announced that it would reduce its 5,000-employee work force by roughly 300 positions and scale back evening hours at some of its branches to cope with the housing downturn.

Washington D.C.-based Chevy Chase Bank has been originating mortgage loans since 1892 and services more than $21 billion in loans, according to their website.

Update: I’ve been told today that all Western Region operations are being shuttered and that the Eastern Region will be covered by a handful of internal AE’s.

Check out the latest list of mortgage layoffs, closed lenders, mergers, and rumors.

Source: thetruthaboutmortgage.com

Apache is functioning normally

January 6, 2024 by Brett Tams

Total mortgage production is expected to fall 16 percent to $1.96 trillion this year, down from an estimated $2.34 trillion in 2007, the Mortgage Bankers Association reported today.

“This would mark the first time since 2000 that total mortgage originations fall below $2 trillion,” the report noted.

The report said total loan origination is expected to fall another four percent to $1.88 trillion in 2009.

The MBA reported that residential purchase mortgage originations will drop by roughly 18 percent in 2008 to $955 billion from an estimated $1.16 trillion last year.

And said that because of tighter underwriting guidelines and falling home prices, refinance originations will decline about 14 percent to $1.01 trillion in 2008 from a projected $1.17 trillion in 2007, and fall a further 13 percent to $883 billion in 2009.

Regarding housing data, the report said total existing home sales for the year will decline by about 13 percent from 2007 to 4.94 million units, but should rise by about four percent in 2009.

Median home prices for new and existing homes are also expected to fall by about two percent this year, but rise between one and two percent in 2009.

The MBA’s Chief Economist Doug Duncan addressed recent capital worries rocking banks, mortgage lenders, and government financiers Fannie and Freddie, but noted that a further credit downturn was unlikely.

“The principal concern of the current credit crisis lies in the possibility that banks will eventually run out of capital. Banks are running up against capital limits as they write down the value of assets at the same time they are putting loans on their balance sheets because the markets for securitized products are essentially closed,” said Duncan.

“Fortunately, the banking system entered the current credit crunch well capitalized, so the danger of a sharp and widespread contraction of credit availability does not seem imminent. The recovery period in financial markets may take longer this time than it has in past financial crises, but a turn for the better still appears to be a good bet later in the year.”

Duncan added that he believes the fed funds rate will be cut at the Federal Open Market Committee meeting later this month, and expects the Fed to focus less on inflationary worries to address concerns about a recession.

He also noted that mortgage rates should continue to remain relatively low, but move slightly higher into 2009.

“The 30-year fixed-rate mortgage yield should trend up only modestly higher over the second half of the year, reaching 6.2 percent by the fourth quarter and edging up just slightly through 2009. Thus, interest rates will still be quite low by historical standards,” said Duncan.

Source: thetruthaboutmortgage.com

Feature/Platform	Stan Store	Shopify	WooCommerce	Etsy	Teachable/Thinkific	Gumroad	Kajabi
Customization	Moderate	High	High	Low	Moderate	Low	High
Ease of Use	High	Moderate	Moderate	High	High	High	Moderate
Target Audience	Creators	General Retail	WordPress Users	Artisans	Educators	Independent Creators	Educators/Marketers
Product Type	Digital	All Types	All Types	Handmade/Vintage	Courses	Digital Products	Courses/Marketing
Pricing Model	Subscription	Subscription	Free (Plugin)	Transaction Fees	Subscription	Transaction Fees	Subscription

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Apache is functioning normally

Apache is functioning normally

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Bottom Line – Stan Store Honest Review

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About the Author

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Apache is functioning normally

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The Spread Changes Over Time…

Consumers Lost Interest in ARMs as Rates Increased

Apache is functioning normally

Features of Systeme.io

About the Author

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Apache is functioning normally

Apache is functioning normally

Apache is functioning normally

Apache is functioning normally