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Hedging, Webinars, HELOC, Prequal Tools; STRATMOR on Servicing; Lunches and RESPA

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Hedging, Webinars, HELOC, Prequal Tools; STRATMOR on Servicing; Lunches and RESPA

By:
Rob Chrisman

Thu, Oct 26 2023, 12:32 PM

It is said that if all the hunters on opening day(s) of deer season in Wisconsin were grouped together, they would comprise the sixth largest army in the world! Sometimes lenders feel that they have a target on their backs, and here at the WMBA’s 49th Annual Real Estate & Finance Conference in Milwaukee, some of the informal talk in the hallways is about avoiding redlining, a focus of audits and exams. Another is RESPA. When does “As you wish” or “intent” figure into lending? “Rob, is it true that the same business lunch can either be a RESPA violation, or not?” I am not an expert in compliance, but yes, that is true. If you’re an LO who takes a real estate agent to a nice lunch as a thank you for sending business your way, that is seen as a thing of value and would be a RESPA violation. If the same nice lunch is used to discuss new programs and training that your company offers real estate agents, then it is copacetic. Make sense? (For more RESPA tips, read this edition of attorney Brian Levy’s Mortgage Musings focused on Ted Lasso.) Today’s podcast can be found here, sponsored by Visio Lending and its top notch broker program. Visio is the nation’s premier lender for buy and hold investors with over 2.5 billion closed loans for single-family rental properties, including vacation rentals. Listen to an interview with Selene Finance’s John Vella on revenue targets and P&L examinations going on at mortgage companies and what is setting apart successful from less successful mortgage service providers at a time like this.

Lender and Broker Software, Products, and Services

Great mortgage professionals aren’t always great marketers, and most mortgage companies’ in-house marketing teams lack the bandwidth to create new creative content week after week, month after month and year after year. ICE understands these challenges, which is why its Surefire℠ CRM and Mortgage Marketing Engine creative team works nonstop to deliver an ever-growing library of timely, relevant, on-brand content that captures borrower interest and keeps relationships warm long after close. With turnkey automated marketing campaigns, a single marketing administrator can automatically customize and deploy award-winning, multi-channel campaigns for hundreds of loan officers. Schedule a demo with the ICE team to discover how Surefire works around the clock to help keep loans coming in.

Uplist Unveils Revolutionary Real Estate Technology to Empower Loan Officers. In a difficult market where efficiency and speed are more crucial than ever, Uplist is setting a new standard in real estate technology for lenders. The platform’s unique suite of features eliminates the need for loan officers to spend time on mundane tasks, like updating listing flyers with accurate rate and payment information. The patent-pending technology, with real-time rates thru Uplist SmartView™ listing flyers, makes it easier for homebuyers to receive immediate, accurate payment information, thereby accelerating the sales process and cultivating stronger business relationships. Loan officers who are interested in taking their business to the next level with Uplist can visit GetUplist.com to schedule a demo. Don’t like forms? Email your questions at [email protected].

If Amazon were a mortgage lender, do you think its borrowers would have to call loan officers to get payment and closing cost summaries? Do you think its borrowers would have to wait around on nights and weekends to get updated PDF pre-approval letters? Obviously not. The good news is that you can stay ahead of the curve with QuickQual by LenderLogix. It’s already integrated into Encompass® by ICE Mortgage Technology™ and you can be up and running in days. Check it out here and they’ll text a sample to your phone.

A Consumer Rewards program at The Loan Store?! That’s right, word is that TLS is enabling its mortgage broker and non-delegated correspondent partners to offer homebuyers up to 40 bps in pricing enhancements (plus other money-saving rewards) on first-lien loans. It’s clear that The Loan Store is in a giving mood with its wholesale loan originator partners, considering this program PLUS the fact that TLS is compensating originators 200 bps on HELOCs. Make your money on HELOCs, and save your customers money on first-liens, by getting signed up with The Loan Store!

Training and Webinars

Lending operations leaders who care about driving greater efficiency and profitability, while optimizing the borrower journey, join your tribe in this live event. We will dive into specific examples that lenders can take back to their teams, today, and improve their businesses. Some of these strategies are saving 50-80 percent per month on the larger costs that lenders face. Others allow for greater automation, reducing the load on reduced teams, and allowing them to do even more. Efficiency and optimization aren’t the keys to winning in this market. They are the requirements to survive! On November 2, 2023 at 1 PM EST, Join Femi Ayi, EVP of Operations at Revolution Mortgage, Kirill Klokov, CEO at TRUV, and Jason Perkins, CEO at Bonzo as they break down efficiency and optimization strategies that you can put into practice today!

Do your borrowers need payment relief? Newfi Wholesale designed the Graduated Payment Mortgage to help! This 30-Year Fixed solution has lower initial payments than the interest only option and can be used on purchases or refinances. More brokers and loan officers are asking about this product than ever…to learn more call John Wise EVP, Sales at (818) 391-4131 or register to join our free webinar Wednesday, November 1st!

Mortgage lenders are at a pivotal juncture. The MBA forecasts that next year interest rates will soften after an extended bout of exceptionally challenging market conditions. To help you take the reins of fresh opportunity, TrustEngine is proud to present the final part of its Path to Profitability webinar series. On Thursday, November 9 at 2 pm ET, join Dave Savage, Steve Majerus of Synergy One Lending, and Brett Brumley of Lender Toolkit, for a session on how AI will be critical to conversion in 2024. Tune in for expert insights, best practices and actionable steps leaders can be taking to leverage emerging opportunities in the year ahead. Register now to grab a front row seat.

STRATMOR on Servicing Strategies

It’s no secret that lenders are not making enough money on originations to sustain their organizations. Many are losing money on each loan originated and need to leverage revenues earned from servicing rights to balance profitability. This is why developing and deploying an effective servicing strategy is a mission critical priority. In STRATMOR Group’s October Insights Report, Senior Partner Michael Grad offers insight into creating a sustainable servicing strategy. Grad discusses the servicing quadrant model that STRATMOR employs in the strategy development process and provides an overview of what’s involved in a transfer of servicing. Lenders, if you would like to discuss your servicing strategies, contact us, and don’t miss Grad’s article, “Maximizing Lender Profitability: Transferring the Servicing Asset” in the October Insights Report.

Capital Markets

Maintaining optimal hedge coverage mitigates the risk between mortgage rate lock and funding. This forecast equation is one of the most important responsibilities of the Secondary Manager (and their hedge advisor). In this article, Pipeline Pull Through Rate Analysis Explained, MCT reviews key concepts related to pull-through rate analysis, mortgage pipeline forecasting, and its importance in deriving an accurate mortgage pipeline hedging recommendation. For additional information on improving pipeline profitability, view MCT’s recent webinar on maximizing loan trading profits. In the webinar, panelists provide a current market overview and review strategies for improving loan sale performance. You’ll leave ready to analyze performance and make actionable changes to boost profitability.

Well, with the election of a Speaker of the House the odds of a government shutdown have lessened. There’s a tentative autoworker’s strike end. Both of these pieces of news would help the economy. Jobs and housing drive the U.S. economy, so what’s going on there?

We learned yesterday that new home sales jumped 12.3 percent in September and 34 percent year-over-year to a seasonally adjusted annualized rate of 759k units, according to the Census Bureau. This marks the largest monthly jump in over a year and the highest level of new home sales since February 2022.

Even though the series is notoriously volatile (there was a decline of 8.2 percent in August), it points to continued resilience in the new home sales market. Of note is that the year-over-year change in the median sales price was -12.3 to $418,800, the largest decline since February 2009 and consistent with anecdotes of homebuilders offering price discounts and mortgage rate buydowns to drive sales and further changing the mix of homes being offered to more modest products.

Keep in mind that new home sales make up a much smaller chunk of overall sales in the housing market than existing home sales, where the trailing 12-month average has been on a downward trend since May 2021 (when it reached 898k). The September reading of existing home sales came in close to the trailing average this millennium (699k) to show the housing market is holding up despite higher mortgage rates. Markets do receive the release of pending home sales later this morning, which will provide more housing market clarity after the figure was down almost 19 percent year-over-year in the last report.

Today’s economic calendar kicked off with the European Central Bank leaving its rates unchanged. In this country, we had the first look at Q3 GDP (4.9 percent growth rate, stronger than expected), durable goods orders (+4.7 percent for September), and weekly jobless claims (210k, up from 200k, 1.79 million continuing claims). In addition to the Pending Home Sales Index, today also brings Kansas City Fed manufacturing for October, a Treasury auction of $38 billion 7-year notes, Freddie Mac’s latest Primary Mortgage Market Survey, and more earnings from Wall Street. We begin the day with Agency MBS prices unchanged from Wednesday, the 10-year yielding 4.95 after closing yesterday at 4.95 percent, and the 2-year at 5.11.

Jobs

Are you ready to enhance your company’s marketing and success? Meet an experienced marketing leader on the lookout for their next career opportunity! This executive-level marketing professional is known for energy, passion, and an impressive track record of increasing growth, engagement, revenue and volume (generating over $425 million). They have a proven history of building marketing teams, focusing on loan officer needs, brand building and development, creative design and content marketing, and their hands-on experience with leading mortgage technology tools plus a keen eye for reputation management can elevate your company’s marketing efforts. Plus, their cross training in multiple marketing disciplines guarantees they are never afraid to get their hands dirty. If you’re looking for a new SVP/VP/CMO to bring fresh energy and expertise to your team, reach out to Anjelica Nixt (specify the position) for a confidential discussion. Please note that this professional is interested in remote opportunities but is open to occasional travel to corporate headquarters and branches as needed.

Please join us in congratulating Steven A. Milner on being named the new Chairman of the Lender Board of The Mortgage Collaborative! With decades of experience and outstanding leadership as the Founder and CEO of US Mortgage Corporation, Steven is the perfect fit for this important role. As Chairman, he will help guide The Mortgage Collaborative’s continued growth and innovation in connecting top mortgage lenders with premier service providers. We are thrilled to see Steven take on this position and know that under his direction, The Mortgage Collaborative is sure to achieve even greater success. His commitment to helping Lenders operate at a high level is invaluable. Congratulations on this well-deserved appointment, Steven! We look forward to seeing all that will be accomplished under your leadership as Chairman and your continued success as the Founder & CEO Of US Mortgage Corporation. Feel free to send a congratulatory note to Steve directly.

An independent mortgage bank is searching for a Servicing Manager to lead its servicing group. Qualified candidates should have a minimum of 5 years of direct hands-on servicing experience with FNMA, FHLMC and GNMA loans as well as sub-servicer oversight. This is a remote position and confidential inquiries should be sent to Anjelica Nixt for more details and specify this opportunity.

Independent Mortgage Banker owners: If you are uncertain how you will survive this winter if rates remain higher, please confidentially contact us to discuss a win-win opportunity. We are a very well-established and privately owned mortgage banking company that has been in business for 30 years, a direct seller with Fannie and Freddie and issue our own government securities. We do service the majority of our closed loans, and offer a full marketing team, social media team, and a media/video production team to provide best in class support to our loan officers and referral partners. Our history and culture are exceptionally important so let’s have a conversation to see if we may be a fit. We are large enough to offer exceptionally sharp pricing, products, a dedicated marketing team, and an exceptional operational team, yet, we have a boutique feel where you may talk to the owner of the company at any time. Partner with a company where your voice and input is valued! We have a successful history of incorporating other companies into our model. For a confidential conversation please contact Anjelica Nixt and specify this opportunity.

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Source: mortgagenewsdaily.com

The Federal Housing Finance Agency (FHFA) will revise the treatment of active single-family mortgages backed by government-sponsored enterprises Fannie Mae and Freddie Mac for which borrowers elected a COVID-19 forbearance under the Enterprises’ representations and warranties framework, according to its newest media release.

“Under the updated rep and warrant policies, loans for which borrowers elected a COVID-19 forbearance will be treated similarly to loans for which borrowers obtained forbearance due to a natural disaster,” the FHFA said. “As a result, loans with a COVID-19 forbearance will remain eligible for certain rep and warrant relief based on the borrower’s payment history over the first 36 months following origination.”

FHFA Director Sandra L. Thompson argued that homeowners, who needed more time to keep up with housing costs during the pandemic, benefited from a mortgage forbearance plan that would reduce or suspend mortgage payments.

“Forbearance was an invaluable tool for borrowers experiencing financial hardship due to the COVID-19 pandemic,” Thompson said. “Servicers went to great lengths to implement forbearance quickly amid a national emergency, and the loans they service should not be subject to greater repurchase risk simply because a borrower was impacted by the pandemic.”

The Enterprises’ existing rep and warrant policies with respect to natural disasters allow the time the borrower is in forbearance to be included when demonstrating a satisfactory payment history in the first 36 months following origination, the FHFA noted. These policies will now expand to loans for which borrowers elected a COVID-19 forbearance.

Thompson stressed the importance of helping current and prospective homeowners manage present housing conditions at the Mortgage Bankers Association Annual Convention last week.  “In a housing market like this one, it is all the more important that both our policies and the industry’s efforts align to support existing and aspiring homeowners,” Thompson said. “That is why I believe a model based on partnership and mutual feedback is necessary for us to achieve our shared goal of promoting affordable and sustainable housing opportunities.”

If you’re considering becoming a homeowner, it could help to shop around to find the best mortgage rate. Visit Credible to compare options from different lenders and choose the one with the best rate for you.

MORTGAGE RATES KEEP CLIMBING, BUT BUYERS CAN FIND THE BEST DEALS BY DOING THESE TWO THINGS: FREDDIE MAC 

Mortgage rates affecting affordability, buyers advised to build up down payments

Mortgage rates are continuing their ascent. The average 30-year fixed-rate mortgage rose to 7.63% for the week ending Oct. 19, according to the Freddie Mac’s latest Primary Mortgage Market Survey. This time in 2022, the 30-year fixed-rate was below 7%. 

Buyers may do well for themselves by browsing for the best home loans and making a considerable down payment. Freddie Mac’s Chief Economist Sam Khater said “in this environment, it’s important that borrowers shop around with multiple lenders for the best mortgage rate.”

Freddie Mac announced last week the launch of DPA One®, a new tool that strives to help mortgage lenders quickly find and match borrowers to down payment assistance programs nationwide. 

“DPA One delivers a one-stop shop at no cost that brings lenders and their borrowers greater detail and visibility into these programs, while seamlessly connecting the right assistance program with the lender, housing counselors and borrowers who need this assistance the most,” Sonu Mittal, Freddie Mac’s senior vice president of and head of single-family acquisitions, explained.

“With research showing down payment is the single largest barrier to first-time homebuyers attaining homeownership, borrowers should also ask their lender about down payment assistance,” Khater said.

If you’re looking to buy a home, you could still find the best mortgage rates by shopping around. Visit Credible to compare your options without affecting your credit score.

MANY AMERICANS PREPARING FOR A RECESSION DESPITE SIGNS THAT SAY OTHERWISE: SURVEY

Housing market showing lackluster activity

By end of 2023, there is likely to have been around 4.1 million existing home sales in the U.S., which would mark the weakest year of home sales since the Great Recession of 2008, according to a Redfin report. 

Redfin’s Economic Research Lead Chen Zhao said current conditions have led to buyer and seller hesitancy across the board. 

“Buyers have been in a bind all year,” Zhao said. “High mortgage rates and still-high prices are making it harder than ever to afford a home, shutting many young people out of homeownership and causing homeowners to reevaluate whether 2023 is the right time to move. Mortgage rates are staying high longer than anticipated, keeping away everyone except those who need to move and pushing our sales projection for the year down to a 15-year low.

“The last time home sales were this low was during the Great Recession,” Zhao continued.

Redfin agents suggest that buyers invest in newly built properties which are performing more strongly than existing-home sales. Newly constructed homes saw sales increase 1.5% year-over-year in September as prices dropped about 4%, according to Redfin’s data. 

Based on the findings from a National Association of Realtors (NAR) report, the total amount of home sales decreased by 2% from August to September and have dropped 15.4% since September 2022.

Looking to reduce your home buying costs? It may benefit you to compare your options to find the best mortgage rate. Visit Credible to speak with a home loan expert and get your questions answered.

AFFORDABILITY KEEPING YOU FROM OWNING A HOME? HERE’S HOW YOU CAN GET READY

Have a finance-related question, but don’t know who to ask? Email The Credible Money Expert at [email protected] and your question might be answered by Credible in our Money Expert column.

Source: foxbusiness.com

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A brewing crisis is emerging around homeowners insurance and thus far the finance and insurance community has not offered any viable solutions.

The annual number of weather/climate-related disasters exceeding $1 billion per event has more than doubled over the last five years from historical averages. Homeowners in affected markets have experienced increases in premiums that threaten their financial soundness or are finding cancellation notices in their mailboxes.

Major credit investors such as Fannie Mae and Freddie Mac, which require such policies, are acutely concerned about the long-term prognosis of traditional insurance in light of extreme weather trends. 

An overhaul of the homeowners insurance market is in order to prevent an impending catastrophe in the mortgage market.

Premiums on homeowners insurance policies soared more than 20% from last year, reflecting increased rebuilding costs from more natural disasters. In areas hardest hit by recurring disasters such as Florida, premiums have risen 35% with many homeowners experiencing much higher rates. And that’s where policies are available.

Several major insurers grabbed headlines this year by announcing their withdrawal from some markets, such as State Farm deciding not to offer new policies on homes in California due to major disasters like destructive wildfires that have plagued the state in recent years. 

Insurers are squeezed between state insurance commissions, reluctant to allow rate increases reflecting the recent trends in claims, and reinsurance companies raising premiums on insurers looking to offload significant risk exposure from natural disasters. 

State-run insurance programs including Florida’s Citizens Property Insurance Corp. have been reeling from the exodus of private insurers in their state. The dependence of a functioning insurance market on the decisions of 50 different state insurance commissions, poorly operating state-run programs and the volatility of reinsurance premiums imperils this market and has spillover effects onto the mortgage market.

To ensure the vitality of both homeowners insurance and mortgage markets, a combined private-public insurance solution at a national level is required to distribute natural disaster risk more efficiently, thereby lowering the costs and access to insurance and helping reduce pressures from a housing affordability crisis already in full bloom. 

This could be attained by creating a new government-sponsored enterprise (GSE) under the regulatory purview of the Federal Housing Finance Agency (FHFA) that already regulates Fannie Mae and Freddie Mac. The existing National Flood Insurance Program (NFIP) would be restructured into this new hazard insurance GSE. 

Importantly, this new GSE would be run by property and casualty (P&C) insurance, finance and weather/climate experts. The GSE structure would provide a nationwide platform providing hazard insurance to every homeowner against major natural disasters beyond flood risk. Providing fairly priced hazard insurance to homeowners given the trajectory of natural hazard events is in the national interest and funding this business in part with low-cost debt is critical to keeping costs down and access to insurance available to all.

By providing coverage only for natural hazards via this federal hazard insurance GSE, private insurers would be able strip out costly provisions of existing homeowners policies, turning them into basic policies covering other non-hazard related risks such as damage from a water line break.

This would reduce the overall costs of these standard policies. The federal hazard policy could be quasi risk-based, into several risk-based tiers to spread costs across a broad base of homeowners and make the policies affordable but also provide pricing disincentives to homeowners attracted to risky areas.

On the back end, the hazard insurance GSE would issue climate risk transfer (ClRT) securities much like Fannie and Freddie’s credit risk transfer (CRT) securities for mortgage credit risk. 

Tranches of hazard risk would be sold off to private investors, most of which in this case would be insurers and reinsurers that could take positions in hazard risk based on their risk preferences. This would more efficiently distribute hazard risk and with sufficient interest, build liquidity in such a market which over time would help lower premiums while also reducing systemic risk to the taxpayer.

Some might say that the federal government’s track record with national flood insurance has not been good, so why would a federally chartered hazard insurance GSE present a viable solution? Actually, the housing GSEs have been incredibly effective at lowering the cost of homeownership since their inception and even following the Global Financial Crisis of 2008, have generated a profit for the US Treasury. 

Establishing a hazard insurance GSE would bypass the insurance rate-setting problem that exists across 50 state insurance commissions that can limit insurance availability, and combined with a new ClRT security, would create an efficient market for broad distribution of hazard risk to the private market. The close linkage between homeowners insurance and mortgages would also be preserved by having the FHFA oversee GSEs engaged in these activities.

A vibrant housing finance system is dependent on a functional homeowners insurance market. As the pace of natural disasters rises, the provision of homeowners insurance needs to adapt to a rapidly changing environment. A federally sponsored corporation is best suited to address inherent frailties of today’s homeowners insurance markets.

Clifford Rossi is Professor-of-the Practice and Executive-in-Residence at the Robert H. Smith School of Business at the University of Maryland.  He has 23 years of industry experience having held several C-level executive risk management roles at some of the largest financial institutions.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the author of this story:
Clifford Rossi at [email protected]

To contact the editor responsible for this story:
Sarah Wheeler at [email protected]

Source: housingwire.com

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Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations.

Debt consolidation allows you to take multiple debts and combine them into one, and you can do this with your credit card debt. Doing this makes managing the debt a little easier, and you may be able to get a lower interest rate.

Keeping track of multiple credit card bills can be difficult and potentially cause you to fall behind on payments or forget them altogether. Since payment history is the most important factor that influences your creditworthiness, not making payments on time can damage your credit score. 

If you’re struggling to juggle multiple bills, you may want to consider credit card consolidation. Read on to discover eight ways to consolidate your credit card and evaluate the pros and cons of each method to find the best option for you. 

Key takeaways: 

  • Credit card consolidation involves combining multiple credit card balances into one. 
  • Types of credit card consolidation include credit card consolidation loans, balance transfer credit cards, home equity loans, HELOCs, retirement loans, cash-out auto refinance, family loans, and debt management plans. 
  • The advantages of credit card consolidation include lower payments, faster debt payoff, and fewer bills to keep track of. 
  • Consider your financial situation when weighing the pros and cons of each credit card consolidation method. 

Table of Contents: 

  • What Is Credit Card Consolidation?
  •  How to Consolidate Credit Card Debt
  • Credit Card Consolidation FAQ

What Is Credit Card Consolidation?

Credit card consolidation is a debt management strategy that combines different credit card balances into one.

How Does Credit Card Consolidation Work?

You can go about consolidating credit card debt in a few different ways. Generally speaking, you will take out a loan or credit card with a lower interest rate and pay off all current balances with money from the new account. Once the debt is consolidated into one loan or credit card, you can begin paying off this account. 

How to Consolidate Credit Card Debt

The best way to consolidate credit card debt depends on your individual financial situation, as each option has its own advantages and disadvantages. Below are eight ways to consolidate credit card debt that you may want to consider.

Credit Card Consolidation Loans 

A credit consolidation loan is a type of unsecured personal loan that comes with a set repayment period and fixed monthly payments. You’ll receive an amount of money that you’ll use to pay off your current debt. 

For a credit card consolidation loan to make sense, the interest rate needs to be lower than the interest rate for your credit cards. Most personal loans are fixed rate, so you don’t have to worry about the interest rate increasing. Keep in mind that some lenders charge an up-front, one-time origination fee ranging from 1% to 10% of the total loan amount. 

To get a credit card consolidation loan, take the following steps: 

  • Step 1: Research lenders, such as credit unions, banks, or online lenders. Since credit unions are not-for-profit institutions, they typically offer the best rates, especially for individuals with poor credit, although you need to become a member to apply. Banks, on the other hand, generally require a good credit score to qualify. Make sure to consider loan terms, rates and fees. 
  • Step 2: Get prequalified with a couple of lenders. Some lenders can prequalify your application to see what rates you qualify for so you don’t get hit with a hard inquiry that could potentially affect your credit score. 
  • Step 3: Decide on a lender and apply. You’ll likely need to submit personal information like proof of your identity and income. After you apply for the loan, the lender will decide on final approval. 
  • Step 4: Receive the loan and pay off your credit card debt. Once you receive the funds, you’ll use the money to pay off your credit card debt. On the other hand, some lenders will directly pay creditors, which removes the hassle on your end. 

Pros

  • You can get low interest rates if you have good credit. 
  • A fixed interest rate keeps your monthly payments constant. 
  • The lender may pay your creditors directly. 
  • It can help significantly lower your credit utilization.

Cons 

  • You must have a good credit score to qualify for lower interest rates. 
  • You’ll need to pay origination fees. 

0% APR Balance Transfer Credit Card

This debt consolidation option involves transferring your debt to a credit card that offers a 0% APR introductory period, typically lasting between 12 and 21 months. During this time frame, you won’t be accruing credit card interest on your debt, allowing you to pay down your balance quicker and save money. With balance transfer credit cards, the goal is to pay down your entire balance within the introductory period. 

While many balance transfer credit cards don’t charge an annual fee, there is typically a one-time balance transfer fee that ranges from 3% to 5% of the total amount you transfer. For example, if the company charges a 3% balance transfer fee and you transfer $600, you’ll be charged $18 in fees. To ensure this option makes sense for you, calculate how much interest you’ll save over time to verify it cancels out the cost of the fees.  

It’s also important to consider the card’s interest rate following the introductory period in case you don’t pay your balance off within the 0% APR time frame. 

Pros

  • It provides you the opportunity to pay off debt without accruing interest. 
  • It gives you a year or more to pay down your balance.

Cons 

  • It requires good credit for eligibility. 
  • You’ll need to pay balance transfer fees. 
  • The APR increases after the introductory period. 

Home Equity Loans

If you’re a homeowner, you can take out a home equity loan, which involves borrowing money against the equity in your house. With this method, you’re essentially taking out a secured loan and using your home as collateral. 

The main benefit of a home equity loan is that it typically offers lower interest rates than personal loans. However, since the loan is secured with your home, your property could get foreclosed on if you fall behind on payments. Additionally, you may have to pay closing costs when taking out a home equity loan, typically 2% to 5% of the loan amount. 

Pros

  • They come with lower interest rates than other loan types.
  • They offer a long repayment period.

Cons 

  • You must be a homeowner to qualify. 
  • Your home could be foreclosed on if you fail to repay the loan. 
  • You’ll need to pay a second mortgage that will likely have a higher interest rate. 
  • You’ll need to pay closing costs. 

Home Equity Lines of Credit (HELOCs)

Similarly to a home equity loan, a HELOC uses your home as collateral to secure a loan. While home equity loans provide a lump sum, HELOCs work like a revolving line of credit with variable interest rates. This means that the payment amount could vary from month to month. With a HELOC, you have continuous access to money for a period of time, and you can take out as little or as much as you need. 

Pros

  • They have lower interest rates than other types of loans. 
  • You have the ability to choose how much of your credit line to use. 

Cons 

  • Variable interest rates may make budgeting more difficult. 
  • There is a possibility of home foreclosure if you fall behind on payments. 

Cash-Out Auto Refinance

A cash-out auto refinance works similarly to a regular auto loan while allowing you to borrow additional money. For debt consolidation purposes, you can use this money to pay off your credit cards. Keep in mind that you could lose your vehicle if you fail to repay the loan. 

Pros

  • You have the opportunity to receive a lower interest rate on your car loan. 

Cons 

  • You may lose your vehicle if you don’t make payments. 
  • You’ll need to pay title, lender, and closing fees.

Retirement Account Loans 

If you’ve been contributing to an employee-sponsored retirement plan such as a 401(k), 403(b), or 457(b), you can borrow against your savings and use the money to pay off your credit card debt. Since retirement account loans typically have lower rates than credit cards, this route could significantly lower the amount of interest you pay to creditors. 

Before taking out a retirement loan, it’s important to understand how it will impact your savings. Even though you’ll pay the money back within five years, you’ll lose out on tax-free earnings. 

If you leave your current job, you’ll likely have to pay back the loan immediately or within a short period. 

Pros

  • They have lower interest rates than credit cards. 
  • There is no credit score requirement. 
  • The interest you pay goes into your retirement account. 

Cons 

  • The loan is tied to your current job. 
  • It can set back your retirement savings. 
  • You’ll pay taxes and penalties if you don’t repay the loan within five years. 

Family Loans 

Family loans can provide a more affordable way to pay off credit card debt. However, if you go this route, it’s important to create a written agreement that outlines the amount you’re borrowing, repayment terms, and the interest rate. 

Pros

  • You’ll likely receive a lower interest rate than what banks, credit unions, and online lenders offer.  
  • It doesn’t require a formal application process or credit score requirement for approval. 

Cons

  • You could strain your relationship with your family member if you fall behind on payments. 
  • There may be tax implications for your family member if they loan you over $17,000. 

Debt Management Plans 

A debt management plan is a program that nonprofit credit counseling agencies offer to help you pay off credit card debt. It involves grouping credit card balances into one payment and lowering your interest rate so you can pay off the debt within three to five years.  Once enrolled in the program, a credit counselor will work with you to create a budget and a repayment plan tailored to your financial needs. 

Pros

  • It allows you to pay off credit card debt within three to five years. 
  • It may help you improve your credit. 

Cons 

  • It limits your access to credit cards. 
  • It prohibits you from taking out new loans. 

Credit Card Consolidation FAQ

Below are a few common questions about credit card consolidation. 

What Is the Difference Between Credit Card Refinancing and Debt Consolidation?

Credit card refinancing refers to negotiating a better rate for an existing debt, while debt consolidation involves combining multiple debts. 

What Are the Advantages of Consolidation?

Advantages of credit card consolidation include lower payments, quicker debt payoff, fewer bills, and the potential to improve your credit. 

What Are the Disadvantages of Consolidation?

Disadvantages of credit consolidation include fees and the possibility that you won’t qualify for favorable terms. 

How Does Consolidating Your Credit Cards Affect Your Credit?

While consolidating your credit cards can initially hurt your credit, the drop is only temporary. Over time, your credit score should increase as long as you make payments on time. 

Is It Smart to Consolidate Credit Card Debt?

It’s smart to consolidate credit card debt if you qualify for lower interest rates and better terms than your current credit cards. 
Credit consolidation can help you reach your goal of paying off debt. To qualify for the best terms and rates, start by taking steps to improve your credit. Check your free credit score today to see where you stand.

Source: credit.com

Apache is functioning normally

There’s a lot to learn when you’re preparing to buy a home.

First, you’ll need to understand market values to avoid paying too much for your house. In addition, home inspections are vital to uncover any hidden issues before finalizing a purchase.

Furthermore, potential buyers must pay attention to closing costs, ensuring they have sufficient funds for the transaction. Lastly, perhaps the most critical aspect to keep in mind is being aware of current mortgage rates.

For those in the market for a house, even a minor adjustment in the interest rate can substantially change your financial picture and affect how much house you can afford.

This guide will shine a light on the intricacies of securing the best mortgage rate, which could translate into significant savings throughout the life of the loan. A lower rate may even allow you to afford a nicer home for your money.

Step 1: Boost Your Credit Score

A top-tier credit score be your VIP pass to securing the most enticing mortgage rates. But what factors make up your credit scores? And how can you boost yours in a hurry?

  • Timely bill payments: The bedrock of a solid credit score, timely bill payments account for 35% of your FICO credit score. Paying your credit card bills and monthly debt payments on time, consistently, boosts your credit scores. On the other hand, missed or late payments reduce your score, and can remain on your credit report for up to seven years, making it harder to get a good interest rate.
  • Credit card balances: Having credit cards helps you build credit, which can increase your FICO score. But maintaining a balance lowers it. Aim to keep your utilization ratio, which is the balance in relation to your credit limit, below 30%. An even better practice is paying off the balance in full every month.
  • Avoid excessive inquiries: Every time you apply for credit, a ‘hard inquiry‘ is placed on your report. Multiple hard inquiries in a short period can indicate risk to potential mortgage lenders, slightly dropping your score with each one. There’s one caveat here: Inquiries for the same loan type (such as a mortgage or car loan) within a few weeks of each other are counted as one inquiry. The credit bureaus understand you are shopping around for the lowest rates.
  • Check your credit reports regularly: Make it a practice to review your credit report from all three bureaus annually. This can help you spot and rectify errors or discrepancies which, left unaddressed, could reduce your credit scores.

Remember, in the eyes of lenders, a higher credit score depicts financial responsibility. Achieving this can translate to potentially thousands saved in interest over the life of your mortgage loan.

Step 2: Increase Your Down Payment

The down payment is more than just the initial chunk of money you put toward your home; it’s a reflection of your commitment to the property. The amount you put down influences how mortgage lenders perceive your loan’s risk.

Take a look at some of the advantages of putting 20% or more down.

  • Less borrowing: The more you pay upfront, the less you’ll need to borrow. This reduces your loan-to-value ratio, which can make you a more attractive borrower to lenders.
  • Lower rates: Lenders often associate higher down payments with lower risk. A borrower who can afford a larger down payment is seen as more financially stable, thus possibly qualifying for a lower interest rate.
  • Avoid private mortgage insurance (PMI): Typically, if you put down less than 20% on a conventional loan, you’ll be required to pay PMI. This insurance protects the lender if you default on your loan. By increasing your down payment to 20% or more, you can bypass this additional cost.
  • Future financial flexibility: By paying more upfront, your monthly mortgage payments will be lower, offering you greater financial flexibility in the future. This can be particularly beneficial during unforeseen financial hardships.

While it may be tempting to jump into homeownership with a smaller down payment, putting at least 20% down can lead to substantial savings in the long run and a more favorable loan structure.

Step 3: Consider Buying Mortgage Points

The strategic purchase of mortgage points, also known as discount points, serves as an effective mechanism to lower your mortgage rate. Let’s explore how they work.

What are mortgage points?

A discount point is a form of prepaid interest. One point typically equates to 1% of your loan amount and can decrease your interest rate by a certain percentage, usually around 0.25%.

Should you buy points?

Points can be a costly upfront expense at closing time. It’s important to decide if the future benefits justify the investment. Ask yourself:

  • How long do you plan to live in the house?
  • How much will you save on your monthly payment?
  • How long will it take to break even on the cost of the points?

Your mortgage lender can help you calculate whether buying points makes sense for you. They can provide a breakdown of the costs and savings associated with purchasing points, offering a clearer picture of the potential benefits.

Step 4: Choose the Right Loan Term

Your loan term is more than just a deadline for repaying your mortgage; it determines your interest rate and monthly mortgage payment.

Generally, shorter-term loans, like a 15-year fixed rate mortgage, come with lower interest rates than longer-term ones, like a 30-year mortgage. The reason is simple: lenders face less risk when the borrowed amount is to be repaid over a shorter period.

However, with a shorter term, you’ll have higher monthly payments, since you’re dividing your total mortgage amount over fewer months. You’ll need to balance the allure of a lower rate against the practicality of larger monthly payments.

Before you choose a loan term, assess your current financial situation and your projected future income. Your comfort with the size of the monthly payment, your financial goals, and your age at the end of the term are all factors that should inform your decision.

By understanding these elements, you can select a loan term that best aligns with your financial plans, payment capability, and homeownership goals.

Step 5: Navigate Market Conditions

Understanding and responding to the broader economic landscape is pivotal in securing an affordable mortgage. The U.S. Federal Reserve sets the federal funds rate, which is the rate at which the central bank lends money. The funds rate determines the interest rate for credit cards, loans, and mortgages.

A flourishing economy often triggers an increase in interest rates. The U.S. Federal Reserve has raised rates in recent months to try to stem inflation. However, an economic downturn could cause the Fed to keep rates steady or even reduce rates to stimulate borrowing and spending.

Understanding these principles can offer insight into potential rate fluctuations as you decide whether you want to buy now or wait for rates to drop.

It’s important to research these factors to have an understanding of the market. But you can also seek the guidance of a financial advisor or a mortgage broker. They have expertise in market trends and can provide advice tailored to your circumstances.

Step 6: Leverage First-Time Homebuyer Programs

If you’re navigating the housing market for the first time, there are a plethora of programs tailored to assist you in securing a favorable interest rate. These programs, often government-supported or backed by financial institutions, are designed to make homeownership more accessible. They offer a variety of incentives such as competitive mortgage rates, lower down payment requirements, or even assistance with down payments.

To qualify, you usually need to meet certain criteria, including income limits, purchasing in a designated area, or completing a homebuyer education course. It’s crucial to investigate these opportunities, as eligibility can vary widely between programs and regions.

Tapping into these programs can significantly alleviate the financial strain of homeownership, reducing your mortgage rate, and making the dream of owning a home more achievable and affordable. Research and due diligence are key in identifying and securing these benefits.

Step 7: Compare Multiple Lenders

Actively seeking and comparing options from several lenders can help you secure the most favorable interest rate. Here are three steps to take in your search for the best mortgage rate.

  • Know what to compare: Each lender may have unique offerings in terms of mortgage loan options, closing costs, and interest rates. By getting quotes from a minimum of three lenders, you ensure that you have a broad spectrum for comparison, helping you make an informed decision.
  • Utilize financial tools: A mortgage calculator is an excellent tool for to evaluate lenders. By inputting the variables of different interest rates, loan terms, and down payment amounts, you can get a clearer understanding of the monthly payment and total cost associated with each loan option.
  • Take your time: Don’t rush this step. It’s important to thoroughly review and understand each offer. Remember, a mortgage is a long-term commitment, and the details matter. Choosing the right lender can save you thousands of dollars over the life of your loan.

Step 8: Negotiate Your Mortgage Rate

While it might seem daunting, negotiating your mortgage rate is entirely possible and could result in substantial financial savings. Lenders and mortgage brokers often have some flexibility in the rates and fees they can offer. This is where thorough research and understanding of your own financial health, including your credit scores, debt-to-income ratio, and loan options, can be advantageous.

The more you understand these factors, the more leverage you have during negotiations. A well-prepared negotiation strategy can give you a significant advantage in securing a mortgage rate that suits your financial situation best.

Remember, even a slight decrease in your mortgage rate can result in significant savings over the life of your loan. It’s worth the effort to negotiate terms; it could save you a considerable amount of money in the long run.

Conclusion

Securing the best mortgage interest rate can make your dream home more affordable and save you thousands over the life of the loan. By understanding how different factors like your credit scores, down payment, and loan term affect your rate, you can take steps to secure the best mortgage deal. Remember, a home loan is likely to be one of the biggest financial commitments you’ll ever make, so take the time to get it right.

Frequently Asked Questions

What is the ideal credit score for getting the best mortgage rate?

While credit requirements can vary by lender, a credit score of 740 or higher generally qualifies borrowers for the best mortgage rates. However, it’s still possible to secure a mortgage with a lower credit score, but the rates might be higher.

What’s the difference between a fixed-rate and an adjustable rate mortgage (ARM)?

A fixed-rate mortgage has a constant interest rate and monthly payments that never change. This offers stability and predictability over the life of the loan.

Adjustable rate mortgages have an interest rate that may change periodically, affecting your monthly payments. The rate adjustments are tied to market conditions and specified in the mortgage agreement.

The main difference is that a fixed-rate mortgage offers long-term stability in payments, while an ARM carries the risk of the payments increasing or decreasing over time.

How much can I save by improving my credit score?

The difference in mortgage rates between different credit score ranges can be substantial. For instance, improving your credit score from ‘fair’ (580-669) to ‘very good’ (740-799) could potentially lower your interest rate by a full percentage point or more. Over the life of a 30-year mortgage, this could translate to tens of thousands of dollars in savings.

How much should I save for a down payment?

The amount you should save for a down payment can depend on the type of loan you’re getting and your financial situation. Traditionally, a 20% down payment is recommended for conventional loans, as this allows you to avoid paying for private mortgage insurance (PMI). However, some loan types, such as Federal Housing Administration (FHA) loans, allow for lower down payments.

How do I choose between a 15-year and a 30-year loan term?

The choice between a 15-year and a 30-year loan term depends on your financial circumstances and goals. A 15-year loan typically has a lower interest rate but a higher monthly payment, making it a good choice if you can comfortably afford the payments and want to pay off your mortgage faster. On the other hand, a 30-year loan has lower a monthly payment but a higher interest rate, making it a more affordable option for many buyers.

Is it worth buying discount points to lower my interest rate?

Whether it’s worth buying discount points depends on your particular situation. If you have the cash and plan to stay in your home a long time, buying points can be beneficial. The savings over time from a lower rate can exceed the points’ upfront cost.

What are some examples of first-time homebuyer programs?

First-time homebuyer programs can vary by state and by lender, but some examples include FHA loans, USDA loans, and VA loans, as well as specific state-sponsored programs that offer down payment assistance or tax credits. It’s worth checking with your local government and potential lenders to see what programs might be available to you.

How do market conditions impact mortgage rates?

Mortgage rates are influenced by a variety of market conditions, including inflation rates, economic growth indicators, and monetary policy decisions by central banks. Generally, when the economy is strong, mortgage rates tend to rise to keep inflation in check. Conversely, during economic downturns, rates often fall to stimulate borrowing and investment.

Source: crediful.com

Apache is functioning normally

Apache is functioning normally

The following Travelpayouts Review is a sponsored partnership. If you love to travel and enjoy writing, chances are that you’ve thought about turning your adventures into a way to make money. The world of travel blogging is an exciting one, having not only the opportunity to talk about your experiences but also the possibility to…

The following Travelpayouts Review is a sponsored partnership.

If you love to travel and enjoy writing, chances are that you’ve thought about turning your adventures into a way to make money. The world of travel blogging is an exciting one, having not only the opportunity to talk about your experiences but also the possibility to earn a living from it.

And, if you’re a travel blogger or content creator, then you should check out Travelpayouts.

Travelpayouts is an affiliate network for travel partnerships that helps you make money online. It has over 100 popular travel affiliate programs (such as hotel bookings, guided tours, rail tickets, rental cars, and so much more) giving you many different ways to earn income.

In fact, Travelpayouts paid out $12 million to their creators in just 2022 alone.

Whether you’re a travel blogger or create content about travel in some other way, Travelpayouts is something that you will want to use.

In this Travelpayouts Review, I will be talking about the largest travel affiliate network for travel bloggers and travel content creators – Travelpayouts.

Please click here to learn more about Travelpayouts.

Travelpayouts Review

What is affiliate marketing?

Affiliate marketing is a way of advertising where a company pays a content creator when they help bring people to the company’s website and those people make a purchase.

This happens through a tool with a referral marker (link, widget or banner) given to the content creator. When someone clicks on that tool and buys something from the company’s site, the content creator gets a percentage of the sale. It’s like a reward for helping the company get more customers.

For example, a travel blogger might share a link to a guided tour that they did while in Asia, a hotel that they loved in Europe, or a flight deal that they found. If a reader of theirs signs up through their referral link, banner, or widget, then the travel content creator will receive income for referring their reader to the travel company.

Affiliate marketing is liked in travel content because it helps companies like tour operators, flight booking sites, and hotel booking sites get their message and ads out to more people. They only have to pay when they actually get more business from it, so it’s a way for them to make sure their money is being well spent.

What is Travelpayouts?

Travelpayouts is an affiliate network for travel bloggers and content creators. They connect popular travel affiliate programs with content creators.

For example, you can promote activity package tours such as on Viator, hotel booking sites such as Booking.com, and more.

This site helps creators make money and grow their blog without spending too much time on it. With Travelpayouts, creators can turn their hobby into a successful business that they love. It’s trusted by around 500,000 top creators and well-known travel companies.

Travelpayouts has paid out over $59,000,000 since it began 11 years ago.

This site is trusted by 100+ major travel companies, such as Bооking, Viator, Expedia, Trivago, and GetYourGuide.

Other benefits of Travelpayouts include:

  • Transparent reward rates. With Travelpayouts, you’ll have clear information about where your earnings are coming from and you’ll also know what rewards to expect. This transparency helps you stay informed and make the most out of what you choose to work on.
  • Easier to meet the threshold. The money you make from different affiliates gets combined, so it’s easier to make the minimum payment amount and collect payouts.
  • Responsive and helpful support. The Travelpayouts’ support team is really helpful and they’re available every day, even on weekends, and they respond within 24 hours. They take the time to understand and fix any problems or worries you might have. They always aim to make your experience with them positive and enjoyable.
  • Helpful tools and dashboard. Travelpayouts has nine tools for affiliates, and they’re more than just links. They include things like easy-to-use templates for making your own travel apps without needing to know how to code. There are also interactive widgets to make your content more engaging. It’s a whole set of resources to help you succeed!

How does Travelpayouts work?

Travelpayouts is easy!

Here’s how Travelpayouts works:

  1. Content creators share the travel brands they like with their followers and get paid for it. For example, a travel blogger might talk about a fun GetYourGuide adventure and include an affiliate link for their followers to book it.
  2. Travelers book perfect trips at the best price and explore fascinating places, both near and far.
  3. Travel companies work with travel bloggers and content creators to reach more people and sell more of their services. It’s a way for them to connect with a wider audience and boost their sales.

How much can content creators earn with Travelpayouts?

The amount of money that you can make as a content creator depends on many different things.

I know many bloggers who earn a full-time income with their blog, and a travel blog has many options for what they can promote.

The amount of money that you can make depends on how many people on your website are interested in booking things like flights, hotels, and car rentals. So, the more people who book, the more money that you can earn!

For example, partners with Travelpayouts usually make around $15 for each hotel booking, around $6 for each flight booked through WayAway, and about $23 for each car rental booked with Discover Cars, and so on. This means your earnings are directly linked to the number of sales you generate. The more you sell, the more you can possibly make!

Plus, your cookie lifetime is 30 days long, so as long as someone clicks and books through your link within 30 days, you will receive an affiliate commission.

As a Travelpayouts affiliate, you can also get your earnings through a bank transfer or PayPal. The smallest amount you can withdraw depends on how you choose to receive the payment, starting at $10 (this is your payout threshold). The good news is, Travelpayouts takes care of all the fees associated with the payment transfer too.

How can content creators track their sales?

To make sure a travel company knows which partner is responsible for a sale and can pay them correctly, affiliate marketing uses different tools.

Travelpayouts uses a range of tools for partners with various levels of programming skills and for different types of projects like social media pages, websites, blogs, and more. This way, partners have the right tools to track their success and get their well-deserved rewards.

For example, they provide no-code tools, such as deep links (with a built-in link shortener), banners, and widgets. There are also tools for those who are better at coding, like White Labels, API, Travel App (a template for creating mobile travel apps), and many others.

How to get started with Travelpayouts

Here’s how you can get started with Travelpayouts:

  1. Sign up – You can join Travelpayouts for free by clicking here.
  2. Decide where will you use affiliate tools and add the description of your project
  3. Choose your niche – No matter if you’re into budget-friendly trips, luxurious getaways, family vacations, or adventurous journeys, there’s a referral link for every kind of traveler.
  4. Integrate Travelpayouts’ tools into your blog to easily share travel services with your readers.
  5. Write content – Create content that’s both interesting and helpful for your readers so that you can encourage them to travel to new places and make travel plans.
  6. Make money – As your followers start booking travel through your affiliate links, your earnings will grow.

Travelpayouts Academy

One great feature that I love about Travelpayouts is that you get access to their affiliate marketing courses when you are an affiliate for them.

Bloggers and content creators can all benefit from these courses.

Some of their free courses include:

  • Boost Travel Affiliate Revenue Using SEO
  • How to Make Money as a Content Creator
  • Monetize Your Content With WayAway

The courses mentioned above have anywhere from 6 to 18 lessons each, so they are very thorough as well.

This is all free if you are an affiliate within the Travelpayouts affiliate network.

Frequently Asked Questions About Travelpayouts

Below are answers to common questions about Travelpayouts.

How long does it take to make money from a travel blog?

The time it takes to make money from a travel blog varies from person to person. Due to this, it’s important to be realistic as it can take anywhere from several months to years to start making a consistent income from a travel blog.

And, there is no guarantee that you will make money blogging either. But, I do know many blogs who earn a full-time income, such as myself!

In the beginning stages of your travel blog, you will want to focus on writing high-quality content, building an engaged audience, and finding ways to get your content out there to new readers.

Is it really possible to make money with Travelpayouts?

Yes! There are plenty of success stories from Travelpayouts’ partners to back this up:

Travelpayouts shares the success stories of different travel bloggers and many of their partners on their blog if you’d like to read more.

Is Travelpayouts worth it? Should you join the Travelpayouts affiliate network?

Yes, Travelpayouts can be worth it for travel bloggers and affiliates. This affiliate network has a lot of different affiliate programs and tools to help you make money with your travel-related content.

What affiliate programs are on Travelpayouts?

Travelpayouts has a lot of different travel affiliate programs and some of the most popular ones include:

  1. Booking.com: A popular site for booking hotels.
  2. Viator: Site for booking excursions, tours, and activities.
  3. GetYourGuide: Another site selling tours, activities, and experiences.
  4. HostelWorld: This is a hostel-focused booking site with 36,000 properties in over 178 countries.
  5. Rentalcars: Several options for car rentals from different providers.
  6. Kiwi.com: An online travel agency known for its unique booking options and flexible travel plans.
  7. Hotellook: A site for comparing hotel prices around the world (250,000 properties in 205 countries).
  8. AirHelp: Helps passengers receive compensation for delayed or canceled flights
  9. CheapOair: A provider of flight tickets, hotel rooms, rental cars, and vacation packages
  10. Tripadvisor: This is the world’s largest travel site giving users access to 1.4 million places to stay and 795 million reviews
  11. BikesBooking: Booking site for motorcycles, scooters, quads, and bicycles around the world
  12. Busbud: A bus-booking platform with the world’s largest selection of bus tickets
  13. Cruise Critic: The leading authority and market leader for cruise information
  14. Economybookings: A rental car booking site
  15. Rail Europe: Helps travelers travel by train in Europe
  16. Loveholidays: Package tours site for flights + hotels

These are just some of the more popular affiliate programs that you can find on Travelpayouts and as you can see, there are many different options!

Each affiliate program has different commissions and opportunities, allowing affiliates to find the best affiliate programs for their audience. Remember, you will want to choose affiliate programs that are what your readers want to see, and Travelpayouts can definitely help you with this.

Travelpayouts Review – Summary

I hope you enjoyed this Travelpayouts Review.

Travelpayouts can be a great help for new travel bloggers as you can see.

This affiliate network is easy to use, has many ways to make money, and provides lots of support (they even have free courses to help you make more money online!). There are many different travel companies that you can partner with, such as hotel booking platforms, cruises, sim cards, excursions, tours, rental cars, airline tickets, and more.

If you want to promote something related to the travel niche, then the Travelpayouts affiliate network probably has the affiliate links.

With Travelpayouts, you’re all set to turn your love for travel into a successful online venture.

Please click here to learn more about Travelpayouts.

Do you have any questions that you’d like me to answer in this Travelpayouts Review?

Source: makingsenseofcents.com

Apache is functioning normally

Apache is functioning normally

Freddie Mac today reported a first quarter loss of $151 million, or 66 cents per share, a huge improvement from the company’s fourth quarter loss of $2.5 billion, or nearly $4 per share.

Analysts surveyed by Thomson Financial had pegged the company to lose 92 cents during the quarter.

The mortgage financier said it benefited from lower mark-to-market losses, credited to the adoption of its new Fair Value accounting method.

CEO Richard Syron expressed that market conditions remained difficult during the first quarter, resulting in $528 million in credit losses, up from $236 million in the fourth quarter and $1.4 billion in credit loss provisions, up from $912 million.

He said the deterioration of 2006 and 2007 loan vintages were largely to blame as delinquencies jumped and many loans fell into foreclosure, but noted that the company was still able to increase market share, guarantee revenue, and achieve better margins.

Freddie said the unpaid principal balance of its retained mortgage portfolio increased to approximately $738 billion at an annualized rate of roughly seven percent through April 30.

Last month, the company said its estimated retained portfolio mortgage purchase and sales agreements totaled roughly $43 billion, providing much needed liquidity to the secondary market.

As of March 31, the government-sponsored entity estimated that its single-family serious delinquency rate (90+ days behind on mortgage payments) for all loans was approximately 0.77 percent.

Capital Boost

Freddie Mac also plans to raises $5.5 billion to bolster its capital position via common stock and preferred security sales, which in turn will allow the OFHEO to lower its capital surplus requirement to 15 percent from 20 percent.

The company estimated that regulatory core capital stood at $38.3 billion at March 31, $6 billion in excess of the 20 percent mandatory target capital surplus designated by the OFHEO.

Shares of Freddie Mac were up $2.14, or 8.57%, to $27.10 in early afternoon trading on Wall Street.

(photo: bcmom)

Source: thetruthaboutmortgage.com