SEM's got Talent #2 Extravaganza is coming soon....

SEM's got Talent 2 is coming soon....  Another exciting evening of singing, dance, and all the other acts ready to show their talent.

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Realization you do not know everything is a basis for evolution in business

There is a reason some businesses grow while others remain small within their paradigms.  Business and business owners go through a process of evolution to grow.  Those that embrace change and delegation will be better able to grow their business versus those that retain a stronghold under the theory they know everything and can do all tasks better than others.

The owner of a business should always consider their job to be the coordinator and ambassador for service and quality.  To be a successful owner, the person needs an honest assessment of their skill set to hire critical functional personnel competently.  Hiring who you like or the one that is fun to be around is not in the best interest of an effective business nor the stability of the business.  The team should be built based on skill sets and the synergy within the team.  Owners who hire key people that possess the strengths in skill that offset their weaknesses will create a more robust team to break paradigms faster.  The synergy that can be created as the methodology is pushed down through the organization can create an unstoppable force in their industry.

Companies that hire based on skill and promote based on skill; create an atmosphere of respect that will propel the team to work towards excellence.  This culture creates a level work playing field and a valued workforce who will push the envelope of possibility.

And then there is the owner that feels all skills have been bestowed upon them and they know it all.   

Although good for the ego, not a basis for employee satisfaction and growth.  This misguided approach will create a company of workers who are punching eight and celebrating Friday at 5:00pm.  Hiring is typically not well thought out with most hires based on filling a job rather than a particular skill set the company needs.  Needless to say, the business typically will remain small due to the lack of talent needed to increase span of control to navigate as a larger entity.

The owner who knows it all will attempt to grow; however, will always seek equilibrium back to the original size due to the lack of leadership depth and synergy to hold the company at a higher level.  Many business owners continue the frustrating process not understanding why the company is fluctuating and not sustaining at the higher levels. 

A good way to look at the issue:  Will one perfect engine cylinder push a car faster or more reliably than an engine with 8 above average cylinders.  The larger the company becomes, the larger the engine needed to push it.  One step beyond this basic concept is a 2^nd and 3^rd engine standing by to provide redundancy in case your primary engine fails.  This is a good policy as certain critical functions evolve.  This type of redundancy can be efficiently solved through cross training within functional areas to create primary, secondary, and tertiary support as the unexpected inevitably will occur. 

Realization you do not know everything is a basis for evolution in business.  One person cannot evolve a company by themselves.  It takes a village, http://southeastmortgage.blogspot.com/2013/03/the-village-by-cal-haupt.html, to maintain and grow a company.  People are social by nature and who would not enjoy growing with a team versus mono-rule.

By,

Cal Haupt, CEO, Southeast Mortgage of Georgia, Inc.

www.southeastmortgage.com

770-279-0222

 

The September Cal-Culator Shows Continued Growth in the Atlanta Residential Real Estate Index

Posted on October 4, 2013 by admin  

September 2013 marks our second month of The Cal-Culator, Atlanta’s residential real estate index. Based on rising mortgage applications, declining foreclosure rates in Atlanta, the growth of the U.S. economy, amongst other factors, our Cal-Culator number this month is a 5.9. Comparatively, last month was a 5.1.

 

As stated in our inaugural column last month, The Cal-Culator number is based on housing trends, real estate-related indices and information from experts in the industry. We take into account such trends as mortgage rates, mortgage volume, inventory of available homes in Atlanta, the overall health of the Atlanta and U.S. economy, mortgage loan applications and more. We consult a number of professional publications and organizations such as Metrostudy, the Bankrate.com Rate Trend Index, S&P/Case-Shiller Home Price Index and the Mortgage Bankers Association commentary.

The latest Metro Atlanta Case-Shiller Index, published on September 24, continued to show signs of improvement for Atlanta. Average home prices increased by 1.8 percent from last month and 12.4 percent over the past year. The Index also found listing inventory is up 24.8 percent from its lowest level in February 2013.

More September reports from Realtytrac showed remarkable progress for the foreclosure rate in the Atlanta market. Atlanta saw the fewest U.S. homes sought for foreclosures by lenders in nearly eight years. It is the first month since November 2009 that Georgia did not land in the top 10 states with the highest number of foreclosures. In August, 55,775 homes entered the foreclosure process, an 8 percent drop from the previous month and a 44 percent drop from August 2012.

On September 30, the Mortgage Bankers Association released their commercial and multifamily quarterly data book. Their findings revealed that the U.S. economy grew at a seasonally adjusted rate of 2.5 percent in the second quarter, compared to 1.1 percent growth in the first quarter. They also found that commercial and multifamily mortgage originations grew while delinquency rates for commercial and multifamily mortgages loans declined. Mortgage applications increased within September by 5.5 percent, according to their reports.

The National Association of Home Builders reported sales of newly built, single-family homes rose 15.3 percent in the South in August and 7.9 percent nationwide. The gain helped offset a dip in July that was caused by higher interest rates. The resales marked a 6 1/2 year high as buyers flocked back to the market to take advantage of lower borrowing costs.

August also posted numbers that demonstrated ease on the housing crunch that has struck Atlanta especially hard. According to the National Association of Realtors, more buyers are beginning to put their home on the market thanks in part to rising home prices. Existing home sales increased 1.7 percent to a 5.48 million annual rate in August.

The next Cal-Culator will be released November 11. Here’s to hoping for a continual rise in the Atlanta residential real estate market.

Note from Cal Haupt, CEO, Southeast Mortgage of Georgia, Inc. :
With the deadlock in Washington, the government created a significant issue out of a small lesser-known component of the mortgage process.  Due to the recent financial crisis, IRS 4506T transcript verifications are required on almost all files prior to closing a mortgage loan in the US.  As a result of the government shutdown, the IRS is not processing 4506T requests. The real estate lending industry contributed to the 2009 recession and if the government does not address this overlooked component of the shutdown, the constraint on lending will severely impact the recovery process of home builders, real estate professionals, and mortgage lenders.

www.southeastmortgage.com
770-279-0222

Government Shut Down - "No Worries" Southeast Mortgage is Open for Business!

Government Shut Down? "No Worries" Southeast Mortgage is Open for Business!
 
Both parties at SEM, Sales and Operations, are always in agreement.  Service Matters and we Work for our Clients and Referral Partners......

Cal Haupt
CEO
Southeast Mortgage of Georgia, Inc.

770-279-0222
If your application is stalled, apply online with SEM.
www.southeastmortgage.com

What Consumers Must Know about the Mortgage Industry

Mortgage Loan Rates are a commodity set by the market.

Mortgage Rates, Economy, Home Prices, and Labor Market are all relative.  Rarely is there a dislocation in the relativity that provides a true benefit.

Ø  When rates are low, the economy is generally struggling, employment is low, and home prices are depressed. 

Ø  When rates are higher or increasing, the economy is strong, employment and wages are high, and home prices are rising.
As a result, consumers always get the relative best rate based on surrounding fundamentals that set the current mortgage rate.

Choosing a mortgage loan based on fit and suitability is the most important decision a consumer can make. 

Every Consumer deserves an interview with a Licensed Mortgage Originator to ensure their needs are met with the most appropriate mortgage product.

Ø  Rates are relative and if someone offers a lower than market rate – something else is compensating for the concession.  Buyer Beware.

True value to a Consumer is a function of Lender Type and Overhead Cost. 

Many consumers see a headline rate and do not look at the details.  Work with a Lender that has the highest certifications thus you get the best access to markets without the additional cost.  Southeast Mortgage is type 1 - Direct with Broker Dealer Capability.

Hierarchy of Mortgage Lender Certifications from Highest to Lowest
 

1.      Direct with Broker Dealer Capability (This is Southeast Mortgage's Class)
a.      Lowest cost of all
b.      Same as direct with potential cost reductions from trade operations
c.    Best Product Availability and best rates for MLOs and Clients

2.      Direct Fannie, Freddie, and FHA “Ginnie”  Lender
a.      Lower cost due to access to GSEs and no middle men
b.      Relative rates and cost due to proximity to primary market
c.    Good Product Availability and rates for MLOs and Clients

3.      Correspondent
a.      Moderate Cost
b.      Lower cost than a Broker with some rate flexibility based on delivery
c.      Works on behalf of another Direct Lender
d.   Limited Product Availability, higher rates for MLOs and Clients

4.      Broker
a.      Highest cost of all
b.      Middle person between Consumer and a Direct Lender and or Correspondent
c.    Very Limited Product Availability, higher rates for MLOs and Clients

Always select a Licensed Mortgage Loan Originator

Check yours at: http://www.nmlsconsumeraccess.org/

A Registered Mortgage Loan Originator (Employed by State and Federal Banks) has not passed the NMLS test set forth by the government to protect consumers.  All banks employ Registered Mortgage Loan Originators under their federal exemption.   

Would you buy stocks and mutual funds from an unlicensed sales person?  Consumers deserve the protection a Licensed Loan Originator provides.

 

www.southeastmortgage.com

770-279-0222

Rob Chrisman Report - "Cal-Culator Report"

http://www.robchrisman.com/category/daily-mortgage-news/

Atlanta has a new metric for measuring the health of the Atlanta residential real estate market, thanks in part to Georgia’s largest non-bank mortgage lender Southeast Mortgage. The “Cal-Culator report” will be distributed to media outlets prior to being published on Southeast Mortgage’s Thought Leadership blog on SaportaReport.com, Atlanta’s authoritative civic website. The monthly Cal-Culator number rating will be based on a variety of factors including mortgage rate trends, single-family housing starts, the inventory of Atlanta homes, consumer confidence and the Atlanta economy. Staff will be consulting numerous sources, such as the S&P Case-Shiller Home Price Indices, Atlanta’s On Numbers Economic Index, the Conference Board Consumer Confidence Index and more. The Cal-Culator for August 2013 can be viewed here:
http://saportareport.com/leadership/homemortgages/2013/09/09/introducing-the-cal-culator-atlanta-residential-mortgage-index/.

www.southeastmortgage.com
770-279-0222
clientservices@southeastmortgage.com

Introducing The Cal-Culator: Atlanta Residential Mortgage Index

Introducing The Cal-Culator: Atlanta Residential Mortgage Index

Posted on September 9, 2013 by admin SaportaReport

Welcome to the Cal-Culator! Each month we’ll post our Cal-Culator number after considering a variety of factors that include information about home buying, mortgages and building activity in metro Atlanta, as well as the national economy.
This month our Cal-Culator number is 5.1. For comparison’s sake, in July 2007 when Atlanta home prices were at their peak, the Cal-Culator would have been a 9. About 18 months ago in March 2012, the Cal-Culator would have been a 1.5.  That’s the month that BusinessInsider.com among others wrote that Atlanta has the worst housing market in the country.

Thankfully, many factors have improved considerably, with trends pointing in a positive direction and the Atlanta housing market continuing to gain momentum.

To determine the Cal-Culator number we take a look at the following:
• The national average of mortgage rates
• Mortgage rates trends
• Mortgage volume
• Mortgage volume trends
• Single-family housing starts
• The inventory of available homes in Atlanta
• The S&P/Case-Shiller Home Price Indices
• The overall health of the economy in Atlanta, and in the U.S.
• Consumer confidence

The national average for mortgage rates is on the rise, with the average for a 30-year at 4.58 percent last week. Rates have risen a full point since May.

For the trends in mortgage rates, we look at the Bankrate.com Rate Trend Index. Each week experts in the mortgage industry and Bankrate analysts predict where mortgage rates are headed. For the week of August 22, 50 percent of the panel predicted they would go up in the following week; 17 percent predicted they would go down; 33 percent predicted they would remain unchanged.

Each month economists at the Mortgage Bankers Association (MBA) release commentary on the current economic climate and insights on how trends affect mortgage markets. The most recent commentary shows predictions of a volume of $606 billion in the second half of the year, up from the $527 billion it forecast at the beginning of 2013, but down from $976 billion during the first half.
Another factor we consider for the Cal-Culator is the volume of mortgage loan applications. For that information, we use the Market Composite Index from the MBA’s Weekly Mortgage Applications Survey. On a seasonally adjusted basis, the mortgage loan application volume decreased 4.6 percent from one week earlier, as reported on August 21.

To determine single-family housing starts and inventory we gather data from Metrostudy, a provider of primary and secondary market information to housing and related industries. Atlanta showed an encouraging turnaround in the second quarter of 2013, with construction doubling in some counties over the same period in 2012. Metrostudy economist Eugene James said, “The second-quarter of ’13 starts are up 77 percent from a year ago. That’s a big number.

Inventory remains low, with properties for sale through MLS at a 3.6-month supply. The median sales price for new homes rose in the second quarter, to $271,500 from $259,900 a year earlier.
The S&P Case-Shiller Home Price Indices is the leading measure of U.S. home prices and Atlanta is one of the markets it specifically addresses. Home prices continue to strengthen and Atlanta showed a monthly gain in May (the latest figures available) of 3.4 percent, the first time it has gone over 3 percent.

The overall health of the economy is important for the Cal-Culator and for that information we look at figures from the Conference Board Leading Economic Index (LEI) for the U.S. Last week the LEI showed an increase of 0.6 percent to 96. (2004 = 100) “The improvement in the LEI, and pick up in the six-month growth rate, suggest better economic and job growth in the second half of 2013,” said Ken Goldstein, Economist at The Conference Board.

For information about Atlanta, we use the On Numbers Economic Index from The Business Journals, publisher of The Atlanta Business Chronicle. This index measures the relative vitality of 102 major metropolitan areas with populations of more than 500,000, and Atlanta came in 65 out of 102. “Recent employment numbers suggest metro Atlanta’s job growth is sustaining momentum,” wrote Douglas Sams, Commercial Real Estate Editor for the Atlanta Business Chronicle. In June metro Atlanta added 10,000 jobs.

For information on consumer confidence, a critical component in the recovery of the housing market, we turn to the Conference Board Consumer Confidence Index® that releases a monthly Consumer Confidence Survey® based on information gathered by Nielsen. The Conference Board reports that confidence fell slightly in June but is still well above levels a year ago. “Overall, indications are that the economy is strengthening and may even gain some momentum in the months ahead,” said Lynn Franco, Director of Economic Indicators at The Conference Board.

We hope you find The Cal-Culator helpful as an indication of the health of the Atlanta residential real estate market. Let’s hope the news continues to trend in a positive way.

www.southeastmortgage.com
770-279-0222