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Craig Bland - Manager
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Tour of The SEM Gwinnett Office with Craig Bland

Craig Bland

Have a spooktacular week....

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770-279-0222

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.

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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