http://urlcut.me/avU

He has mastered how to achieve multimillion dollar per month personal production year after year throughout his career.

He knows how to do it.  He revels in every opportunity he has to share how it is done.

Greg just returned from New Zealand where he shared his strategies with hundreds of Kiwi Loan Advisors at the NZMBA annual convention to rave reviews.

Consider inviting Greg to teach your team.  You’ll be glad you did.

Darren Pratley, President of the New Zealand trade association reports that registrations for the August 4 conference are already the largest ever.  “We made a decision to hire mortgage industry icon, Greg Frost, to come all the way from the U.S., to share his proven production strategies with us. This has stimulated tremendous interest in the meeting and is proving to be a very good investment.”

Modesto Bee (CA) (06/24/11) Wagner, Daniel

 “We are seeing a steady migration of quality Brokers to the Mortgage Banker space,” says Greg Frost, President of Frost Mortgage Banking Group, a Division of PRMI.  “We licensed 4 new offices in April/May and have 9 more in various stages of evaluation, migration and licensing.  Our business model speaks to the entrepreneurial spirit of the Broker while providing increased product access, as well as financial stability.  Brokers seem to agree that the Mortgage Banker correspondent platform is preferable to going to work for one of the large commercial banks.”

However, the homebuyers joining the market are enjoying record-low mortgage rates. NAR’s home affordability index shows the monthly mortgage principal and interest payment on a median-priced home is only 13% of gross household income, the lowest level since 1970.

“Given that FHA (Federal Housing Administration) and VA (Veterans Affairs) government-backed loan programs turned a modest profit over to the U.S. Treasury last year, and have never required a taxpayer bailout, we believe low down payment loans should continue to be available for those consumers who have demonstrated financial responsibility and are willing to stay well within their budget,”  NAR President LawrenceYun said.

www.housingwire.com

The benchmark 10-year yield, which moves inversely to price, fell 18 basis points during those three days.

Reports Tuesday showed the March NY Empire State manufacturing index rising to 17.5 from 15.4 and homebuilder confidence edging up to 17 from 16.  But all eyes were focused on the nuclear threat and word that Japan might sell some of its $886 billion in U.S. debt to help finance rebuilding.

Separately, minutes of the Fed’s Feb. 16 meeting were slightly more upbeat than in the past, but the markets did not react.

Stock prices rebounded in Japan on Wednesday, but a grim report on February housing starts sent stocks into free-fall, and the flight to quality gained speed. 

Starts plunged 22.5% to an annual rate of 479,000 units — 20% fewer than year ago totals.  Single-family starts fell 11.8%.  Permits dropped 8.2% to an annual rate of 517,000 — the fewest since these data were tracked in 1959.

A big jump in the producer price index didn’t slow buying in Treasuries.  The index, which monitors wholesale inflation, rose by a stronger-than-expected 1.6% due to escalating food and energy costs.  But the core rate that eliminates those prices rose by a predicted 0.2%.  So far, manufacturers have been able to absorb some of those costs.

The yield on the 10-year note closed at 3.21% on Wednesday — its lowest level since early December.

Treasuries posted their first losing day Thursday as first-time unemployment claims fell by 16,000 to 385,000 during the week ended March 12.  Continued claims, those receiving benefits for more than one week, dropped by 80,000 to 3.7million.  In addition, the consumer price index, which checks inflation at the retail level, rose 0.5%, with an 11% increase in energy and a 2.3% rise in food costs leading the way.  The core rate, however, rose by an expected 0.2%.

The Philly Fed manufacturing index for March and the index of leading economic indicators, or LEI, were positive.  The Philadelphia index soared to 43.4 from 35.9 when analysts expected a number in the mid-20s.  And the LEI, which predicts future economic conditions, rose 0.8% in February versus January’s 0.1% increase.

The 10-year yield closed at a still-low 3.25%.

No reports were released Friday, but stocks surged on word of a cease fire in Libya, and Treasuries sold.  The midday yield rose to 3.28%.

The Mortgage Bankers Association revealed mixed news regarding mortgage applications for the week ended March 11.  While refis rose 0.9%, purchase apps fell 4.0%.

This week will be largely ruled by data on housing and, of course, the situation in Japan.

Existing home sales for February are due Monday, and more grim news is expected.  Analysts believe sales fell to an annual rate of 5.2 million units from 5.36 million in January.  The irony, of course, is that lower home sales could spur buying in bonds and push yields lower.

On Tuesday the FHFA will release its January home price index.  Economists have yet to make projections, but prices fell 0.3% in December and are likely to drop again.

New home sales for February could hold near January’s annual rate 285,000 — a plus in this negative home buying environment.  That’s Wednesday’s only release.

On Thursday we’ll see if initial claims continue to fall.  It’s widely accepted that weak housing sales and low employment are hindering economic recovery.  If claims fall again, that would help the jobs situation, but it would likely put selling pressure on bonds.

Durable goods orders for February are expected to rise, but less than the previous 3.2% increase.  Excluding transportation, orders should increase 2.1%, but this report generally has a minimal effect on Treasuries.

On Friday the final 4^thquarter GDP is due, and analysts believe it could edge up one basis point to 2.9%, which shouldn’t move the markets.  The final Thomson Reuters/University of Michigan consumer sentiment survey could rise to 69 from 68.2 — a possible negative for bonds.

USA Today (03/16/11)