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Mike Mueller

Sept. 19th in Vegas, the Team of Mike Mueller & Morgan Brown will be taking on the online mortgage technologies.

by Mike Mueller Mortgage Leads

But we need your help.
We’ll be working “The Pitch”
http://wiki.blogworldexpo.com/Speakers/Mike_Mueller
They’ll have a couple of minutes to pitch their products and then M & M will do our best to hit them with the hard questions.
Who are they?
Zillow’s Mortgage Marketplace, RateSpeed, and SmartHippo (plus a couple more)
If you have a question or point you would like me [...]

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Should I refi?

by Mike Mueller Mortgage News

Ok, maybe the question should be,
“Can I refi?”
Whether you can or cannot, the Fed’s (as in the Federal Reserve Board) just announced a new site for homeowners that is supposed to help them decide if it is better to refinance or stay with what they have.
http://www.federalreserve.gov/pubs/refinancings/default.htm
It does contain some solid and useful information.  It explains [...]

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Old School?

by Mike Mueller Mortgage Events

REBlogWorld
TransBox envelopes?  That’s old school.
You can bet we won’t be discussing TransBox envelopes at Reblogworld.
Instead you can expect to learn all about the latest and greatest cutting edge technologies that you can employ right now to increase your business.  Information you can use!
Serious about your business?  You need to be in Las Vegas Sept 19th.

Watch [...]

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Fed Watching

by Mike Mueller Mortgage News

Why do I spend time watching and waiting for the Fed’s decision?
To tell you the truth.  I’m not sure.
Maybe just to be able to say I’m informed.
Well here’s the news.
“The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent“
Now, I’m off to read the text of [...]

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FDIC shuts down Indymac

by Mike Mueller Mortgage Customers

Straight from the FDIC:
On July 11, 2008, IndyMac Bank, F.S.B., Pasadena, CA was closed by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) was named Conservator.  All non-brokered insured deposit accounts and substantially all of the assets of IndyMac Bank, F.S.B. have been transferred to IndyMac Federal Bank, F.S.B. (IndyMac Federal [...]

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T-minus 1 Hour 59 Minutes…

by Mike Mueller Mortgage News

tick,
tick,
tick…

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Indymac Bank Closes!

by Mike Mueller Mortgage Rates

It’s official!
Indymac Bank is closed for wholesale operations!   Retail too.
http://theimbreport.com/
As a result of the above, we have made the difficult decision, effective July 7, 2008, that we will no longer accept any new loan submissions or rate locks in our retail and wholesale forward mortgage lending channels, except for our servicing retention channel. We [...]

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Wachovia Announces NO MORE NEG AM

by Mike Mueller Mortgage News

Wow!
Just popped up on my feedreader.
No more Pick-a-Pay, no more anything that has a negative amortization.  Period!
Can I keep my Calculator?
What about the cool spreadsheets I created?
Seriously, The Neg Am loan has a very valuable place in the finance world when properly used.  I believe Wachovia (world Savings) had the highestperforming Neg Am Portfolio in [...]

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The Last Day of Countrywide

by Mike Mueller Mortgage News

Today, June 30th, is the last day Countrywide will exist as itself.
Tomorrow it’ll be Bank of America.
Did you know Countrywide started in 1969?
No, I wasn’t lending back then, I was 10 years old.
Yes, Countrywide has received it share of bad press recently.
Deservedly or not, they’ve also done some good things.

Was the B of A merger [...]

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We’re all connected

by Mike Mueller Mortgage News

I was watching the pre-market open and the news of G.E. earnings coming out substantially lower had a big impact on the market.
And what dragged G.E.’s numbers down you ask?
They cited the “inability to complete asset sales”.
What kind of assets were they trying to sell?
Mortgage related of course! The buyer reportedly could not get [...]

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ZMM - I’m working on my plan

by Mike Mueller Mortgage News

You can count me as one of those in favor of Zillow’s Mortgage Marketplace.

Almost.
I haven’t quoted yet.
I need to finish working on My Plan first.
Plan Your Work - Work Your Plan!
Pricing? - no problem there.
Fees? - same thing.
Profile? - updated! (you did update yours didn’t you?)
I know I’m competing with “Quote Mills” from [...]

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"Transparency" is load of hooey

by Mike Mueller Mortgage Marketing

I wanted to post this yesterday but didn’t want it to be categorized an April Fools post.
Why? Because I’m serious.
Has “Transparency” become just another marketing buzzword much like the “Green” movement?
I’m Green as they come.
I recycle everything, fluoresce everything, and run almost paperless.
I ride a bike that averages around 40 MPG. I choose to [...]

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The Mortgage Haiku Collage

by Mike Mueller Humor

Heavy conversations have been dominating my RSS this week about YSP (It’s a great post and what great commentary as well!). 
But it’s Friday, and I need to go into the weekend with a mental break.
So I thought I’d toss a little poetry your way.  Specifically, Mortgage Haiku
What is a Haiku you ask?

The traditional Japanese [...]

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Using LinkedIn Groups

by Mike Mueller Mortgage News

I’ve been on LinkedIn for a while but never really attempted to use it anywhere near it’s full potential. I had a profile, and that was about it.
Todd started me thinking the other day when he launched his Lenderama group in Linkedin. I joined right away (I think I was the third to [...]

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You couldn’t change that in 2 hrs?

by Mike Mueller Humor

Make that 2 Hours and 7 minutes to be exact.
On Tuesday, the Feds announced they were dropping by 75 basis points. I watched it live on CNBC at 11:15 pacific time.
At 11:18 (just minutes later) the Feds sent me an email giving me a link to their FOMC Statement.
A full 2 hours and 7 [...]

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The Longest Email Subject Line EVER?

by Mike Mueller Humor

This is my Funny Friday Post.
I believe the Feds just sent me an email with the longest subject line ever.
Subject: The Federal Reserve is monitoring market developments closely and will continue to provide liquidity as necessary to promote the orderly functioning of the financial system
Maybe Ben doesn’t do email and just got caught [...]

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Ocwen picks up it’s marbles

by Mike Mueller Mortgage News

“We’re not going to play anymore.”
No, they are not the newest addition to the Implode-O-Meter. They are still in business, happily servicing the loans that are still paying them.
Curiously, yesterday the deal to sell Ocwen collapsed. So what do you do when the negotiations for your purchase fall through?
According to my contact, (a [...]

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Another Step Closer…

by Mike Mueller Mortgage News

Just in case you missed it, the OFHEO (Office of Federal Housing Enterprise Oversight) did their thing late yesterday, bumping up the conforming limits for Fannie and Freddie.
Here’s their Press Release, but what you really want is to know what rise your area is going to have. That’s available HERE
My area, the San [...]

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One Step Closer…

by Mike Mueller Mortgage News

One more piece of the financing puzzle just fell into place.
HUD released the FHA limits (at least for California).
Here’s the HUD Press Release
The max amount is now $729,750 for 14 California counties. Those counties are Alameda, Contra Costa, Los Angeles, Marin, Monterey, Napa, Orange, San Benito, San Francisco, San Mateo, Santa Cruz, Santa [...]

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Financial Title UN-Dumped

by Mike Mueller Mortgage News

This being an election year I felt it necessary to provide the following official post In an effort to provide equal time and equal exposure to all.
On February 21st, 2008 I was more than a little puzzled when I received an email from IndyMac Bank stating in very stern words that it would in now [...]

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