We Are Hiring!

Housing news dominated the headlines this morning with positive home price data hitting the wires. First up was CoreLogic reporting that its national Home Price Index on a year-over-year basis in the month ended in June rose by nearly 12% as the sector continues to improve. From May to June, prices rose by almost 2%. In addition, home prices are expected to rise by 12.5% year-over-year basis in July. However, prices are still down 19% from their peak hit back in April 2006. All of the figures include distressed sales.

To further bolster price appreciations in housing, Clear Capital reported that national home prices surged 9.3% in July 2013 from July 2012 and gained 1.6% over the last quarter. Clear Capital did say that prices remain 33.4% below peak values. For the last half of 2013, the firm sees a moderation in home price trends.

President Obama will be in Phoenix, Arizona later today speaking on the housing market and in particular, the future fate of Fannie Mae and Freddie Mac. The government bailed out the two mortgage giants to the tune of nearly $200 billion after the housing market collapsed in 2008 and the plan is for their roles to diminish and let private sector capital take on a bigger role in the mortgage market.

Positive News Today

Economic data was abundant today and the reports were slanted towards the positive side.

First up was the advanced reading for second quarter Gross Domestic Product (GDP) showing that growth in the quarter rose by a rather dismal 1.7%. That was better than the 1.1% that was registered in the first quarter and above the 1.1% expected. The 1.1% in the first quarter was revised lower from 1.8%. The 1.7% reflected an uptick in inventories and as consumer spending eased. GDP measures the market value of goods and services produced by labor and property in the United States.

Over in labor market news, ADP reported that private employers added 200,000 new jobs in July, above the 175,000 expected while the June number of 188,000 was revised higher to 198,000. The gains were seen across the board in businesses of all sizes. The ADP precedes the government's monthly jobs report that will be released on Friday morning.

The highly anticipated Federal Open Market Committee statement will be released this afternoon at 2:00pm ET and will be closely scrutinized by market watchers around the globe. In particular, players will be looking for any hints of an ease in the Bond buying program enacted by the Fed to accelerate U.S. growth and to support the labor markets and to keep interest rates low.

Loan Officers Wanted

We have Realtors wanting to Establish Relationships with Motivated Mortgage Originators!

If you are a Licensed Mortgage Loan Officer ready to take your career to the next level we have the tools to get you where you want to be. Sure we offer Competitive Compensation and Full Benefits but most companies do that.  What Sets Crossline Capital Inc., Ontario Branch a part from the rest? Here are just a few examples:

 Business Development Manager to help build Realtor Relationships.

Social Networking Classes with the Industry’s best.

Marketing Tools that really work.

Experienced in house Branch Processing expert and Production Assistant

Supportive company and exceptional staff looking for ways to APPROVE loans

Competitive Rates and a variety of loan Programs to provide the best for your Borrowers

If you are a Knowledgeable and Experienced Originator ready to benefit from these and the many other benefits that Crossline Capital has to offer don’t let this opportunity pass you by!

 Contact us:

Tami Glass Fernandes

Office:  909-467-2000   Fax: 909-988-4005

Email tglass@crosslinecapital.com            

Wells Fargo announced this week that it will be laying off 300 workers in its joint venture home lending unit due to new regulatory changes. Those holding student loans can breathe a sigh of relief today after the Senate passed a bill that would lower the interest rate to 3.9% from 6.8% and will be approved by the House. The regularly scheduled Federal Open Market Committee meeting will be held next week with a monetary policy statement being released at 2:00pm ET on Wednesday.

Loan Officers Wanted

Are you a licensed loan officer? Are you happy where you are?  Are you looking for an opportunity to take your business to the next level? Crossline Capital may be exactly what you are looking for. I would love to schedule a personal and confidential appointment to see if we may be right for you and your business. 

Tami Glass 

Crossline Capital 

Business Development Manager 

Office 909-467-2000