How can I buy these risky mortgage backed securities I keep hearing about?

Supposedly, investors who invested in these mortage backed securities are taking a bath, and the securities have declined big time, right?





Well, these securities must have some value, I mean not every loan is defaulting, and even the ones that are are backed by homes with some real value.





So I figure since everyone is freaking out about these securities, they must be really cheap now. How can I invest in them at today's sale prices?How can I buy these risky mortgage backed securities I keep hearing about?
These MBS trade in units of several million dollars. You can't invest $10,000.





Also, it requires a significant amount of back office support to track each individual mortgage in the portfolio and account for payments, prepayments, pay offs, etc.How can I buy these risky mortgage backed securities I keep hearing about?
They are sold in 'packages' of (at least) a few million $$'s at a time ..... there MAY be some specialist Funds that invest in this type of security .. however you might do better to simply buy Bank shares or property funds direct :-)
go to any commercial bank or brokerage house...open a account///////////// tell them what you want to buy and do it...........

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What are good indicators for future mortgage loan interest rates?

Looking to lock a interest rate in the next week. I can lock at just under 5% today, but could have locked at 4 7/8% one day last week.What are good indicators for future mortgage loan interest rates?
I worked in the mortgage industry for many years. Rates this week are great. The 10 year T-Bill, which the 30 year mortgage rate is at historic lows. 30 Year mortgages are not going to get much better.





Since you are quoting a 5% rate, I would think you are looking at a 1 year ARM and not a long term fix loan. The long terms loans will probably drop a bit more since they are tied to the federal funds rates (ie short term rates). The fed seems prepared to lower the rates.





With that said, you have a really rate and Im not sure it is worth the gamble for it to drop much more.What are good indicators for future mortgage loan interest rates?
It's all a guessing game, but in my opinion...





They're not going to go down. As the economy gets worse, they'll increase. During the last recession, inflation went up and rates were in the double digits.

Is the monthly interest on my mortgage computed from the due date or the actual date of payment?

It's usually computed on average monthly balance (i.e. balance each day divided by 30). So, it's usually better to pay early and thus lower the average balance.Is the monthly interest on my mortgage computed from the due date or the actual date of payment?
I think it depends on the lender. On a 1st mortgage, you make regular installment payments that are principal and interest. Whether you pay early, on the due date or within the grace period the payment will probably be allocated to the interest first and then the principal. If you pay early, you are reducing the principal balance early and that will affect the interest computations over time. The affect would be more pronounced if you were making an extra payment each year if you made it in January rather than December.





I have noticed though on my 2nd mortgage when I made a 2nd payment, which I intended to go against the principal, they applied it first to the accrued interest and then principal. The affect was that when the next payment was applied, the bulk of it was applied to principal.





Interest is only so much each year. When it is paid doesn't have anything to do with the amount of interest that is paid. Only the principal balance used to calculate the interest charges per period will affect the amount of interest. Therefore, the sooner principal reductions are made during the life of the loan, the more the interest charges will be reduced over the life of the loan.





Does that make sense? I hope so.Is the monthly interest on my mortgage computed from the due date or the actual date of payment?
If you have a simple interest loan, If the payment is due on the first of each month, it must be received on or before the first. If you go past that date, you are charged add'l interest every day until paid. It's called per-diem. You should request an amortization that will give you a break down between interest/principal.

How can I help grow my mortgage business?

Let me start by saying that I currently have employees cold-call, we use direct mailers, in a few phone books, I am a member of a few neighborhood organizations...I am looking to increase my business for me and my employees. Any help would be so greatly appreciated!How can I help grow my mortgage business?
You need to market Realtors. Go to www.askbrianpeart.com. and sign up for his program. I actually worked for him in his West Palm Office. But now I moved on to doing commercial deals. Good Luck.How can I help grow my mortgage business?
I to also own my own mortgage business. You will never get customer loyalty by cold calling. You need to network with Realtors, CPA's and attorneys. Concentrate on purchase money and the refinance business will follow. Also, i recommend you educate yourself in non-conforming lending. Let me know if you want more info. Where are you locate?
I assume you already know to market Realtors, and you should place an add in there Monthly listings book- Title Companies are also good allies- and Add in the local Shoppers, and Write a Mortage Tip sheet- for the shopper, something that gets some attention. Small builders who build a few Spec Homes, might let you leave you Ads in there new homes or any builder if they are not lined up with a Mtg company already. Go to Realtor Open House.
Optimize your website and use paid search marketing. Read more http://www.search-matters.com
I would recommend you talk to and work with Realtors. They are directly involved with your potential customer, a home buyer or seller.





You may have some success by working with chambers of commerce, and perhaps serve as an ambassador. This takes more time but puts you in touch with a lot of people, who have contacts.

How can I help grow my mortgage business?

Let me start by saying that I currently have employees cold-call, we use direct mailers, in a few phone books, I am a member of a few neighborhood organizations...I am looking to increase my business for me and my employees. Any help would be so greatly appreciated!How can I help grow my mortgage business?
You need to market Realtors. Go to www.askbrianpeart.com. and sign up for his program. I actually worked for him in his West Palm Office. But now I moved on to doing commercial deals. Good Luck.How can I help grow my mortgage business?
I to also own my own mortgage business. You will never get customer loyalty by cold calling. You need to network with Realtors, CPA's and attorneys. Concentrate on purchase money and the refinance business will follow. Also, i recommend you educate yourself in non-conforming lending. Let me know if you want more info. Where are you locate?
I assume you already know to market Realtors, and you should place an add in there Monthly listings book- Title Companies are also good allies- and Add in the local Shoppers, and Write a Mortage Tip sheet- for the shopper, something that gets some attention. Small builders who build a few Spec Homes, might let you leave you Ads in there new homes or any builder if they are not lined up with a Mtg company already. Go to Realtor Open House.
Optimize your website and use paid search marketing. Read more http://www.search-matters.com
I would recommend you talk to and work with Realtors. They are directly involved with your potential customer, a home buyer or seller.





You may have some success by working with chambers of commerce, and perhaps serve as an ambassador. This takes more time but puts you in touch with a lot of people, who have contacts.

How will you pay the rent/mortgage whilst you're on maternity leave?

I'm surprised at how much maternity benefits vary from company to company and country to country. How are you planning to cover things like mortgage/rent payments whilst you're on maternity leave?How will you pay the rent/mortgage whilst you're on maternity leave?
It is absolutely crazy how maternity benefits vary between companies and countries. I live in the US and work for a university. The university offers relatively good maternity benefits as far as US maternity benefits go, but they're still not great or enough to live on. Instead, I have decided to go a different route when the baby comes. I have been saving up all of my sick and vacation time, and even put every additional hour I worked into my comp time (this is time you build up from working overtime, so for each hour you work over time, you get 1.5 hours comp time and can take days off with that time). By saving up so much time, I will be getting paid my full salary while on maternity leave (until my time runs out, of course). Also, my husband and I have put a lot of money away in our savings account, so we can pay our mortgage or any bills that arise. Our savings wasn't created specifically for maternity leave, but just anytime when we needed it to fall back on. My husband will also be working while I'm on leave, so hopefully we won't have to touch the savings. Best wishes!

How do you subordinate a second mortgage?

I am trying to help my client refi his first mortgage, but in order to do that I have to subordinate his second mortgage. The lender that I'm trying to sub is Chase. Any help would be greatly appreciated.How do you subordinate a second mortgage?
I have successfully gotten subordination agreements from Chase. They have a form to fill out, will want $100 or $200, %26amp; more than likely will want a copy of your appraisal. It will depend on what your CLTV will be. And they do NOTHING quickly. I agree. This is basic mortgage 101.How do you subordinate a second mortgage?
A second (or third, forth, etc.) mortgage is subordinate to a senior mortgage by definition. What exactly are you trying to do?
A second mortgage is that a second. They will not relinquish there position. If you are going to refi the first mortgage there will be no problem unless chase has a problem with the additional mortgage payments from your client. They will protect there investment.
Umm, YOU are supposed to be the loan officer, shouldn't you know this? Why do you have clients and why are you doing their loans if you don't know how?





Sorry, but that's mortgage 101. You asking that here is an embarassment to everyone.
you aren't going to accomplish that without Chase's written agreement.





now, what would they get out of doing so?


paying down some of the principle on the first?








:-)
Contact Chase and tell them what you are doing and the benefits of the refinance. As long as you are moving your client into a better situation they will allow a subordination. You will need them to sign a subordination agreement. have your processor work on this while you generate more loans.

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