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“What’s exciting for the mortgage industry is that we’ve seen improvement in the housing market and we saw that in 2012. Looks like it’s going to be even better than that in 2013…”

“People are buying homes. There are good loans and good opportunities for people…”

- Paul Anastos, President of MMI

Today’s lending environment is dynamic and filled with opportunity, but it can also be volatile and confusing.  For 25 years, Mortgage Master has worked to provide valuable and timely economic advice to our customers while staying ahead of the challenges our economic, political and social environments present.  In doing this, we have been able to consistently deliver the lowest possible rates and the highest possible level of customer service, while enjoying remarkable growth in both the number of customers served and the number of top professionals desiring to build their careers with our company.  In 2012 alone, we helped nearly 24,000 customers with their financing needs.

Recently many of our professionals were honored in mortgage industry publications for being among the top producing loan officers in the United States.  According to Mortgage Executive’s just released list of the top 200 loan originators, Mortgage Master, Inc. had more professionals in the top 50 with 8, than any other firm.  Additionally, 18 of our professionals were ranked in the top 200.  This represents 7% of our loan officers. 

Scotsman Guide, another leading industry publication released its “Top 200 Originators List.” Mortgage Master, Inc. professionals showed prominently with 19 entries on their list. In addition, the Scotsman Guide also recognizes the top 1% of originators in the Country.  We had 70 people, over 34% of our sales force, qualify for this list in 2012. Pretty incredible numbers.

While our goal has never been to be the biggest firm, the individual performances as well as the performance of the company as a whole does serve as an endorsement by the thousands of customers that we have served, that our group of loan officers and operations staff is among the very best in the nation.

At Mortgage Master, Inc. we are a team. All of our accomplishments are a result of our team working together.  Yet, today we celebrate the accomplishments of the particular team members listed below and promise to continue to support them in the development of their careers, just as they support their customers in the ever increasing financial needs.

 Selected for inclusion in Mortgage Executive Top 200 Originators 2012  and/or Scotsman Guide Top Originators 2012:

 Congratulations to these industry leaders!

Recent reports from the Harvard Joint Center for Housing Research and comments from Yale economics professor Robert Shiller, a prominent researcher on housing’s impact on the economy, question the wisdom of homeownership.  With all due respect to these academic theorists, in the real world, where consumers reside, the positive impact of homeownership can simply not be overstated.  Leaving aside the myriad non-financial benefits that accrue to individuals, communities and society in general from high levels of homeownership, homeownership is simply the single most important financial decision related to retirement.  

Let’s first take a look at some selected facts related to retirement savings in the US as compile by Motley Fool:

• Only 42% of private sector workers age 25 to 64 have any pension coverage in their current job. That’s lower than the 50% who had pension coverage back in 1979.(Source: Center for Retirement Research)
• 30% of workers in a 2012 study reported that they had less than $1,000 in savings and investments. (Source: Employee Benefit Research Institute)
• A 65-year-old couple retiring in 2012 is estimated to need $240,000 to cover medical expenses throughout retirement. (Source: Fidelity Investments)
• One-third of households end up entirely dependent on Social Security; for low earners that portion is 75%. (Source: Center for Retirement Research)
• 21% of workers covered by 401(k) plans choose not to participate. (Source: Center for Retirement Research)
• A typical worker should accumulate about $363,000 by the time he or she retires. According to the Fed, a typical household approaching retirement had 401(k)/IRA balances of only $120,000 in 2010, far short of the projected amount for the individual. (Source: Center for Retirement Research)
• 60% of workers report that their total household savings and investments, excluding the value of their home and any defined benefit pension, is less than $25,000.(Source: Employee Benefit Research Institute)

So, less than half of workers today have any pension coverage, and more than half report that they have less than $25,000 in assets, excluding their homes.  Now consider these facts:

• Home Equity represents 2/3 of the assets of those nearing retirement (Society of Actuaries)
• Average Equity of US Homeowners is 41% (US Federal Reserve)
• 60% of homeowners have no mortgage at all (US Federal Reserve)
• Average US Home Value is $180,600 (Case-Shiller Home Price Index)

The truth is plain to see.  Homeowners have far greater assets in retirement than do non-homeowners.  The reason is simple: not only do homes have the potential to grow in value, but most importantly, they are depositories of savings created through the disciplined repayment of mortgage loans.  Whether or not homes represent the “best investment” is not the question that should be asked.  Homes are far more than an investment. The better question is does homeownership substantially improve the financial position of retirees. The answer is clear, unless apparently, you approach it academically. Now…back to the real world.

Tips to a Healthier Heart  

Many things can put you at risk for heart disease – one’s you can control, and others that you can’t. But the key takeaway is that with the right information, education and care, heart disease in women can be treated, prevented and even ended.  

Studies show that healthy choices have resulted in 330 fewer women dying from heart disease per day.  

Here are a few lifestyle changes you should make:  

• Don’t smoke
• Manage your blood sugar
• Get your blood pressure under control
• Lower your cholesterol
• Know your family history
• Stay active
• Lose weight
• Eat healthy

MMI EMPLOYEES SUPPORT THE AMERICAN HEART ASSOCIATION!

Over 150 employees from our Walpole Headquarters were rocking RED today in honor of “Go Red for Women!”

There is a saying about a particular haircut that was popular in the 1980’s—the “mullet”, that says it represents “business in the front and a party in the back.”  While I never particularly liked that hairstyle, I do appreciate its description.  It suggests that there is a time for seriousness and a time for enjoyment, and that one person can pursue both without difficulty.  A variation on that concept is occurring presently in the mortgage industry, but this bit of “multi-tasking” is not about a bad haircut or being serious or fun-seeking, but rather about presenting a consistent, trust-worthy presence to consumers while simultaneously working hard to adapt to a bevy of new rules and changing market conditions.

The mortgage origination business has always been about trust—trust between consumers and lenders and trust between lenders and investors in mortgage-backed securities.  In the middle of last decade that trust broke down for a number of reasons and a crisis emerged.  However, through it all many consumers, lenders and investors stayed true to their principles and, though weakened by the economy and the real estate market’s struggles, lived up to the faith upon which the trust of others was founded.

It is now 2013, we have put some distance between ourselves and the worst of the crisis.  The economy is improving.  The real estate market is making real strides to regain lost territory.  The mortgage industry has faced unprecedented scrutiny, and rightfully so.  Regulation upon regulation has been proposed, debated and passed.  Implementation of these regulations has begun.  Some have changed the way the industry functions, but mostly they have locked-in a degree of common-sense that was missing from all-three mutually dependent groups—consumers, lenders and investors.

When consumers view our business all they will see is the same professionalism, genuine concern and expertise we have always portrayed.  What they won’t see however, is the hard work going on behind the scenes to ensure that this 25-year-old lender is busy incorporating the common-sense reforms that will define the industry going forward.  The proof of our commitment lies, not in our hairstyle, but rather in our longevity and thousands of genuinely satisfied customers.

We welcome the opportunity to earn the trust of a new generation of consumers and investors.

by. Bonnie Sinnock  |  National Mortgage News  |  January 30, 2013

Northeast-based residential retail lender Mortgage Master continues to seek expansion possibilities in promising geographic markets, an executive told this publication Wednesday.

“Right now we have several branch opportunities,” Paul Anastos, president, said in a phone interview.

The company recently opened a Williamsburg, Brooklyn branch headed by managers Peter Costakos and Peter Lucia, and Anastos said the company has targeted growth in the surrounding tri-state area.

In addition, Anastos said it finds “significant growth” in the Chicago area and Southern California areas such as La Jolla and San Diego.

On Friday, February 1, we invite all of our employees, customers and partners to wear red to help increase awareness on heart disease.

The cause is referred to as Go Red for Women.

Funds raised by Go Red For Women allow the American Heart Association to help women by offering educational programs, increase women’s understanding about their risk for heart disease and support research to discover scientific knowledge about heart health. They use this science to provide materials and tools that healthcare providers and decision-makers can use to help women. Scientific guidelines on women and healthcare providers receive the most up-to-date strategies and treatments tailored to a woman’s individual risk.

Since the first National Wear Red Day 10 years ago, tremendous strides have been made in the fight against heart disease in women, including:

• 21% fewer women dying from heart disease
• 23% more women aware that it’s their No. 1 health threat
• Publishing of gender-specific results, established differences in symptoms and responses to medications and women-specific guidelines for prevention and treatment
• Legislation to help end gender disparities

But the fight is far from over as still hundreds of thousands of women still die each year. It’s time to stand stronger, speak louder and join us in the fight this National Wear Red Day.

It’s time to Go Red. Join us. 

 

To find out more about this great cause, please visit their website: http://goredforwomen.org/wearredday/

Featured in National Mortgage Professional Magazine

Mortgage Master has announced that it has opened a new branch in New York, the Brooklyn neighborhood of Williamsburg. Mortgage Master’s new Brooklyn branch is located at 697 Lorimer Street and will be led by Co-Branch Managers Peter Costakos and Peter Lucia. Costakos and Lucia bring 27 years of combined residential lending experience to the Brooklyn real estate market and are committed to helping borrowers find the right mortgage solution by combining the lowest rates on the majority of products in the industry and best in class service.

“With a wave of economic development spurred by zoning changes, tax breaks and other incentives, Brooklyn has become an important real estate market, which increasingly includes new condos. Mortgage Master’s offerings are ideal for this market, and opening an office in Williamsburg is simply a win-win for us and Brooklyn borrowers looking to refinance or purchase a home,” said Paul Anastos, president of Mortgage Master.

“From DUMBO to East Brooklyn, the need for personalized mortgage lending has increased in order to help move the economic revitalization of the borough forward and enhance its powerful culture.”

“Mortgage Master has been assisting borrowers in Brooklyn for nearly a decade,” said Costakos. “We know these markets inside and out, particularly the condos and co-ops markets. Mortgage Master is privately-owned with a history of exceptional volume and quality over the past 25 years, which allows us to provide a full-suite of lending solutions where other small and large lenders fall short. We are here to help borrowers, and fill the void that was once dominated by mortgage brokers who have left this market.”

He who fails to plan is planning to fail – Winston Churchill

2013 is upon us and we should all do our best to make it the best possible year for ourselves and our families.  Whether we want to save to buy a home, improve our relationships or advance our career, it is going to take planning. Recently, I came across a blog that provided several interesting thoughts on how to effectively plan for the upcoming year:

Wrap up the previous year…

• Your Accomplishments
• Your End Point Dream
• Goals Measured
• Where Could You Have Done Better
• What Do You Want to Change/Improve

Plan the upcoming year…

• Define/Modify Goals
• Action Steps by Goal
• Build Some Structure

All this is pretty straightforward advice—nothing we haven’t seen before.  However the one point that I feel really needed expanding upon is the final point—building structure into your planning.  You see goals and action steps are merely words on paper until you put them into practice.  It is the processes, routines and habits that we develop and employ that actually determine our success or failure in completing actions and reaching goals. Here are some key elements involved in providing structure to your planning:

1.       Your commitment of time equals your level of prioritization

If you want to accomplish something, or you value it highly, then it requires you to devote the necessary time to it.  No matter if the goal is personal (relationship, development or health-oriented), professional (career-oriented) or financial (security-oriented) we must devote the required time to meet our goals.

2.       Time must be effectively divided

Making the decisions regarding how to divide our time between major goals and priorities is a crucial first step toward success or failure.  How much personal time? How much career or financial time?  

 3.       Time and tasks must be broken down and tracked

The saying that “If it’s not on the schedule it doesn’t get done” is an absolute fact.  However many people make the mistake of scheduling only big events and tasks which provides no ability to manage and track all the smaller pieces and steps that go into getting the job done.  Breakdown all projects and tasks into pieces no bigger than can be accomplished within a single time period set aside for that project or task.

4.       Allow time for catch-up and spontaneity

Don’t schedule every minute of every day.  Allow time in your schedule to catch-up on uncompleted tasks and to simply goof-off.  Over-scheduling produces weariness and ultimately can lead to an abandonment of the schedule.  Be an efficient and productive person, not an over-regulated robot.

5.       Share your goals and be a partner to others in reaching their goals

There are some things we can and must achieve on our own for sure, yet most goals require assistance from others.  Whether it’s weight loss, financial management or skill development we have a much better chance of success with the support and encouragement of others.  Tell others what you want to achieve and ask for their specific help. Likewise ask your spouse, partner, kids, boss, co-worker, friend about their goals and offer your help. Not only are the odds of success much greater, but the process will be far more enjoyable when shared.

Whether this is part of your resolutions or a bigger plan, here’s some ideas on how to make it happen and make it count. 

Have a great year!

Will the New Year be too late?

Low rates are the one sure thing admist the chaos of the looming fiscal cliff.”

No one can say for sure what resolving the “Fiscal Cliff” issues mean for the cost of housing. The consensus amongst economists suggests an improving economic environment with slow, yet more sustainable growth. If that is the most likely scenario, it’s also most likely that mortgage rates and home prices will rise right along with the recovery.

In fact, rates have already risen off of the recent all-time lows and that may prove to be a signal to act now for those that have yet to lock in a mortgage payment that won’t go up even as everything else around you does.

Even though it’s that holiday time of year, we would love to work with you before the New Year arrives to secure your savings.

Want to get a jump on a perpetual resolution?

Call right now and we’ll make sure that this year you’ll have one that you can keep not only now, but for many more prosperous years to come.