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Matt Joy, Princeton Mortgage Wholesale
- Apr 12, 2019
- 3 min
The Secret Sauce
Price. Service. Technology. Efficiency. I don’t care what order they are in. I don’t care which one is valued the most. I don’t care how many different synonyms you can come up with that fluff up the meaning of these words. The reality is… EVERY mortgage lender touts these 4 words as their “differentiators” in some form or fashion. Look, even we did it. We took the words service, technology, efficiency… bundled it up and presented it as “The Effortless Mortgage”. The way in w
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Matt Joy, Princeton Mortgage Wholesale
- Mar 22, 2019
- 2 min
Where have all the Jumbo’s gone?
In 1997 Paula Cole came out with the smash hit “Where have all the cowboys gone?” and as I sipped my cup of Folgers (don’t judge me… boujee coffee just doesn’t do it for me) and read this Wall Street Journal article I couldn’t help but sing the catchy tune. WSJ reported that jumbo mortgage originations have dropped 12% over the last year and are down 27% from their post-crisis peak in 2017 (data was provided by Inside Mortgage Finance). This has created a ripple effect at the
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Matt Joy, Princeton Mortgage Wholesale
- Mar 15, 2019
- 2 min
Around the horn… or considering the month maybe it’s around the clover?
Okay, so I’m working out getting back into the swing of things with the blog and what I’m realizing is that developing brand new content is exhausting… especially considering the fact that writing about the mortgage industry means re-purposing the same thing over and over again. So… with that in mind. Let’s just take a quick spin around the horn and look at what happened this week. First and foremost, let’s take a look at the 10-year Treasury Note. We’re sitting around the mi
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Matt Joy, Princeton Mortgage Wholesale
- Mar 12, 2019
- 3 min
My fellow Millennials…
If you do a quick Google search with the key words “Millennials” & “Mortgage” you’ll find stockpiles of articles, analysis and data trying to figure out what OUR (I’m a millennial… FYI) ultimate impact will be on the housing market. Now, we’ve already started to see a shift in buying power as Business Insider reported that Millennials control 42% of new mortgage loans by dollar volume… surpassing Gen X’ers (these are the 90210, Melrose Place & Real Word crowd) at 40% and the
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Matt Joy, Princeton Mortgage Wholesale
- Mar 5, 2019
- 3 min
Oh my… it feels good to be back!
Our last official blog was written 77 days ago… which makes my last official post 104 days old. It’s been way to long since I’ve taken to the blog, but now that I’m back let’s catch up. The last time we talked I was rambling on about mortgage servicing, UWM and “whole-tailing” …well it looks like nothing has really changed in 104 days. The wholesale lending giant made an extremely aggressive move to kick off the new year and adjusted their pricing so that they could proclaim
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Peter Gallagher, Princeton Mortgage Wholesale
- Nov 14, 2018
- 2 min
Fun in the Sun?
It appears not everyone can enjoy the Golden Coast. When people think of California, they think sunshine, relaxing and laid-back attitudes in an American paradise. It’s been one of the most desirable states for transplants since the 1980’s, with large increases in the early 90’s and then again just after 2000. But the largest state on the west coast may have reached its affordability tipping point. Home sales this past September were the lowest since September of 2007, which
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Matt Joy, Princeton Mortgage Wholesale
- Oct 5, 2018
- 3 min
Trick or treat
I feel like I haven’t spoken to everyone in a while. I apologize for being so distant… trust me, it’s not you… it’s me. It’s been a crazy few weeks with travel, Q4 planning and trade shows (man I’ve become that person… blah). In all honesty though, starting something from scratch has not been easy. A little over a year ago we opened the doors at Princeton Mortgage Wholesale and since that day, everything has been a whirlwind. You wouldn’t believe how quickly the seasons chang
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Peter Gallagher, Princeton Mortgage Wholesale
- Oct 3, 2018
- 2 min
Mortgage Fraud is on the Rise
The risk of Mortgage fraud has increased more than 12 percent this year, and that was just at the end of Q2. We still must get the reports from Q3, and we have 3 months left this year that can still influence that trend. Home values are high, the housing industry is competitive, and that’s leading some borrowers to lie and cheat to get into the market. In the big picture, home purchases are more likely to have issues with fraud than refinancing. We know that refinance activit
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Rich Weidel, Princeton Mortgage
- Sep 7, 2018
- 6 min
The Offer
We pay people to quit at Princeton Mortgage. We do it because having a team of amazing people is the most important thing we do. Without a team of great people, we can’t do great work for our customers. How does it work? After a new employee’s first 30 days they receive “The Offer” to quit and get $2,500. About 10% of people decide that this isn’t the right place for them and accept “The Offer.” We only want to work with A Players who want to be here. Below is “The Offer” an
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Peter Gallagher, Princeton Mortgage Wholesale
- Aug 31, 2018
- 2 min
Crucial Conferences
No matter what industry you find yourself working in, whether it be medical, technology, or housing… it’s almost a guarantee there’s some sort of professional conference that you can involve yourself in. There’s the Agents of Change Summit in San Diego, the famous SXSW tech conference in Austin, and our friends at HousingWire will be hosting their engage.marketing conference September 13th & 14th. As mentioned before, we here at Princeton Mortgage Wholesale will be attending
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Peter Gallagher, Princeton Mortgage Wholesale
- Aug 27, 2018
- 3 min
The Correction Opportunity
That’s what I look like when I hear the words ‘market correction’. It’s simple cause end effect. An action is taken, and a result is produced. What happens when housing prices drop? A chance for investors to stack some bills. Like some other ambitious 20-somethings, I have a good friend who’s been toying with the idea of buying a house for the past two years. We’ve always had serious intentions in purchasing investment properties and already have (the beginnings of) plans in
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Peter Gallagher, Princeton Mortgage Wholesale
- Aug 24, 2018
- 3 min
Breathe in, breathe out. (Most of us) will make it…
I know it, you know it, everyone knows it. There’s a market correction coming in between 2019-2022. Our economy is artificially propped up and it’s currently teetering on its stilts. The last time the Dow Jones lost over 54% of its value was from 2007-2009. If we’re in for another roller coaster ride like that, there will be a few headaches before we get off. But should everyone be screaming? Who will make it through the ride just fine? You may be saying ‘Just fine? Our prope
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Erica Higgs, Princeton Mortgage
- Aug 23, 2018
- 2 min
The “How-To Guide” to staying leveled headed in the mortgage industry.
You know this feeling… it’s 4pm and that project you’ve been working on isn’t even half way finished and its due tomorrow. If there is one thing I do know, it’s that working in the mortgage industry can be very stressful and overwhelming. It is important to know how to manage and overcome all the anxiety and pressure we feel daily, so we do not allow those feelings to take over and hinder us from getting the job done. After all, we are here to help connect our borrowers t
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Josh Teti, Princeton Mortgage Wholesale
- Aug 22, 2018
- 3 min
A Year in Reflection
Guess who’s back, back again… Teti’s back, tell a friend! Oh it feels good to be back in the blog scene. We’ve been doing some very exciting things here at Princeton, so I am sorry about the short hiatus. It’s kind of like when those authors go off the grid and then show back up with a full series of Harry Potter novels. Well… maybe not to that scale but you get the idea. Yesterday marked my 1-year anniversary here at Princeton Mortgage. Now you may think that the title of th
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Matt Joy, Princeton Mortgage Wholesale
- Aug 13, 2018
- 2 min
Brokers continue to flee from “Whole-tail” lenders, while paychecks are getting smaller… wait, what?
There has been a large movement happening inside of the Wholesale Lending space and if you haven’t been following the BRAWL Movement (Brokers Rallying Against Whole-tail Lenders) …let me catch you up to speed. Late last year, mortgage brokers took arms against wholesale lenders who were stealing their customers. If you happen to follow any brokers on LinkedIn, you’ll find some pretty amazing videos of them tearing up their contracts with alleged “Whole-tail” lenders. Well… it
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Matt Joy, Princeton Mortgage Wholesale
- May 7, 2018
- 2 min
What a team and what a day…
Yesterday, the team here at Princeton Mortgage (Pittsburgh) ran the 10th Annual Pittsburgh Marathon. I must say that for five guys that drink more beer than water… I’m awfully proud. Additionally, we have a list of injuries like a hockey team. Earlier this winter, Charles Howell (National Closing Manager) sprained his ankle playing rec basketball and in the process of spraining that ankle he also chipped a bone in his foot. Joshua Teti (Processing & Opening Manager) pulled hi
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David Star, Weidel Real Estate
- Apr 10, 2018
- 2 min
A new trend in mortgage lending
Wells Fargo is once again in the spotlight. The Consumer Financial Protection Bureau is considering fining Wells Fargo hundreds of millions of dollars for its mortgage-lending and auto-insurance abuse. Issues arose when a Wells Fargo mortgage banker alleged that the bank falsified records, so it could blame mortgage-processing holdups on borrowers. Additionally, there were claims and accusations of improper mortgage fees. Wells Fargo announced that it would refund "rate-lock
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Charles Howell, Princeton Mortgage Wholesale
- Mar 30, 2018
- 2 min
30-year mortgages in just 30 minutes? Really?
Technology is defined as the practical application of knowledge in a particular area. As we’ve all gotten older, these practical applications have enhanced so many areas of our everyday lives. And as we relate it to the mortgage industry, we see how much times have changed. But we also see many promises towards a completely digital-type of lending future. I’m not sure about you, but after I hear and read promises of “30-minute mortgages” and “click button, get mortgage”, I ca
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Matt Joy
- Mar 12, 2018
- 3 min
The Mortgage Broker Renaissance
In Adam McKay’s adaptation of Michael Lewis’ ‘The Big Short’, the mortgage broker is depicted as a smooth-talking con-artist that has little to no interest in the well-being of their borrowers. At one point, after the broker begins discussing how successful they’ve become because of writing NINJA loans (no income, no job) Steve Carrell’s character pulls his team together and asks, “Why are they confessing?” to which one of his teammates says… “They aren’t confessing... they’r
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