So call me!
BOk Mortgages Show Growth
TULSA-BOK Mortgage Group and its regional partners are bucking the national trend. BOK Financial said its Mortgage Groupl is well-funded and is looking for new business in all regional markets. The national mortgage market has declined to 25 percent this year, but BOK's has grown by more than 15 percent in 2008 compared to 2007.
Call me for a new mortgage or refinancing an exsisting one.
Karen Heston
Mortgage Banker
800-947-2655 x-7353
(918)488-7353
kheston@bokf.com
Monday, October 27, 2008
Wednesday, September 24, 2008
Do Not Let The National News Scare You-Tulsa Still Remains a Great Place To Buy & Fund a Home!!!
It Is Still A Great Time To Buy & Finance a Home In Oklahoma
Our Tulsa and Oklahoma economy remains robust, despite the headlines that play out daily on the national media. There are still many mortgage programs out there that enable people to go out and purchase a home. If you watch and read the national news, it is often frightening and creates undue stress to folks here in Oklahoma. Please remember that Tulsa was recently named one of the top 10 best places to live and work in the US. I think it came in 5th place out of the top 100 because of the affordability for homebuyers and the many other amenities that our city has to offer. Do not let the national news get you down. Back in 1983-1987 our economy was hurt by our dependence on local oil related businesses.
This year, we have been blessed by the fact that we still have so many companies that are energy related and it has helped our local economy remain stable.
There are still jobs out there to be had, homes to be bought and mortgages to help buyers achieve their dreams of home ownership.
Get in the game if you are thinking about buying a home. Contact a realtor and please feel free to call our bank for any questions that you have regarding financing your dream home.
You can reach us at 918.481.6833.
Have a great week!
Jeff Sargent
President
ONB Bank & Trust Residential Mortgage Div
8908 S Yale Ave, Suite 250
Tulsa, OK 74137
jeff_sargent@onbbank.com
Direct Line: 918.392.6572
Cell: 918.636.0630
Member FDIC
An Equal Opportunity Lender
Our Tulsa and Oklahoma economy remains robust, despite the headlines that play out daily on the national media. There are still many mortgage programs out there that enable people to go out and purchase a home. If you watch and read the national news, it is often frightening and creates undue stress to folks here in Oklahoma. Please remember that Tulsa was recently named one of the top 10 best places to live and work in the US. I think it came in 5th place out of the top 100 because of the affordability for homebuyers and the many other amenities that our city has to offer. Do not let the national news get you down. Back in 1983-1987 our economy was hurt by our dependence on local oil related businesses.
This year, we have been blessed by the fact that we still have so many companies that are energy related and it has helped our local economy remain stable.
There are still jobs out there to be had, homes to be bought and mortgages to help buyers achieve their dreams of home ownership.
Get in the game if you are thinking about buying a home. Contact a realtor and please feel free to call our bank for any questions that you have regarding financing your dream home.
You can reach us at 918.481.6833.
Have a great week!
Jeff Sargent
President
ONB Bank & Trust Residential Mortgage Div
8908 S Yale Ave, Suite 250
Tulsa, OK 74137
jeff_sargent@onbbank.com
Direct Line: 918.392.6572
Cell: 918.636.0630
Member FDIC
An Equal Opportunity Lender
Tuesday, September 16, 2008
Float or Lock?
This was just forwarded to me by Julie VanBoening at First Mortgage in Tulsa.
<http://www.agentxsites.com/> <http://www.mortgagexsites.com/>
There are only four pieces of economic news scheduled for release this week and one of them is a highly important inflation reading. We also have another Federal Open Market Committee (FOMC) meeting, which likely will not bring a change to key short-term interest rates. There is a pretty good possibility of seeing a fair amount of volatility in the markets and likely mortgage rates the next several days.
The first report of the week is August's Industrial Production data tomorrow morning. This report gives us a measurement of manufacturing sector strength by tracking output at U.S. factories, mines and utilities. It is considered to be moderately important but could cause movement in mortgage rates. Analysts are currently expecting to see a 0.3% decline in production. A higher level of output could lead to higher mortgage rates, while a weaker than expected figure should help push rates slightly lower.
August's Consumer Price Ind ex (CPI) will be released Tuesday morning at 8:30 am ET. The CPI is one of the most important reports we see each and every month. It is considered to be a key indicator of inflation at the consumer level of the economy. There are two readings in the report- the overall index and the core data reading. Current forecasts are calling for no change in the overall reading and a 0.2% rise in the core data reading. A larger increase in the core data would likely lead to higher mortgage rates Tuesday, while a smaller increase would be good news.
The FOMC meeting will adjourn at 2:15 PM Tuesday. There is little debate about a possible change to key short-term interest rates at this meeting. The overwhelming consensus is that there will be no change to rates at this meeting. However, the post-meeting statement could very well lead to volatility during afternoon trading as investors dissect it in an effort to find the Fed's expected next move. The wild card is how the ma rkets react to the statement. If we see significant weakness in stocks, the bond market may benefit as a safe-haven from the volatility. This could lead to lower mortgage rates Tuesday afternoon and Wednesday morning.
August's Housing Starts report will be released early Wednesday morning. This report will probably not have much of an impact on the bond market or mortgage rates. It gives us a measurement of housing sector strength and mortgage credit demand, but is usually considered to be of low importance to the financial markets.
Late Thursday morning, the Conference Board will release its Leading Economic Indicators (LEI). This index attempts to measure economic activity over the next three to six months. If it estimates an increase in activity, the bond market will probably fall and mortgage rates will rise slightly. If it shows weaker than expected readings, the bond market may rally and mortgage rates should fall. Current forecasts are calling for a 0.2% decline from July's reading.
Overall, I expect to see some pressure in bonds tomorrow as investors prepare for Tuesday's events. Tuesday will most likely be the most important day of the week with the CPI release and the FOMC meeting. If the CPI eases inflation concerns and the Fed statement doesn't reveal any negative surprises, we will most likely see mortgage rates move lower for the week.
If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.
Julie Van Boening
Professional Mortgage Planner
824 N Sycamore
Broken Arrow, OK 74012
(918) 251-9297 Office
Monday, September 8, 2008
Great News for Oklahoma
By Richard Mize
Real Estate Editor
Oklahoma is No. 1 in home value gains — at a time when homeowners in most of the rest of the country are wondering what hit them in their equity.
The Sooner State led the nation in appreciation, first among the 50 states, for the period ending June 30, the federal government said Tuesday.
With values in a historic general national decline in most of the country — and in a freefall in some places — values in Oklahoma rose 4.9 percent in the second quarter compared with the second quarter of 2007, according to the Office of Federal Housing Enterprise Oversight Home Price Index.
Nationally, values fell 1.7 percent during the same period. The U.S. purchase-only index tumbled 4.8 percent over the year, the agency reported.
Game on"Oklahoma is No. 1! Whew, am I glad football season is back. But wait, that is our housing market," quipped Mike Means, executive vice president of the Oklahoma State Home Builders Association. "Why? Two strong markets — Oklahoma City and Tulsa."
In fact, Tulsa ranked 10th among metro areas, with an increase of 4.87 percent. Oklahoma City ranked 17th with an increase of 4.68 percent.
Quarter to quarter, Tulsa values increased 0.91 percent and Oklahoma City values increased 1.87 percent, the federal agency reported.
"To me it affirms what we have been saying all along. We did not have the overheated market and did not have the investor-speculative market. Slow and steady was our pace and still is. Bottom line, our prices are still increasing, so if you don't buy now, the price is going up. Good news for Oklahoma, I say," Means said.
Repeat playThe federal agency's main index tracks all transactions, purchases as well as refinances. The new numbers echoed second-quarter statistics from the National Association of Realtors.
The Realtors reported that Oklahoma City and Tulsa were among 35 metro areas that showed gains in median home prices in the second quarter.
Oklahoma City's median price of $131,000 was 1.3 percent higher than the $129,300 recorded in the second quarter of 2007 and 4.8 percent higher than the $124,900 recorded in the first quarter, the Realtors said.
Tulsa's median price of $132,000 was 2.3 percent higher than the $129,000 recorded in the second quarter of 2007 and 8 percent higher than the $122,200 median price in the first quarter, the group said.
Gains on the ground"Oklahoma is very fortunate. This is the eighth straight year we are seeing steady increases in home appreciation," said Sam Rader, chairman of the board of Tulsa-based Coldwell Banker Select, which has 20 offices and 700 agents across the state.
"Here in Tulsa, and throughout the state, we have not experienced the sharp increases or decreases in home values that have occurred elsewhere. On the contrary, we have continued to see slight but steady growth during these uncertain times for other markets," Rader said. "This dynamic is fueled by the fact that our market is made up of solid demand from of home owners rather than from real estate speculators."
A strong defenseLawton home builder Steve Barnes, a former president of the state builders association, said the housing market also is benefiting from Oklahoma's strong economy, which is also generally out of step with the nation.
"It is simple. I am on a bank advisory board and see across the board what the different business sectors are doing," Barnes said. "Ag business is stable to very good with the crop prices, even with the fuel costs. Oklahoma being an oil- and natural gas-producing state, this (too) has a strong positive impact. Fort Sill, Altus Air Force Base, Tinker Air Force Base, Vance Air Force Base and the other defense industry businesses are huge impacts on Oklahoma.
"Many states are going backwards but Oklahoma has these three (sectors) pushing our economy where most do not."
X's & O'sThe inner workings of the housing sector itself in Oklahoma also sidestepped some of the factors that are causing other markets to fall, said Victoria Caldwell, a RE/MAX franchise broker-owner in Edmond and vice president of MLSOK.com, the metro Realtors' multiple listing service.
"We didn't have the unfounded appreciation that some of the areas hardest hit had. We also didn't have a mortgage market that was completely dependant upon nonconforming loans. The largest percentage of our properties can be purchased using conforming conventional and Federal Housing Administration-backed loans," Caldwell said.
Barnes said most Oklahoma home buyers "qualified for the loans they received."
If you want to apply for a mortgage please contact
Karen L Heston, Mortgage Banker
BOk Mortgage (918)488-7353
Real Estate Editor
Oklahoma is No. 1 in home value gains — at a time when homeowners in most of the rest of the country are wondering what hit them in their equity.
The Sooner State led the nation in appreciation, first among the 50 states, for the period ending June 30, the federal government said Tuesday.
With values in a historic general national decline in most of the country — and in a freefall in some places — values in Oklahoma rose 4.9 percent in the second quarter compared with the second quarter of 2007, according to the Office of Federal Housing Enterprise Oversight Home Price Index.
Nationally, values fell 1.7 percent during the same period. The U.S. purchase-only index tumbled 4.8 percent over the year, the agency reported.
Game on"Oklahoma is No. 1! Whew, am I glad football season is back. But wait, that is our housing market," quipped Mike Means, executive vice president of the Oklahoma State Home Builders Association. "Why? Two strong markets — Oklahoma City and Tulsa."
In fact, Tulsa ranked 10th among metro areas, with an increase of 4.87 percent. Oklahoma City ranked 17th with an increase of 4.68 percent.
Quarter to quarter, Tulsa values increased 0.91 percent and Oklahoma City values increased 1.87 percent, the federal agency reported.
"To me it affirms what we have been saying all along. We did not have the overheated market and did not have the investor-speculative market. Slow and steady was our pace and still is. Bottom line, our prices are still increasing, so if you don't buy now, the price is going up. Good news for Oklahoma, I say," Means said.
Repeat playThe federal agency's main index tracks all transactions, purchases as well as refinances. The new numbers echoed second-quarter statistics from the National Association of Realtors.
The Realtors reported that Oklahoma City and Tulsa were among 35 metro areas that showed gains in median home prices in the second quarter.
Oklahoma City's median price of $131,000 was 1.3 percent higher than the $129,300 recorded in the second quarter of 2007 and 4.8 percent higher than the $124,900 recorded in the first quarter, the Realtors said.
Tulsa's median price of $132,000 was 2.3 percent higher than the $129,000 recorded in the second quarter of 2007 and 8 percent higher than the $122,200 median price in the first quarter, the group said.
Gains on the ground"Oklahoma is very fortunate. This is the eighth straight year we are seeing steady increases in home appreciation," said Sam Rader, chairman of the board of Tulsa-based Coldwell Banker Select, which has 20 offices and 700 agents across the state.
"Here in Tulsa, and throughout the state, we have not experienced the sharp increases or decreases in home values that have occurred elsewhere. On the contrary, we have continued to see slight but steady growth during these uncertain times for other markets," Rader said. "This dynamic is fueled by the fact that our market is made up of solid demand from of home owners rather than from real estate speculators."
A strong defenseLawton home builder Steve Barnes, a former president of the state builders association, said the housing market also is benefiting from Oklahoma's strong economy, which is also generally out of step with the nation.
"It is simple. I am on a bank advisory board and see across the board what the different business sectors are doing," Barnes said. "Ag business is stable to very good with the crop prices, even with the fuel costs. Oklahoma being an oil- and natural gas-producing state, this (too) has a strong positive impact. Fort Sill, Altus Air Force Base, Tinker Air Force Base, Vance Air Force Base and the other defense industry businesses are huge impacts on Oklahoma.
"Many states are going backwards but Oklahoma has these three (sectors) pushing our economy where most do not."
X's & O'sThe inner workings of the housing sector itself in Oklahoma also sidestepped some of the factors that are causing other markets to fall, said Victoria Caldwell, a RE/MAX franchise broker-owner in Edmond and vice president of MLSOK.com, the metro Realtors' multiple listing service.
"We didn't have the unfounded appreciation that some of the areas hardest hit had. We also didn't have a mortgage market that was completely dependant upon nonconforming loans. The largest percentage of our properties can be purchased using conforming conventional and Federal Housing Administration-backed loans," Caldwell said.
Barnes said most Oklahoma home buyers "qualified for the loans they received."
If you want to apply for a mortgage please contact
Karen L Heston, Mortgage Banker
BOk Mortgage (918)488-7353
Thursday, August 28, 2008
More Bond Money
OHFA has announced a new bond allotment set for September 23, 2008. There will be $40,000,000 for the state of Oklahoma. The rate has not been set but it projected to be around 7%.
The funds are available for down payment assistance not to exceed 3% and are available to first-time home buyers. The definition of first-time home buyers is someone who has not owned a home in the last three years. A displaced spouse as a result of a divorce is also allowed.
Bond money is allowed for anyone who purchases a home in a "target" area.
The funds are on a first-come, first-served basis.
For more information please call me.
Karen Heston - kheston@bokf.com
BOk Mortgage 918-488-7353
800-947-2655 x-7353
The funds are available for down payment assistance not to exceed 3% and are available to first-time home buyers. The definition of first-time home buyers is someone who has not owned a home in the last three years. A displaced spouse as a result of a divorce is also allowed.
Bond money is allowed for anyone who purchases a home in a "target" area.
The funds are on a first-come, first-served basis.
For more information please call me.
Karen Heston - kheston@bokf.com
BOk Mortgage 918-488-7353
800-947-2655 x-7353
Thursday, August 21, 2008
First-Time Homebuyers Tax Credit for Down-Payment By NAHB
Strategic Home Buyers Can Use Tax Credit for a Down-payment
First-time home buyers can accelerate the receipt of the $7,500 from their tax credit and even apply it toward a down-payment.
National Association of Homebuilder's (NAHB’s) Web site explaining the tax credit — www.federalhousingtaxcredit.com — has been inundated by home builders and prospective buyers seeking information on the new benefit.
One of the most commonly asked questions since the credit was enacted concerns how it can be used for a down-payment, and new questions and answers related to this issue recently have been added to the Web site. (See questions 19 to 21.)
First-time home buyers (defined as those who have not owned a principal residence for three years) should be aware of several mechanisms that can narrow or close the gap between the time they purchase their home and the time they take the deduction on their income tax return.
NAHB successfully pushed for a rule that allows qualified home buyers making a home purchase in 2009 before the July 1 cut-off date to claim the $7,500 credit on their 2008 tax return — in effect, one year early. Also, home buyers who purchase a home after filing their 2008 tax return with the IRS in 2009, may file an amended tax return that includes the credit.
As a result, the qualifying home buyer can significantly reduce the time it takes to receive the cash benefit of the tax credit.
More fundamentally, strategic home buyers have a more effective option in their hands. Prospective home buyers, who are certain they qualify for the credit based on the income limits and the first-time buyer test, can adjust their income tax withholding today through their employer.
IRS Form W-4, which is typically submitted by most workers when beginning a new job, allows taxpayers to adjust the amount of automatic income tax withholding in anticipation of certain tax credits. The form states, “You can take projected tax credits into account in figuring your allowable number of withholding allowances.”
Home buyers who expect to claim the tax credit can reduce their withholding, thereby increasing their take-home pay (net of income tax) and allowing them to begin to claim the expected tax credit for use as a down-payment.
This is done by adding the expected credit amount to line 5 or reducing line 6 (additional withholding) of the Deductions and Adjustments Worksheet on the W-4 and recalculating their income tax withholding. Similar adjustments can be done by home buyers making quarterly estimated tax payments.
Home buyers must be careful to understand the rules for both withholding and the tax credit before submitting a revised W-4 form to their employer. In particular, buyers should consult IRS Publication 919, or check with a tax practitioner, to determine how much to adjust their withholding.
The 2008 version of the IRS publication allows taxpayers to enter the anticipated credit amount on line 9 of worksheet 8, with “other credits.” Buyers must be careful not to reduce their withholding by more than the amount of their expected tax credit, or tax penalties may apply when they file their income tax return. This helpful information was provided courtesy of the NAHB in an effort to assist first-time homebuyers with their purchase.
Thank you,
Jeff Sargent
Jeff Sargent
Residential Mortgage Division-President
ONB Bank & Trust Co
8908 S Yale Ave, Suite 250
Tulsa, OK 74137
Office: 918.392.6572
Cell: 918.636.0630
Fax: 918.392.6550
jeff_sargent@onbbank.com
Member FDIC
First-time home buyers can accelerate the receipt of the $7,500 from their tax credit and even apply it toward a down-payment.
National Association of Homebuilder's (NAHB’s) Web site explaining the tax credit — www.federalhousingtaxcredit.com — has been inundated by home builders and prospective buyers seeking information on the new benefit.
One of the most commonly asked questions since the credit was enacted concerns how it can be used for a down-payment, and new questions and answers related to this issue recently have been added to the Web site. (See questions 19 to 21.)
First-time home buyers (defined as those who have not owned a principal residence for three years) should be aware of several mechanisms that can narrow or close the gap between the time they purchase their home and the time they take the deduction on their income tax return.
NAHB successfully pushed for a rule that allows qualified home buyers making a home purchase in 2009 before the July 1 cut-off date to claim the $7,500 credit on their 2008 tax return — in effect, one year early. Also, home buyers who purchase a home after filing their 2008 tax return with the IRS in 2009, may file an amended tax return that includes the credit.
As a result, the qualifying home buyer can significantly reduce the time it takes to receive the cash benefit of the tax credit.
More fundamentally, strategic home buyers have a more effective option in their hands. Prospective home buyers, who are certain they qualify for the credit based on the income limits and the first-time buyer test, can adjust their income tax withholding today through their employer.
IRS Form W-4, which is typically submitted by most workers when beginning a new job, allows taxpayers to adjust the amount of automatic income tax withholding in anticipation of certain tax credits. The form states, “You can take projected tax credits into account in figuring your allowable number of withholding allowances.”
Home buyers who expect to claim the tax credit can reduce their withholding, thereby increasing their take-home pay (net of income tax) and allowing them to begin to claim the expected tax credit for use as a down-payment.
This is done by adding the expected credit amount to line 5 or reducing line 6 (additional withholding) of the Deductions and Adjustments Worksheet on the W-4 and recalculating their income tax withholding. Similar adjustments can be done by home buyers making quarterly estimated tax payments.
Home buyers must be careful to understand the rules for both withholding and the tax credit before submitting a revised W-4 form to their employer. In particular, buyers should consult IRS Publication 919, or check with a tax practitioner, to determine how much to adjust their withholding.
The 2008 version of the IRS publication allows taxpayers to enter the anticipated credit amount on line 9 of worksheet 8, with “other credits.” Buyers must be careful not to reduce their withholding by more than the amount of their expected tax credit, or tax penalties may apply when they file their income tax return. This helpful information was provided courtesy of the NAHB in an effort to assist first-time homebuyers with their purchase.
Thank you,
Jeff Sargent
Jeff Sargent
Residential Mortgage Division-President
ONB Bank & Trust Co
8908 S Yale Ave, Suite 250
Tulsa, OK 74137
Office: 918.392.6572
Cell: 918.636.0630
Fax: 918.392.6550
jeff_sargent@onbbank.com
Member FDIC
Tuesday, August 5, 2008
Freddie Mac Announces Workout Incentives
Freddie Mac Announces Workout Incentives
Last week, the Federal Home Loan Mortgage Corporation, known more commonly as Freddie Mac, announced that it would double the amount of money it pays for each workout that keeps a delinquent borrower with a Freddie Mac-owned mortgage out of foreclosure. Freddie also announced it will start reimbursing servicers for the cost of door-to-door outreach programs, give servicers more time to negotiate workouts in states with fast foreclosure processes and make administrative changes intended to streamline the workout process.
"We are taking these steps because we want to reinforce the tremendous importance of workouts and reward their use," said Freddie Mac Vice President of Servicing and Asset Management Ingrid Beckles. "Giving our servicers more time and greater compensation to help troubled borrowers is fundamental to preserving homeownership and maximizing our efforts to minimize foreclosures."
According to Beckles, starting Aug. 1, 2008, compensation for repayment plans will rise from $250 to $500 while loan modification compensation will increase from $400 to $800. These changes took effect Aug. 1.
For short sales or pre-foreclosure sales, where Freddie Mac agrees to accept less than the full amount owed on a borrower's loan, compensation will go from $1,100 to $2,200 (also effective August 1. The higher amount recognizes the greater servicer staff time involved when negotiating property sales.)
Freddie Mac also said it will now reimburse the cost of leaving a door hanger up to $15 per mortgage and up to $50 per mortgage for a door knocking that results in the borrower contacting their servicer. Freddie Mac will also reimburse servicers up to $200 for additional fees paid to vendors for door knocking that results in successful alternatives to foreclosure. This policy is effective from Aug. 1, 2008, through March 31, 2009.
Freddie Mac also announced it is extending the time for foreclosures so servicers will have more time, if needed, to negotiate workouts with delinquent borrowers in Washington, DC, and 20 states with relatively fast foreclosure processes. Oklahoma is not among those states.
Freddie Mac's 0.86 percent single-family delinquency rate is a fraction of the most recent national single-family delinquency rate (6.35 percent) calculated by the Mortgage Bankers Association of America.
Thank you,
Jeff Sargent
Jeff Sargent
Residential Mortgage Division-President
ONB Bank & Trust Co
8908 S Yale Ave, Suite 250
Tulsa, OK 74137
Office: 918.392.6572
Cell: 918.636.0630
Fax: 918.392.6550
jeff_sargent@onbbank.com
Last week, the Federal Home Loan Mortgage Corporation, known more commonly as Freddie Mac, announced that it would double the amount of money it pays for each workout that keeps a delinquent borrower with a Freddie Mac-owned mortgage out of foreclosure. Freddie also announced it will start reimbursing servicers for the cost of door-to-door outreach programs, give servicers more time to negotiate workouts in states with fast foreclosure processes and make administrative changes intended to streamline the workout process.
"We are taking these steps because we want to reinforce the tremendous importance of workouts and reward their use," said Freddie Mac Vice President of Servicing and Asset Management Ingrid Beckles. "Giving our servicers more time and greater compensation to help troubled borrowers is fundamental to preserving homeownership and maximizing our efforts to minimize foreclosures."
According to Beckles, starting Aug. 1, 2008, compensation for repayment plans will rise from $250 to $500 while loan modification compensation will increase from $400 to $800. These changes took effect Aug. 1.
For short sales or pre-foreclosure sales, where Freddie Mac agrees to accept less than the full amount owed on a borrower's loan, compensation will go from $1,100 to $2,200 (also effective August 1. The higher amount recognizes the greater servicer staff time involved when negotiating property sales.)
Freddie Mac also said it will now reimburse the cost of leaving a door hanger up to $15 per mortgage and up to $50 per mortgage for a door knocking that results in the borrower contacting their servicer. Freddie Mac will also reimburse servicers up to $200 for additional fees paid to vendors for door knocking that results in successful alternatives to foreclosure. This policy is effective from Aug. 1, 2008, through March 31, 2009.
Freddie Mac also announced it is extending the time for foreclosures so servicers will have more time, if needed, to negotiate workouts with delinquent borrowers in Washington, DC, and 20 states with relatively fast foreclosure processes. Oklahoma is not among those states.
Freddie Mac's 0.86 percent single-family delinquency rate is a fraction of the most recent national single-family delinquency rate (6.35 percent) calculated by the Mortgage Bankers Association of America.
Thank you,
Jeff Sargent
Jeff Sargent
Residential Mortgage Division-President
ONB Bank & Trust Co
8908 S Yale Ave, Suite 250
Tulsa, OK 74137
Office: 918.392.6572
Cell: 918.636.0630
Fax: 918.392.6550
jeff_sargent@onbbank.com
Subscribe to:
Posts (Atom)