Experience EASY

Oct 04 2016

TMS_Experience_EASY.jpg

At The Money Source, we like to make things easy for our clients, which includes our state-of-the-art mortgage platform called EASY. 

Our innovative, web-based EASY loan portal is user-friendly and designed for YOUR work flow. 

EASY delivers the features you need with the simplicity you want including:

  • Price, lock and deliver your loan in one system
  • Real-time status and conditions
  • Customized notifications based your needs
  • Easily create and manage users
  • Peer comparison

By partnering with The Money Source, you'll also benefit from a dedicated and experienced team, a large offering of products and the tools you need to grow your business. Click here to Become a Partner today!

Topics: Correspondent partner, The Money Source, Correspondent Mortgage, Pink Unicorn, correspondent loan team, mortgage platform, EASY, loan portal

Europe and China Worry Investors

May 09 2016

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Concerns about the pace of global economic growth were positive for mortgage rates over the past week. Friday's key employment data caused some volatility, but had little net effect. Mortgage rates ended the week lower. 

The news released over the past week caused investors to reduce their outlook for economic growth in Europe and China. On Tuesday, the European Commission, the executive body of the European Union, cut its growth forecast for the eurozone for 2016 and 2017. The data from China released on Tuesday also was disappointing. China's PMI manufacturing index fell more than expected to a level which suggests that the sector is contracting. When global economic growth slows, it reduces the outlook for future inflation, which is positive for mortgage rates.

The most highly anticipated economic report of the month contained just minor surprises. Against a consensus forecast of 200K, the economy added 160K jobs in April, which was the lowest level since September 2015. Downward revisions to prior months subtracted 19K. Strength was seen in health care, while the retail sector was weak. 

The unemployment rate remained at 5.0%. Average hourly earnings, an indicator of wage growth, were 2.5% higher than a year ago. The weakness in job gains was offset by the strength in the wage data, and the report caused little change in mortgage rates.

Looking ahead, additional labor market data in the JOLTS report will be released on Tuesday. JOLTS measures job openings and labor turnover rates. The report on retail sales will be released on Friday. Consumer spending accounts for about 70% of economic output in the U.S., and the retail sales data is a key indicator. The producer price index (PPI) inflation data also will come out on Friday. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday. 

Topics: Ali Vafai, The Money Source, mortgage news, Pink Unicorn, economic data, mortgage rates, wage growth, unemployement rates

The Money Source Awarded Top Honors in ‘Best Places to Work’ Awards

May 04 2016

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For the second year in a row, we are pleased to share that The Money Source has taken top honors at the San Francisco Business Times’ and Silicon Valley Business Journal’s “Best Places to Work” awards.

We were named as the third best place to work in the Bay Area in an awards ceremony at the Hilton Union Square in San Francisco on April 19. Our Bay Area mortgage division, Endeavor America Loan Services, was ranked number 15 in the same awards last year.

The award comes on the heels of our CEO Darius Mirshahzadeh being named one of Glassdoor’s top-rated CEOs in the nation.

Our TMS workplace is defined by our “Growing Happiness” mission, and every aspect of the business is built around the our four core values — People Matter, Inspiring Leadership, Strength of Character, and Rock Solid Service.

We use peer-to-peer employee recognition tool YouEarnedIt to encourage employees to reward each other, and our executives receive company-wide employee feedback through the online platform 15Five.

“The Money Source’s core values-driven approach unifies the entire team around our mission and has created a company culture that is oftentimes lost when a small company experiences rapid growth,” said Darius Mirshahzadeh, CEO of The Money Source. “The Money Source is proud to be recognized as one of the best places to work in the Bay Area. It is a recognition we owe to our incredible team members who come to work every day and make The Money Source a model of company culture within the mortgage industry.”

Topics: The Money Source, Core Values, Darius Mirshahzadeh, Glassdoor, Growing Happiness, Pink Unicorn, best places to work, San Francisco, Bay Area company, California, top-rated CEO

Dovish Speech from Yellen

Apr 04 2016

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Despite the release of a wide range of major economic data, a speech from Fed Chair Yellen had the biggest influence on mortgage rates over the past week. Her comments were favorable for both stocks and bonds, and mortgage rates ended the week lower. 

Since the March 16 Fed meeting, several Fed officials have expressed support for tightening monetary policy at a more rapid pace. In Tuesday's speech, Yellen laid out reasons that the Fed should take a very gradual approach to tightening monetary policy. According to Yellen, economic troubles in other countries pose downside risks to the U.S. economy. She also said that it is unclear if the recent pickup in core inflation will be sustained or whether it was due to temporary factors. Yellen's message about an outlook for low inflation and a longer expected timeline for tightening by the Fed was good news for mortgage rates.

There were few surprises in the important monthly employment report released on Friday, and it caused little reaction. Against a consensus forecast of 210K, the economy added 215K jobs in March. This is close to the average monthly pace seen over the past year. 

The unemployment rate edged up from 4.9% to 5.0%. The higher rate was mostly due to people entering the workforce, which is a sign of strength. Average hourly earnings, an indicator of wage growth, rose 0.3% from February, matching expectations. The vast majority of the job gains came in the service sector, while manufacturing continued to shed jobs.

Looking ahead, Factory Orders will be released on Monday. The ISM national services index and the JOLTS report will come out on Tuesday. JOLTS measures job openings and labor turnover rates. The Fed minutes from the March 16 meeting will be released on Wednesday. These detailed minutes provide additional insight into the debate between Fed officials and have the potential to significantly move markets.

Topics: employment report, Pink Unicorn, economic data, monetary policy, mortgage rates, stocks and bond

Fed Officials Split

Mar 28 2016

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This week's economic data contained few surprises, and the attacks in Brussels had little impact on U.S. financial markets. As a result, mortgage rates ended the week with little change. 

At the Fed meeting on March 16, nine Fed officials voted in favor of holding the federal funds rate steady and just one supported a rate hike. Fed Chair Yellen suggested that the Fed should proceed cautiously in tightening monetary policy to see the effect of overseas weakness on the U.S. economy.  

Since the meeting, however, several Fed officials have supported tighter monetary policy, sending a mixed message to investors. These officials feel that the performance of the U.S. economy may justify a rate hike as soon as the next Fed meeting on April 27. Investors will be closely monitoring comments from other Fed officials to determine how much support there is for these more hawkish views.

The headline numbers for February home sales released this week were mixed. Sales of existing homes fell 7% from January, while sales of newly built homes showed an increase of 2%. The details show that the fall in existing home sales was from an elevated January level, and the rise of new home sales was from an unusually low level in January. 

Both measures have been volatile lately. An average of home sales over a multiple month period provides a clearer picture of the underlying trend, and the three-month average has shown steady improvement over the last few months. 

Looking ahead, mortgage-backed securities (MBS) markets will be closed tomorrow for Good Friday. Next week, the important monthly Employment report will be released on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Before that, Pending Home Sales and Core PCE inflation will be released on Monday. The ISM national manufacturing index will come out on Friday.

Topics: Ali Vafai, The Money Source, The Money Source Inc., mortgage news, employment report, Pink Unicorn, employment rate, home sales, monetary policy, mortgage rates

Meet the TMS Team - Peter Rader

Mar 11 2016

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At The Money Source, our Team strives to provide Rock Solid Service every day. The people who make up our team are the key to our success. Meet one of the members who makes up our Portfolio team, Peter Rader.

Peter works in our Servicing office in Meriden, CT and has been a part of the team since June 2015. He broke into the mortgage industry in July 2003 as an Underwriter and held several positions throughout his career. 

Working at The Money Source is great for Peter because he likes providing solutions to those in need and being a part of a learning/teaching environment. 

His hobbies include golf, running, and basketball. During his free time, he also a youth athletic coach for baseball, basketball and soccer. 

More fun facts about Peter:

  • Favorite TV Show: Scandal
  • Favorite Food: Fresh Italian Antipasto
  • Dream of his: Attend the Masters at Augusta National

Thanks to Peter for sharing a little about himself. 

Topics: People Matter, Meet the Team, TMS Servicing, Loan Servicing, The Money Source, Meriden, Meet the TMS Team, Pink Unicorn, Peter Rader, Portfolio

Meet the TMS Team - Mariana Lima

Mar 04 2016

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At The Money Source, our Team strives to provide Rock Solid Service every day. The people who make up our team are the key to our success. Meet one of the members who makes up our Portfolio team, Mariana Lima.

Mariana is a Portfolio Analyst at TMS and works in our Meriden, CT office. She has been with the Team since June 2015. Before joining TMS, she worked at a bank and held many positions, including Call Center Agent, QA Specialist/Trainer, Collector, and IT Systems Analyst. Her favorite part about working at TMS is that it allows her to work with some great people. 

Mariana plays in a womens' flag football league and she likes to play soccer and basketball. She currently lives in Bristol, CT with her girlfriend and their two dogs.

More fun facts about Mariana:

  • Dream: Backpack through Europe, visit Egypt, spend a year or more driving cross country
  • Favorite Food: Pizza
  • Fun Fact: She was a full scholarship D1 Student Athlete

Thanks to Mariana for sharing a little about herself!

Topics: CT, Servicing, The Money Source, Rock Solid Service, Pink Unicorn, Mariana Lima, Merident, Portfolio Analyst

Data Exceeds Expectations

Mar 01 2016

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The major U.S. economic data released over the past week was stronger than expected. Upside surprises were seen in GDP, durable orders, housing, and inflation. The impact on mortgage rates was small, however, and rates ended the week just a little higher. 

The Core PCE price index is the monthly inflation indicator preferred by the Fed, and the readings for January showed that inflation is rising more quickly than expected. Last week's CPI inflation report contained a similar message. 

Core PCE, which excludes the volatile food and energy components, was 1.7% higher than a year ago, up from 1.3% just two months ago, and the highest level since February 2013. Low levels of inflation have helped keep mortgage rates low. If the trend toward higher inflation continues, it would be negative for mortgage rates. 

The housing data released over the past week was mixed, but the much more significant report was encouraging. January existing home sales, which make up about 90% of all home sales, increased to near the best level in seven years. They were 11% higher than a year ago. New home sales, which make up the rest of the market, declined in January. Low mortgage rates and solid job gains are having a nice effect on home sales. 

Fourth quarter GDP was revised higher from 0.7% to 1.0%, above the consensus for a decline to 0.4%. GDP, the broadest measure of economic activity, recently has been volatile from quarter to quarter. The consensus is that 2016 will start on a better note. First quarter GDP growth is expected to rise to 2.0%, well above the levels seen during the first quarters of 2014 and 2015. 

Looking ahead, the important monthly Employment report will be released on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Before that, Pending Home Sales will be released on Monday. The ISM national manufacturing index will come out on Tuesday, and the ISM national services index will come out on Thursday.

Topics: The Money Source, Pink Unicorn, Core PCE, employment rate, housing market, housing data, mortgage rates, US economic data

Meet the TMS Team - Annie Sun

Feb 25 2016

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At The Money Source, our Team strives to provide Rock Solid Service every day. The people who make up our team are the key to our success. Meet one of the members who makes up our Secondary Marketing Team - Annie Sun. Annie works in Melville, NY office and has been a part of the Team since August 2015. She's also been in the mortgage industry since 2003. Annie really enjoys working with the people on her team and the rest of the company. 

Annie was actually born in Shanghai, China and moved to New York when she was three-years-old. Annie, her husband, and their one-year-old daughter now live in Queens, NY. During her free time, she loves to play with her daughter, cook new dishes, watch TV and declutter. She also loves to travel and hopes to fly in a fighter jet one day! 

More fun facts about Annie:

  • Favorite Food: Anything and everything - especially spicy cuisines
  • Fun fact: She has a fraternal twin that looks nothing like her!
  • Favorite TV show: She’s currently watching Making a Murderer

Thanks to Annie for sharing a little about herself!

Topics: The Money Source, Correspondent Loan, Grow Happiness, Correspondent Servicer, Melville NY, Pink Unicorn, Annie Sun, Secondary Marketing

Experience EASY

Feb 22 2016

TMS_Experience_EASY.jpg

At The Money Source, we like to make things easy for our clients, which includes our state-of-the-art mortgage platform called EASY. 

Our innovative, web-based EASY loan portal is user-friendly and designed for YOUR work flow. 

EASY delivers the features you need with the simplicity you want including:

  • Price, lock and deliver your loan in one system
  • Real-time status and conditions
  • Customized notifications based your needs
  • Easily create and manage users
  • Peer comparison

By partnering with The Money Source, you'll also benefit from a dedicated and experienced team, a large offering of products and the tools you need to grow your business. Click here to Become a Partner today!

Topics: Correspondent partner, The Money Source, Correspondent Mortgage, Pink Unicorn, correspondent loan team, mortgage platform, EASY, loan portal

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