Good morning everyone. I will be in the office today. Let me know how we can help. We are having great success with the new appraisal system in comparison the major banks and brokers out there. I would be happy to discuss why Zack Cooper and RPM are your best opportunity to get a fair appraisal and save your buyers money in the long run. We are still closing FHA loans in less than 25 days and getting contingencies removed in 10-12 days. In a market where we hear so much negativity our referral partners are thriving! Let us know how we can help you with your business, if you have any FHA questions, your buyers, etc. We have also figured out a way to get your borrowers streamlined approvals with the various banks that require approval with the selling bank. Last week we turned around a Wells Fargo required approval in 2 hours and got the offer accepted while others took 3-4 days to complete the approval. We are your purchase lender. Make it a great day.

To your success!

Sincerely,

Zack Cooper

TEAM EMPOWERMENT

925-295-9360 DIRECT

“The best way to get people to think out of the box is not to create the box in the first place.”

-Martin Cooper

Market Commentary – Wed, Jul 15 – 10:20 AM ET

Stock markets are rising for the 3rd straight session led by a positive earnings report by Intel, the world’s largest semiconductor, reporting that earnings per share came in at 18 cents versus the 8 cents that was expected. Intel also said that Q3 revenue will be better than forecasts. Intel (INTC) is part of the Dow 30 and a component of the S&P 500 Index.

Mortgage applications in the latest week rose said the Mortgage Bankers Association today. The MBA’s Index of Applications rose 4.3% in the week ended July 10 to 514.4 up from 493.1 the previous week. The group?s refinancing index increased 17.7%, while the gauge of purchases fell 9.4%. The rise was due to lower home loan rates last week.

A surprise reading from the New York Fed showed that manufacturing in that region shrank at the slowest pace in a year led by the biggest increase in orders since the recession began. The New York State Manufacturing Index rose to -0.55 in July from June’s -9.41 reading and was the best level since April of 2008. The report has also boosted Stock prices in the early going.

Inflation at the consumer level increased slightly in June from May pushed higher by rising gasoline prices. The Consumer Price Index (CPI) rose 0.7% in June from the 0.1% reading in May – estimates were calling for a reading of 0.6%. The so-called Core CPI, which strips out volatile food and energy, rose to 0.2% from 0.1% in May.

The CPI year-over-year fell 1.4%, the biggest decrease since January of 1950, while the Core CPI for the last year ended in June was 1.7% down from May’s reading of 1.8% for the past 12 months.