Mike’s Real Estate Show

Prospect Mortgage to Acquire IndyMac Bankcorp Mortgage
Retail Branches

(Northbrook, IL, July 8, 2008) – Prospect Mortgage has signed an agreement to acquire the majority of IndyMac Bankcorp’s retail mortgage branches. Terms of the transaction were not disclosed.

The transaction encompasses approximately 750 employees along with more than 60 branch offices which will rebrand as Prospect Mortgage. John Johnston and Ron Bergum will remain in leadership roles with the retail branch group and report to Mark Filler, CEO of Prospect Mortgage.

“The IndyMac transaction benefits our loan officers, customers, sales managers and referral sources. This is growth for the right reasons, not just for the sake of growth,” said Mr. Filler. “The IndyMac transaction will enable us to increase our investment and success in marketing, technology, and customer service levels.”
With completion of the IndyMac transaction, Prospect Mortgage projects that it will become one of the largest independent retail mortgage company in the country.

Last Week in the News –Mortgage applications for the week ending June 27, 2008 increased 3.6% from the previous week, the Mortgage Bankers Association reported July 2. Refis were up 4.7%, while purchase volume increased 2.8%.

The upward trend in mortgage application volume could continue if mortgage rates fall as they did last week (ending July 3), reversing a three-week rise, according to Freddie Mac’s weekly mortgage rate survey. The easing was due in part to economists’ expectations that inflation will moderate later this year. Read the rest of this entry »

I’m delighted once again to have Attorney at law, Janne O’Neil on the show today. Janne specializes in trusts and wills and can advise you on the complications therein! Janne and I will be talking about the six ways assets are transferred:

• By doing Nothing–not a good idea!
• By a Will
• By a Trust
• by Designated Beneficiaries
• By Operation of Law: Joint Tenancy with Rights of Survivorship,community property, Community Property with Right of Survivorship.
• Gifts

This and more as we speak with Janne this morning. As the headline states, we are video-taping this hour and will be posting it onto the blog for your listening and VIEWING pleasure around Wednesday!! Janne falls into the category of guest who’s information is so valueable I want it to be a resource for YOU the listener. That’s Janne and I on the Blog’s cover page! Janne can be reached at 707-577-8805. Her office is here in Santa Rosa at: 2300 Bethards Drive, Suite F, Santa Rosa, Ca 95405

  I was alerted to the following web site from a listener to the show, Michael Houlihan, Managing Member for Foss Creek Villas, LLC. Mike, who will be on the show later in July, was boasting of the “walkability” of the Foss Creek Villas in Healdsburg (www.fosscreekvillas.com). His community was in the “90’s” for “walkability” which means one living in Foss Creek Villas could get by WITHOUT A CAR!! Here is an explanation of the “walkscore” system and the web site. http://www.walkscore.com Read the rest of this entry »