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August 2007
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October 2007

Ribet Academy Football: meet the fighting frogs!

Ribet Academy! Over on 2911 San Fernando Road, just before you hit the (2) Ad_nophoto_3 two Freeway. That's where I went to High School. I graduated there in 2002 and it was off to UCLA, my first pick AND my school of choice. That's right baby!

1210477873_lI always loved to play sports...well, basketball mainly. When it was off to UCLA I played basketball at the Wooden Center almost every day. It was my getaway from the hectic schedule of college life and a full time job. And guess who played with me? Adam Sandler! Yes it's true, see for yourself.

Ok, enough about me, let's talk Ribet Academy football!

Ribet, 1-0 in San Joaquin League play, and 1-2 overall, ran into a Linfield offense that was efficient in the run game and used the pass sparingly. We lost this one but Linfield, we'll see you again.

The Ribet highlight of the night was when sophomore Quarterback Sam Sulam connected on a 79 yard touchdown pass to sophomore Wide Receiver Nnamdi Armour in the fourth quarter. Senior Foreign Exchange student Alvaro Catalayud converted on his first ever extra-point attempt to complete the Ribet scoring.

The Fighting Frogs will travel to Banning for a week 4 clash against San Joaquin League opponent Twin Pines. Kick-Off is set for Friday September 28 at 3:00PM at Twin Pines High School.

Check back for more Ribet Academy school and sports news!

Informe De las Tarifas De Hipoteca De Los Ángeles: De el 26 de Septiembre del 2007

¡Las tarifas de hipoteca enormes en Los Ángeles están mejorando!   Pero primero...

Aconsejamos a compradores caseros de Los Ángeles flotas cautelosomente sus prestamos la semana pasada; nada sucedió a las tarifas de hipoteca.  Todavía hay un miedo irracional en los mercados de las tarifas de hipoteca sobre la inflación que está haciendo a prestamistas seguir siendo obstinados sobre la tasación.  Estamos cambiando nuestra postura a un diagonal de fijación. Así pues, si usted no se ha trabado en su préstamo, y usted son menos de 21 días de su cierre del escrow, van a continuación y se traban.

Tarifas que estamos ofreciendo, para los préstamos debajo de $417.000, en fecha de septiembre el 26 de 2007:

Tarifa                    ABRIL                    Del Programa

BRAZO Anual             5.625%               5.693%

3/1 BRAZO                 6.000%              6.070%

5/1 BRAZO                 6.125%              6.217%

30 Años Fijaron         6.125%               6.217%

Tarifas conforme a condiciones de la calificación y de mercado.  Prestamista De la Oportunidad Igual.

Ahora, para un ciertas noticias REALMENTE buenas.  La tasación para las tarifas enormes en Los Ángeles está mejorando.  Las tarifas para los préstamos indicados de la renta en Los Ángeles están consiguiendo más bajo.  Si usted ha solicitado un préstamo que es mayor de $417.000 o no está documentando su renta, pensamos que usted puede flotar con seguridad la tarifa. Los inversionistas de Wall Street están sumergiendo su dedo del pie en el area de las tarifas enormes y los mercados indicados del préstamo de la renta y están comenzando a comprar esos préstamos. 

Los prestamistas de la lista que nos hicieron mal cuando los inversionistas de Wall Street pararon el comprar de préstamos enormes (prestamistas de la lista no venden a Wall Street; llevan a cabo los préstamos) ahora están tasando agresivamente sus préstamos enormes.    Las tarifas de hipoteca enormes todavía no son tan competitivas como eran de julio el 31 de 2007 sino que ESTÁN MEJORANDO.  Este movimiento agresivo de los prestamistas de la lista nos dice que los prestamistas del conducto, préstamos enormes de esa venta a Wall Street, estén consiguiendo buenas noticias.

Llámeme al (323)-810-2175 o mande me un E-mail para la tasación enorme de la tarifa de hipoteca.

En resumen, trabe los préstamos debajo de $417.000 y flote los préstamos sobre $417.000.  La crisis de la liquidez no es excedente pero el desierto que hemos vivido adentro desde de agosto el 2 de 2007 está comenzando a oler como la lluvia.  Ésa es buena noticia!

Los Angeles Mortgage Rates Report: September 26, 2007

Jumbo mortgage rates in Los Angeles are improving...Yeah, Baby !   But first...

We advised Los Angeles home buyers to cautiously float their loans last week; nothing happened to mortgage rates.  There is still an irrational fear in the mortgage rates markets about inflation which is causing the lenders to remain stubborn about pricing.  We are changing our stance to a locking bias.   So, if you haven't locked in your loan, and you're less than 21 days from your close of escrow, go ahead and lock.

Rates we're offering, for loans under $417,000, as of September 26, 2007:

Program                    Rate                    APR

Annual ARM            5.625%                5.693%

3/1 ARM                 6.000%               6.070%

5/1 ARM                 6.125%               6.217%

30 Year Fixed          6.125%               6.217%

Rates subject to qualification and market conditions.  Equal Opportunity Lender.

Now, for some REALLY good news.  Pricing for jumbo rates in Los Angeles is improving.  Rates for stated income loans in Los Angeles are getting lower.  If you have applied for a loan that is greater than $417,000 or are not documenting your income, we think you can safely float the rate.  Wall Street investors are dipping their toe in the jumbo and stated income loan markets and starting to buy those loans. 

The portfolio lenders that scalped us when the Wall Street investors stopped buying jumbo loans (portfolio lenders don't sell to Wall Street; they hold the loans) are now aggressively pricing their jumbo loans.  The  jumbo mortgage rates are still not as competitive as they were on July 31, 2007 but THEY ARE IMPROVING.  This aggressive move by the portfolio lenders tells us that the conduit lenders, that sell jumbo loans to Wall Street, are getting good news.

Call me at (858)-503-2318 for jumbo mortgage rate pricing or e-mail me.

In summary, lock loans under $417,000 and float loans over $417,000. The liquidity crisis ain't over but the desert we've lived in since August 2, 2007 is starting to smell like rain.  That's good news.

Old L.A. (Highland Park) Farmer's Market Report 9/11/07

What a nice surprise to go to the market last week and finally find it in its new location! There are now two spokes emanating from the corner of Marmion Way and Avenue 58. One leg runs along Marmion Way, alongside the Gold Line tracks. This is the “non-certified” section of the market with crafts and goods such as jewelry, clothing, soaps, etc. The other leg runs from Marmion Way to Figueroa, along Avenue 58. This is the “certified” section of the market, with fresh produce, plants available for sale and prepared foods such as tamales and roasted chickens. The market is now nicely visible from both the Gold Line station and from the main drag of Figueroa Blvd. Maybe this will encourage new visitors to check out the market and become regular shoppers!

Now that the weather is getting cooler – finally – I’m ready to turn on my oven again and make some hearty comfort foods. I stocked up on healthy staples such as fresh broccoli, Peruvian purple potatoes, green beans, various onions – all of these are great for roasting with a little olive oil and sea salt. This time of year, I love a nice roasted vegetable warm salad and can make a meal out of that alone, with a nice Asian pear (from the market, of course) for dessert.

The market will now be found every Tuesday from 3- 8 p.m. on Avenue 58 and Marmion Way, between the Gold Line station and Figueroa Blvd. In Seth’s words: “Please stop by the market for fresh, field-ripened, high quality produce from local farmers and spend time with your friends, neighbors and other community members.”

Oh, and let’s see if we can avoid any more accidents involving the Gold Line…. Those lights and guard rails are there for a reason. Please be careful!

See you there. ML

Los Angeles Mortgage Rates Report: September 21, 2007

Los Angeles mortgage applicants and home buyers have had a roller coaster ride these past ten days.  We maintained our advice to lock-in loans at application, prior to and immediately after the Fed decision to cut rates .5%.  We felt there was irrational exuberance among the bond traders which artificially lowered yields. Those lower yields led to lower Los Angeles mortgage rates.

Now, we're reversing course. Irrational fear of inflation exists in the bond markets today.  Bond traders believe that Bernanke's cut may have overreached, paving the way for higher inflation.  We think Bernanke is a whole lot smarter than the bond traders believe him to be; we also think he's judicious in his approach. That irrational fear causes us to advice all Los Angeles mortgage applicants to cautiously float your rate. Cautiously floating means you check in with your mortgage adviser daily.  Markets can reverse quickly and we could reverse our recommendation to our locking stance.

Keep checking this report daily for updates.

Los Angeles Mortgage Rates Report- September 19, 2007

The Federal Reserve cut both the discount rate and federal funds rate a full .5% yesterday.  This surprised us because we thought Ben Bernanke would be more judicious in his approach to easing money.

I guess you can't please everybody.  Pundits pleaded with Gentle Ben to aggressively cut to avoid a recession.  Ben gave them what they wanted and now they think he overreached.  Today, in a 180 degree turn, the markets are concerned about the prospect of inflation.  Treasury yields rose over .5% this morning while mortgage bonds seem to be flat.  It won't be long before the effect of this cut is seen in higher mortgage rates.  This conundrum is what we've been concerned about so we are maintaining our recommendation to lock-in all loans at application.

Are you confused?  How can the Fed cut rates and mortgage rates rise?  Markets are discounting mechanisms, continually taking into account the possibility of future events.  Bond traders have turned into riverboat gamblers, constantly trying to outguess the Fed.  We believe that the risk of higher rates outweighs the reward of waiting to see if you can get JUST A LITTLE lower rate.

In more positive news, the Office of Federal Housing Enterprise Oversight (OFHEO) allowed Fannie Mae and Freddie Mac to buy more loans. This may pave the way for higher lending limits next year.  We think that the conforming loan limits may be increased to a level that is closer to the $500,000 mark for 2008.  This would be a welcome move in states like California and New York where jumbo loans are the rule rather than the exception.

Rates for Wednesday, September 17, 2007:

Program                    Rate                    APR

Annual ARM            5.625%                5.693%

3/1 ARM                 6.000%               6.070%

5/1 ARM                 6.125%               6.217%

30 Year Fixed          6.125%               6.217%

Rates subject to qualification and market conditions.  Equal Opportunity Lender.