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See what Essex has been up to this month!
Every month we post to our social accounts but sometimes, that gets lost in the massive amounts of content found online at any given moment. Keep up to date with us in our blogs and monthly newsletters.
Here's what you'll find in this newsletter:
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Top Loan Officers & Employee Spotlight
Top Loan Officers from last month:
Belinda Price, Jake McDonald, and Steven Soriano
BELINDA PRICE
"The communication is what I was looking for as a first time homebuyer and Belinda definitely delivered."
-Joe D., VA
JAKE MCDONALD
"Jake was an absolute pleasure to work with. He was honest and upfront about everything which was exactly what I asked for. I couldn't have been more satisfied with my experience with Jake and Essex as a first time home buyer."
-Felicia W., AZ
STEVEN SORIANO
"Excellent communication! Process moved very smoothly and quickly. Would highly recommend Steven! Thank you."
-Peggy C., CA
Employee Spotlight:
Arlene | Quality Control & Insuring Specialist
Question: How long have you worked at Essex?
Answer: I’ve been with Essex full-time since March of 2009. Prior to that, I was with Essex as an independent contractor from 2001-2004.
Question: Why do you like working at Essex?
Answer: The atmosphere has always been friendly and warm. Everyone is willing to help each other out to get the job done.
Question: What's a fun fact of yours?
Answer: I’m a big fan of “hospital shows”. I watch them all!
Question: Are you an "Early Bird" or a "Night Owl"?
Answer: Definitely an “Early Bird”
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About Essex Mortgage
community spotlight: Coffeehouse Five
Coffeehouse Five is a not-for-profit company that takes all of their net revenue from selling coffee and pastries and uses it to fund their initiatives to build a stronger community. They opened their first shop in 2011 and ever since then have been providing free marriage and addiction counseling to those in the greater Indianapolis area. To this day, they have raised over $250,000 for their cause.
If you would like to learn more or donate to Coffeehouse Five, click the link to learn more: https://www.coffeehousefive.com/
(Photo from facebook.com/coffeehousefive)
our story
Hailing from Essex, England, Roland Weedon founded Essex Mortgage in 1986. With a background in education, Roland remained adamant that educating the client wouId be the company's #1 priority. Today, Roland still holds to the fact that an educated client is best quipped to make decisions that are not only in their best interest, but also help in achieving both short and Iong-term goaIs.
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Mortgage Education
purchase vs refinance
purchase
Finances the purchase of a new home
Several options to fit your needs
Comes with different fees associated with the purchase of a home (loan origination fees, title insurance, etc.)
You have the option to refinance your mortgage down the road
refinance
Process of replacing your old mortgage with a new one
Can get you a lower interest rate, lower monthly payments, or more favorable terms
Can also be used to access the equity in your home, for different purposes such as home improvement or debt consolidation
lock-in agreement
A lock-in agreement is a written agreement from the mortgage lender guaranteeing a specific mortgage interest rate. This lock-in or rate lock is usually guaranteed from the initial offer until the closing of the loan as long as there are no changes to the loan application and it closes within a specific time frame.
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Essex Mortgage News
Announcements From HR
Cutest Animal Winners Announced!
Cutest Dog Winner: Klaus with the cutest costume!
Cutest Cat Winner: Guinevere looking all relaxed and a whole VIBE!
Cutest "Other" Winner: Rocco riding a skateboard never looked so cool!
Essex Production
ESSEX TOTAL NUMBERS FOR MARCH: $200,340,423 / 822 units
In March, servicing had 1,313 borrower completed surveys with an average score of 4.89 Stars. This equated to 97.9% Customer Satisfaction.
Last month, servicing took 6,478 inbound calls from borrowers and placed 4,850 outbound calls to borrowers.
Industry News
30-Year Fixed Mortgage Interest Rates
Currently, the average annual percentage rate (APR) on a 30-year fixed-rate mortgage is 6.97%. This is higher than last week when the APR was 6.89%. The APR contains both mortgage interest and the lender fees to help give a more complete picture of loan costs. (source: forbes.com)
15-Year Mortgage Interest Rates
Today’s 15-year, fixed-rate mortgage is 6.13%, down 0.04% from the previous week. The same time last week, the 15-year, fixed-rate mortgage was at 6.17%. Today’s rate is higher than the 52-week low of 4.31%. (source: forbes.com)
Mortgage Rates Fall Again
Mortgage rates fell for a fourth straight week following five consecutive weeks of increases. (source: forbes.com)
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