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See what Essex has been up to this month! December is here and that means Christmas is almost here!
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:
Fred Itzkovics, Christian Clements, and Christopher Collins
"Fred assisted me all the way through the process, great support and outstanding efforts."
- Habib S., CA
"Chris Clements is the very best in the business! Extremely knowledgeable and very quick. An excellent communicator."
- Brent D., NV
"Chris and Alex were great and were able to help us out and get our property when others cannot. Super helpful. Would recommend :)"
- Guthrine L., CA
Employee Spotlight:
Bradyn Wolkoys | Marketing Assistant
Question: How long have you worked at Essex?
Answer: A little over a year now (1 year and 2 months to be exact).
Question: Why do you like working at Essex?
Answer: The Marketing team because it feels like being part of a tight-knit family. We're all rooting for each other's success and are always ready to help each other out when needed. This team is unlike any other I've been a part of, and I’m so fortunate to work alongside them. Plus, they're a blast to work with!
Question: What's a fun fact of yours?
Answer: I recently became a certified Integrative Nutrition Health Coach for the fun of learning more about health and wellness.
Question: Do you have any Black Friday traditions?
Answer: Great question! Black Friday is one of my favorite days of the year. It's a tradition in my family to meet up at a coffee shop at 6am with my mom, grandma, and aunt (and now my younger cousin too, woohoo!) to shop for everyone's Christmas presents. We’ve been doing this for over 10 years now, and it’s a fantastic way to bond and spend quality time with my family.
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About Essex Mortgage
Community Spotlight: Autism Speaks
Autism Speaks is a prominent advocacy organization dedicated to raising awareness and providing support for individuals on the autism spectrum and their families. Founded in 2005, the organization aims to advance research into autism spectrum disorder (ASD), promote early intervention, and enhance the quality of life for those with ASD. Autism Speaks engages in fundraising initiatives, public outreach campaigns, and policy advocacy to address the diverse needs of the autism community.
If you would like to learn more or donate, click the link: https://autismspeaks.org
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 equipped to make decisions that are not only in their best interest, but also help in achieving both short and Iong-term goals.
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Mortgage Education
Real Estate Professional
Real estate professionals are there to help prospective buyers find the right home for them that meets their needs and financial circumstances. In addition, they will negotiate with the seller to get the best deal possible when the buyer is ready to make an offer. With real estate professionals, the buyer's best interests are always a priority and finding their dream home is always the goal.
Collateral
Collateral is a property or any other asset that the borrower offers that can be used as a security for a debt. In the case of a mortgage, the collateral is the house and the land. If the borrower stops making payments, the lender can take hold of the house and land to recover losses on the loan.
Homeowners Insurance
Homeowners insurance is a policy that protects the homeowner and lender against losses and damages to an individuals house and assets on the property. Not only does this cover possessions and the home itself, but also protects against liability in case a visitor gets injured on the property. All of these policies have a liability limit that determines how much coverage you have in the event that an accident occurs.
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Essex Mortgage News
All Company Updates
NOVEMBER ESSEX TOTALS
ESSEX TOTAL: $129,247,082/ 731 units
Retail Fundings: $4,721,958/ 16 units
Correspondent Purchases: $124,525,124/ 715 units
HR UPDATES:
Paycom reminder: login and verify personal information and address are correct in the system prior to year-end.
OPERATIONS UPDATES:
Operations closed our first assumption mortgage this month.
COMPANY UPDATES:
New corporate office visit!
Industry News
30-Year Fixed Mortgage Interest Rates
"Today’s average rate on a 30-year, fixed-rate mortgage is 7.55%, which is 0.26 percentage point lower than last week.
To get an idea about how much you might pay in interest, consider that the current 30-year, fixed-rate mortgage of 7.55% on a $100,000 loan will cost $703 per month in principal and interest (taxes and fees not included). The total amount you’ll pay in interest during the loan’s lifespan is $152,926." (source: forbes.com)
The rates found above are from December 6th and are subject to change. Use our loan calculator tool to determine your estimated monthly payments for different loan amounts, interest rates, and term lengths.
15-Year Fixed Mortgage Interest Rates
"Today, the 15-year mortgage rate sits at 6.73%, lower than it was at this time yesterday. Last week, it was 7.00%.
At today’s interest rate of 6.73%, a 15-year fixed-rate mortgage would cost approximately $884 per month in principal and interest per $100,000. You would pay around $59,114 in total interest over the life of the loan." (source: forbes.com)
The rates found above are from December 6th and are subject to change. Use our loan calculator tool to determine your estimated monthly payments for different loan amounts, interest rates, and term lengths.
Realtor.com Freddie Mac Updates
"The Freddie Mac fixed rate for a 30-year mortgage dropped 0.07 percentage points to 7.22 percent this week. While some Federal Reserve policymakers expressed growing confidence that the existing monetary policy is sufficiently restrictive to reduce inflation to the 2% target, others emphasized the potential necessity for additional rate hikes to achieve the target over a reasonable timeframe. Despite the mixed messages from the Fed, many investors are inclined to believe that the Federal Reserve has concluded its interest rate hike cycle, especially considering the 10-year yield dropped below 4.3% for the first time since September." (source: realtor.com)
At today's interest rate of 7.22%, a 30-year fixed-rate mortgage is estimated to cost $1,155 per month in principal and interest, private mortgage insurance, and property taxes and insurance for a loan of $100,000. (source: My Home by Freddie Mac)
The rates found above are from November 30th and are subject to change. Use our loan calculator tool to determine your estimated monthly payments for different loan amounts, interest rates, and term lengths.
Need a loan officer?
Visit our Find a Loan Officer page to find a loan officer near you!