Precision Mortgage Group

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Buying a home is one of the biggest purchases most of us make. House hunting can be exciting and disappointing at the same time. Some people find the perfect home in three days, for others, it can take months.
We've seen it all. And we understand how you feel. Once you finally find the perfect home, let us help you quickly find the perfect mortgage.
A review of our Loan Programs appears on this website. Call or e-mail us and we'll develop a personalized quote.
Are you already living in your dream home? Maybe it can be even dreamier with a lower monthly mortgage payment! Refinancing could be the way to go. Check it out with our Refinance Mortgage Calculator.
Or, try out our Debt Consolidation Mortgage Calculator to see if a home equity loan or second mortgage would work for you.
Buying a home is a big investment. We can be there with you every step of the way. Our company has been in this business for a long time, and we invite you to put our experience and expertise to work for you.

MBS Test Outer Limits of Range. Reprices for Worse Possible - 5 hours ago
Posted To: MBS CommentaryNot much green on my trading screens today, unless you look at yields and volatility, those are up! Otherwise the only other thing rallying is a herd of angry fencesitters who've been patiently waiting for QEII to kick in and mortgage rates to rally back down to record lows. Stocks, bonds, and commodities are in the john. In our market, the 10yr note briefly broke long standing 2.75% range support, led by selling in the futures market. This is about the same spot where bargain buying was able to overcome short selling/position squaring on Wednesday. The 10 yr note is currently -24/32 at 99-01 yielding 2.735%. 5s are -19/32 at 99-19 yielding 1.337%. 7s are -29/32 at 99-11 yielding 1.974%. We need 2.75% to hold in 10s. Hang in there.... Rate sheet influential MBS prices are poking and prodding...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Running Your Own Loan Shop: Timely Financial Controls Needed - 5 hours ago
Posted To: The Garrett Watts ReportIn our visits to mortgage shops we always inquire about the company's policies and procedures on financial controls, reporting and accounting. Without accurate and timely financial reports, managing the affairs of the company can be extra challenging. Let’s take a look at a few examples of troubling practices. Delaying the Generation of Financial Statements We often find companies generating financial statements quarterly rather than monthly. In some cases financial statements are even generated 30 days after the close of each quarter. Major delays in generating financial statements can be disastrous. Management is basically running blind when they decide to put off financial position and performance reporting. Operating losses or depletion of cash may result in warehouse lender covenant...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Mortgage Interest Tax Deductibility Back in Debate as Congress Looks to Cut Deficit - 6 hours ago
Posted To: MND NewsWireThe co-chairs of the National Commission of Fiscal Responsibility and Reform issued a draft proposal Wednesday containing....wait for it....a suggestion regarding reform of the mortgage interest tax deduction. Within minutes the Mortgage Bankers Association (MBA) was out with a statement opposing any discussion of the change. The debt reduction draft report , which one television pundit referred to as "a grenade rolled into the center of the room" has ignited a firestorm in Washington, mainly centered on proposed changes to Social Security. The suggested change in the mortgage interest deduction is modest, that it be scales back to eliminate interest on home equity loans, second homes, and first mortgages over $500,000. MBA's statement, issued by Michael D. Perman its chairman, said: "Given...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Consumer Sentiment Improves. Mortgage Rate Tension Remains High - 8 hours ago
Posted To: MBS CommentaryOur tension level remains high this morning as tactical day traders squeeze out every last drop of short seller profit in the belly of the curve all the way through the ultra long end. Spec long bond shorts and bear steepeners vs. 30s aren't expected to be unwound anytime soon but the 2s/10s portion of the curve is about to be injected with a QEII shot in the gut. This steady wave of buying will be difficult to overcome as new issuance will essentially be absorbed by the Fed's balance sheet. The overnight session provided some encouraging price action toward our much needed recovery rally but that originator friendly directionality has since reversed course and we're now retesting the corrective move that took place when the Fed announced QEII details on Wednesday afternoon. I say encouraging...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Loan Buyback Case Against BoA Hits Snag; New GSE Regulator; Chase Stuck with WAMU Lawsuit; Home Prices; Investor Update - 8 hours ago
Posted To: Pipeline PressI should have listened to my Mom and become a lawyer! Back in 2008, as WaMu was collapsing, the FDIC brokered a transaction between the failing S&L and J.P. Morgan Chase. But the question has now arisen: "Who should cover billions of dollars from a legal mess that WaMu left behind?" The FDIC took them over, and then JPMChase bought it for $1.9 billion within 2 days - but the deal left open who exactly should cover WaMu's liabilities. (Isn't that covered somewhere in law school?) Chase's position is that it agreed only to take on bank liabilities that were spelled out on WaMu's books during the handoff - which did not include the cost of the lawsuits. The FDIC, supported by bank contributions or the taxpayer, depending on who you ask, has said J.P. Morgan agreed to buy the bank, both the...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

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