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Virginia Beach
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Consumer Financial Services
“Your Lead to Financial Freedom”

We offer a wide array of insurance and investment products, and the discipline to see it through.

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The Debt Excelerator: Your lead to Financial Freedom

Consumer Financial Services practices Four (4) simple steps in planning your Financial Freedom:

 

STEP ONE

Create Your Debt Plan

Don't just consolidate your debt: Eliminate your creditors!  The Debt Excelerator team will provide a custom debt plan just for you.

 

STEP TWO

Build Your Emergency Fund

Create a fund of LIQUID CASH that will out-pace inflationand provide three (3) to six (6) months of income.

 

STEP THREE

Protect You And Your Family

We will work with our clients to find the best Life, Health and Disability plans for you and your family from our portfolio of over fifty (50) top-rated insurance companies.

 

STEP FOUR

Plan For Your Retirement

We are dedicated to work with you and your family to achieve your long-term retirement goals - working with the biggest and best names in the industry.

 

 

 

 

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News

Category: General
Posted by: webmaster

 

MBS RECAP: Technically an Early Close, but Buyers Never Showed Up

Posted To: MBS Commentary

MBS Live : MBS Afternoon Market Summary After a morning fraught with volatility, MBS finally bounced just after the noon hour. Even then, such a bounce wasn't really indicative of much more than an automatic buying point being reached when MBS spreads had finally blown out wide enough. In other words, in the midst of planning the day filled with avoiding buying MBS, perhaps some trade desks left notes for whoever was left manning the desk to 'only buy if spreads get this wide.' Everyone else was off for the weekend, especially after 11am. The fact that we only got a moderate handful of negative reprices today helps paint that same picture. Given the volatility, we'd almost always expect more reprices that we got, but when combined with yesterday's rate sheets being weaker than MBS losses suggested...(read more)

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Mortgage Rates Hold Steady Ahead of 3-Day Weekend

Posted To: Mortgage Rate Watch

Mortgage rates finally paused their relentless push higher today, holding at unchanged levels compared to yesterday's latest rate sheets on average. Some lenders were slightly better or worse, but none of them by a wide margin. Data and events were limited and markets were in holiday mode. The most relevant market to mortgage rates, MBS, had a volatile day, but the volatility didn't transfer to rate sheets as much as it normally does, likely due to the shortened trading day and 3-day weekend ahead prompting lenders to price more conservatively yesterday. This would go a long way toward accounting for our observation yesterday that rate sheets were worse in the morning despite trading levels not being appreciably weaker. (If you missed this week's big news for rates, or want a refresher: Why...(read more)

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MBS MID-DAY: Negative Reprices in the AM: Breakfast of Champions

Posted To: MBS Commentary

MBS Live : MBS Morning Market Summary Please not the timestamp on the price table below as Fannie 3.0s are currently down 3 ticks at 101-19, but had been as low as 101-13 earlier this morning. Negative reprice alerts on MBS Live went out at 11:20am, 11:56am, and 12:20pm. Treasuries have had a calm morning while MBS had a mini-meltdown, moving to the lowest prices of the year, resulting in several investor reprices. Durable Goods data had relatively little effect and instead the lack of liquidity in MBS began taking its toll just after 10am. Buying triggers look to have been tripped at the lows (or "wides" in terms of MBS spread vs Treasuries). Volatility was a possibility from the outset given the shortened trading day and the Quadruple Witching options/futures expirations in equities markets...(read more)

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Delinquency Rate Hits Post Housing Crisis Low for Freddie Mac

Posted To: MND NewsWire

Freddie Mac said today that its total mortgage portfolio i ncreased by $951 million in April to $1.949 trillion , an increase of 0.6 percent. This was the second straight month the portfolio has increased. Purchases totaled $47.3 billion compared to $52.0 billion in March, liquidations were ($45.7) compared to ($44.85) billion and sales were ($627) million, up from ($617) million. The year to date growth in that portfolio is (1.1) percent and the annualized liquidation rate is 29.2 percent. The Mortgage-Related Investments Portfolio declined from an unpaid principal balance of $534.2 billion in March to 528.3 billion in April, a change of 13.2 percent . Purchases totaled $15.0 billion compared to $13.57 billion in March. Liquidations increased from ($10.10) billion the month before to ($10...(read more)

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Government Furlough Days; H.R. 1077's Impact on QM And 3% Limit; MBA on GSE risk sharing

Posted To: Pipeline Press

T he IRS, furlough days, and the possible impact on 4506 transcript processing . I first heard about it through a Mountain West Financial e-mail: "The IRS announced the first 5 furlough days for 2013. All services will be shut down as they would be if it were a federal holiday. The furlough days currently scheduled will take place on May 24, June 14, July 5, July 22, and August 30 . All public-facing operations will be closed on these dates, including the toll-free operations and Taxpayer Assistance Centers. The IRS will not accept nor return any orders on those days, however Equifax will continue to receive and prepare request for submission. Transcript receipt and turn time delays normally associated with holiday closures can be expected." No one is arguing that the value of servicing is...(read more)

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The Day Ahead: Do or Die Time for MBS

Posted To: MBS Commentary

Welcome to a crazy day for markets, maybe. It's a quadruple witching session, meaning that futures and options for single stocks and stock indices are all expiring on the same day. It happens 4 times a year and though it's seen more than a few sideways, uneventful turnouts, it's known for inspiring inexplicable volatility. Add to that the fact that it's an early close for bond markets (2pm Eastern) and that it bookends a 3-day holiday weekend, and there are plenty of ingredients to make things quite hectic in the morning hours. The other matter at hand is the "do or die" situation that MBS find themselves in. We can use the following chart to map that out: The grey bars in the background are regular old Fannie 3.0 prices (high/low), and the green line is a 9 day moving average--used as a fairly...(read more)

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MBS RECAP: Attempting To Consolidate After Wednesday's Sell-Off

Posted To: MBS Commentary

MBS Live : MBS Afternoon Market Summary Treasuries had a bit of an easier time today than MBS, the latter feeling the effects of a shift in duration preference that has been historically unkind to Fannie 3.0 30yr Fixed MBS. So far in 2013, when 10yr yields have approached 2.0%, The lower end of the production MBS coupon range feels the biggest pinch. This has to do with the negative convexity inherent to MBS markets. In short, if the broad swath of interest rates in the financial world are at a certain level and moving higher, there is a certain point on the spectrum of liquid MBS coupons where liquidity begins to dry up and prices tend to fall much faster than higher coupons because investors don't want to be stuck earning interest at a lower rate in a rising rate environment. That's a bit...(read more)

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Mortgage Rates Carried Higher Still By Yesterday's Momentum

Posted To: Mortgage Rate Watch

Mortgage rates weren't quite finished with what they began on Wednesday, which was the worst we've seen in a long time . Despite bond markets managing to hold their ground for the most part today, rates were carried higher by yesterday's momentum--that is to say, lenders' rate sheets were worse this morning than yesterday afternoon despite the fact that trading levels in Mortgage-Backed-Securities weren't appreciably worse. (catch up with yesterday's big move: Why Did Mortgage Rates Skyrocket Past 2013 Highs on Wednesday? ) Considering that yesterday's rates were the highest in exactly one year, today's claim the "over a year" title and best-execution is pushing well into 3.75% for most lenders with some closer to 3.875% already. This isn't universally the case and a few lenders were closer...(read more)

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Can't Count on Low Rates Forever, Right? Why QE3 Could be Expensive; HUD disaster relief

Posted To: Pipeline Press

The Fed giveth, and the Fed taketh away. Both stocks and bonds fell on Wednesday after a Q&A session with Ben Bernanke , and minutes from the latest U.S. Federal Reserve meeting, shed some uncertainty on the schedule of QE3. We also had U.S. existing home sales move higher in April, +.6%, and so once again we have numbers showing a continued improvement in the housing market. Even though sales have likely been restrained by limited available inventory in recent months, the pace of sales reported for April was the strongest of the expansion to date (excluding the home buyer tax credit periods). The sales mix has also become healthier lately with distressed sales accounting for only 18% of the market in April, down from an average of 23% in 1Q and 28% in April 2012. The median price of an...(read more)

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New Homes Hit Record Median Price in April, Sales Rise

Posted To: MND NewsWire

New home sales rose 2.3 percent on a seasonally adjusted basis in April to an annual rate of 454,000 units . The Census Bureau and the Department of Housing and Urban Development also revised the March estimate of new home sales dramatically upward from 417,000 units to 444,000. The April rate of sales was 29.0 percent higher than the April 2012 rate of 352,000 units. On a non-seasonally adjusted basis there were 45,000 sales during the month compared to 42,000 in March. This brings the year-to-date total to 153,000 units. Sales fell in April in two of the four regions. In the Northeast the seasonally adjusted annual rate was 30,000 units, down 16.7 percent from March but up 3.4 percent from April 2012. Sales in the Midwest were down 4.8 percent to a rate of 59,000, an annual increase of 18...(read more)

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