Weekly Financial News – Mar 7, 2014

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Americans filing for first time unemployment benefits fell to their lowest level since the end of November as the labor markets continues to experience some peaks and valleys. The Labor Department reported that Weekly Initial Jobless Claims fell by 26,000 in the latest week to 323,000, below the 338,000 that was expected. The four week moving average of claims, which … Read More

Weekly Financial News – Jan 31, 2014

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Consumers opened their wallets in December and spent on holiday shopping across the nation. Personal Spending rose by 0.4% last month, above the 0.2% expected. However, Personal Incomes were unchanged and below the 0.2% expected. Digging into the report it revealed that consumer inflation pressures were almost non-existent. Manufacturing activity in the Chicago region declined in January from December. The … Read More

Weekly Financial News – Jan 24, 2014

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The National Association of Realtors (NAR) reported today that Existing Home Sales in December rose by 1% to an annual rate of 4.87 million units. That was slightly below the expectation of 4.90 million. In 2013, there were 5.09 million sales, up 9.1% from 2012. Within the report it revealed that the median existing home price was $198,000, up 9.9% … Read More

Weekly Financial News – Jan 17, 2014

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The Commerce Department reported this morning that Housing Starts finished off 2013 to the downside, falling sharply in December by 9.8% from November. Starts came in at an annual rate of 999,000, down from the 1.107 million annual units recorded in November. It was expected that Housing Starts would come in at 986,000. Building Permits, a sign of future construction, … Read More

New rules on Construction Lending

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The Consumer Financial Protection Bureau released new mortgage lending rules that will affect construction lending operations that are associated with some large home builders. Building companies such as DR Horton have been using affiliated title services and construction lending for decades in an effort to create efficiency and convenience for home buyers. Such arrangements haven’t been a large profit center … Read More

New Video Tutorial on the Construction Loan Draw Process

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We have posted a new video in our Learn section of ccsloans.com that shows our clients the step by step of creating a loan draw request for disbursements from a construction loan. The new video covers all the different fields of the draw request form, and explains terminology and expectations. In addition, there are some tips about how to make … Read More

Utah’s Economy continues to gain momentum

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This quarter’s Economic & Housing Indicators report by MGIC’s Credit Policy Department shows some data that corroborates the empiric evidence we have seen at our office that there is a positive momentum to the housing sector in Utah. While the housing sector in the metropolitan greater Salt Lake area is still considered soft, we have seen the supply of high … Read More

New Construction looks good for lending

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Rencent news are showing good news in the construction industry in Utah and Idaho. We have certainly seen a jump in loan applications and we have worked very hard at meeting all the deadlines from the construction loan applications submitted to our office, and we are pleased to be helping many families start construction on homes in Utah and Idaho. … Read More

The Source of Capital for Construction Loans

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The first quarter of 2012 has been great for construction lending in Utah and Idaho. We are seeing increases in residential construction, larger loan amounts and a better outlook about the future than we have for quite some time. One important difference that we noticed is that today’s home owners are more than ever insisting in the best value proposition. … Read More

New Logo, New Look, Same Service

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Our long time friends and clients probably already noticed that we are having major surgery at our website. It was time for a face lift. I hope you like our new logo and our simpler website. Our intent is to make our information as available and easy to find as possible. Please be patient with us as we fine tune … Read More