Walter GormanSenior Loan Officer NMLS#: 138370
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It wasn’t a sure thing but the Federal Reserve did in fact raise the Federal Funds rate today by 0.25 percent, which will affect interest rates for a variety of credit transactions such as credit cards and automobile loans while at the same time announcing there will no longer be any predictions regarding rate moves for the following year but did indicate two more rate increases are likely. The Fed Funds rate moved from 2.25 percent to 2.5 percent. At the very beginning of 2018, Fed Chair Powell announced that we could expect four separate 0.25 percent rate increases by the end of 2018. So far there have been three such rate increases with the final one coming today. There was some change in expectations over the past few weeks whether or not the Fed would actually go through with the promise to make four rate bumps in 2018. This came on the heels of recent Fed comments that the economy might not be ready for another rate increase and that it’s not a given. Specifically, he stated that rates are “just below” the range Fed officials consider “neutral.” A neutral rate is one that doesn’t stimulate the economy nor slow it down with higher cost funds. Further, Fed comments also indicate that rate increases in 2019 might slow down to only two. The Federal Reserve’s Federal Open Market Committee, usually referred to as the FOMC, hold two day meetings about every six weeks and the last meeting of 2018 concluded today. One of the main responsibilities of the Fed is to control the cost of money. This is attempted by adjusting the Federal Funds rate. The Fed Funds rate is the rate banks charge one another for ...
LITTLE FALLS, N.J. (PRWEB) SEPTEMBER 18, 2018 NJ Lenders Corp. has recently been recognized as one of “New Jersey’s Top Mortgage Bankers and Brokers” by NJBIZ Lists , based upon 2017 total mortgage amount. The company was ranked 3rd on the list, and 1st for New Jersey based lenders with 3,315 New Jersey loans, and a total mortgage amount of over $1.2 billion dollars. “We are honored to be recognized as one of the state’s top lenders,” said Glenn Durr, President of NJ Lenders. “We are fortunate to have a group of seasoned professional loan officers and support staff that enable us to provide our client’s with great products and service.” Founded in 1991, NJ Lenders now has 11 offices with 8 of them located in the Garden State including Little Falls, Hoboken, Ho-Ho-Kus, Mahwah, Manalapan, Morristown, Shrewsbury, and Toms River. The recognition from NJBIZ is a great honor, as they are well-known throughout the state for its events honoring New Jersey’s top business professionals. NJBIZ is New Jersey’s leading business journal, producing a weekly print edition with a circulation of more than 15,000 copies. They also provide 24/7 business news coverage through their website and multiple daily e-newsletters. About NJ Lenders Corp. Founded in 1991, NJ Lenders is a leading NJ-based residential mortgage banker that is privately owned and licensed. The company currently originates first mortgage loans in NJ, NY, CT, PA, VA, MD, and FL. With 11 offices and over $25 billion in closed mortgage loans, many of their Mortgage Loan Originators are ...
(PRWEB) AUGUST 20, 2018 As an expert in renovation financing, NJ Lenders Corp can assist those affected by navigating the process of rehabilitating your home quickly with various Financing Options. Recently NJ Lenders’ neighbors in Little Falls, New Jersey have been severely impacted by storms and flash flooding in the area. As a local member of the business community since 1991, we’re here to help our friends in Little Falls rebuild their homes. As an expert in renovation financing, we can assist those affected by navigating the process of rehabilitating your home quickly. In order to better help our community, NJ Lenders’ is offering a $2,000 credit towards closing costs for any local resident in need of a renovation loan. They also have an opportunity to take advantage of our FHA 203K renovation loan program . This program provides funds for the renovation of a damaged home packaged into a mortgage loan. It can also help provide a homeowner with the financing of buying a home in need of repair, as well as obtaining funds for the refinancing of a property. Rehabilitation of properties damaged by the storms can include the following improvements: Repairing structural damage to include major renovation or remodeling Adding or replacing floors and/or floor treatments Major landscape work and site improvements Enhancing accessibility for a disabled person Replacing and repairing decks, patios and porches Remodeling basement to include finishes and waterproofing Upgrading plumbing, electrical and HVAC systems Weatherization including storm windows and doors, insulation, and ...
Visit NJ Lenders Corp. at booth #825 to vote for your favorite ‘retro’ candy and enter for a chance to win a $500 Amex gift card! NJ Lenders Corp. is excited to announce our participation at the 2017 Realtors Triple Play Convention in Atlantic City, NJ December 5th & 6th. The Triple Play convention has helped bring Mortgage Brokers and Realtors together in an unmatched networking event. As a premier year exhibitor, NJ Lenders Corp. will showcase our diverse and comprehensive capabilities that allows us to be one of NJ’s largest Retail Mortgage Bankers. But don’t let our name fool you! We are licensed in 7 states including New York, New Jersey, Pennsylvania, Connecticut, Virginia, Maryland, and Florida. Our mission is to produce competitive mortgage rates and fees while providing a level of service that exceeds expectations. With 26 years of experience, we are proud to serve over 60,000 homeowners.
(Published June 14, 2016) RIS MEDIA - New Jersey and New York residential mortgage banker NJ Lenders Corp. recently announced 11 mortgage originators were ranked as the best in the industry nationwide by Mortgage Executive Magazine. Steven Grossman (Little Falls, N.J.), Christopher Gallo (Ho-Ho-Kus, N.J.) Mark Casamassina (Little Falls, N.J. ) and Charles Shulman (Ho-Ho-Kus, N.J.) were the four NJ Lenders Corp. Senior Loan Originators who ranked in the on the list of the “Top 200 Mortgage Originators in America” for their production and volume in 2015. “I am thrilled that Mortgage Executive Magazine recognized so many NJ Lenders Corp. loan originators in the annual Top Originators issue,” says Glen Durr, NJ Lenders Corp. President. “These individuals are great examples of how consistently delivering service beyond expectations is the best model to ensure satisfied customers and continued success. Congratulations and thank you for your outstanding performance”. According to Mortgage Executive Magazine, the list seeks to recognize and celebrate the service, dedication, and hard work which leading Mortgage Loan Originators put into serving their clients. Ranking highest on the list, Steven Grossman of the Little Falls corporate office, was named No. 62, loan originator in the nation, according to the prestigious top 200 mortgage originator list, with a total closed volume of $130,120,248 and 256 successful closed loans. As a top producing loan officer for more than 24 years, Grossman has originated more than $1.5 billion in residential mortgage loans over the course of his career with NJ Lenders Corp. He ...