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Volume 2 - Issue 1
November 2006
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AMS Adopts A Family For The Holidays
Help us make this a special year for a
special family.
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AMS is teaming up to adopt a family that needs extra help for the holidays. This family is very deserving and could really use our help. The father is blind, and receives a little bit of disability; the mother works part- time. They have a three year old boy that is a special needs child. The family spends the majority of there time caring for the little boy. This family has had a hard road but makes due with what they have. The father has a surgery coming up. He has a really bad infection in one of his eyes. The family is very concerned on how they are possibly going to make it through this one. They really have no extra money and barely make it month to month. Yet they still manage to have a smile on there face and love in there hearts. They do all that they can.
The needs of the family are the things that we tend to take for granted: Groceries, all of the day to day necessities (shampoo, toothbrushes, deodorant, toilet paper, dish soap, laundry soap), gas cards to make it to the doctors appointment. We will also give the family gifts so that they can all get a few new things.
Here is the plan to make this family have a great Holiday this year.
Calendar of events
November 16-27 - Food Drive (Non perishable items please)
November 29th - Raffle ( one dollar buys a ticket)
November 27- Dec 8 - Gift Drive
December 13th - Dollar Donation Day (every dollar donated gets you a casual day!)
December 11-22 - Food Drive/ Gift Drive
December 20th - AMS Potluck
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Eric Weight Goes For Gold
Eric Weight during the bike portion of the SOMA Half Ironman Triathlon
On Sunday, October 29, 2006 Eric Weight competed in the SOMA Half Ironman Triathlon held in Tempe, AZ. Eric was one of almost 2000 competitors that began the day at 7am with a 1.2 mile swim in Tempe Town Lake. Athletes were allowed to wear wetsuits, although the water temperature was a comfortable 71 degrees. Eric completed the swim in 45 minutes which was just about where he expected his time to be. Exiting the water to several hundred cheering fans was "pretty exciting and gives you a little boost as the blood returns to your legs while you run toward your bike." After a quick stop Eric began the 18 mile loop course that exited Tempe Town Lake and circled the area around the lake and north of the ASU campus. Athletes were required to make three laps to complete the 56 mile portion of the bike leg. The course was fairly flat but near the end of each loop was a climb up Curry and College Roads near the Phoenix Zoo. "I really felt that hill on the final lap." Eric confessed. "Although it's not a very long climb, after almost three hours of riding, my legs were starting to get tired, and I knew the half marathon was still to come."
Eric finished the bike leg in just under an additional 3 hours, so he has now been exercising for almost four hours and still had 13.1 miles to run! The run portion was very difficult for Eric and he suffered cramps from the first mile on. "I really learned a lot on the run today. My legs started tightening after mile 1 and they just never loosened up. I spent most of the second 6.5 lap walking and trying to relieve the cramping in my legs."
Although Eric was disappointed with his final time he was glad to have completed the race and looks forward to competing again next year. Eric has been competing in triathlon for the past two years and this was his first attempt at the Half Ironman distance. "I definitely know where my training needs to improve, but I loved the event!"
Congratulations Eric on your accomplishment!
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Buttery Cider-Glazed Turkey
Ingredients:
• 1 12- to 14-lb. turkey
• Kosher salt or salt
• Freshly ground pepper
• 4 cloves garlic, peeled and halved
• 1 small onion, peeled and cut into wedges
• 1 medium baking apple, cored and cut into wedges
• 2 tablespoons butter, melted
• 6 medium or 8 small baking apples, cored and cut into eighths (such as Golden Delicious, Gravenstein, Granny Smith, Winesap, Rhode Island Greening, Braeburn, Russet, Lady (use 2 lady apples for each medium apple; leave whole)
• 2 tablespoons lemon juice
• 2 cups fresh apple cider
• 5 about 3-inch sticks cinnamon, broken
• 1/3 cup butter
• 1/3 cup packed brown sugar
• 1 tsp. dried thyme, crushed
• 1/3 cup all-purpose flour
• Chicken broth
• Kosher salt and black pepper
Directions:
1. Rinse turkey well and pat dry with paper towels. Season inside cavity generously with salt and pepper. Rub one of the cut garlic cloves on inside cavity. Place garlic cloves, onion, and the first apple in cavity.
2. Pull turkey skin to back; fasten with skewer. If a band of skin crosses the tail, tuck drumsticks under band. If no band, tie drumsticks securely to tail. Twist wing tips under back. Brush turkey with 2 tablespoons melted butter. Season with salt and pepper.
3. Place bird, breast side up, on a rack in a shallow roasting pan. Insert a meat thermometer into center of one of inside thigh muscles, but not touching bone. Cover bird loosely with foil. Roast in a 325 degree oven about 2-1/2 to 3-1/2 hours or until thermometer registers 160 degrees F. (Cut band of skin or string between drumsticks after 2-1/2 hours.)
4. Toss apple wedges with lemon juice. Place apples around turkey. Continue to roast, covered with foil, for 30 minutes more.
5. Meanwhile, in a small saucepan bring apple cider and cinnamon sticks to boiling. Reduce heat and boil steadily about 30 minutes or until cider is reduced to 2/3 cup. Add 1/3 cup butter, brown sugar, and thyme. Heat and stir until sugar is dissolved. Remove and discard cinnamon sticks.
6. Remove foil from turkey; brush turkey and drizzle apples with the cider mixture. Continue roasting, uncovered, until meat thermometer registers 180 degrees F, brushing bird and drizzling cider mixture over fruit every 10 minutes. Remove turkey from oven; discard cavity ingredients. Transfer roasted bird to a large serving platter. Surround with apples. Cover with foil; let stand 15 to 20 minutes before carving turkey.
7. Pour pan drippings into a large measuring cup. Scrape the browned bits from the pan into the cup. Skim and reserve fat from the drippings. Pour 1/4 cup of the fat into a medium saucepan (discard remaining fat). Stir in flour. Add enough broth to remaining drippings to equal 2 1/2 cups; add broth mixture all at once to flour mixture in saucepan. Cook and stir over medium heat until thickened and bubbly. Cook and stir for 1 minute more. Season to taste with salt and black pepper.
8. Makes 12 servings
Steve's Beverage Recommendation
With this meal Steve recommends:
Beaujolais Nouveau
I like to marry France’s Beaujolais Nouveau release with my Thanksgiving meal. The third Thursday of November every year is always the splashy arrival date for the first wines of the new vintage. Beaujolais Nouveau is a simple, fresh, non-egoistic fruit bomb of a red wine and is almost always 10 bucks or less. Made from the lighter Gamay grape, it’s aromatic and laden with bright cherry candy or jam. Serve it chilled for the best results. My favorite producers in past releases have been Mommessin and Drouhin.
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Joke Of The Month
Thanksgiving Bird
A lady was picking through the frozen turkeys at the grocery store, but couldn't find one big enough for her family.
She asked a stock boy, "Do these turkeys get any bigger?"
The stock boy replied, "No ma'am, they're dead."
Cyber Chat
By Steve Bradshaw
Hello AMS!!
I hope everybody had a great November. It has been a busy month in your I.T. Department.
We just finished a reorganization of the bank layout to create more synergy and efficiency for better service and turn around times for your loans!
We are also designing and hosting more branch websites. If you currently have one and we are not hosting, you will be hearing from us to move it to one of our secure servers. If you would like a web site, send us an email and we will be happy to go over all of the options with you.
I am going to grab some loose fitting pants and get ready for Thanksgiving.
Talk to you next month.
Steve Bradshaw
Vice President
Information Technology
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Advertising
Please fax your advertisements for approval to (480)777-4195 or email vickioania@amsaz.com.
All ads must be approved prior to distribution
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Appraisals
It is considered unethical practice to request an appraiser to “hit” a certain value on an appraisal. You are not to place values on appraisal order forms or any other activity that might influence the appraiser’s independent determination of value.
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Equal Housing Opportunity
Please download the Equal Housing Opportunity Display. Every branch must display a copy of both the English and Spanish versions next to their Branch License in the lobby of their office. Please contact Vicki Oania at vickioania@amsaz.com or by phone at (480) 777-4133 if you have any questions.
401K Notice
John Hancock USA has updated the pension plan enrollment forms. Please discontinue the use of any saved 401k enrollment forms. In the past we have added a complete 401k application to the new hire packets. In place of the application we have now added a one page form letter for the employee to complete and send in with their employment packet. All that is required by the employee is to indicate whether they are interested in the 401K plan. Enrollment forms will only be sent out when requested. The form specifies that any employee over the age of 21 and who has completed the 90 day required waiting period is eligible to enroll on the plan. Once the form is received by the Human Recourses department the employee will receive a response via email. Please fill free to contact Magda Provencio of the HR department for further information on our company's retirement plan.
Contact Magda Provencio magdaprovencio@amsaz.com or direct line 480-777-4125.
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Troy's Tech Tips
Removing Software
Installing software easy. These days, you just slip a disc into your computer or double click on the downloaded file, and you’re on your way. But what about when you want to get rid of that program? Not so easy.
Because of the way Windows stores its applications, you have to do a bit more work, to make sure you sweep out all of the files associated with the program in question. The best bet is to look inside the main application’s folder on your hard drive. You’ll usually find it in the “program files” folder on your main drive. Look for a program called “uninstaller.” That’s the best way to go. If it’s not there, go to your computer’s control panels, and select “Add/remove software.” Click on the name of the program you’d like to remove, and uninstall it. I
If that doesn’t work, there are programs available to clean them out – like Ashampoo’s Uninstaller and Norton Systemworks… each costs about $40.
Just Do I.T.
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AMSU
Calendar
You can download a full version of the calendar at: www.amsbank.com/AMSU/AMSU Brochure.doc
November 20th 2006 -Internship 10-12
AMS Express 2/ Rate Sheet Training 1-3
November 21st 2006 - AMS Elite Training 9-11
Bank Orientation 1-3
November 22nd 2006 - Revised Compliance 9-12
CLO Orientation 1-4
November 27th 2006 - AMS Xpress 9-10
AMS Xpress 1030-1130
Processing Training 1-5
November 28th 2006 - Internship 10-12
Processing Training 1-5
November 29th 2006 - Revised Compliance 9-12
Processing Training 1-5
November 30th 2006 -Internship 10-12
Branch Orientation 10-4
December 1st 2006 - LPA/BM 9-10
LPA/Realtor 10-11
December 4th 2006 - Calyx Pt. 101 9-12
AMS Express 2/ Rate Sheet Training 1-3
December 5th 2006 -AMS Elite Training 9-11
Bank Orientation 1-3
December 6th 2006 - Compliance 9-12
CLO Orientation 1-4
December 7th 2006 - Branch Orientation 10-4
Internship 10-12
December 8th 2006 - Internship 10-12
Calyx Pt. 102 1-4
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How To Get Your Home Sales to the Closing Table
by by Janet Wickell
It's surprising how many real estate agents feel the most important part of their job is getting a signed contract. In the real world, a contract is just the beginning for any agent who plans to take the real estate profession seriously.
Closings Don't Just Happen
What about getting the sale to closing? Most closings don't just happen, they take place because at least one agent involved in the transaction makes the effort to ensure everything is progressing as it should.
I've seen many contracts fall apart simply because the agents weren't staying in touch with their clients and other parties involved in the sale. They sent their clients off with a few names, waved good-bye, and said see you at closing. Does that sound crazy? It sure is, but it happens–more often than you can imaginep] The bottom line: no closing, no commission–and probably no referrals, your future income.
Those of us who plan to be around for the long term must show that we are the people clients can look to for advice and results.
Agents Working with Buyers
Ask the lender for a list of items required for closing, and find out if they provide online or faxed loan status updates. If not, talk to the lender as often as necessary to make sure all work is being done–on your part and theirs.
• If you're working with a VA or FHA loan, make sure you're up-to-date on all the current requirements.
• Be sure deadlines are met, such as promised dates for all inspections and loan commitments. Convey all information to the seller's agent on time.
• Although you shouldn't steer a client to specific individuals, you should provide a list of service professionals who have good track records: surveyors, home inspectors, pest control companies, attorneys.
• Go with your clients to inspections if possible, sticking to the sidelines and watching what takes place. Home buyers are more likely to be stressed if repairs are required, even if they are minor. A thorough understanding of needed repairs makes it easier for you to counsel your clients and negotiate with the other agent if necessary.
• Don't forget to give your clients a list of all utility companies that service the new home. They'll need to arrange for services to begin on the day of closing.
• Make sure clients are talking with someone about home insurance. That sounds pretty elementary, but many home buyers wait until the last minute to obtain an insurance rider.
• In my state, most closings are managed by attorneys, and an attorney performs the title search. In other states title companies perform the title searches. Make sure arrangements are made for the type of work required in your area.
In short, make yourself available and stay informed.
Agents Working with Sellers
• If a commitment date passes with no confirmation from the buyer's agent, call the agent to find out why it's late, and when it can be expected.
• The appraisal is critical. If more than a few weeks go by with no appraisal, get on the phone to find out why. After the appraisal is complete, verify that the results meet the lender's expectations.
• Your office staff should tell you when inspections are scheduled, since the inspector must enter the house. Call the buyer's agent the next day to ask for feedback. If there's a problem, you want to know now, not in two weeks.
• Check-in with the other agent occasionally, to make sure things are progressing as they should.
• Remind your clients about utility shutoffs or transfers.
• If your clients are selling one house to move to another, you may be handling two transactions. That means double-duty in making sure both deals are progressing towards synchronized closings.
Every transaction is different, you'll sometimes have problems that are deal killers. It happens. But it shouldn't happen simply because someone doesn't do their job.
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LOAN LOGS ARE DUE TO COMPLIANCE BY THE 5TH OF EVERY MONTH.
A LOAN LOG IS NEEDED EVEN IF YOU DID NOT CLOSE ANY LOANS. JUST PUT ON THE LOG “NO LOANS”. Also cancelled/ Denied files must be turned in monthly to suite 104 along with a loan log for the files turned in.
Fax your loan log to (480)777- 4195 or email directly to compliance at
Compliance@amsaz.com
Download Loan Log Form
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Mortgage Rates Back To November 2005 Levels
Article obtained from Mortgage News Daily
Frank Nothaft, vice and president and chief economist of Freddie Mac credited declining third quarter Gross Domestic Product figures for a slight drop in mortgage interest rates for the week ended November 2.
Nothaft said, "With mortgage rates down this week, we may see a spurt of refinancing by those who want to get out of ARMS that are scheduled to reset in the next year while interest rates are still comparatively low."
According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) was down 9 basis points to 6.31 percent for the week with fees and points unchanged at an average of 0.4 point. This rate is identical to the average interest rates for the 30-year mortgage one year ago.
The 15-year fixed-rate mortgage averaged 6.02 percent for the week compared to the week of October 26 when it averaged 6.10 percent. Points were again unchanged at 0.4. In November 2005 the 15-year FRM was 5.95 percent.
The rate for five-year Treasury-indexed hybrid ARMs was 6.05 percent with 0.5 point. One week ago it was 6.14 percent with 0.6 points and one year ago it averaged 5.76 percent. The one-year Treasury-indexed ARM averaged 5.53 percent with an average 0.6 points, 7 basis points lower than one week ago but much higher than the 5.09 percent level of the same week in November 2005. Fees and points last week were 0.6 compared to 0.7 the previous week.
Nothaft also noted that some mortgage activity may be fueled by homeowners who are refinancing and taking cash out of their homes for remodeling or other needs rather than using home equity lines with the prime rate now over 8 percent.
Interest rates as reported by the Mortgage Bankers Association for the week ended November 3 were mixed but with little overall movement. The average contract interest rate for the 30-year fixed-rate mortgage was unchanged at 6.24 percent with points, including the origination fee, down from 1.09 to 1.08. The 15-year fixed rate mortgage was up 2 basis points to 5.96 percent with points decreasing from 1.03 to 0.97. The largest change recorded by MBA was for the one-year ARM which decreased from 5.93 percent to 5.89 percent, points dropping to 0.8 from 0.84.
All mortgage rates are for 80 percent loan to value originations.
Mortgage applications were up from the previous week; 8.8 percent on a seasonally adjusted basis and 8 percent unadjusted. Where activity had been running 20 to 30 percent below year-over-year figures in the second and third quarters of the year and 10 to 20 percent in recent weeks, the applications rate was only off 5 percent last week compared to the same week one year earlier.
Refinancing as a share of all mortgage activity increased to 46.3 percent from 45 percent the previous week and adjustable rate mortgages represented 26.4 percent of total applications compared to 25.9 percent the previous week.
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