Click on the following link to see a copy of Here’s Heyler February 2012 Newsletter

Located at the end of a gated road in private enclave of custom homes, this desert oasis exhudes quality living and entertaining space. Nestled high above the fashionable shopping and elegant dining destination of El Paseo, this exquisite home is moments from accessing the city and yet a world away in the quietude the foothills. The mature landscaping and elegant gardens offer tranquility and privacy. The warm gracious, light and bright Living room welcomes you into the great entertaining living space, gourmet kitchen and breakfast room complete with center island, stainless steel appliances, Sub Zero, and walk in pantry offer great access to take in the mountain and tree top views. Generously proportioned romantic master bedroom opens to the customized pool and spa, relaxation is steps away. The master suite is complete with his and hers private closets and sophisticated master bath with spa tub, steam shower and fireplace. The epitome of quality desert living!

Click on the following link to see a copy of Here’s Heyler January 2012 Newsletter Heyler

Exceptional Spanish style home centrally located in the heart of the Westside Triangle. Lovely tree-lined street, close to Century City, Westwood, shopping, restaurants, golf course and recreational park. The classic floor plan offers 3 good sized bedrooms, one absolutely stunning original tile bathroom, formal dining room, bonus room, breakfast room. Security system, A/C, lovely backyard.

“I have a friend who I use instead of Prozac. Whenever life feels overwhelming, I call her and ask her to lunch. Apparently, she’s the drug of choice for many people because her calendar is always heavily booked; I love that she squeezes me in when I use the secret emergency code words “It’s been so long since we’ve talked!”

I can talk to Jae Wu about anything and she hears me. Notice, I didn’t say she listens. Lots of people listen — my dog listens if I hold a cookie in my hand — but no, Jae actually hears.”

To read the rest of the article click on the link below.
http://www.huffingtonpost.com/ann-brenoff/an-atttitude-of-gratitude_b_1086546.html

How the Fed’s Move Can Help the Housing Market
by John Walsh

One of the lessons learned from previous government efforts to solve complex problems is known as the “law of unintended consequences.” According to this concept, whenever the government devises some master program, tax, or regulatory scheme as part of an effort to achieve some purpose, it invariably creates other unpredictable outcomes–the unintended consequences.

The term is widely used by the political party that is out of power to argue against the policies of the party in power; citing the potential negative unintended consequences their opponent’s plan would cause. Despite its use as a weapon of political combat, the concept of unintended consequences is a fundamental precept of economic theory dating to Adam Smith and his description of the “invisible hand.” It is important to note, however, that unintended consequences can sometimes be positive.

We are currently reeling in the midst of multiple disruptive economic events: the credit downgrade of U.S. debt, the European debt and banking crisis, a general economic growth slowdown, and a bold statement of intent by the Federal Reserve to keep the Fed funds rate near 0% for 22 months. While the credit downgrade was certainly related to government policies over the course of several decades, and most recently with the underwhelming deal to raise the debt ceiling, it is the potential unintended consequences of the recent Fed move that creates the opportunity to move the housing market from crisis to recovery. With the Fed pledging to keep Fed funds rate at 0% until the middle of 2013, everyone seems to be focusing on the ability for homeowners to save money by refinancing an existing mortgage, which is a positive. One thing, however, that is being overlooked is how this may help the housing market begin the recovery process. The Fed’s announcement has, perhaps as an unintended consequence, made returns in short term Treasuries negligible at best. This is causing banks to start to look outside the box for better returns and away from the pure-vanilla Fannie, Fredie and FHA mortgages.

We were already seeing some traction in the jumbo market with several banks coming out with new jumbo products. But this recent Fed move could spur lenders–both banks and nonbanks–to introduce more creative mortgage products in an effort to realize higher yields. This could be just the shot in the arm that the housing market so desperately needs. There are thousands of people who can afford to make a regular monthly mortgage payment on time that simply don’t qualify under the stringent underwriting standards that are currently in place. In order to capitalize on the extremely low cost of funds we can imagine, and would welcome, the introduction of some creative mortgage products that are so desperately needed in order to fill a void in the market.

Let me make it clear that I am not advocating the return to subprime lending. But given all the tools now available for quality origination and for quality underwriting, the HVCC and better disclosure forms, the market seems well-positioned to accept these more creative financing alternatives without compromising the overall credit quality of the loans.

What we are positioned for better than ever before is the concept of true risk-based pricing for loans. Each consumer who presents a loan application is unique and represents a singular risk to lenders and investors. Under risk-based pricing the lender wold offer them a price (interest rate) and terms (fees for insurance, etc.) that is commensurate with the risk they reflect at that time. Investors need higher returns, consumers with less-than-perfect underwriting profiles need an opportunity to participate in the housing market. This is a win-win scenario.

We need loan products that can provide a vehicle for Americans to purchase the excess housing inventory that is available at significantly reduced costs. We need products that will allow working but imperfect borrowers the opportunity to purchase homes from those who are facing unemployment–unlocking equity or freeing the homeowner and the lender from likely foreclosure. We need mortgage products that lead to follow-on consumer spending on household goods and services. We need homeowners who have the ability to renovate and rehab existing properties to improve values and neighborhoods. We need construction jobs from new housing construction. We need Americans buying in to the American dream rather than giving in to the American decline–rhetoric that is growing louder by the day. At the end of the day, an unforeseen benefit of the Fed move will hopefully be the start of the housing recovery.

The Greatest CEO (Uncredited Editorial)

Mortgage chief executives would do well to follow the example of Steve Jobs, one of the greatest CEOs in American history, if not the greatest ever (time will tell on that).

Jobs brought pride and passion to his role at Apple, as well as a visionary intensity and perhaps even a genius. Many CEOs follow the money carrot in front of them, at the direction of their boards (creating a closed loop that can bar many other valuable contributions and occasionally can turn negative or even criminal). Jobs was driven to create things of value for his customers, which would then create value for shareholders. Jobs ran his company as if the C-suite was still in the garage where he had his first inspirations.

In addition, many CEOs of large American companies are vastly overpaid. Jobs was worth every penny he ever got. It’s worth remembering, too, that resiliency was a huge part of Jobs’ toolkit. He was bested handily in the original PC wars, and was even ousted from his own company, which was in tatters as he returned to lead it to the very top of the list.

Luckily, there still was an Apple cult of devoted users who found Macs superior to PCs, more stylish, more reliable, and equipped with the latest and freshest apps. This core became the impetus for the successful chain of retail stores Apple has opened. And its legendary acumen with apps like iPods, iPads, and iTunes has led the way into a future people could only dream about just a few years ago. People now hang on to Apple product releases or upgrades the way a previous generation might look to see what new auto models Ford or GM was releasing.

How can mortgage CEOs follow Jobs’ example? The mortgage business is in roughly the same shape Apple was at its nadir. If not in tatters, it has been battered. It has drop-kicked creativity out of its C-suites and gone back into a turtle shell of a model popular 30 years ago (Freddie, Fannie, Ginnie and a very few nonconforming lenders). It is a business that is in dire need of a genius.

Of course, there are technology firms in the mortgage space. And they have demonstrated a creativity and nimbleness that Steve Jobs might have recognized. Defaults causing a resurgence of short sales? Here are a dozen short sales solutions for you to consider. Don’t trust the ratings agencies any more (and why should you)? Here are a bunch of new risk analytics firms to help you quantify your risk.

Sean and Jae,

We are so appreciative of the friendship and guidance and service you’ve provided us over the years. You showed us the path to our dream home and we couldn’t be happier.

What you offer is so special and unique and it [is] always our pleasure to send friends your way.

Have a great day – we’ll talk to you soon!

So so grateful,

M&B