Welcome!

News Feed Item

Matt Argall Expands His Business Into the Mortgage Industry

MIAMI, FL -- (Marketwired) -- 03/18/14 -- For decades, banks such as Goldman Sachs Group, Bank of America, Morgan Stanley, and Ally Financial have been selling mortgage-servicing rights. But now new restrictions from Washington, including rules prescribing how mortgage servicers interact with borrowers and how capital costs for servicing loans can be raised, are pushing banks out of the mortgage business in an effort to take some of the risks attached to it out of the banking system. As a result the handling of customers' loans by companies such as hedge funds and nonbank financial firms is expected to increase. Risks aside, the mortgage business can be really lucrative, mainly due to fees collected from mortgage owners for handling billing and payment collection. On top of that nonbank companies are not subject to the same capital rules and oversight, which allows them to simplify and streamline the process.

Given the new "Qualified Mortgage" rules, which make it tougher for many people to obtain a mortgage, there is a growing need of competent companies that can help hopeful house buyers in figuring out their options to finance their dream -- a business opportunity that experienced entrepreneurs such as Matt Argall are ready to jump on. The new rules, which took effect on January 10th this year, aim to prevent giving high-risk loans to financially unstable borrowers in an effort to avoid another crisis on the real estate market. In order to be considered "qualified" under the new rules, the applicant must have a steady, provable income history, good credit, and not too much debt. There are, however, lenders out there who are giving non-QM loans, for example interest-only loans, which do not require the borrower to make principal payments until a predetermined number of years have passed. Finding non-QM offers in the current market is not easy though, which is where mortgage companies come into play.

Matt Argall already has an in-house mortgage team and is now looking into the option of offering more extensive services to help customers finance their real estate purchases. According to the Mortgage Bankers Association, there is a growing demand on the market with U.S. mortgage applications rising by 9.4 percent last week as interest rates slipped, based on a survey by the MBA which covers over 75 percent of U.S. retail residential mortgage applications. In order to obtain a loan, borrowers need to go through a lengthy and complicated application process where the help of professional mortgage companies comes in handy, that can give advice from examining the financial situation to picking the right mortgage program and submitting the application.

Matt Argall is an enthusiastic entrepreneur who dived into the business world at the age of 17 when he helped his best friend at the time to save a big online company that sold wholesale products online. He went on to apply his marketing skills working for MCI Inc. before he founded his own company. One of his first businesses served the gas and electricity industry, where he employed 100 people in call centers in the United States and another 400 overseas, in the Philippines. Many other companies followed after that. Matt never has limited himself to one industry. Lately, he has been looking into opportunities in the water filtration, greeting cards, supplements, and, most recently mortgage industries.

Matt Argall News: http://www.mattargallnews.com

Twitter: http://www.twitter.com/matt_argall

Facebook: http://www.facebook.com/pages/Matt-Argall/323183061170502

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2544818

Add to Digg Bookmark with del.icio.us Add to Newsvine

PR Agency Contact:
ICMediaDirect.com
TEL: 1.800.595.0821
www.ICMediaDirect.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
Recognizing the need to identify and validate information security professionals’ competency in securing cloud services, the two leading membership organizations focused on cloud and information security, the Cloud Security Alliance (CSA) and (ISC)^2, joined together to develop an international cloud security credential that reflects the most current and comprehensive best practices for securing and optimizing cloud computing environments.
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...