Daily Archives: September 10, 2010

Real Estate

Florida Refi Explains the New Upcoming FHA Changes!

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I know a lot of you have been hearing about “major” changes coming soon with FHA. Here is some info on what exactly is changing and when these changes will take effect.

Orlando, FL, September 08, 2010 — CHANGE #1 — On September 1, 2010, HUD released Mortgagee Letter 2010-28 regarding changes to FHA mortgage insurance premiums. The letter states that, on August 12, 2010, the President signed into law new legislation which allows HUD to increase the amount of the annual mortgage insurance premiums charged for FHA single family housing mortgage insurance programs. For purchase and refinance transactions, HUD has decided to raise the annual premium which is collected on a monthly basis (the “monthly MI”) and simultaneously lower the upfront mortgage insurance premium (the “MIP” which is typically financed into the loan) “so that FHA is in a better position to address the increased demands of the marketplace and return the Mutual Mortgage Insurance (MMI) fund to congressionally mandated levels without disruption to the housing market.”

Effective for FHA loans with case numbers assigned on or after October 4, 2010, the upfront mortgage insurance premium for purchase and refinance transactions will change from 2.25% to 1.0%. The annual mortgage insurance collected on a monthly basis (the monthly MI) will change to the following:

LTV — Annual Premiums for Loans > 15 Years
= or 95% — 90 basis points

Let’s look at a scenario and see how this will affect a typical homebuyer. Let’s say a buyer is purchasing a home at a price of $150,000 with maximum FHA financing (meaning they’re only making the minimum 3.5% down payment) and they’re getting a 30-year fixed at 4.25%. Because they are making a 3.5% down payment ($5,250), their base loan amount is $144,750.

Scenario Calculated Using Current Guidelines — Scenario Calculated With Upcoming Changes

Annual Mtg Ins. Premium: $3,256.88 — Annual Mtg. Ins. Premium: $1,447.50
Total Loan Amount: $148,006 — Total Loan Amount: $146,197
Monthly Principal & Interest: $728.10 — Monthly Principal & Interest: $719.20
Monthly Mortgage Insurance: $66.34 — Monthly Mortgage Insurance: $108.56
Total Payment Before Taxes & Insurance: — $794.44 Total Payment Before Taxes & Insurance: $827.76

So as you can see, the borrower’s payment will be higher with the new changes but my take on it is: in the whole scheme of things, when buying a $150,000 home, it’s not as “major” as some may lead you to believe. Not a HUGE deal when you really look at the numbers.

On September 3, 2010, HUD released another mortgage letter (2010-29) and it is regarding minimum credit scores and loan-to-value ratios. The three main changes, also effective for case numbers assigned on or after October 4, 2010, are:

1) Borrowers with a minimum decision credit score at or above 580 are eligible for maximum financing.
2) Borrowers with a minimum decision credit score between 500 and 579 are limited to 90 percent LTV.
3) Borrowers with a minimum decision credit score of less than 500 are not eligible for FHA-insured mortgage financing.

This is not a significant change because we (as most lenders/banks/brokers) are not financing FHA borrowers with less than a 620 credit score anyway. I don’t feel that these changes will affect you or your buyers much at all. Again, nothing too “major”.

Some good news is: we’ve heard nothing else more about the maximum interested party contributions lowering from 6% to 3% since HUD’s mortgagee letter released 01/20/10. In this mortgagee letter, HUD stated that this change will be “posted in the Federal Register in February, and after a notice and comment period, would go into effect in the early summer.” We should all be glad that this hasn’t officially rolled out (yet) because I feel that this change would have a much greater impact on us and our clients than any of the above. If we hear something more about it, I’ll let you know.

Again, if you have any questions or concerns or if you’d like to further discuss any of this, please let me know. As always, thank you for your business!!

Please visit: http://www.FloridaRefi.net

Press & Media Contact:
Mark Daniel
Florida Refi
Orlando, FL 32811
407-494-5397
Mark@TopKeyRealty.com
http://www.FloridaRefi.net

Technology

eGestalt Voted Breakthrough Technology Vendor Finalist at XChange 2010 Event

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eGestalt Technologies Inc., a world leading provider of information security and IT-GRC solutions for all enterprises, today announced it was voted as a finalist in the Breakthrough Technology Vendor category at the prestigious XChange XCellence award ceremony.

Santa Clara, CA, September 09, 2010 — eGestalt Technologies Inc. ( http://www.eGestalt.com ), a world leading provider of information security and IT-GRC (governance, risk management and compliance) solutions for all enterprises, today announced it was voted as a finalist in the Breakthrough Technology Vendor category at the prestigious XChange XCellence award ceremony at Everything Channel’s XChange Americas event recently held in Dallas, Texas.

In June 2010, eGestalt announced SecureGRC™, a patent-pending cloud-based SaaS solution that addresses all the enterprise needs around information security, compliance and risk management and provides automation and integration of policy controls to manage security and IT-GRC related issues.

XChange Americas is the largest IT channel event of the year, attracting over 1,000 attendees. This 3.5 day event brings together over 250 solution providers and leading industry vendors in diverse technology areas to build business relationships.

Having recently announced its Managed Compliance Provider channel strategy and program for the IT-GRC industry, eGestalt’s SecureGRC solution ( ) met the following five eligibility requirements to capture a large number of votes on the Breakthrough Technology Vendor ballot.

* New or enhanced product introduced to the channel in the past six months.
* Product creates new revenue streams and business opportunities.
* Product is a solution that channel partners would want to represent.
* Product contributes to solving real business technology needs; and lastly:
* Strong market opportunity for this product.

“To win recognition by the largest gathering of IT channel partners in the industry is a vote of confidence in our innovative IT-GRC cloud solution along with our unique channel based Go-to-Market strategy,” said Anupam Sahai, President, eGestalt Technologies Inc. ( http://www.egestalt.com ) “To meet any compliance requirement is a complex and expensive proposition especially for SMBs; that the channel recognizes our SaaS-based solution as being ideal for this market shows the pent-up demand for a simple IT-GRC managed compliance service.”

The XChange XCellence Awards winners are selected by top solution providers at each event and honor the vendors with the most exceptional products, programs and technologies.

Of interest to channel partners is that SecureGRC reduces the total cost of ownership by as much as 10x, making it ideal for cost-conscious small and mid-size organizations. Based on SecureGRC™, ( http://www.egestalt.com/securegrctm.html ) for the first time the channel can now deliver low-cost, high-value compliance services to their clients with unparalleled economics that are unprecedented in the industry.

Sponsored by Everything Channel Events, the XChange XCellence Awards measure business and technology integrator perceptions of vendor products, services, and programs during an XChange event. XChange attendees evaluate and score each vendor’s presentation, message and presence throughout the event, and awards are presented during the XChange XCellence Awards luncheon.

About Everything Channel:
Everything Channel is the premier provider of IT channel-focused events, media, research, consulting, and sales and marketing services. With over 30 years of experience and engagement, Everything Channel has the unmatched channel expertise to execute integrated solutions for technology executives managing partner recruitment, enablement and go-to-market strategy in order to accelerate technology sales. Everything Channel is a UBM company. To learn more about Everything Channel, visit us at http://www.everythingchannel.com/.

About eGestalt Technologies Inc.:
eGestalt Technologies Inc. is a world-class, innovation driven, leading provider of cloud-computing based enterprise solutions for Information Security and IT-GRC management. eGestalt is headquartered in Santa Clara, California, and has offices in US, Asia-Pacific and Middle East. The Consulting and development team in eGestalt Technologies in India was founded in 2007 by former Intel and IBM executives.

For further information about the company, please visit http://www.egestalt.com. For further details please call (408) 689-2586 or email sales@egestalt.com.

All trademarks contained within this press release are the sole property of their respective owners and are hereby acknowledged.

Press & Media Contact:
Victor Cruz, Principal
MediaPR.net, Inc
Santa Clara, CA 95054
(401) 349-3369
vcruz@mediapr.net
http://www.egestalt.com

Software

Virtosoftware Releases Virto Ajax Calendar 3.7 with Support of Google Calendar as a Data Source

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Virtosoftware released Virto Ajax Calendar 3.7 – a new version of the powerful web part for calendar planning and management in Microsoft SharePoint. Integration with Google Calendar is the most important new feature of the version.

San Francisco, CA, September 09, 2010 — Virtosoftware released Virto Ajax Calendar 3.7 — a new version of the powerful web part for calendar planning and management in Microsoft SharePoint. Integration with Google Calendar is the most important new feature of the version.

Virtosoftware has released Virto Ajax Calendar 3.7 – a new version of its most popular web part for Microsoft SharePoint with additional tools for effective calendar planning and management that now supports Google Calendar ( http://www.virtosoftware.com/blogs/updates/archive/2010/09/07/virtosoftware-releases-virto-ajax-calendar-3-7-with-support-of-google-calendar-as-a-data-source.aspx ) as a data source for calendar events in addition to SharePoint lists, SQL tables, Exchange Calendar and XML files. Virto Ajax Calendar is designed to provide SharePoint users with extended features and capabilities that are not available in the standard SharePoint calendar, substantially expanding its functionality and effectiveness.

Originally Virto Ajax Calendar ( http://www.virtosoftware.com ) supported SharePoint lists and SQL tables and as sources of information to be displayed in the SharePoint calendar. Later on, Microsoft Exchange Calendar was made available as another Virto Ajax Calendar data source, while version 3.5 for the first time were able to use XML files in such quality. The new version offers an updated multiple data source support. In version 3.7 the fifth data source is available: now Virto Ajax Calendar is able to display information from Google Calendar. The new version is fully compatible with both SharePoint 2007 and SharePoint 2010.

With Virto Ajax Calendar 3.7 ( http://www.virtosoftware.com ) one can easily create, view, manage and delete Google Calendar events in his SharePoint calendar, being sure that all the data in both SharePoint and Google calendars will be fully synchronized. Up to date Virto Ajax Calendar is the only SharePoint web part that provides users with opportunity to manage calendar entries from almost all possible sources: SharePoint lists, SQL tables, XML files, Microsoft Exchange Calendar and Google Calendar. To our knowledge none of the components that are available on the market allows for such an extended calendar data sources except Virto Ajax Calendar 3.7 which is already available for purchasing at very attractive price.

The new version of Virto Ajax Calendar ( http://www.virtosoftware.com ) and the recent versions of all other SharePoint web parts by Virtosoftware are available at http://www.virtosoftware.com. Visit the web site for more information about other products by Virtosoftware, trials, news, prices, special offers and updates as well as installation and user guides, and do not for get to follow us on Twitter: http://twitter.com/virtosoftware.

About Virto Software:
VirtoSoftware, a Microsoft Gold-Certified partner, designs and builds innovative web parts for Microsoft® SharePoint® 2007 and 2010. Our comprehensive lineup includes calendar, alerts, collaboration, workflow and administration capabilities for SharePoint users.

More than 1500 users around the world have chosen our products to enhance their SharePoint activities. Virto Software is headquartered in 4 with offices worldwide. For more information or to browse Virto Software’s products, please visit http://www.virtosoftware.com or contact us: sales@virtosoftware.com

Press & Media Contact:
Ms. Olga Kiner
PR Manager
Virtosoftware
San Francisco, CA 94101
+1 323 319 511
o@virtosoftware.com
http://www.virtosoftware.com

Healthcare, Science, Technology

Scientific Breakthroughs in Mental Health Diagnoses | Northam Psychotechnologies

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Ottawa, Ontario – The National Mental Health Association reports that over 65 million Americans suffer from some type of mental illness. By 2020, mental illness is projected to be the leading cause of the disease burden in North America. That obviously is a problem of staggering magnitude, with total costs to society in the hundreds of billions every year. Northam Psychotechnologies, an Ottawa, Ontario-based company holds the North American patent pending to futuristic technologies that provide a profoundly powerful solution to this problem.

Semantic Stimuli Response Measurement (SSRM) is a powerful psychological screening tool. It is the world’s first technology designed and utilized to meticulously measure the response of the subconscious mind outside of a laboratory setting. Internationally renowned brain researcher, Dr. Semyon Ioffe, has adapted this technology, which is the direct result of a worldwide body of scientific knowledge, to accommodate the North American conglomerate. He states, “We are the first testing and teaching Technology Company in the areas of Mental Health, and are able to effectively test for and detect early stages of mental disorders. We also test the effectiveness of medical or psychological treatment for mental disorders, and teach patients, on a subconscious level, to free themselves from drug and alcohol addictions, phobias, suicidal tendencies, PTSD and so much more.”

SSRM Tek can effectively enhance treatment accuracy and efficacy by determining the root causes of mental afflictions. Treatment times are significantly reduced. The necessity of follow-up procedures is diminished greatly. Unnecessary treatment methods are eliminated. And the results generated are virtually error-free. “SSRM Tek easily obtains invaluable information from a source that never lies: the subconscious mind.” Dr. Ioffe states further, “This technology has been in development for over five decades. It has surfaced strongly now and is the future of mental health care standards.”

SSRM Tek can determine the effectiveness of the treatment being provided to patients. Concurrent testing and re-testing can determine if the treatment is having positive effects on the patient and is able to follow up on the progress of the treatment. As the world’s first technology to measure the response of the subconscious mind outside a laboratory setting, this precise psychological screening tool can be used broadly in a multitude of fashions. Dr. Ioffe concludes, “We want everyone to feel very confident in requesting more information about SSRM Tek and encourage them to do so freely.”

About Northam Psychotechnologies: Ottawa-based Northam Psychotechnologies is an integrated solutions provider that utilizes SSRM Tek as the key tool to provide solutions for mental health issues. It is a registered Canadian company with shareholders. Northam Psychotechnologies, which holds both the US and Canadian patents pending, is owned by Dr. Semyon Ioffe. Dr. Ioffe, an internationally renowned brain researcher, is widely published and esteemed. A strong band of experts complement the SSRM Tek team, which is fully committed to helping keep North Americans safe and healthy.

Northam Psychotechnologies | Detection | Identification | Treatment

Follow Dr. Ioffe’s on Twitter!