The Romo Report

The Mortgage Blog Of Alex Romo – 312-738-8430

To My Valued Clients

I am excited to share some fantastic news!

The owners of Chicago Bancorp, National Bancorp Holdings, and The Federal Savings Bank have offered me a position as “Senior Vice President at The Federal Savings Bank”.
This platform allows me to deliver a wide range of great mortgage products and service to my clients while enjoying the stability, security, and national reach of a Federally Chartered National Bank. I am looking forward to providing the same great service with distinctly more benefits to all of you. Please sit back, relax and watch as we are rebuilding America, one home loan at a time!

My business is 100% referral based.  If you or someone you know is in need of a mortgage consultation please do not hesitate to pass on my contact information.

Alexander Romo

Senior Vice President

Filed under: Housing Market, , , , , , , , , , , ,

Year End Report Finds Foreclosures Down 34 Percent in 2011

RealtyTrac’s Year-End 2011 U.S. Foreclosure Market Report shows a total of 2,698,967 foreclosure filings in 2011, down 34 percent from 2010 and 33 percent below 2009′s totals. Foreclosure filings, which include default notices, scheduled auctions, and bank repossessions, were reported on 1,887,777 properties in 2011. Brandon Moore, chief executive officer of RealtyTrac, said 2011 saw a dramatic drop in foreclosure activity, due to a lack of clarity regarding documentation and legal issues. For the month of December, foreclosures dropped 9 percent from the month before and 20 percent from the previous year. December’s totals were the lowest since November 2007. Default notices were down 19 percent during the month. More here.

Filed under: Housing Market, , , , , , , , , , , , , , , , , , , , , , , , ,

Americans’ View Of Economy, Housing Takes Positive Turn

For the first time in nearly a year, more Americans say they expect their financial situation to improve over the next 12 months than say it’ll stay the same. Fannie Mae’s Monthly National Housing Survey shows an increasingly positive attitude toward the housing market and the broader economy among surveyed Americans. The results of the survey found a six percent jump in the number of people who say the economy is on the right track and a four percent spike in the number of participants who expect home prices to increase in the next year. Doug Duncan, vice president and chief economist at Fannie Mae, said there’s been a marked improvement in consumer sentiment regarding the direction of the economy, personal finances, and future home price expectations following the fourth-quarter pickup in the economy. On average, Americans say they expect home prices to rise by 0.8 percent in the next 12 months, up from 0.2 percent in November. Also, 71 percent of Americans say it is a good time to buy a home, which is a 3 percent increase from the month before. More here and here.

Filed under: Housing Market, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Study Examines Americans’ Attitudes Toward Purchasing A Home

According to a study from the Mortgage Bankers Association titled The Great Recession and Attitudes Toward Homebuying, nearly 80 percent of American households believe now is a good time to purchase a home. The research examined consumer attitudes toward homeownership before, during, and after the most recent recession using 30 years of data from the University of Michigan’s Survey of Consumer Attitudes. The findings show despite slow economic growth and high unemployment, Americans overwhelmingly say conditions are good for buyers. The positive perception was particularly strong among young, educated, white and Hispanic Americans. Michael Fratantoni, MBA’s vice president of research and economics, said the study shows young households still value homeownership and that homebuyer sentiment has returned to its long-term average. More here.

Filed under: Housing Market, , , , , , , , , , , , , , , , , , , , , , , , , ,


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About Alex

Alex Romo is one the leaders in the mortgage lending industry. With over 10 years of experience, Alex has grown to be one of the top originating Loan Officers in the country. His extensive knowledge of today's programs and the ability to offer the best options for his clients has earned him a high level of respect with his Realtor partners.

Alex utilizes state-of-the-art client follow-up systems to provide superior service.

Alex specializes in referrals from past clients and works closely with Realtors in Chicago and the south and west suburbs where he has personal knowledge of the communities and neighborhoods.

The powerful combination of mortgage industry expertise, local market sensitivity, and top-notch customer service ensure a smooth transaction experience for clients and real estate professionals alike.

“My favorite part about my career is helping those who dream of homeownership achieve that goal,”

Expert in:
FHA Lending
First Time Home Buying
Credit Repair
Equity Repositioning
Jumbo Lending
Commercial Lending


Alexander Romo

Senior Vice President
The Federal Savings Bank
300 N. Elizabeth St 3E
Chicago, IL 60607
Office: 312-738-8430
Cell: 773-550-2539
Fax: 312-628-8311
NMLS# 217060


**Alex is one of the best loan officers I have worked with. He is very skilled and gets the job done. He is great with his clients and walks them through the process from start to finish. He is hard working and very responsive to all his deals he takes pride in his work. I would give Alex 5 stars give him a call you will not be disappointed
- Marlene B. Realtor

**When we found a home at the beginning of January 2014, due to some pressing situations, Alex was certain we could close at the end of the month. And we did!!!! He was actually ready to close a week earlier. His knowledge of the market and about upcoming rule changes to home financing were very helpful for us to decide to buy a home. I would certainly recommend him to anyone looking to finance a home
- Mallari and Robert

**Alex was very helpful during the entire process. He took the time out to explain every step of the loan process from start to finish. Every time that I had an issue Alex was always a phone call away, and he actually answered it. No voice mail, which gave my wife some piece of mind. He did a great job, and I would recommend him to anyone.
- Anthony P.

**Alex, it was truly a blessing having you to work with, thank u so much for everything and for explaining everything to me in my language.
- Charles R. Jr.

**I was looking for a home in the Chicago area and because of my current credit situation I looked to my father to apply for the loan instead of applying myself. My father was a preferred customer at Bank of America and according to our loan officer there, it was a sure deal that the loan would be approved. After a long period of time and very little communication the loan was declined with no immediate explanation. After that whole mess, I was in contact with Alex Romo, not only did he get an approval but he helped me get my credit in line and I was approved by myself. I highly recommend that anyone looking to get a home loan contact Alex. He knows the mortgage process inside and out.
- Eric H.

**Alex really does go above and beyond in helping you get the mortgage that is right for you and your family. He is knowledgeable and more importantly he takes the time to EXPLAIN the often times too wordy jargon that is mortgage language.
- Janie

**Alexander Romo takes the stress out of purchasing a home! Alexander took care of everything for my family while applying for a loan. Alexander was with us from start to finish! When purchasing a home, I highly recommend Alexander when looking for a great loan!
- Jason P.

**Alex has been a pleasure to work with on a number of legal transactions. His extensive knowledge, initiative, responsiveness, and hard work are only overshadowed by his honesty and integrity. I wouldn't hesitate to refer any of my clients to Alex for their borrowing needs!
- Attorney Jay R.

**Alex was very Helpful, and was the only person that was able to get me approved. many others tried but just couldn’t close the deal. Thanks Alex
- Juan A.

**My experience with Alex has been great. He is very quick and responsive and does a great job for his client.
- Margaret L.

**Alex really knows how to take care of his clients. From beginning to end, he was always available to answer questions. His knowledge of the housing market puts him at the top!
If you're in the market to purchase, Alex is your guy! I will recommend Alex to everybody I know
- Maria O.

**Alex is great with follow up and has tenacity to get you or your client the best rate and make the deal work for everyone.
- Phil B. Realtor

**Alex is very professional as a loan originator for The Federal Savings Bank. He follows up with his clients and attends all his closings. I would feel compfortable in recommending him to my follow colleagues.
- Sylvia R. Realtor

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