Are You Really Listening?

Active listening is a very important part of business relationships. By being a good listener, you're demonstrating respect to everyone in a conversation. It also helps ensure you are receiving complete details and clarity of the message. Whether you're communicating over the phone or in person, these 6 active listening strategies will keep you tuned in to the conversation!

1. Power Down. 

Don't let technology distract you while you're trying to listen. Email pop ups and cell phone notifications disrupt the conversation and distract both you and the speaker. Put your phone on silent, close your laptop and turn your desktop monitor away from you. Your messages will still be there when your conversation is over.

2. Sit Up. 

How you physcially carry yourself carries through into your energy and attentiveness. Be sure to have good posture, sit up straight and give the speaker your full attention. If you are on the phone, consider standing up to be more alert and attentive.

3. Don't Interrupt. 

Hold your clarifying questions until the speaker is done rather than interrupting the conversation. If you get the speaker off track, you may miss something important he was planning to say. Jot down your questions instead, so that you don't forget. They may even get answered along the way.

4. Cue You are Listening. 

Simple verbal cues like "uh-huh" and "okay" show the speaker that you are still present in the conversation and not just zoning everything out. If you are in person, an occasionall nod goes hand in hand with making eye contact.

5. Summarize Key Points. 

When the speaker is done, summarize his or her key points to show that you were actually listening. State with, "What I'm hearing you say is..." or "If I'm understanding you correctly..."

6. Clarify. 

Ask questions that provide additional details about a situation. You can also clarify what actions or outcomes the speaker anticipated by having the conversation with you.

Active listening is something that I, your Lake of the Ozarks mortgage lender strives to do. I will listen to your financing needs and discuss home loan options or refinancing at the Lake of the Ozarks with you. I'm committed to working with you every step of the way!

For Lake area news, resources and tips on financial services, please 

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Michael Lasson

Sr. Residential Mortgage Lender

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

March Comes In Like a Lion and Goes Out Like a Lamb

As March comes in this year, the housing sector continues to roar ahead with good news, while other sectors are struggling. Read on to learn the latest details, and what they mean for home loan rates.


Despite the harsh weather, New Home Sales rose by 9.6 percent from December to January to an annual rate of 468,000, well above expectations. The 468,000 rate was the highest level since July 2008. Pending Home Sales for January also came in just above expectations and well above December's reading. In addition, research firm CoreLogic reported that completed foreclosures fell by 19 percent from January 2013 to January 2014, while the Case Shiller 20-city Home Price Index ended its best year since 2005.

On the other end of the spectrum, the second reading for 2013 fourth quarter Gross Domestic Product (GDP) was, in a word, gross. GDP fell to 2.4 percent from the initial reading of 3.2 percent, sharply beneath the 4.1 percent recorded in the third quarter of 2013. The decline was due in part to consumer spending and exports that were less robust than initially thought, signaling U.S. economic growth remains choppy. However, there was some good news in the report as company spending was revised up sharply, suggesting an improvement in business conditions.

In labor market news, weekly Initial Jobless Claims rose by 14,000 in the latest week, reaching a one-month high as the job markets continues their up and down pattern. The labor market has been choppy lately, especially after the anemic number of job creations in December and January.

What does this mean for home loan rates? Remember that the Fed is now purchasing $35 billion in Treasuries and $30 billion in Mortgage Bonds (the type of Bonds on which home loan rates are based) to help stimulate the economy and housing market. This is down from the original $85 billion per month that the Fed had been purchasing. With the December and January job creation numbers far below expectations, the Fed will be looking closely at February's numbers for any signs of a pattern. If this report and other key economic data points are weak, the Fed may have to rethink the tapering it has begun. This story is sure to impact the markets and home loan rates as we move ahead in 2014.

The bottom line is that now remains a great time to consider a home purchase or refinance, as home loan rates remain attractive compared to historical levels. Let me know if I can answer any questions at all for you or your clients.

I would love the opportunity to help you manage your Lake of the Ozarks Mortgage Loan or refinance.  Give me a call at (573) 746-7211 or send me an email at mlasson@fsbfinancial.com with any questions you may have!!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Sr. Residential Mortgage Lender

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

Top 6 Reasons Realtors refer their Buyers to First State Bank

Attention Real Estate Agents - First State Bank works WITH you to make sure your buyers receive the best service!!

1. Sometimes Lake of the Ozarks second home buyers need to close on Saturdays, that is no problem for First State Bank! We understand the atmosphere of the Lake and realize that some buyers need to the lake Friday after work or Saturday Morning.  I can close anytime on Saturday and fund the same day!
2. Would you like your buyers to close at the Title Company of your choice, that is no problem for First State Bank, we do not require that you and the Title Company close at our facility.
3. How about competitive interest rates at low costs with Great Communication throughout the transaction?
4. Buyers can take the advantage of the opportunity to apply on line and ensure the process be smooth at www.yourlakeloan.com .
5. Can your Lender close in 30 days or less, we can, with our in house underwriting and processing we can in most cases guarantee a closing in 30 days or less.
6. Is your Loan Officer available on the weekends when your buyers are here asking questions?  We are, call me anytime 24 hours a day 7 days a week, my office number is 573-746-7211 or cell phone 573-216-7258.

Give the Michael Lasson Team at First State Bank Mortgage a call today and let us put service back into your buyer’s transaction.  We have put the team in place to guarantee a smooth and efficient transaction!

We would love the opportunity to help you manage your Lake of the Ozarks Mortgage Loan or refinance.  Give me a call at (573) 746-7211 or send me an email at mlasson@fsbfinancial.com with any questions you may have!!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Sr. Residential Mortgage Lender

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

NMLS #: 493712

Positive Signs in the Current Economy

There continue to be some optimistic signs in parts of our economy, specifically with the housing sector last month. Here are some indicators that the Housing Market is in good shape and it is a good time to consider purchasing a Lake of the Ozarks Home!!

• Existing Home Sales rose in May to reach the highest rate since November 2009. Housing Starts also rose by 7 percent in May to come in a whopping 28 percent higher than May 2012. 
• In other housing news, RealtyTrac reported that foreclosures rose by 2 percent in May from April. But the good news is that foreclosures have fallen 28 percent from where they were just one year ago. 
• The economy as a whole also received some good news last month. Standard & Poor's, one of the big three credit-rating agencies, raised the credit outlook for the U.S. from negative to stable. The manufacturing sector also received a boost of good news, as both the Philadelphia Fed Index and the New York State Empire Manufacturing Index came in well above expectations. And, consumers felt confident enough to open their wallets in May, as Retail Sales rose at the fastest pace in three months, led by demand for groceries, autos and building materials. 
• Although inflation at the wholesale level rose unexpectedly in May, inflation at the consumer level remains tame and overall inflation pressures remain muted, which should help keep Bonds and Lake of the Ozarks Home Loan rates at attractive levels. 
• Another factor that has helped Bonds and home loan rates remain attractive is the Fed's Bond purchase program (known as Quantitative Easing). Fed Chairman Ben Bernanke did say the Fed may begin tapering the program later this year and to finish by mid-2014. So this will be an important story to keep an eye on as economic news comes in over the next several weeks and months. 

The bottom line is that home loan rates remain attractive and now is a great time to consider a home purchase or refinance. Let me know if I can answer any questions at all for you or someone you know.

What Documents do I need to Apply for a Mortgage Loan??

The loan process can cause a little anxiety for home buyers that are excited to purchase their home.  The best way to help your Mortgage Lender finalize your loan quickly is to provide all of the pertinent documents needed to verify your information.  

Please keep in mind that some documents may not apply to you or may be difficult to provide.  If you have questions about these items, or have trouble collecting them, please contact me so that I can assist you in this process. 

1. Current driver’s license or photo ID
2. Copy of the trust papers if you want the property held in a trust. 
3. Copy of accepted contract signed by purchasers and sellers, copy of earnest money check
4. Check for $395.00 for application fee (covers appraisal and credit reports fees).  Please make the check payable to First State Bank Mortgage.  With pre-approvals, there is no money collected upfront.
5. Present employer’s name, address and phone number.  Length of employment, position and salary. If employed less than two years, please provide previous employer’s name, address and phone number to cover two consecutive years.  Exact dates are required.
6. Most recent two years W-2
7. Current pay check stub reflecting year-to-date income of 30 days or more.
8. If self-employed or paid any commission or have any business income, please bring complete copies of your federal tax returns along with all schedules and W-2s for the past two years.  Include corporate or partnership returns, if applicable, for your business.  Also include a year-to-date P & L statement.
9. Evidence of child support payments for the last 12 months, if applicable, along with divorce decree and court order for child support payment and alimony.
10. Verification of other income needed to qualify, such as retirement, rental, interest or dividend income.  If receiving Social Security or pension income, please bring current awards letter.
11. If applying for MHDC grant, the past three years’ federal tax returns are required.
12. Last two months’ bank statements for all accounts.  Please provide explanations of any deposits larger than normal paycheck.
13. If you have a property for sale, please bring the accepted offer to purchase or copy of listing contract.
14. If you own investment properties, please provide address, name of mortgage lender, mortgage statement and lease agreement on properties.
15. Divorce decree order or any financial obligation incurred through a court order, if applicable.
16. If any judgments or bankruptcy has been filed, please supply a copy of the judgment or bankruptcy discharge and petition.  Also, furnish a letter of explanation of the same.
17. For a VA Loan, please provide a certificate of eligibility and a copy of DD 214. 

If you have any trouble getting the documents that are mentioned above or if you have questions about the loan process, please call me for help!!  I enjoy helping people work through the loan process and want to make it as simple and pain-free as possible!!

For resources and tips on financial services, please 
LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson
Sr. Residential Mortgage Lender

2140 Bagnell Dam Blvd, Suite 303B
Lake Ozark, MO 65049
Direct:  (573) 746-7211
Cell: (573) 216-7258

Fax:(573) 693-9141
Email:  mlasson@fsbfinancial.com
NMLS #: 493712

The Borrower's 10 Commandments for a Smooth Loan Process!

Congratulations if you have finally found your dream home!!  One of the next steps is applying for your mortgage loan.   This is an ongoing process and there are a few "dos" and "don'ts" that can play a huge factor in how smooth this process will be.  

Now, I can't promise everything will be perfect, but I can tell you that if you follow these simple "10 Commandments", your loan process will be much easier!!

The Borrow's Ten Commandments

1. Thou shall postpone any career moves until after your closing.  If at all possible, try not to make a career move during the time between your mortgage application and the closing on the home you are purchasing. One of the factors mortgage companies consider is the length of the present employment; they are partial to stability.
2. Thou shalt not apply for new credit.  Why not? Because applying for new credit changes what is called “debt-to-income ratios” (the relationship of your income to your debt). This could impact your ability to qualify for your mortgage loan and may initiate a new round of paperwork. 
3. Thou shalt not incur new debt such as purchasing or leasing a new vehicle. This should go under the general heading of “no new debt.” As with any debt, this will change your “debt-to-income ratios” and may cause you not to qualify for your mortgage.
4. Thou shalt not charge up your credit card balances.
5. Thou shalt not make a very large deposit or withdrawal from your bank account.
6. Thou shalt not change your mind after locking a rate.
7. Thou shalt not co-sign for someone else’s loan.
8. Thou shalt not spend your down payment money.
9. Keep holy thy closing date and paperwork.  Please try to schedule vacations for AFTER your closing date. If you have started packing for a move, remember to keep out any bank statements,  tax returns, or other important paperwork. 
10. Thou shalt not file for divorce prior to closing.  I know this is a sensitive subject, but filing for divorce affects your marital status in a court of law and this change of status may sometimes complicate the process when paperwork is being finalized.

If you have questions about any of the “Borrower’s Ten Commandments,” please call me.

For resources and tips on financial services, please 
LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn


Michael Lasson
Sr. Residential Mortgage Lender

2140 Bagnell Dam Blvd, Suite 303B
Lake Ozark, MO 65049
Direct:  (573) 746-7211
Cell: (573) 216-7258

Fax:(573) 693-9141
Email:  mlasson@fsbfinancial.com
NMLS #: 493712

Welcome to My Blog

Hi, I'm Michael Lasson and welcome to my first blog!  I decided to start blogging as another way to provide superior home financing solutions and resources for the Lake Area.  I hope that you will subscribe and comment to my weekly blog - your feedback is important to me!

I am married to Michelle and between us we have 6 children. Michelle is the best thing that ever happened to me and my boys and we have enjoyed 16 wonderful years together.  Family is very important to me - I truly enjoy being a husband, father, a brother, a son and an Uncle.  And in the past year, I have been blessed to experience the role of Grandpa!!


I believe I have the best job possible! I work for First State Bank as a Senior Residential Mortgage Lender and I get to assist people with the financing or refinancing of real estate property. I have assisted many buyers in financing a Lake of the Ozarks Second Home or Vacation home.  It is a pleasure to help people in this process.

I have built a strong reputation as a trusted, established local mortgage lender, serving the lending needs of real estate professionals, builders and individual home buyers in the communities we serve. I have access to a full range of mortgage sources and I am dedicated to finding the right loan to meet your unique needs ... with the best rates, terms and costs.  Lending decisions are made locally and underwriting is done in-house, so you know you can reach me quickly with questions about your loan process.

When it comes to your financing needs, I'm committed to working with you every step of the way. I'll discuss financing options, offer competitive interest rates and back it up with the FIRST Class Service you deserve...I guarantee it!!

For resources and tips on financial services, please 
LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn


Michael Lasson
Sr. Residential Mortgage Lender

2140 Bagnell Dam Blvd, Suite 303B
Lake Ozark, MO 65049
Direct:  (573) 746-7211
Cell: (573) 216-7258

Fax:(573) 693-9141
Email:  mlasson@fsbfinancial.com
NMLS #: 493712