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AJ Barkley headshot AJ Barkley is the Neighborhood and Community Lending Executive at Bank of America, where she identifies opportunities to drive responsible lending among low- and moderate-income borrowers, underserved communities, and multicultural borrowers across the economic spectrum.  In her role, she is accountable for the end to end process, strategy through execution, for the company’s Community Reinvestment Act (CRA) commitment and fair lending laws and regulations for home loans, small business, and vehicle lending. She is also responsible for relationship deepening with multicultural, first-time homebuyers and low- and moderate-income consumers through strategic alignment with nonprofits, community advocacy groups, real estate professional organizations including homebuilders, and other key industry leaders.   
Most recently, AJ served as the bank’s interim Retail Sales East Executive, leading an organization of more than 2,000 employees who assist the bank’s Retail, Preferred and Global Wealth Management clients with their borrowing and banking needs, including mortgage, home equity, credit card, deposit and checking accounts. She also led the National Sales Operations and Optimization organization for Retail Sales, focusing on driving strategic initiatives.   
Additionally, AJ was the Production Executive for the Plano Centralized and Online Consumer Lending Sales Division, where she led more than 140 lending officers and had national responsibility for employee lending, training redesign and employee engagement. She also was the Merrill Lynch Associate Market Executive in Global Wealth Investments Management in Dallas, TX, and held multiple roles in Consumer Banking, including Area Executive for the DFW Metro Market, encompassing more than 140 Financial Centers.   
A native of Temple Hills, Maryland, AJ is a graduate of Morgan State University.  She holds a Bachelor of Science degree in Marketing and is a member of Delta Sigma Theta Sorority, Inc.    
AJ is the Co-Executive Sponsor of the Black Professional Group of North Texas and active in multiple employee networks.  She is committed to supporting the community and serves on the nonprofit board for Trinity Park Conservancy. Her passion is supporting organizations that empower and improve opportunities for children and young adults.   She and her husband have two sons, three daughters and four grandchildren.  

Posted On Monday, 11 April 2022 00:00 Written by

After more than a year if getting fiscal policy completely wrong and just making up stories about the economy, it seems the FED members all want the microphone and to share their opinions on how they are going to “fix” the very problem they created! Every time one of them speaks, the bond market loses its mind and tries to figure out what they are saying, and this creates wild movement, all pushing rates higher. As we have been saying here for quite some time, if you like it, LOCK IT!

That said, it all goes back to PAYMENTS and how we can best help our clients maximize their borrowing power by helping them get into the best possible position to buy, even if rates and prices are going higher!

  1. 1. CREDIT! Credit is at the root of the cost of money, PMI, and insurance. Even just a modest improvement in a credit score can result in a significant improvement in borrowing power! Remember that according to Experian® the average credit score in the country is now 714.
  2. 2. CASH! While it may be taking weeks and months for people to improve their credit or find a home; they can be banking cash. They may even consider adding a part time job or two and bank the cash to either increase their offer, payoff debt to improve their ability to use their DTI for mortgage payments, increasing the amount they can borrow.
  3. 3. PMI! LTV and the use of single pay premiums can also help make the payment work!

While we wait and see how the actions of the FED impact the markets, we must deal with their words by using strategies that will make the payments work. Until then, we can just hope that the FED can just shut up until they actually DO SOMETHING!

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Posted On Monday, 11 April 2022 00:00 Written by
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