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June 1st, 2020 12:39 PM
I do not time the market. And it is 1st day of the month again. Seems like no good stocks to purchase. I will get some T. At least the dividend ratio is still over 6%.

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Posted by Eric Fang on June 1st, 2020 12:39 PMLeave a Comment

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May 30th, 2020 11:43 AM
This year is so different. First, the CoronaVirus changed everybody's life. People can not tarvel, and we can only work from home, kids can not go to school, and stocks crashed and the recovered the most of it. And the interest rate is lower again, got very busy most of the time. But still we have to balance our life.

The past week was the last week of May, so I know I would be busy since the lenders would (have to) fund lots of loans the end of the month. It was ok, i only funded 9 loans. But it got me very nervous. So I ran a half marathon last Monday(Holiday), and did not run anything at all from Tuesday to Thursday, just wait for the emails from the funder, the escrow officer and the borrower to confirm the employment was ok. And I got relaxed Friday, so ran another half marathon yesterday. And finished another half this morning. The finish time for the three halves were: 2:07:45(Slow ), 1:55:44 (Friday), 1:53:55(Saturday). Plan to run another one tomorrow. Hopefully it will be under 1:50. Not the fastest(my fastest was around 1:33), but it is ok since I was so busy, and ran 4 halves in a week.

Glad to finish another book during the week. I know I was so busy and tired, but the reading calms me down, and I can sleep very well after the readings. Finished the book: The Infamous Emperors - The Story of the Roman People vol. VII. And Will start the new book this week: Crisis and Conquest - The Story of the Roman People vol. VIII. Still on the track to finish the 15 books by the end of July.

Wow. Locked more than 10 loans last week. Have to work more loans this weekend and will get them locked in around 2 weeks. But I still prefer more to reading than the books. I know you think I am just kidding. But that's my true feeling.

Yesterday I talked to one of my friends about my investment, and I told her I am investing like a machine now. Next Monday will be the day to purchase a stock a fund. I remembered that purchased WORK May 1st. Should I add more positions or just QQQ? That's a good question. I will let the market decide Monday.

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Posted by Eric Fang on May 30th, 2020 11:43 AMLeave a Comment

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This normal might be abnormal to some people. Basically, running, working and reading.

Finally finished reading the book: The Story of the Roman People vol. VI. I am so glad that I finish 6 of the 15 volumes. Reading is very similar to the running, once you stepped out of the door, the rest would be easy.

The interest rates are improving. Locked 6 loans today, plan to lock another 6. I am not young any more, that's why I paced my work load pretty well. About 10 years ago, my record was "locked" 21 loans in one day.

But starting today, I plan to run 50 to 70 half marathons this year, until we can race marathons again. Here is my first one this morning, the finish time is 1:46:58.



LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal

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Posted by Eric Fang on May 21st, 2020 10:31 PMLeave a Comment

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May 19th, 2020 1:00 PM
Struggled with the running recently. It was not that I could not run. I think the main reason was the schedule. 

For the morning time, I normally focused the funding of the loans. So I would send out emails to make sure the borrower stays on the job, and would get the insurance updated to get it prepared for the funding. So then I decided to run in the afternoon and evenings. But normally I could not do it since I felt tired by then.

The stock market is crazy. Sold half of my NVDA holdings. Planned to sell FB, but it went up another 2.5%. So I would wait a little bit more.

Here are the running splits for today, not bad. Will run a half marathon Thursday.



LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal

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Posted by Eric Fang on May 19th, 2020 1:00 PMLeave a Comment

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May 7th, 2020 9:54 AM
Reading is like running. The first step is to tie the shoes and walk out of the door. For the reading, it is good just to start, whether you can understand or not.

I planned to read 15 volumes of  The Story of the Roman People by Nanami Shiono a few years ago. I could not even finish the volume I. Then I started to read the brief history of European, and understood some basics, and this time it is getting better. And at least I finished Volume IV. I know I can finish it in June.

Purchased 400 shares of WORK last Friday, and it went up around 16% since then, I kicked myself for not purchasing more. Then I thought I did it right since my strategy was to get some share beginning of the each money to average down the risks.

Ran 10 more miles today, It was about 15 seconds slower than yesterday. But that was right, since my heart rate was about the same. So my body felt that I was tired this morning. We need to listen to our body. Here are the paces:



LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal

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Posted by Eric Fang on May 7th, 2020 9:54 AMLeave a Comment

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May 6th, 2020 4:20 PM
Finished another good run this morning for 10 miles. I think I can still run 3:20 marathons once the marathon season is back. Here are the paces:



LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal

Finished The Story of the Roman People vol. IV this morning. Can not read Roman series all the time. I have to switch to another book after finishing one. So I started: WHO ARE WE? today.

It is actually a very good book. It talked about the American Identity. The first story went back to soccer game in LA in 1998. The game was between USA and Mexico. And a guy was booed just because he brought a US flag, and yes by by the Mexicans in the US. It talked about the origins of WASP, the civilization activities, the co-exist of the Latin culture and US Western culture etc.Just started.

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Posted by Eric Fang on May 6th, 2020 4:20 PMLeave a Comment

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May 5th, 2020 11:42 AM
Last two weeks were the busiest two weeks for me.I closed 13 loans during the two weeks. Thought the funding process was slow, but at least we are closing. And I closed 4 more loans this week.

I did not run yesterday since I planned to focus on the funding, and then ran 10 miles today, and the pace was good. I had 6 miles with pace around 8 minutes per mile. Since I do not have race within the next 6 months, the pace was not bad.

Submitted 7 loans within the last 2 days, and originated two more yesterday. Sometimes, I think 2 loans per week is perfect, so I do not have to be too busy, and have enough time for the reading.

Plan to finish 15 volumes of "The Story of the Roman People" by the end of next month. I finished volume III, and completed 1/3rd of Volume IV. I am happy with the life for more reading. Check my reading list this year:

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April 29th, 2020 1:07 PM
I locked two loans for my clients. I recommended them to lock for two reasons, 1)They have 3.5% to 3.625% rate. So One person saved $650, another $350 per month.  2)If we miss this opportunity, then we might need to wait for another two months.

And once you have 3% for 30 yr fixed rates(APR 3%), then you do not have to worry about whether the rate is going to higher or lower in the future.

Stock market is crazy now. For one of my accounts, the YTD return is even positive now. One lesson I learnt was that you have to pick up good company stocks. they recovered back so fast.

Ran another 7 miles today. Really enjoyed the running. Not too fast, not too slow.

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April 28th, 2020 12:25 PM
CA will extend the shelter in place for another month. What does that mean for the mortgage rates? It might be a little bit better, but we still can not change the fact that the whole industry still are short of hands, and short of liquidity assets.

My life changed a little bit. I locked over 20 loans for only 2 days beginning of March. Then I could not lock the rate any more. After that, I only locked one loan for purchase , another for 15 yr fixed 2.875%. I was a little bit frustrated because I could not lock the rate(The rate went up higher, and also the lender only allowed us to lock the rate when the loan approved). Then on the other hand, I was happy that I could not lock loans since otherwise my life quality would be much worse(I had to work extended hours, it is not good for health), and also borrowers would not be happy because the shelter in place.

April would be the first month that I could finish reading for more than 10 books. It is a big accomplishment for me. I really enjoyed the reading and hope to read more and more.

My San Francisco Marathon postponed to Nov 15th. That might be my first marathon this year. I will take it easy for this one.

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April 27th, 2020 10:06 AM
It was a very productive week of last week. Finished running 53 miles, though it is a little bit slow, but it was good since I do not know when the next race would be. The link for the running blog is here. 

I am so glad that I finished Volume II of The Story of the Roman People. The total volumes for the book series is 15. I am glad that I can finish volume II. And it the rate does not improve in the next two months, I would finish them all. 

Berlin Marathon was cancelled this year. I know I did not have any plan for major marathons this year. Still very sad that those great marathons could not take place. I think people will appreciate more of the races next year. Yes, I will register more and put a list some time this week.

The rate did not improve today. Let's keep funding the loans, and keep reading. This week's plan was to finish:  A Victor in Disarray - The Story of the Roman People vol. III.

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April 24th, 2020 10:00 AM
The rates are getting better. We should see the targeted rates around end of May.

Finished running 8 miles today. Felt so good. And surprisingly, I lost a few pounds. I think I will enjoy the race when the race season is back.

Mountain to Beach Marathon race director emailed me back that I can defer this year's race to next year. And Mesa Falls Marathon will let me know mid of July. San Francisco Marathon said that we will not cancel until you hear from us later. And I hope Coronavirus pandemic will be gone soon. I told my wife that we should be ok sometime in July She said that we are too optimistic.

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Posted by Eric Fang on April 24th, 2020 10:00 AMLeave a Comment

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I know it sounds like crazy. But I indeed finished on Saturday. The finish time is 4:19:59. It was not perfect. But it is good enough.

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Posted by Eric Fang on April 20th, 2020 12:36 PMLeave a Comment

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April 17th, 2020 9:31 AM
The nation's largest bank is temporarily reducing its exposure to the mortgage market amid rising unemployment and estimates that home prices could drop by 10%.

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Posted by Eric Fang on April 17th, 2020 9:31 AMLeave a Comment

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I finished 8 miles today. Total 22 miles for this week. Here is the link

My mile 4 & 5 was ok, the pace was 7:43 and 7:55. Then I thought whether I need to keep the pace for the next two miles, or just a little bit slower. And as you guessed, I started a little bit slower. So mile 6 at 8:22, Mile 7 8:36, mile 8 8:53. The reason mainly was that I have another tempo run of 6 miles tomorrow. I do not have to run too fast, and instead need to focus on my schedule.

Same for the other stuff, like reading and investment. I manage my wife's retirement account for her. And promised her for total 50% return for the next 5 years. As of yesterday, it was almost break even for this year. What I did right was that I liquidated last year, and gradually purchased when the market was down. It was not perfect, but still better than expected. And my idea was to purchase 5%, 10%, 20%, 30% down. And now, I do not much cash in this account now.

Same for the other accounts, I would assume that the market will go down another 20%(just assume, it could be or not). Then I would split my money (other than cash) into 4, and will purchase more if the market is 5% down or more. Then I would wait for the rebound. I could be right or wrong. But if we check it 10 years later, any purchase would be right. 

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Posted by Eric Fang on April 15th, 2020 10:22 AMLeave a Comment

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April 14th, 2020 10:53 AM

Wells Fargo, the largest lender and servicer in the nation, originated $48.0 billion of home mortgages in the first quarter, a sequential decline of 20.0%, according to results released before the opening bell Tuesday.

On the servicing front the news was grim. Wells revealed that its massive residential servicing portfolio declined in value by 29.4% from the prior period: $8.13 billion at March 31 compared to $11.52 billion at yearend.


In its first quarter earnings statement, Wells noted that to date, it has deferred payments for 1.3 million consumer and small business customers, a universe that includes residential mortgagors.

Meanwhile, JPMorgan Chase, one of Wells’ closest competitors, reported $28.1 billion in new originations during the quarter, a sequential drop of 15.6%. Its retail/correspondent balance was almost equal at $14.1 billion to $14.0 billion, respectively.

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April 10th, 2020 11:44 AM
The demand would be strong this year(after ConoraVirus):
1)Low Mortgage Rates
2)High demand from Millennials
3)Low Inventory
4)New construction will boom.

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Posted by Eric Fang on April 10th, 2020 11:44 AMLeave a Comment

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April 9th, 2020 1:13 PM
Got the news from some lenders. They will improve the rates from the current level. But not sure whether it will go as low as the beginning of March. Let's wait and see. 

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Posted by Eric Fang on April 9th, 2020 1:13 PMLeave a Comment

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Lenders might not get you loan if you have  forbearance with mortgage lenders.
 Right now, lender will ask the following questions:

1) Are you still employed as stated on the loan application? 

2) Have you experienced a reduction in income since completing the loan application?

3) Do you still have the ability and intent to make the mortgage payments required under this transaction?

4) Are you currently under any forbearance agreement on any mortgage?

5) Have you applied for forbearance from any mortgage payments? 

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Posted by Eric Fang on April 8th, 2020 1:19 PMLeave a Comment

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I still close a lot of loans every month. But I do not work too hard till 1am or 2am as I did 10 years ago. I know it is not good health if I continue to do so. And 10 years later, if I reflected how hard I worked on the loans, I would regret the time I spent on "making" the money.

Sometimes, we would think how enough is enough. How much money is enough for our daily needs, how much food we need to consume, and how important is the readings, travel in our daily life.

Recently, I found it was very interesting for more readings. 1)We do not understand when we read some books. We are not familiar with the subject, or the person names, etc. Or we could not even remember what we read. 2)If I had the time and read the books the second time or third time, you will find that your reading is so different. Mainly that's because you understand more and have those dots connected.

And now I am reading some books which I do not understand at all. Sometimes, I think it is good that we can remember some basics.
A few days ago, we I read the book : Educated: A memoir. The author had a class in Cambridge, and they learnt "positive freedom" and "negative freedom". And I am so proud that I knew this was from Isaiah Berlin. Then I realized that more readings do help me understand more.

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Posted by Eric Fang on April 7th, 2020 6:10 PMLeave a Comment

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Glad to run 8 miles today, so far I finished 52 miles for the week.
See the blog here for the detail:;postID=8056453157255688476;onPublishedMenu=allposts;onClosedMenu=allposts;postNum=0;src=postname

Finished two books: Man's Search for Meaning & Educated: A Memoir.
Plan to have a the reading list for the next a few months. More on European Histories.

The Details would be here:

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Posted by Eric Fang on April 5th, 2020 6:38 PMLeave a Comment

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Here are the training details. The only change is that I have to finish the speed workout on the road, instead of the tracks.

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Posted by Eric Fang on April 4th, 2020 10:54 AMLeave a Comment

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Please check the rates here for the next 15 days:

And I am accepting loan applications for 15 yr fixed 2.75% for loan amount less than 510k; 2.875% for loan amount below $765k.

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Posted by Eric Fang on April 3rd, 2020 5:53 PMLeave a Comment

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Hopefully none of my clients would use. But in case you know anyone who has difficulty to make mortgage payments. Here are the details:

The Coronavirus has impacted millions of Americans across the country due to job loss and furloughs making it difficult, and sometimes impossible, for homeowners to make their mortgage payments.

The U.S. government has stepped in to offer homeowners financial relief during this unprecedented time with the Coronavirus Aid, Relief, and Economic Security (CARES) Act. With this new Act, government-sponsored agencies such as Fannie Mae and Freddie Mac will offer forbearance agreements with protections for those homeowners in need.

What is a forbearance? A forbearance is an agreement between a homeowner and their mortgage servicer (to whom they send their mortgage payments) to suspend payments for a period of time. The homeowner does not incur late fees or other penalties during the forbearance.

Additionally, mortgage terms are unchanged, and the homeowner agrees to make up the accrued interest and payments in the future. Typically, a forbearance will affect a homeowner's credit rating, however, there are a few differences in forbearances during COVID-19 which can be found on the Fannie Mae and Freddie Mac websites.

Loan servicers have been instructed to provide mortgage relief options which include:
  • Ensuring payment relief by providing forbearance for up to 12 months.
  • Waiving assessments of penalties or late fees.
  • Halting of foreclosures and evictions of borrowers living in homes owned by the mortgage servicer until at least May 17, 2020 (Freddie Mac).
  • Suspending the reporting to credit bureaus of past due payments of those in forbearance due to the COVID-19 emergency.
  • Offering loan modifications for payment relief to keep mortgage payments the same after the forbearance period.
  • Borrowers are eligible regardless of whether their property is an investment, second home, or owner-occupied.

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Posted by Eric Fang on April 3rd, 2020 11:34 AMLeave a Comment

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April 3rd, 2020 10:02 AM
My mortgage business is on hold. It is a surprise and at the mean time expected. Who wants to refinance at this time of the Coronavirus? So let's be patient.

Read 90 pages of the book: Educated: a Memoir. I know I would finish it by today. And will find another good book this week. The business is slow, but it is good time for the reading. I just finished reading the "dummy" book of European History, and the next step would be to get a few more good books.

Finished 6 miles again today, still slow. I might need to get Gel before the run. May need it tomorrow since I have 10 miles on the schedule.

My wife was surprised that we life goes as normal, never affected by the CoronaVirus. I might be dumb, it is still a virus. So that's why I am always on alert, keep the social distance with others, but still go out for the running, walk the dog etc.

And I called Vanguard to place another SP Index fund trade. Yes, not bad time to average down. If your time frame is 20 years, who cares about the current market. 

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Posted by Eric Fang on April 3rd, 2020 10:02 AMLeave a Comment

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Ran 6 miles yesterday and another 6 miles today. The pace was slower. I would have to listen to the body.

Got up at 6am now. I felt so good, so I can read the books from 6am to 7am, then sip a cup of coffee and read the books. Then go out for the running for an hour.

So far, I finished 68 pages of Man's Search for Meaning. And 208 pages of Educated: A Memoir. Everything is on the track. One thing I would add to my schedule is the ABS workout. Maybe 3 times a week?

Sometimes we tried to change the world, and most of the times, we could not. We can call it fate. We will just follow the nature of the world.

Keep running, keep reading and keep working. Most importantly, keep positive.

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Posted by Eric Fang on April 2nd, 2020 11:05 AMLeave a Comment

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March 31st, 2020 12:52 PM
I plan to have a "normal" life starting tomorrow. I do not know how long it will last, but I will try my best(Do not want to write on tomorrow's blog, and it seems like April Fools).

Finished running another 10 miles today. Then started working on the loans. And it was done by 12pm.

I finished Chap 18 of the book: Educated a Memoir. It has three parts. Part I: Her life at Idaho. So it focused on her dad, mom, and brothers, and also her grand parents. Basically her whole life as a Mormon at Idaho. And her home schooling, and her struggles, and how he got admitted at BYU(Brigham Young University). Part II: Her life at BYU. Part III: her life at Cambridge, and her conflicts with her family.

I plan to read 20 pages of this book until it is completed, and 20 pages of : Man's Search for Meaning. Let's start today.

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Posted by Eric Fang on March 31st, 2020 12:52 PMLeave a Comment

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If your tenants lost the job or your business affected by the Corona Virus, The government will help you. You can apply for a low rate business loan.

Good afternoon, All.


The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law by President Trump. 


1.  Loans and Grants


There are provisions for grants and loans for business owners and likely landlords in affected areas of the COVID-19 pandemic. 

One program is the SBA Economic Injury Disaster Loans (EIDL).   

-  Loans up to $2 million.

-  Loan terms are 30 years at 3.75% rate (lower rate for 501(c)(3) non-profit organizations).

-  Payments deferred for 12 months.

-  No prepayment penalty.

-  Funds are to be used for working capital needs.

-  From the preliminary information, up to $10,000 may be a grant.

-  For rental losses, the state has to make the application to the federal government.  It is expected all states will apply.

See the following link to see how to apply for free:

Select “Economic Injury” in the application.

These loans will take weeks to process.  Start soon!  

The SBA will likely be overloaded by the applications, which supposedly will be processed on the first-come-first-served basis.  Be prepared.  Submit a complete package.  See the instructions on the website.


2.  Employee Retention Tax Credit (ERTC)

For employers, this will be a payroll tax credit for employee retention. 

This is part of the preliminary details for the ERTC:

*  The credit is refundable (meaning if the credit fully offsets the payroll tax liabilities, the employer will still get a refund for the overage amount of credit).

*  Applicable for all wages paid between March 12, 2020, and before January 1, 2021.

*  Computed on a calendar-quarter basis.

*  Equals 50 percent of qualified wages up to $10,000 paid to each employee or $5,000 in actual credit.

*  Eligibility for the credit begins with the first 2020 calendar quarter in which the employer’s gross receipts declined by greater than 50 percent of the corresponding calendar quarter of the prior year, and ends with the calendar quarter following the calendar quarter in which the gross receipts exceed 80 percent of the corresponding calendar quarter of the prior year.

*  For the purpose of computing the credit, qualified wages paid to an employee during the relevant period may not exceed an amount that would have been paid to such an employee within the preceding 30 days.

*  Any eligible employer may elect out of the credit.

*  NOT available to Federal or state employers.

*  Available to organizations exempt under section 501(c) of the Internal Revenue Code.

*  This credit will NOT be available to any eligible employer that receives a loan under the Small Business Administration program pursuant to section 7(a) of the Small Business Act.

*  Any employer that fails to pay the relevant payroll taxes based on reasonable anticipation of the credit may be relieved of penalties under Section 6656 of the Code.


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Posted by Eric Fang on March 29th, 2020 4:39 PMLeave a Comment

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March 29th, 2020 4:07 PM
Just got an email from the lender that they suspended ARM programs,
mainly because of the liquidity issue from the financial markets.
So basically no good rates for ARM for some time. And for the next a few months, we can only do fixed loans.

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Posted by Eric Fang on March 29th, 2020 4:07 PMLeave a Comment

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March 29th, 2020 2:20 PM

Just want to share a quote from Ralph Waldo Emerson: “When it is dark enough, you can see the stars.”

The Corona Virus positive cases skyrocketed over night. It was not because it spreads faster, or out of control. It was just because more people were tested. And once more people keep the social distance, everything would be under control. And the whole situation will improve.

I remembered two years ago, the wild fire got worse and worse, and finally I had to order one box of the face mask from Amazon. And when it arrived, the wild fire stopped.

I hope the same thing happens this year. I ordered some masks yesterday, and I wish the Corona Virus would be under control once it arrives. We are in the middle of the tunnel, and if we just keep going forward, we will see the light soon.

Finished another 6 miles today. And I added 3 marathons(Berlin, Chicago, CIM) in my running blog:

Will keep running, and stay healthy and positive.

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Posted by Eric Fang on March 29th, 2020 2:20 PMLeave a Comment

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March 28th, 2020 9:08 PM
Another month is almost over. I still did not run a marathon this year. I know it is unusual. I did not run LA Marathon in March. And Mountain to Beach Marathon in May was cancelled. And my first marathon this year will be SF Marathon end of July. And I hope this will not be cancelled. And by the time, Corona Virus should be gone.

I ran almost 6 miles every day, except 10 miles today. The pace was good. At least I can run 3:35 marathons again. I know I will keep running. This is part of me. And part of my life.



LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal

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Posted by Eric Fang on March 28th, 2020 9:08 PMLeave a Comment

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