….just post a link to something else without relevent comment and something value-added. But this said it all. And it’s Friday. And someone just fired up the blender in the kitchen…..
http://www.themortgagereports.com/2008/05/the-first-ever.html
 Cheers!
Share This
Mortgage Industry Professionals. Like what you see?SUBSCRIBE for free by RSS or email, and never miss a post!

[Read more →]

….than be associated with a sleazy lending practice. As I’m sure all of us would. So I kind of gagged when Ken Clayton, counsel for the American Bankers’ Association (ABA) claimed that credit card issuers are more consumer-friendly and don’t deserve the same scrutiny applied to mortgage lenders. “Credit cards are a highly regulated industry,” […]

[Read more →]

New legislation that will enable the government to finance $300 billion of troubled mortgages was just approved by the House of Representatives Financial Services Committee. It includes a mandate to FHA to guarantee loans on properties that have declined in value since the mortgage was taken out.
OK, we’re talking about properties with “distressed” mortgages, […]

[Read more →]

Real estate and mortgage, especially in niches or in smaller towns can get really entangled — almost incestuous at times. We all know each other, we refer back and forth, and sometimes it seems like there are too many professionals at too small a trough. Most real estate agents know that LOs need to work […]

[Read more →]

Chris Isidore, CNNMoney.com senior writer is confused. In his overheated article The Trillion Dollar Mortgage Time Bomb he claims that Fannie Mae and Freddie Mac “back” loans when in fact they serve as clearinghouses. “Backing” implies some sort of insurance or guarantee, like FHA’s. Additionally, he claims that conforming loans are characterized by “large down […]

[Read more →]

Just finished reading Tony Gallegos’ post (recommended by Todd) and it is good. Loan officers can benefit hugely by adapting a relationship-based business model rather than a transactional one. But what happens when you have spent your career doing just that and then the basis for your carefully nurtured relationships goes away?
This isn’t a hypothetical […]

[Read more →]

While the Bush administration is talking up its mortgage rescue operations for delinquent borrowers, a New York Times article implies that the cash-strapped agency may not be able to pony up. For the first time in its history the Federal Housing Authority faces a deficit, primarily due to defaults on loans featuring seller-financed down payments. […]

[Read more →]