Hey, what’s going on in Lenderamaland?  Wake up!
Ok, now that I have your attention.  Let me tell you what the call capture companies don’t want you to know. 
You know how call capture works; you’re assigned an 800# that is owned by the call capture company and you pay a monthly fee plus a per-minute fee […]

[Read more →]

Fannie Mae is now accepting comments on Major Appraisal Changes:
To help enhance the integrity of the home appraisal process in the mortgage finance industry, Fannie Mae has entered into an agreement with our regulator – the Office of Federal Housing Enterprise Oversight (OFHEO) – and the New York Attorney General’s office, to adopt a Home […]

[Read more →]

Too many people in business don’t want to help someone else out unless there’s something in it for them.  I don’t agree with that philosophy.  As a matter of fact, there’s a proverb that says “there is that scattereth, and yet increaseth; and [there is] that withholdeth more than is meet, but [it tendeth] to […]

[Read more →]

I believe it’s healthy to take a step outside and perhaps even laugh at ourselves so as not to be caught up in our own pride. Let’s face it; we are where we are. It’s time to fess up, identify it, and move forward.
Citigroup’s expected to announce a $24 Billion write down this […]

[Read more →]

From Friday after 5PM through Sunday night I received ten call capture pages.  I set eight appointments out of ten.  One was a curious neighbor (not a buyer) and another was too chicken (guessing) to answer the phone or return the message I promptly left.  Eight out of ten is phenomenal, but it’s not the […]

[Read more →]

A couple years ago, one of my LOs asked me to sign up with an investor funding foreclosure bailouts at ridiculously high LTVs.  The company was called FundingForeclosures.com.  Here’s what their site looked like at the time.
I thought it sounded too good to be true, so I passed.  I’m thankful for that.  Let’s check out […]

[Read more →]

Here is an excerpt from Senator Dodd’s proposal (page 15 of S. 2452):
“NO YIELD SPREAD PREMIUMS. - No person may provide, and no mortgage originator may receive, directly or indirectly, any compensation for originating a home mortgage loan that is more costly than that for which the consumer qualifies, or that is based on, or […]

[Read more →]