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 […]

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Taking a page out of last week’s Dead Until I Do Something, I thought it appropriate to do something. 
Twenty-Minute Video
If you click the above video, then you’ll learn two things:
1) I talk about Lenderama in my sleep
2) There’s no easier way to build 100 referral partners in thirty-days for free
Today’s struggling real estate market presents […]

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I am overwhelmed by the addition of all of this new talent on Lenderama.  This is really a credit to Todd and the opportunity he has given us to be a voice at a time when the mortgage/real estate industry needs us the most.  I’d like to suggest a proposal and am looking for comments […]

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Fellow Mortgage Brokers,
Please take two seconds to sign the petition below to keep YSP and report in the comments section what # you were.
To: U.S. Senator Jon Kyl, U. S. John McCain, President George W. Bush, U. S. Rep Harry E Mitchell
We want to express our opposition to H.R. Bill 3915. We believe it […]

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Ninety percent of this business is about showing up. Showing up on time. Returning that call on time. Being on time. My company logo is the Minuteman, named after the Massachusetts minuteman law of 1645, which required “every company commander to have 30% of his unit ready with full packs, ammunition, […]

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Everyone always overreacts. The housing frenzy gets carried away one way…and then the other. Many buyers are sitting on the sidelines watching and waiting to see when the bottom hits, but of course, we learn when that was after the fact.
Don’t confuse this author with someone slinging NAR propaganda. I’m more along […]

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Today the laws for mortgage brokering and lending in the great state of Florida were changed. Chapter 494 F.S. was amended and penalties of $5,000 per offense were added for violations beginning October 1, 2007. There are a number of changes regarding disclosure and other procedures. I’m not going to write about all of the […]

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