Bank of America CEO: Private Investment Returning To Mortgage Market Is A Certainty

Brian Moynihan, Bank of America's chief executive officer, said that everyone involved in the housing market needs to reset their expectation that everyone can own a home. In remarks prepared for delivery at the Brookings Institution in Washington, Moynihan said that the government, borrowers and lenders need to look hard at some of the old assumptions and ask if homeownership the right solution for everyone?" There must be a different role for government; the GSEs and the FHA need to return to their...

Federal Home Loan Banks in Correspondent Lending; MBA Confirms Average Lenders are Making Big Bucks

Yesterday I journeyed to San Jose to visit with the Silicon Valley Chapter of CAMP. Casey Fleming, the president, reminded the capacity crowd how important it was to support your local organization. (Apparently this chapter has the most members of any of the California Association of Mortgage Professional chapters, and is very proud of that.) He also stated how important it is to be surrounded by your fellow mortgage professionals, which is very true. In my travels I have heard of a few tactics that...

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Today's Comments

	"This disparate impact stuff is gonna be the death of me! It's not a charge based on whether they’re married or not – the problem is when they’re not..."
	"He did not pay $67.5M he only had to cough up $22.5M from his personal wealth. The other $46 million plus Mozillo’s legal fees were paid by Bank of America..."
	"Let's see, we're at the cusp of a fiscal meltdown, with uncertainty on future tax hikes and government austerity measures, not to mention the debt..."

Today's Q&A