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What, exactly, qualifies a person as "rich"? It depends who you are - here in the States the wealth of the top 1% is about 225 times greater than that of the typical family, compared to 125 times in 1962, and the cumulative wealth of the Forbes 400 was $1.54 trillion, equal to worth of the bottom half of American families . Household net worth has been falling, and a recent Gallup poll states that the median income to be considered "rich" is $150,000 a year, up from the $120,000 that qualified a...

Do you think it takes a long time to have a loan purchased by Wells or MetLife? Try running the world's longest lab experiment , begun in the 1920's. Fortunately finding a job in mortgage banking doesn't take eighty years. In Toms River, New Jersey, Glendenning Mortgage currently has an opening for a DE Underwriter to join its team. Business has been too good for Glendenning, which has found itself outsourcing a portion of its underwriting needs - it would like to bring that back in-house entirely...

Hey, if you can't beat 'em, join 'em . I bet many wouldn't mind making nearly a quarter million a year being a "cutting edge" CFPB regulator - link . Compare that to a story last week in the Wall Street Journal noting, "Government regulators will cut sharply the pay of the executives they hire to succeed the departing heads of Fannie Mae and Freddie Mac, said regulators, which may make it difficult for the struggling mortgage-finance giants to attract and keep qualified chief executives. Some officials...

Basketball fans know that all-stars Patrick Ewing, Charles Barkley, Dominique Wilkins, Elgin Baylor, Reggie Miller, Pete Maravich, Karl Malone, and John Stockton share something - none of them ever won an NBA championship. Like basketball, football is a team sport. OJ Simpson knows a thing or two about team sports - and now he knows about the foreclosure process, in which it is rumored that Chase reps could not locate him in spite of his well-publicized prison stay. On the more constructive side...

There are folks out there that believe doing Sudoku puzzles will stave off senility and Alzheimer's. I don't do the puzzles, and don't believe the claim. I...uh... what was my point? Oh yes...there are some very bright folks out there who apparently determined the minimum number of numbers (17) required to give a unique answer to a puzzle. (And you wondered what math majors did after college). Speaking of bright folks, fair lending enforcement has taken a dramatic new turn. Things are heating up...

The IRS said that taxpayers will have until April 17 to file their 2011 returns, thanks to two quirks of the calendar this year: April 15 falls on a Sunday, and the following day is Emancipation Day, which is observed in the District of Columbia. By federal law, District of Columbia holidays affect tax deadlines the same way federal holidays do, giving taxpayers an extra day - thank you District of Columbia. Across the nation, First Mortgage, a long standing mortgage banker of nearly 40 years, is...

Hey, if you're still originating loans now, you may-as-well stick around another year, right? The 2012 NMLS Streamlined Renewal Process is underway . This year, over 16,000 companies and 115,000 state-licensed mortgage loan originators, holding licenses from one or more of the 58 state agencies using NMLS, are eligible to renew their licenses for 2012. Additionally, over 10,000 institutions and about 250,000 federally registered mortgage loan originators are eligible to renew their federal registration...