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Glen W. Spencer

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"I completely understand that Closing and Funding are used interchangebly in the Mortgage Industry, however in Real Estate the vocabulry terms of signing the paperwork and recording the paperwork is already spelled out. **CLOSING: is when everything is completed and the transaction is executed with funding of a loan (if there is one). The Mortgage Indsutry is at fault by using these terms that are not their actaul definition. Loan Officers use the term "closing" all the time when scheduling..."    View Comment
"I have been in the mortgage business for over 10 years and never seen an FHA ARM that is not 1/1/5. Have no idea what lender has ever offered a 2/2/5 FHA ARM."    View Comment
"REBATE COMPENSATION IS NOT THE BROKERS. IT IS THE BORROWERS YIELD CREDIT WHICH HAS NOTHING TO DO WITH THE BROKER/LOAN OFFICER. All the changes I hear people worrying about have all been taken care by the 2010 GFE. Remember these rules were almost all written down and considered BEFORE the 2010 GFE went into effect, and the FED Rules have not been altered since."    View Comment
"Edgar, the BEST POSSIBLE LOAN scenario you mentioned has nothing to do with the actual rate/compensation. It has to do with giving the borrower all available options and that you can prove that your offered the BEST POSSIBLE LOAN to the client even if he/she did not execute that loan: IE 30 YEAR FIXEd, 15 YEAR FIXED, etc. as compared to Sub-Prime, Alt-A loans. WHAT!!! These loans don't even exist now, goes to show how far behind the Govt is. The only loans that most brokers/lenders can offer..."    View Comment
"@Deery, I understand that Goldmans past stock market analysis has been shaky at best, but their bond market expectations or predictions have been DEAD ON over the last 16 months. When the 10 Year was testing 4.00% last year Goldman predicted a 10 year below 3.00 by spring, 2.50 by midsummer, and bottoming at 2.40 to 2.30 in early fall. I can't even think of the possible consequences of the 10 Year moving back to 3.75% in the near future. Remember Goldman is the Governments Bank, errr, Goldman..."    View Comment
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