Fri, Oct 25 2013, 9:43 AM
The FHFA announced that Fannie/Freddie loan limits will not be reduced for at least six months
and any such reduction will occur after a six-month...
Thu, Oct 24 2013, 9:20 AM
With recent changes in QM/ATR rules along with intolerance for any
error which may impinge marketability or the ability to expeditiously
Wed, Oct 23 2013, 10:11 AM
I am spending a couple days in Kansas before heading to North
Carolina, and around here the old saying goes, "The older the buck, the
stiffer the ...
Tue, Oct 22 2013, 9:35 AM
I travel to a lot of engagements (this week is Los Angeles, Kansas,
and North Carolina, and then to DC for the conference) and am jealous of
Mon, Oct 21 2013, 9:41 AM
Some of the information out there is "about as reliable as a
Realtor's photograph." But rumors continue to swirl about the health of
Fri, Oct 18 2013, 9:57 AM
It is a proven fact that ghosts, ghouls, vampires, werewolves, and
the like all live forever. (I either read it in the National Enquirer or
Thu, Oct 17 2013, 10:50 AM
LA Dodgers' Tommy Lasorda reportedly said, "I found out that it's not
good to talk about my troubles. Eighty percent of the people who hear
Wed, Oct 16 2013, 10:56 AM
A biologist, a chemist, and a statistician are out hunting. The
biologist shoots at a deer and misses 5 feet to the left, the chemist
takes a shot...
Tue, Oct 15 2013, 9:53 AM
Welcome to "National Aging in Place" Week (October 15-21). No, this
doesn't mean sitting in that 10-yr old office chair, slouched over your
Fri, Oct 11 2013, 11:44 AM
Entities like title companies, real estate agencies, home inspection
services, etc. don't mind this statistic, but lenders sure do: the
Thu, Oct 10 2013, 10:09 AM
"Ladies, if your guy says that he is going to fix something, he means
it. There is no need to remind him every six months." Hopefully the
Wed, Oct 9 2013, 10:51 AM
I have decided to take matters into my own hands. I am in the
Washington DC area today for the Mid-Atlantic Lender Conference, and I
plan on telli...
Tue, Oct 8 2013, 9:37 AM
"All of the talk about lenders 'loosening' their requirements for IRS
transcripts. Lenders should remember that just because an investor or
Mon, Oct 7 2013, 9:26 AM
This is exciting - kind of like a WWII movie, where things are sent
via code. (No foot tapping jokes please!) In this case, our government's
Fri, Oct 4 2013, 10:26 AM
According to a release from Citi, the bank will pay Freddie Mac
$395 million, all of which is covered by its existing mortgage
Thu, Oct 3 2013, 9:54 AM
Craig B. sent this one in, discovered when doing some research on
prepaid interest: "Prepaid interest is interest that you pay in advance.
Wed, Oct 2 2013, 9:57 AM
Anthony Bird, owner of Michigan's Riverbank Finance , writes, "I have done some research regarding the shutdown and how it will affect government age...
Tue, Oct 1 2013, 10:20 AM
What is bothersome for many CEOs, as we enter the 4 th
quarter, is profitability - or lack thereof. I received this note from
the CEO of a reside...
Mon, Sep 30 2013, 10:47 AM
"Rob, I attended a seminar last week, and one of the speakers
mentioned something called 'Freddith Mae'. Ever heard of that?" Nope -
either I'm ou...
Fri, Sep 27 2013, 10:24 AM
Although she is blind, Justice never sleeps, and any company's management who thinks it can skirt the Bank Secrecy Act might
be in for a rude awak...
Thu, Sep 26 2013, 10:42 AM
Does anyone really retire anymore? Most seem to adapt to re-careers,
heading off to other pursuits. But still plenty of U.S. citizens retire,
Wed, Sep 25 2013, 10:29 AM
I didn't make it to the gym today. That makes five years in a row.
Speaking of five years, WAMU 's failure - the largest
commercial bank failur...
Tue, Sep 24 2013, 10:49 AM
Given the change in the MBA's logo, David Frase writes, "I love the
new MBa logo! It emphasizes the loss of 'capital' experienced by our
Mon, Sep 23 2013, 11:11 AM
As usual, we have some keen insights and observations about the residential lending biz worth sharing (along with vendor, agency, and investor updates...
Mon, Sep 23 2013, 10:22 AM
Phew! It turns out that the acronym for the Mortgage Bankers Association (of America) remains "MBA." MBa is just its logo .
Here is an interesting...
Fri, Sep 20 2013, 10:18 AM
Whereas the National Association of Realtors has managed to have
everyone capitalize the job of their members (Realtor), the MBA (which
years ago ...
Thu, Sep 19 2013, 11:01 AM
Welcome to "Talk Like a Pirate Day" , even held in Minnesota where I am heading today. Of course, 3.14159...% of sailors are Pi Rates .
Wed, Sep 18 2013, 10:07 AM
The industry is moving toward more acceptance of non-QM loans .
The CFPB will be the first to admit that just because a loan is not QM
Tue, Sep 17 2013, 9:48 AM
I am really surprised at how many mortgage vets seem to have forgotten
what a business cycle is (almost like how I was surprised in 1977 when a
Mon, Sep 16 2013, 10:24 AM
On Friday the 13th the CFPB released the final amendments
to the Loan Officer Compensation, Servicing, QM and HOEPA Rules. The
official release ...
Fri, Sep 13 2013, 10:23 AM
After 36 years of space travel and months of heated debate among
scientists, NASA confirmed Thursday that Voyager 1 has indeed left our
Thu, Sep 12 2013, 12:21 PM
Citi is a global bank, and unfortunately for some of its workforce, there will be fewer of them in the mortgage group. Per FOX Business, Citigroup pl...
Wed, Sep 11 2013, 12:04 PM
The MBA numbers this morning confirmed that business is slowing even
more. Lock desks knew it but the MBA confirmed it: the Mortgage Bankers
Tue, Sep 10 2013, 10:30 AM
Last month this commentary mentioned the possibility of a maximum
loan amount reduction by the agencies. It has now become mainstream news
- a poo...
Mon, Sep 9 2013, 10:08 AM
We're all watching the residential lending industry change, although
in Saturday's commentary I noted several bank mergers from recent weeks.
Fri, Sep 6 2013, 9:04 AM
"Are LOs liable for their comp plans?" Yes they are. This commentary discussed this topic over a month ago, yet I still hear stories about a company ...
Thu, Sep 5 2013, 10:16 AM
On Saturday we'll have an exciting anniversary: on 9/7/08 Treasury
Secretary Hank Paulson announced a plan where the government took
control of Fa...
Wed, Sep 4 2013, 10:15 AM
I know it is already Wednesday, but here is something labeled " The Monday Map "
which shows some interesting trends in personal incomes among the
Tue, Sep 3 2013, 9:49 AM
August was not a pleasant month for many lenders, and September may
not be much better. Sure, volumes are down, and staffing is down in most
Fri, Aug 30 2013, 10:52 AM
Radian announced it has entered into an agreement with Freddie Mac
on a pool of delinquent loans which eliminates credit risk on 9,756
Thu, Aug 29 2013, 9:55 AM
Affordability has a strong impact on homeownership. Not surprisingly,
per the NRA, I mean the NAR, four of five states with the lowest
Wed, Aug 28 2013, 10:53 AM
There are lots of training videos out there. But there aren't many 0%
down payment programs from the government - the USDA is about it. Here
Tue, Aug 27 2013, 10:00 AM
I am spending some time in Kansas, and some of the discussion is about
how hiring is so much more interesting and fun than eliminating staff.
Mon, Aug 26 2013, 9:42 AM
Here is an e-mail from Gary B. up in Washington: "Rob, I work for a mortgage bank, and we'd heard that that LOs have to be fingerprinted every three ...
Sat, Aug 24 2013, 3:55 PM
With so much going on in the lending, banking, and real estate business, let's take a look at some thoughts from readers across the nation " in the tr...
Fri, Aug 23 2013, 10:42 AM
When S&P downgraded the United States (remember that?), it did
absolutely nothing to Treasury rates, and certainly didn't seem to
Thu, Aug 22 2013, 11:01 AM
Many parents of young adults grapple with the, "Do we help little Sage buy a home, or let him rent?" question. The Wall Street Journal reports 37% ...
Wed, Aug 21 2013, 11:05 AM
There is a lot of continued controversy and focus over the various
compensation plans for loan officers and regulatory audits. Obviously,
Tue, Aug 20 2013, 10:20 AM
One can have a lot of fun with statistics. If I own one dog, and
adopt another, my dog population has gone up 100%. The same can be said
for the c...
Mon, Aug 19 2013, 10:07 AM
I am heading off to Indiana this morning, but still had time to catch
this OCC release about a company to cheat consumers who are trying to