Latest Rob Chrisman Articles

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Rob Chrisman's Daily Commentary

For the past 10 years Mortgage News Daily has provided our readers with Rob Chrisman's daily commentary.

NEW Flood Insurance Focus; Vendor Mergers & Agreements; Unemployment Different Based on Gender and Race: "Mancession"

Fri, Oct 7 2011, 10:34 AM

Pssst...efha.com is for sale. It was designed as a retail site, and the sale includes the domain name and redesigned screenshots. Visit efha.com fo...

NEW Production Jobs; FHA Streamline Issues; MERS Victory; More on NMLS training; Investors Suspending Programs & Limiting AMC's

Thu, Oct 6 2011, 9:41 AM

roduction jobs come and go. On one side, Kinecta Federal Credit Union is continuing to grow its business and is hiring Retail Mortgage Loan Cons...

NEW A Pod of Investor Updates; Upcoming Conferences & Lots of Various Training Sessions

Wed, Oct 5 2011, 11:35 AM

The English language has different nouns for the various groups of animals. We call a bunch of cows a "herd." We call a group of geese a "gaggle," a...

NEW Focus on Appraisals, Appraiser Hurdles, and AMC's; Bank of America Details Mortgage Exit Strategy

Tue, Oct 4 2011, 11:34 AM

"As previously announced, Bank of America Home Loans plans to exit the correspondent mortgage lending channel and focus entirely on retail distribu...

NEW Flood Insurance Update; 2% Paid on Impound Accounts; Insurance Against a Drop in Home Values? Sign Me Up!

Mon, Oct 3 2011, 11:04 AM

Well, here we are. The sun managed to come up (so far at least on the East Coast) after the temporary loan limits weren't extended. On Oct. 1, the s...

NEW Fraud Trends; Lenders One Weighs in on G-fees; HARP & Servicing Comments; Where Does Impound Income Go?

Fri, Sep 30 2011, 10:36 AM

Baseball fans will know the answer to this one: What's the difference between a hot dog at Fenway Park and a hot dog at Yankee Stadium? Answer: You ...

NEW New Repurchase Risk Tool; Foreign Buyers in Florida Paying Cash; HUD Changes Multi-state Rules

Thu, Sep 29 2011, 10:51 AM

With two business days left in this month, and companies scrambling to fund either high balance loans or Streamline loans where rates have dropped e...

NEW Suggestions on Improving HARP; Rates Back to Pre-Twist Levels; 10/1 Approaching

Wed, Sep 28 2011, 11:30 AM

Most of my friends barely know what a mortgage broker is, yet the president brought up the term in a speech: "...it is our responsibility to make su...

NEW LO Comp Lawsuit Results; TBW Accounting Firm Sued; Investors Gearing up for VA Funding Fee Change

Tue, Sep 27 2011, 11:05 AM

Some things you just can't make up. Arch West died last week of natural causes at the age of 97, and when he is buried this weekend, Arch West will ...

NEW New Reasons for Slow Refi's; Regulators Lacking Manpower; MISMO back to MBA

Mon, Sep 26 2011, 10:27 AM

Have you ever heard of the Federal Financial Institutions Examination Council? I must admit that I hadn't, until it released its latest report which...

NEW FTC Goes After Loan Mod Companies; MERS Training; FHA MIP Suggestion

Fri, Sep 23 2011, 10:24 AM

Hopefully failing a breathalyzer test doesn't happen to any mortgage bankers tonight after Happy Hour. Folks who are hedging a pipeline, or wh...

NEW Mortgages from the Supermarket?; Major Banks Downgraded; Lots of Investor Updates

Thu, Sep 22 2011, 10:32 AM

Sometimes things aren't always what they seem. For example, http://www.wimp.com/sweetride/ . One would hope that a major US bank is what it seem...

NEW Positive LO Compensation Feedback; The Impact of Foreclosure Numbers

Wed, Sep 21 2011, 11:06 AM

I handed the teller at my bank a withdrawal slip for $400.00. I said "May I have large bills, please." She looked at me and said, "I'm sorry sir, al...

NEW Changes in G-fees, MI Levels and Risk Pricing from GSEs? Improving Commercial Real Estate?

Tue, Sep 20 2011, 10:54 AM

It used to be that people who walked down the street arguing with nobody there were deemed "crazy". When cellphones first got overly popular, my mo...

NEW High-level Production Jobs; Wholesaler Rankings; Countrywide Bankruptcy?

Mon, Sep 19 2011, 11:46 AM

Welcome to Talk Like a Pirate Day. Of course, 3.14159...% of sailors are Pi Rates. Yesterday through next Sunday is "National Singles Week", sta...

NEW Mortgage Company Performance Survey Findings; LO's Comment on Effect of New Comp Rules

Fri, Sep 16 2011, 10:40 AM

"I went for my routine check-up today and everything seemed to be going fine until he asked me to drop my shorts! Do you think I should change den...

NEW Mortgage Banking Movies?; The BofA Ripple Effect in the Industry

Thu, Sep 15 2011, 10:57 AM

Welcome to National Hispanic Heritage Month, which started with a week-long tribute in 1968 under President Lyndon Johnson, but was expanded in 1988...

NEW SEC & REIT's; Fannie & Freddie Latest; WSJ on Government's Role in BofA Cuts

Wed, Sep 14 2011, 10:57 AM

"A clever person solves a problem. A wise person avoids it." But at this point, most believe that it is too late to avoid the problems in the mortga...

NEW BofA Correspondent Update; Basel Rules Called "Anti-American"; MetLife Servicer-Quality Rating Reduced

Tue, Sep 13 2011, 10:34 AM

Even dumpsters can be turned into homes - but what about the comps? Is There Room For The Rat? Rates are great, but no experienced loan ...

NEW Possible HARP Changes; MERS Holding It's Own; Loan Limits Extension

Mon, Sep 12 2011, 11:34 AM

Don't forget that we're one week away from "Talk Like a Pirate Day." Of course, to err is human; to arr is pirate. The next time you're thinking...

NEW Insurance 101: Errors & Omissions, Professional Liability, Fidelity Bonds

Fri, Sep 9 2011, 10:05 AM

[ I am away from the computer on a daily basis, and will not be returning e-mails until September 10th. In my place are daily commentaries from a se...

NEW Pipeline Management in a Changing Mortgage Banking Landscape

Thu, Sep 8 2011, 9:56 AM

Today's contribution comes from... Don Brown Co-President Secondary Interactive dbrown(at)secondaryinteractive.com www.secondaryinteractive.com ...

NEW Industry Observations from an Industry Old-Timer

Wed, Sep 7 2011, 11:27 AM

[I am away from the computer on a daily basis, and I cannot respond to e-mails until September 11th. In my place are daily commentaries from a serie...

NEW Good Night Irene? Not So Fast. It's Recert Time!

Fri, Sep 2 2011, 12:06 PM

[I am away from the computer on a daily basis, and I cannot respond to e-mails until September 11th. In my place are daily commentaries from a series ...

NEW Reshuffling the Deck: Merging Mortgage Technologies

Fri, Sep 2 2011, 12:06 PM

[I am away from the computer on a daily basis, and I cannot respond to e-mails until September 11th. In my place are daily commentaries from a serie...

NEW BofA Looks to Exit Correspondent, What Next?

Wed, Aug 31 2011, 9:12 AM

Mortgage banking and real estate are typically not physically hazardous professions. In case you're ever tempted to throw down your pen & pencil and...

NEW BofA Settlement in Question; NMLS's Interesting Originator Stats; Impact of GNMA's Mod Rule

Tue, Aug 30 2011, 10:44 AM

Realtors and mortgage professionals know that divorce can often lead to the formation of a new household. According to the Census Bureau, the nat...

NEW Reader Feedback on Potential Government Refi Plan; Markets Calm After Storm

Mon, Aug 29 2011, 10:32 AM

An IT person is someone who understands this joke: "The definition of 'Installation routine': A process employed by many applications to overwrite a...

NEW Feedback on Potential Housing Bailout Programs

Fri, Aug 26 2011, 10:50 AM

Don't you always wonder how much the guys standing at the stoplights take home, tax-free? It is a little farcical, but: HowMuchTaxFree? A doc...

NEW New Refinance Program Unlikely. What About a 21st Century Homestead Act?

Thu, Aug 25 2011, 10:56 AM

Warren Buffett's Berkshire Hathaway, who owns about 10% of Wells Fargo, announced that it is investing $5 billion in Bank of America. $100,000 per s...

NEW FDIC Sued Over WAMU's Bad Loans; LPS Sued Over Robo-Signing Allegations; Bank of America in Downward Spiral

Wed, Aug 24 2011, 10:09 AM

Fannie, Freddie, and the US Government aren't the only entities struggling with debt. The U.S. Post Office is expected to hit its $15 billion borro...

NEW PMI Suspended by GSEs; FHA Rebuilds Rental Units; Appraisers Hurting Home Sales?; S&P President Resigns

Tue, Aug 23 2011, 10:39 AM

Who is Deven Sharma? He is the latest person to quit his job. Ordinarily this wouldn't be a big deal, but he was the president of Standard & Poor...

NEW Originator Turnover Observations; HUD Updates on Loan Limits; Eligibility and Credit Reg Bulletins

Mon, Aug 22 2011, 10:20 AM

No wonder companies are hiring. The Mortgage Bankers Association raised its forecast for loan production this year to $1.1 trillion in residential ...

NEW Troubling Trends in Home Sales, Realtors Want Relaxed Regs; Rating the Ratings Agencies; Banks Cutting Jobs; Loan Submissions Needed

Fri, Aug 19 2011, 10:18 AM

Every month we hear about existing home sales , with the usual quote from someone at the NAR. (This time around, Lawrence Yun, NAR chief economist,...

NEW MLOs on the Move; Pricing Overages Pay Marketing Expenses; Refinancing Borrowers from 30s to 15s; Appraisal Adjustments

Thu, Aug 18 2011, 9:32 AM

Does it seem more crowded around here than ten years ago? Maybe not in Detroit, or in Kansas, but around the world, the population is expected to h...

NEW Big Banks Shedding Assets; Will Small Banks Keep Originating Mortgages? How Borrowers Opt Out of Trigger Lead Lists

Wed, Aug 17 2011, 9:04 AM

We're in the middle of baseball season, and here's a non-mortgage video that has people saying, "No way": BatterUp! Small banks can still origi...

NEW Ellie Mae Buys DataTrac; GSEs Here to Stay; Ginnie Mae Guarantees; Borrower Paid Comp Comments

Tue, Aug 16 2011, 10:52 AM

The winner of the "pot calling the kettle black" award for this week goes to U.S. Rep. Tom Graves, who was calling for fiscal responsibility in Was...

NEW Mortgage Mergers and Acquisitions; Fed's View of the Economy; Florida Brokers Flee Industry; Loan Mod Fraud

Mon, Aug 15 2011, 10:33 AM

A man walks into a psychiatrist's office wearing only underwear made of Saran Wrap. The psychiatrist says, 'Well, I can clearly see your nuts." Anyo...

NEW Foreclosure Law, Advertising Changes, Trigger Leads and 'Low Rates, Who Can Refi?'

Fri, Aug 12 2011, 10:13 AM

(Sorry the commentary is a little late today. It took me a long time to wade through all of the investor price-change e-mails from yesterday. So let...

NEW Dealing with REO Inventory; Another AARP Lawsuit; Loan Limit Cutoff Dates; LO Comp Feedback

Thu, Aug 11 2011, 11:23 AM

Last night my wife met me at the front door. She was wearing a sexy negligee. The only trouble was, she was coming home. The correct perspective ...

NEW Automated Pricing Engine Issues; MLO Comp Plan Impact on Renegotiation Policies; Investor Updates

Wed, Aug 10 2011, 9:21 AM

This unrelated-to-mortgage banking short clip of a marriage proposal will take your mind off the markets: GoodCatch ! Maybe it will take l...

NEW Appraisal Independence Requirements; GSEs Downgraded; MIAC on Renegotiations; AIG vs. BoA;

Tue, Aug 9 2011, 9:03 AM

"There's no time to stop for gas, we're already late." One has to think about the warped logic that is behind that statement, just as one has to thi...

NEW Buyback Claims; Industry Consolidation Commentary; Who Wants a Job?; What about Housing?

Mon, Aug 8 2011, 10:06 AM

What do Canada, Germany, France and the United Kingdom have in common? Their debt (and a few other smaller countries) is rated AAA by Standard & Poo...

NEW PMI Following RMIC Down the Tubes? Saxon for Sale? REIT Prices Sliding? Too Many Questions for a Friday

Fri, Aug 5 2011, 11:55 AM

If you want a job, should you go to The Great State of Texas? (Unofficial motto: "So what if it's a little hot?") Maybe: ButItsADryHeat Think...

NEW Explaining Wider Primary/Secondary Loan Pricing Spreads; CFPB Update; Radian vs. Quicken; RMIC Done

Thu, Aug 4 2011, 10:20 AM

RMIC threw in the proverbial towel Wednesday afternoon. "We wish to inform you that Republic Mortgage Insurance Company (" RMIC ") will discontinu...

NEW Perspective on Rejected Title Insurance Claims; Even More Negative News for RMIC; Commercial Delinquency Rates

Wed, Aug 3 2011, 10:48 AM

Lots of folks take vacations during the summer, and many have to ration out their days-off during the year. How does the amount of vacation you have...

NEW Less Loan Production, More Repurchases Eat at Ally's Earnings; RMIC in Trouble; Renewed Interest in Regional Lenders

Tue, Aug 2 2011, 10:40 AM

And so the debt ceiling legislation passes the House of Representatives and heads to the Senate. So the market's attention turns back to the fact th...

NEW Fannie Mae Suspends RMIC; Ocwen's Shared Appreciation Modification Program; Title Claim Trouble

Mon, Aug 1 2011, 10:09 AM

"I had amnesia once--or maybe twice." One's mental health is nothing to joke about, and long days can make folks pretty sleepy (just ask any West Co...

NEW Revisiting Originator Compensation; Bank of America Faces New Lawsuit; Industry Earnings; Regulatory Conflict

Fri, Jul 29 2011, 9:59 AM

"Why do chicken coops have two doors? Because if they had four doors they'd be sedans." And thus starts Friday, with very good rates but a lot o...

NEW How Debt Ceiling Issues Impact Fannie Mae and Freddie Mac; Bankruptcy Mortgage Project; Chance to Buy REITs?

Thu, Jul 28 2011, 11:36 AM

Heard on the NPR radio show "Wait, Wait, Don't Tell Me" from Michael Feldman: "If the US defaults on their debt and our rating is downgraded and the...