Hello Lenderamons & Welcome to 2009! Haven’t posted in a while, so I thought I’d start off the New Year to say Hi and let you know that I am alive and well, and for those friends of mine reading who’re still in the mortgage and real estate business, congrats! With mortgage rates at a [...]
Governor Charlie Crist approved new Section 501.1377 F.S. which goes into effect on October 1, 2008. It’s well intentioned and aimed at protecting homeowners in Florida who are facing foreclosure. There’s a prohibition against collecting an advance fee from any Florida homeowner in foreclosure which is great, but unfortunately, the new law doesn’t contain an [...]
Hey, what’s going on in Lenderamaland? Wake up!
Ok, now that I have your attention. Let me tell you what the call capture companies don’t want you to know.
You know how call capture works; you’re assigned an 800# that is owned by the call capture company and you pay a monthly fee plus a per-minute fee [...]
Fannie Mae is now accepting comments on Major Appraisal Changes:
To help enhance the integrity of the home appraisal process in the mortgage finance industry, Fannie Mae has entered into an agreement with our regulator – the Office of Federal Housing Enterprise Oversight (OFHEO) – and the New York Attorney General’s office, to adopt a Home [...]
Too many people in business don’t want to help someone else out unless there’s something in it for them. I don’t agree with that philosophy. As a matter of fact, there’s a proverb that says “there is that scattereth, and yet increaseth; and [there is] that withholdeth more than is meet, but [it tendeth] to [...]
I believe it’s healthy to take a step outside and perhaps even laugh at ourselves so as not to be caught up in our own pride. Let’s face it; we are where we are. It’s time to fess up, identify it, and move forward.
Citigroup’s expected to announce a $24 Billion write down this [...]
From Friday after 5PM through Sunday night I received ten call capture pages. I set eight appointments out of ten. One was a curious neighbor (not a buyer) and another was too chicken (guessing) to answer the phone or return the message I promptly left. Eight out of ten is phenomenal, but it’s not the [...]
A couple years ago, one of my LOs asked me to sign up with an investor funding foreclosure bailouts at ridiculously high LTVs. The company was called FundingForeclosures.com. Here’s what their site looked like at the time.
I thought it sounded too good to be true, so I passed. I’m thankful for that. Let’s check out [...]
Here is an excerpt from Senator Dodd’s proposal (page 15 of S. 2452):
“NO YIELD SPREAD PREMIUMS. - No person may provide, and no mortgage originator may receive, directly or indirectly, any compensation for originating a home mortgage loan that is more costly than that for which the consumer qualifies, or that is based on, or [...]
Taking a page out of last week’s Dead Until I Do Something, I thought it appropriate to do something.
Twenty-Minute Video
If you click the above video, then you’ll learn two things:
1) I talk about Lenderama in my sleep
2) There’s no easier way to build 100 referral partners in thirty-days for free
Today’s struggling real estate market presents [...]
I am overwhelmed by the addition of all of this new talent on Lenderama. This is really a credit to Todd and the opportunity he has given us to be a voice at a time when the mortgage/real estate industry needs us the most. I’d like to suggest a proposal and am looking for comments [...]
Fellow Mortgage Brokers,
Please take two seconds to sign the petition below to keep YSP and report in the comments section what # you were.
To: U.S. Senator Jon Kyl, U. S. John McCain, President George W. Bush, U. S. Rep Harry E Mitchell
We want to express our opposition to H.R. Bill 3915. We believe it [...]
Ninety percent of this business is about showing up. Showing up on time. Returning that call on time. Being on time. My company logo is the Minuteman, named after the Massachusetts minuteman law of 1645, which required “every company commander to have 30% of his unit ready with full packs, ammunition, [...]
Everyone always overreacts. The housing frenzy gets carried away one way…and then the other. Many buyers are sitting on the sidelines watching and waiting to see when the bottom hits, but of course, we learn when that was after the fact.
Don’t confuse this author with someone slinging NAR propaganda. I’m more along [...]
Today the laws for mortgage brokering and lending in the great state of Florida were changed. Chapter 494 F.S. was amended and penalties of $5,000 per offense were added for violations beginning October 1, 2007. There are a number of changes regarding disclosure and other procedures. I’m not going to write about all of the [...]
Sorry folks, I don’t have time for a long post, I’m in the middle of this mortgage-nuclear-war. Yes, that’s right, I have a mortgage company in Florida, and now I’m on the front lines in this battle. Good thing the problem is contained to subprime. lol Hey, but let me quickly share with you [...]
The real estate marketplace is constantly changing. You need to have a positive attitude and you need to keep pace with the changes. First and foremost, as loan originators, we are here to help people. Making money is a by-product and ancillary to that service we provide. OK, let me step down from my Monday [...]
Internet lead generation generally has a real shrill ring in most loan officers, brokers, and bankers ears. Most of this reputation is diserved. But, is there a better way?
A post at Lead Critic may be interesting to you if you are a Web 2.0 junky and you have always thought there was a better way [...]
Listen, I’m gonna make this quick, cause quite honestly this might be my final post here on Lenderama. After the Head Honcho sees this la la la title, there’s a good chance I’ll be fired and if that’s the case then it’s been nice knowing all of you.
OK, so I know where Todd’s coming [...]
I renewed 350 domain names in bulk last week with GoDaddy. I like the internet. It’s that great frontier of the Wild West West and it’s presently available for you to stake your claim. Incidentally, Business.com sold last week for $345M and, unlike the dot-com blowouts of Y2K, the company is profitable with $50M in [...]
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