In the mortgage blogosphere, we talking heads tend to say the same thing when it comes to mortgage marketing. One of the pervasive themes we hear about every day: What Makes You Different?
Well I’m sick of asking that question. Instead, my columns here at Lenderama will focus on what mortgage professionals just like you are [...]
Well, the Home Valuation Code of Conduct (HVCC)–the brain-child of New York Attorny General Andrew Cuomo–is fully underway in the mortgage and real estate market.
I thought this would be a great time to survey (Google-style) loan officers and real estate brokers.
Here are a few of the most interesting:
Everyone is Talking About Bank Stress Tests
Bank Stress Test results are gracing everyone’s headlines, but before we sound the “all clear” horn you might want to take a look at some of these stories:
Recession Over & All Banks Pass the Stress Test? (The Big Picture)
Jack McHugh, questions the sunny disposition:
Good Evening: Just when [...]
I have to thank all of you for the kind emails that have been flowing in since my last post. It seems the format of “How TO” has been quite well received! Based on the excellent feedback from this post (Click Here if you missed it) I decided to create an instructional for the next [...]
Mortgage Broker Training + Time Travel = interesting blog post that you gotta read!
What if you could just start all over? What would you do differently? What if you could go back in time, and shake some sense into yourself? Laugh all you want, but as I was sitting back and vegetating this past weekend [...]
As I have mentioned many times before, the only way we could get mortgage rates down this low was with the Fed buying up mortgage backed securities and creating an artificially inflated market, aka the “mortgage rate bubble”. They have been the creators of the bubbles in the past through their actions, so why should [...]
2 fold post today. 1 is serious, the other is entertainment. Hey, it’s the holiday’s, what can I say? Anyhow, the Loan Officer Marketing Lab is putting the finishing touches on our Loan Officer 2.0 - Dominating the Search Engines module. This new module is designed for loan officer’s who are serious about generating [...]
I get this question an awful lot… “If you were me, what would you do to jumpstart your paycheck?” It’s a fair question as I can see where many of these loan officers are coming from. Just look at how much the market has changed.
The inherent problem in answering a question such as this one [...]
Amidst all the news and debating about what could/should/will happen with a bailout, I wanted to post a quick reminder of what marketing tools you should have in your arsenal to keep your pipeline flowing. I was going to title this as a loan officer marketing post, but in reality, whether you are a loan [...]
Traditional title examination involves the judicial use of technology while not replacing human expertise. That said, it takes a bit of time and a bit of money and that’s where we’re caught in this crazy Catch 22. People want you to do all the work and pretty darn fast - almost never fast enough but [...]
That’s a really big question and it has two completely different sets of answers. Why? Well, the words title company are used interchangeably to describe two very different kinds of title companies. So, for you to fully understand the answers, you first need to understand the difference between a title agency and a title underwriter [...]
I still don’t get how notary signing agents are permitted to go to loan applicants and have loan application packages signed for a fee and NOT consider this part of the loan origination process.
Here’s a thread on Notary Rotary discussing what are called RESPA signings. A RESPA signing is the upfront loan application package containing [...]
Yes, that’s right. So unless you can pay cash for a piece of real estate, expect to have a problem getting a mortgage.
I am examining title today for the purchase of a property that went through foreclosure. I saw FTL on the cover notes and at first glance assumed it was a Federal Tax [...]
Yea, I know. I’m not in the car business, BUT, as a title agent I do have to work with and around mobile home titles and let’s face it, a mobile home title IS a vehicle title. So, with that in mind let me say this - loudly and clearly….
IF YOU ARE INVOLVED IN THE [...]
I just received a memorandum from one of our title underwriters. It’s important info if you are involved in purchase transactions in PA with an assignment of interest or contract. The PA Dept. of Revenue issued an amended rule on transfer tax regulations last December. The effect of that change is just [...]
We’ve been working for a homebuyer since June trying to close a purchase.
He thought he did everything right BUT you can’t account for “out to lunch” sellers or their “not so helpful” bankruptcy attorney. [I'm being really kind with those quotes cause these folk have made lots of grief for everyone. More appropriately I might [...]
Hello loan pros,
I have been researching solutions for divorcing couples who are underwater on their mortgages and need to get one party off the loan obligation. Unless they are destitute or behind on their payments it seems like no lender in its right mind will restructure the loan, approve a short sale, or let one [...]
Straight from the FDIC:
On July 11, 2008, IndyMac Bank, F.S.B., Pasadena, CA was closed by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) was named Conservator. All non-brokered insured deposit accounts and substantially all of the assets of IndyMac Bank, F.S.B. have been transferred to IndyMac Federal Bank, F.S.B. (IndyMac Federal [...]
You might think that reverse mortgage lenders and banks, with their gobs of protective equity, would be immune to the Wall Street mortgage lending crisis. After all, how bad could the default rate on a home loan with no payments and at 40% to 50% LTV be? Tell that to the Wall Street bears.
Since investors [...]
I’ve had a feeling for some time that there was some correlation between counties issuing building permits indiscriminately and the subsequent crash in area real estate values. Here in Reno they are still approving new developments as fast as they are asked for, and yet we all know Nevada was one of the hardest-hit states [...]
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