A lawyer friend of mine once told me that if Americans were smart they wouldn’t get out of bed in the morning without first consulting with their attorney. Of course, this smacks of self-preservation. And this friend -- a mortgage attorney to boot -- has a license to practice law in the legal capital of America: New York State. Where am I going with this? Answer: as federal and state regulators continue to heap more regulations on lenders and servicers, it stands to reason that these companies will require the special services of all sorts of vendors (regulatory, legal, and so on) to navigate the treacherous mortgage waters that now exist in this country. Already, I know of a few firms that, for a fee, will help you obtain your Ginnie Mae eagle. And then there’s mortgage compliance. Who says excessive regulation doesn't create jobs?
AUG 30, 2012
A daily video that gives you mortgage news, plus a little attitude.
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