Loan Think

Mentoring the newbies in the mortgage business may help them avoid boom-and-bust errors later in their careers. And it can be a personally satisfying thing to do as well.

The general perception in the mortgage industry is that the CFPB and their new regulations are like an albatross around the necks of mortgage companies, especially the smaller independents.

Under the Consumer Financial Protection Bureau plan, lenders would need to respond to virtually every public complaint — even those by consumers, disgruntled employees, and competitors that abuse this forum.

Loan officers should be keeping in touch with their current and past customers on a regular basis. But there are several common mistakes they are making.

Like the ER, the mortgage process starts out with a high degree of both anxiety and frustration, especially at the beginning.

With mounting indicators clearly showing that the so-called housing recovery was just an illusion, and many housing industry pundits who formerly touted the validity of said recovery now recanting their views, there should be no doubt that we are headed for another/further housing downturn.

The CFPB's guidance provides no specific rules or bright lines – leaving the agency the flexibility to call it how it sees it and reflecting a desire to regulate through enforcement.

Just because a group of athletes or loan officers are the most skilled individual players does not mean that together they make the most capable team, writes Garth Graham.

Lack of funding confidence is why many longtime mortgage professionals are jumping ship and hitching their wagons onto new companies.

A nonprofit housing group has found an ambitious middle ground between those who oppose any change to the mortgage interest deduction untouched and those who say it must go.