Loan Think

To be successful in mortgage sales, you need to take care of your personal physical and mental health.

The mortgage industry – loan officers and brokers in particular – are anxiously waiting for the Consumer Financial Protection Bureau to unveil its final loan officer compensation proposal. The rule was slated for early August release and here it is mid-month and nothing’s been issued.

Plan today to be successful 18 months from now.

I was talking to one mortgage employment specialist the other day who suggested to me that the residential finance industry has done a crappy job of preparing for its future, citing the aging workforce of loan processors and underwriters.

Addressing Chicago’s distressed housing through eminent domain could hurt the market more than help it as it may harm homebuyers' ability to obtain credit.

Key components of a quality assurance program include reviews of the work contractors complete, collecting outside data, analyzing results, and adjusting practices on those results.

The CFPB is working on a real estate issue that gets to the core of its purpose: transparency and better disclosures of costly loan process fees.

It is widely recognized throughout the industry that short sale completions are increasing.

We heard a rumor (unsubstantiated) a few weeks back that Fannie Mae, Freddie Mac and FHA are contemplating hiking their minimum net worth requirements to $3.5 million from the current $2.5 million.

A trio of sales trainers speaking at the California Association of Mortgage Professionals conference provided useful hints for mortgage originators to adopt.