Loan Think

On July 25, U.S. District Judge Paul G. Rosenblatt sentenced Clint Bryson Rogers of Scottsdale to five years in federal prison for his role in a mortgage fraud conspiracy. Rogers pleaded guilty on Jan. 18 to conspiracy to commit the crimes of false loan application, wire fraud and money laundering.

If you’re a flaming liberal in Congress you view the Ed DeMarco-principal-reduction controversy as follows: Fire that Republican now!

Electronically signed 4506-T forms will mean that lenders will be able to verify the borrower’s income in as little as a few minutes.

Recently we heard of a West Coast REO auction where one investor arrived in a hotel ballroom (where the event was being held) with body guards and $40 million worth of cashier checks.

Proactive mortgage originators look to build sales; reactive ones do refis.

But the HUD auction raises an interesting question: if HUD can unload nonperforming loans (NPLs) why can’t Fannie Mae and Freddie Mac?

Many major banks and lenders continue to exit various lending channels due to a number of reasons, one major concern being regulatory challenges.

Banking analyst argues that providing good customer service is not integral to financial success.

Late last week we blogged about how certain wholesalers are telling their loan brokers to take a number when it comes to getting approvals (and processing) on purchase money mortgages. We heard from a handful of brokers who said their wholesalers were different and from a few wholesalers who said they can move things along quickly.

I recently chaired a successful webinar on CFPB examinations. So successful in fact we will be doing another regulatory compliance webinar on Sept. 27.