Loan Think

Mortgage interest rates may be at historically low levels, but the housing industry is not helping the overall economic recovery in the U.S. With the secondary market all but dried up except for Freddie and Fannie, who together purchased over three-quarters of originations in 2011, getting a mortgage these days is near impossible—perfect borrowers need only apply.

Given today’s rancorous partisan atmosphere, which has almost shut the Congress down, what measure do you think you could get a 400-0 vote on?

Dodd Frank could be interpreted to prohibit payments to originators of upfront points and fees. Eliminating compensation on such loans would create a certain amount of havoc and disarray for lenders.

Like any other discipline, selling should be learned and practiced in order to achieve effective results. Seminars, sales coaches, tapes, books, blogs and articles are some resources that might prove informative.

Loan officers and brokers are none too thrilled with the Consumer Financial Protection Bureau’s 37-page proposal on altering the way loan officers, brokers, and lenders are compensated on all mortgage transactions.

More from a contributor who wishes to remain anonymous but wanted to spread the word that taking care of your personal well being is the way to outperform the competition.

The Consumer Financial Protection Board stated that it will continue to use the doctrine of disparate impact in its supervisory and enforcement activities.

Based on the comments appearing on our blogs and message boards, loan officers and mortgage brokers are overwhelmingly Republican. They don’t like too much regulation and given what’s transpired because of Dodd-Frank (regarding loan officer compensation) they’re fighting an uphill battle concerning how much money they can earn.

Based on the comments appearing on our blogs and message boards, loan officers and mortgage brokers are overwhelmingly Republican. They don’t like too much regulation and given what’s transpired because of Dodd-Frank (regarding loan officer compensation) they’re fighting an uphill battle concerning how much money they can earn.

In order to remain competitive, small lenders need to integrated underwriting systems and the ability to provide market, sponsor and property history reports and information at the push of a button.