Loan Think

HARP 2.0 is hot – or so we keep hearing. Late last year the Treasury Department finally found the keys to the HARP kingdom: take the loan-to-value ratio girdle totally off the patient and see what happens.

The lending industry would face “disparate-impact” liability for Fair Housing Act violations under a rule recently proposed by HUD.

In the May issue of Origination News, we published our third annual Top 150 loan originator list. Starting today and over following Mondays, we will be featuring the top five producers for 2011.

In February and January of this year mortgage firms hired 5,500 workers. That’s good news for the industry and shows that residential finance is on the rise again after several rough years of dealing with record delinquencies, sagging home values, tougher regulations, and the general perception that “renting is good.”

On top of the regulations imposed by the CFPB, by Aug. 13, all mortgage banks will need to become compliant with Federal Anti-Money Laundering ("AML") regulations. "FinCEN," the Financial Crimes Enforcement Network, created through the Patriot Act in response to the Sept. 11, 2011 attacks, requires lenders (including non-depository institutions) to comply with AML regulations.

While RESPA does not prevent a seller from insisting that a buyer use a particular lender, the new Dodd-Frank Act might under the “anti-steering” provisions.

Going paperless makes sense because it cuts costs and grows business.

It’s not easy being president. Just ask George W. Bush or Jimmy Carter. As for the current inhabitant of the White House, he was a bit late to the game when it came to tackling the housing and mortgage crisis. He wants to fix the housing/mortgage mess and he controls (sort of) three entities that can aid in that recovery: Fannie Mae, Freddie Mac and HUD/FHA

From time to time I hear appraisers talk about the fact that they feel undervalued, and that the business they’re in is becoming increasingly difficult. Some feel it’s a downright hostile environment for appraisers today.

More from our anonymous contributor, who feels that if you’re not healthy and don’t feel good, how can you possibly run an effective mortgage business? Here are a few more ideas to help improve your physical well-being.