Loan Think

So, which presidential candidate knows the most about mortgage banking? Newt Gingrich who gave invaluable advice to Freddie Mac, telling that GSE to avoid subprime acquisitions? (If only, Freddy had listened!)

One of the major challenges we as an industry are facing is survival. Like it or not, the mortgage industry is undergoing a change at least as cataclysmic to us as global warming is to the penguins of Antarctica.

"Nothing happens until something gets sold!" My regular readers have heard this phrase before, and whether or not you agree with the concept, the practical aspect of that application cannot be denied. Furthermore, it's all in the technique.

Whether the servicing operation is owned by a bank with an origination arm or not, HARP 2.0 represents both a great opportunity and a real risk for mortgage servicers.

Before Barack Obama was elected president residential mortgage debt in the U.S. was actually larger than outstanding Treasury debt. At yearend 2009 home mortgage debt peaked at $10.1 trillion. Today that number is a $1 trillion lower - according to figures compiled by National Mortgage News and the Quarterly Data Report.

A trio of loan officers from the same Chicago-based company occupies three of the top four spots in the preliminary results of the Origination News 2011 top producer survey.

The media has been flooded this past week with positive news on the housing market. Sales of existing homes show definite signs of life and construction jobs are rebounding, making it is easy to sit back and breathe a sigh of relief. However, in taking a second look, it is important to keep in mind that we are not out of the woods yet.

On Feb. 16, a federal grand jury in Tucson returned a four count indictment against Rex Adams for Conspiracy to Commit Wire Fraud, and False Statement to Influence a Financial Institution. At the time of the allegations raised in the indictment, Adams worked as a manager and loan officer for a mortgage broker in Tucson.

Is outsourcing American jobs -- white collar jobs, no less -- evil? Is it a bad thing to set up a servicing acquisition company in the Caymans because by doing so you can avoid paying both income taxes to your executives and corporate income tax?

My posting last Monday talked about gathering testimonials. Now I want you show you how to take those testimonials and utilize them in your business. Here are a few ideas to get you started: