Loan Think

Apple co-founder Steve Jobs revolutionized the computer, phone and music industries. But mortgage banking? Okay, so Apple (from what we know) has no designs on mortgage banking, but it's interesting to think about it because the inventor of the iPhone/iTouch/iPad and other gadgets is sitting on roughly $100 billion of cash and securities.

According to Federal Reserve chairman Ben Bernanke in a speech at the National Association of Home Builders International Builders Show in Orlando, "The state of the housing sector has been a key impediment to a faster recovery."

Over the last 20 years you have all heard me speak of this agency. All federal financial institutions have to file Suspicious Activity Reports with it. The filer may not reveal to anyone this has been done under criminal penalty. The filer does it in good faith and does not even have to be right. It reaches the desks of the FBI, Secret Service and local prosecutors.

First things first: Yes, I can live on $500,000. Heck, I can live on $250,000 a year. Would I like to run Fannie Mae, the government-controlled mortgage giant? Answer: Sure, why not? But first I have a few stipulations.

Recently, we called a trader of nonperforming loans who said quickly, "Can't talk right now. Way too busy." Later on we finally spoke and the message delivered was quite clear: the market for underperforming and nonperforming mortgages appears to be gathering steam.

So your underwriter wants to work from home? Beyond the concerns most employers would typically have, financial services firms must carefully consider the security of private customer financial data before deciding whether, how and which employees can work remotely.

Most of use would agree that mortgage business is tough these days. Guidelines tightening, rules changing, compliance issues, companies downsizing. There can be a crisis on every turn and plenty to worry about on a daily basis. In fact, you could let the stress of the business overwhelm you to the point that it affects your health, and ultimately even the number of your days.

Perhaps, banks that have been exiting the residential finance space will look really stupid if housing and mortgages recover. Figures released Thursday suggest that delinquencies are falling but a huge overhang of foreclosures is on the way. Corporate earnings are at record levels, employment is rising, and just maybe, maybe housing is on the mend. But a huge stumbling block remains: ultra tight underwriting standards.

Taking a trip? Most prudent travelers create some sort of plan before venturing on any type of journey. Where to begin the trip, what items to pack and what markers you'll encounter to aid in getting to your destination are just a few of the details to be addressed.

Last summer when MetLife revealed that it would sell its "forward" mortgage business the company did something smart for its workers: it paid for its loan officers to take classes and obtain their state licenses.