Loan Think

Field service companies must continuously evolve their best practices to develop and maintain the most effective vendor network possible. Key areas of focus are: recruitment, training, diversity and technology.

Interactive Mortgage Advisors is offering a $4.5 billion MSR package with another $1 billion in the works. Phoenix Capital is peddling $35 billion of MSRs for Bank of America - with more on that way.

FACTS - On Jan. 30, William Tro Goings of Sacramento, Calif., pleaded guilty in federal court to participating in a conspiracy to commit wire fraud for his role in a mortgage fraud scheme that defrauded a failed Sugar Creek, Mo. bank of more than $8.5 million.

What is pro-active credit repair? Before I answer that, let's define re-active credit repair. As the president of a credit repair backend processing company, I have the good fortune to counsel with mortgage and real estate professionals as well as credit service organization company owners from all across the county on a daily basis.

Larry Fink, chairman and CEO of BlackRock Financial, is nobody's fool - not by a long shot. He cut his teeth at First Boston many moons ago, helped shape the MBS market, and then went on to create a financial services powerhouse: BlackRock

When it comes to appraisals, the key words in today’s market are quality and defensibility. Inaccurate valuations result in serious risk. When loans go sour, no investor or lender wants to be the one stuck holding the bad loan. Today, the threat of a forced buyback, or even follow on legal action, is all too real.

Often, companies adopt more aggressive compensation strategies hoping to maximize their competitiveness in the market. To do so, they will adopt practices that "sound" compliant but in actual practice clearly violate compensation rules. In other words, they have contracts that say one thing but practices that in fact violate the rules.

Break out the bubbly! The Bureau of Labor Statistics has reported that the unemployment rate in the U.S. dropped from 8.5% to 8.3%. According to BLS numbers, U.S. non-farm payrolls grew by 243,000 jobs in January, up from a revised 203,000 jobs in December 2011.

Will Clint Eastwood walk through the streets of Minneapolis, proclaiming how the U.S. mortgage industry is back? If you're not sure what I'm talking about, go see last weekend's Chrysler/Fiat commercial during the Super Bowl. (As an aside, I think the whole political take on that commercial has been blown way out of proportion.)

At the start of the time most people waste time conjuring-up goals and tasks they think will make a difference in their life. Sorry to be the bearer of bad news, but it's been proven time and again that most resolutions are ignored or just disappear after a few days (months for the real ambitious) of the new year.