Loan Think

If only, if only. If it weren't for a handful of revolutions/evolutions in the Middle East and rising oil prices ($108 a barrel this morning) the U.S. economy might be humming along at a nice clip. Then again, even with oil prices rising by so much the past two months hiring has picked up. But how long can it last?

We seem to be bombarded daily with some new fangled way to generate business. We are not even talking about all of the hype most products and programs have. That’s for a whole separate article.

We got us a government shutdown. Or maybe not. The story (to say the least) is fluid, but if Uncle Sam has to pull the plug on non-essential workers and programs what will become of FHA, whose money comes directly from the U.S. budget?

The main reasons businesses look to market their services is to demonstrate what makes them stand out from the crowd, the stuff that makes them different from their competition.According to one marketing expert, small businesses are failing at this.

Here's a pop quiz for readers of National Mortgage News: name one Wall Street or mortgage executive who's doing hard time for financial fraud as it relates to the nation's housing bubble/subprime crisis. Can't do it, can you.

A lawsuit filed Monday in Hennepin County District Court in Minnesota by Attorney General Lori Swanson alleges that Meredian Financial Corp. of Costa Mesa, Calif., pretended to be homeowners' current mortgage company in order to gain their trust, then collected fees for refinancing services that were not delivered.

Sometimes, when the government goes too far, the industry finds a way to cut "the man" out of the picture. No, I'm not talking about mortgage bankers taking up arms against the government, I'm talking about finding ways around "the man." (Mortgage banking is an art, not a science.)

This morning National Mortgage News was the first news organization to report that loan brokers won a stay against the LO compensation rule – but the battle is far from over. The stay expires next week with a new hearing on the squabble scheduled for April 5. (See the NMN website for a complete update.)

The number of completed foreclosures in Massachusetts dropped by 44% in February to 515, down from 917 during the same month last year, according to new figures released today. Of course, the Massachusetts housing market is probably one of the healthier ones in the nation, which is why the decline in foreclosures is so steep.

I have a friend who manages 12 apartment complexes. He has tracked the turnover rates of tenants and year in and year out, 62% of the tenants move after one year. Another 28% move out after the second year and the remaining percentage live in the complex three years or more.