Loan Think

Are Fannie Mae and Freddie Mac on different pages when it comes to restructuring their servicing fees? That's hard to say because executives at both GSEs aren't exactly sharing their innermost feelings on the topic with me (though if they want to please email me at: Paul.Muolo@SourceMedia.com).

Two weeks ago today I had an operation that caused me to lose my voice. Now before you go ahead and say, “Who cares?” Let me share the marketing lesson with you.

Every few years we see some analyst/advisor issue a report that says M&A deals are usually a waste of time and are rarely worth the money spent on them. Boy oh boy, does that ever apply to Bank of America and its purchases of both Countrywide Financial Corp. (the house that Angelo built), and Merrill Lynch.

For those looking to start or grow a small business in 2011, they need to have marketing plans that are more creative and innovative than ever before, declared one expert.

The Fed Sued Over LO Comp. What's Next?

ML 11-02 –Quality Control Plans must be updated. QC plans must now provide for monitoring third party originators and underwriters. Review must include thresholds based on volume, past experience and other factors as set forth in 4060.1 Rev 2, Para. 7-6. QC Plan must include methodology of review, results and corrective actions taken.

On Monday the National Association of Independent Housing Professionals is expected to file suit against the Federal Reserve Board, seeking to block its loan officer compensation rule, according to officials familiar with the situation. The civil action will be filed in U.S. District Court for the District of Columbia.

The Law of Continuous Process Improvement begins with the concept that a plan is needed in every area of your business and your life. But every plan requires continuous analysis and adjustment to find the way forward. Even basic task need a plan and a process of continuous improvement.

Mortgage lenders and servicers should've been drinking champagne this morning. The national unemployment rate fell below 9% which means (in theory) that fewer mortgagors will default on their loans, and a whole new crop of employed citizens might feel good enough to buy a home this spring. But if only it were that simple.

As we noted in a recent column, wholesalers have been sending out new compensation contracts to their loan brokers. Some brokers I've interviewed are none-too-pleased with what they've seen while others are learning to live with the situation.