Loan Think

It may sound crazy, but some mortgage executives I know are starting to talk about a coming shortage in homes to buy.

Every successful loan officer has a "to do" list. But, consider what your life and your income would be like if you write down the things you will stop doing, the stuff that wastes your time and costs you money.

On Monday the Federal Reserve's point man on loan officer compensation, Paul Mondor, was a no show at a legislative conference sponsored by the National Association of Mortgage Brokers. From what I understand, the week prior he had accepted an invitation to speak at the meeting — but that was before NAMB sued the Fed over the very same loan officer comp rule.

Our industry is going thru some major changes. Just when you thought you had seen it all we are now faced with some additional changes related to loan officer compensation. To me it feels as if we have been kicked, beaten up and are now being spit on while we are lying on the ground.

Mortgage originators that have been quietly trimming heads the past two months may want to call back some of their laid off workforce. Tuesday morning, the yield on the benchmark 10-year Treasury was down in the low 3.2% range compared to almost 3.8% a few weeks back.

In the neighborhood I live in, the bagel business is highly competitive. There are six stores that specialize in the product in my zip code and the adjoining one.

If anyone thought the nation's megabanks were going to take the "regulators' medicine" with their mouths widen open, they thought wrong.

AB 406- This bill would PROHIBIT BALLOON PAYMENTS from being included in the terms of an adjustable rate loan, as defined, for real property containing one to four residential units secured by a mortgage or deed of trust on real property.

THIS JUST IN: With fears mounting that the government may soon radically alter servicing compensation, at least one Wall Street firm is making the rounds offering a “sale leaseback” deal to some of the nation's largest holders of MSRs.

It used to be that if Fannie Mae did something it was a sure bet that "little brother" Freddie Mac soon would follow. But that may not be the case on revamping how servicers are paid by the GSEs.