Loan Think

A handful of trade groups are about to send a letter to the Federal Reserve Board concerning its loan officer compensation rule. Their chief complaint (if I read the letter correctly) is the Fed's definition of "affiliate" which could spell major problems for Realty firms that broker loans — and lenders with title company affiliates.

This morning oil prices were nearing $100 a barrel thanks to the political crisis in Libya combined, of course, with conflagrations all over North Africa and the Middle East. Normally, rising oil translates into price increases for new homes because it takes gasoline to ship building materials around the nation.

In our past few articles, we have been discussing the one sentence that will generate more clients for you. Here’s the sentence: People will do anything for those who encourage their dreams, justify their failures, allay their fears, confirm their suspicions and help them throw rocks at their enemies.

A convicted financial crime felon, whose conviction has been widely reported in the press and which is known to every person working on the NMLS, submits an MU form and applies for a state MLO license.

The Consumer Confidence Index rose in February to its highest point in three years, which means Americans are feeling more optimistic about their income prospects and the direction the economy is headed – but will this newfound "happiness" translate into increased business for mortgage bankers and Realtors?

Many sales trainers talk about utilizing time management philosophy and techniques in order to maximize your productivity. But Anthony Signorelli begs to differ.

This past week Karen Sibayan of our staff broke the news about Redwood Trust’s second jumbo deal. But there's an interesting follow-up to the initial news that has not been reported on.

Next week Fannie Mae and Freddie Mac are expected to report their fourth quarter results – and no one (as might be expected) is looking for a blow-out quarter. Over the past year there's been plenty of chatter concerning when these two might (if) return to profitability.

Question: I am having a hard time getting repeat business from real estate agents and builders. My loans take too long and my customers are very unhappy with me. I want to build my repeat referral business with agents and builders, but they are not willing to give me another try.

As we all know, the "sand states" (Arizona, California, Florida and Nevada) have residential delinquency rates in the nosebleed territory, but guess which state is the subprime late payment king? That distinction belongs to Mississippi, which according to the Mortgage Bankers Association, has a subprime (FRMs, that is) total past due rate of 32.61%.