Loan Think

Plenty of executives in the industry are still trying to figure out what IBM is up to in the servicing space, a situation complicated by the fact that 'Big Blue' continues to keep the "cone of silence" (rent the old 'Get Smart' TV shows to understand that cultural reference) on whatever it's up to. The big unanswered question is this: is IBM buying MSRs or just subservicing?

Now before your BS antennae go up let me tell you that we really will share a little known yet highly effective technique with you that will get you free advertising.

U.S. consumers are feeling more confident about the economy, and it appears the unemployment rate is on the way down, but will it be enough to kick start the moribund home buying market? Mortgage bankers – thanks to refis – are staffing up and anticipate at least two more strong quarters on the production front.

The two federal agencies that have a stake in regulating consumer privacy issues, the Department of Commerce and the Federal Trade Commission, are expected to issue recommendations for a privacy regulatory framework.

An American Indian bank, Oklahoma City-based Bank2, wants to partner with New Mexico tribal housing entities to drum up more Indian mortgages in the state.

I've never been in the camp of those predicting that commercial real estate would experience the same type of ugly bubble seen in the residential sector. Don't get me wrong, CRE has been nicked pretty good, especially "commercial" loans that funded tract development and home building. (Also, the New York 'Stuy-town' disaster will be studied in B-Schools for years.)

LEHMAN BROS., which failed in 2008 while holding bad real estate loans, on Nov. 15, filed suit against NATIONFIRST LENDING INC., an Irvine mortgage company for allegedly misrepresenting the strength of loans it sold to the Wall Street firm. The lawsuit, filed in federal court in Los Angeles, alleges that Nationsfirst Lending Inc. misrepresented the identities of borrowers, the value and condition of property securing the loans and the validity of loan documents. NATIONSFIRST is listed as a suspended corporation on the California Secretary of State website.

First we would like to wish you and your families a Happy Thanksgiving. We hope you get to spend some time with family and friends over the holiday weekend. OK, let’s say it—this year has been a struggle for some and a decent one for others. The reasons for that we’ll discuss in future articles as they are many and varied.

The goals of any marketing campaign include keeping the company's name out in front of the public as well as giving the public a reason to come into the company's offices. A British bank and mortgage lender may have found an offbeat way to achieve both of those.

The National Association of Realtors wants to make it very clear: if it weren't for stingy mortgage bankers and certain appraisers, home sales would be better.