Loan Think

In the current issue of Origination News, I wrote an article that warned business owners about the damage an employee like former flight attendant Steve Slater can do to one's business.

THE BIG PICTURE: In the eyes of most of the business community President Obama can do no right. At least that's the way I view it. Perhaps I should stop talking to mortgage professionals and watching CNBC. The new unemployment numbers came out Friday and depending on which spinmeister you speak to, it was better than expected or a disappointment.

We continue to hear reports that a large Wall Street firm is laying the ground work to reenter the warehouse lending arena. Supposedly, the firm (whose identity I know but I'm trying to confirm for sure) is also planning the launch of a mortgage conduit as well. Meanwhile, H&R Block's stock price was up almost 8% in trading Friday morning to $13.40.

Believe me, spending time preparing and planning is never easy. But they’re critical. As residents of the Gulf Coast we know this all too well. Why? Because this is hurricane season and we’re constantly making sure we have plenty of flashlights, batteries, water, plywood, duct tape, easy-to-fix foods and plenty of wine (no sense in not being comfortable)!

Recently, National Mortgage News reported that although jumbo loan production is on the rise (refinancings mostly), the lenders funding these products aren't selling them into the secondary market.

We all know the one thing that is certain in life is change. And change is coming in a big way to the reverse mortgage industry. How you prepare and how you handle change tells a lot about you and your future in the business.

THE NUMBER OF NEWLY DELINQUENT HOME LOANS HAS RISEN FOR TWO STRAIGHT QUARTERS in what could foreshadow another surge in unemployment-related foreclosures.

The White House is supposedly working on some type of new program to aid the mortgage and housing markets with an announcement coming by mid-September. At press time details were sketchy but rumors are starting to float around Washington about what the plan might entail.

The stock market continues its August swoon. (Okay, it's up as of this writing but look for it to turn down by close of day.) As I've noted before, consumers with their wealth tied up in equities must be feeling pretty poor these days - jumbo borrowers especially.

As home sales numbers continue to decline, mortgage originators need be among the leaders of the pack in telling consumers why they need to buy a house now.