Loan Think

What We're Hearing

JPMorgan Chase chief Jamie Dimon took another (minor) swipe at loan brokers in today's earnings conference call (see the NMN website for details) but he also said something interesting -- that JPM soon will be "over capitalized," as will the banking industry. As for the wholesale/broker channel, there's at least one new entrant we can tell you about -- Total Mortgage Services of Connecticut. TMS is about to launch a multi-state initiative. And in case you missed it: the Real Estate Settlement Procedures Act now requires mortgage lenders/brokers and settlement agents to use the new Good Faith Estimate and HUD-1 Settlement Statement forms. Not sure what to do? Better lawyer up...

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