Home Mortgage Guide

More often nowadays, individuals believed that it would certainly be much better if you will be staying in the city. It is because there are more opportunities and much more choices for anybody. For those individuals who have been living and were raised in a rural location, for certain they are very curious as to the urban style of living. In the city, you will find much more people to encounter, much more jobs offer, a lot more things to see, much more things to buy and a lot more reasons to live. Nonetheless, those individuals who have been residing …
Read Rest of Be Inspired With Big Lights In City Homes For Rent

MORTGAGE COMPLIANCE

According to news reports circulated since August 27, 2010, the HECM Saver is on the way! Sources are alleging a conference call with Vicky Bott, HUD’s Deputy Assistant Secretary, in which she supposedly announced plans to implement a new variant of the Home Equity Conversion Mortgage, referred to as the "HECM Saver," that will provide seniors with a reverse mortgage option that significantly lowers upfront costs by virtually eliminating the upfront Mortgage Insurance Premium that is required under the current HECM …
Read Rest of FHA: HECM "Saver" – Uncorroborated

Post off-topic ideas, links and Craigslist finds here
Read Rest of Bits Bucket For September 1, 2010

 
I was talking to a correspondent rep yesterday, and he said, "I just got the best question from a client. The client (not a mortgage banker or broker) asked, "Hey, we have a borrower that up until now has been using a social security number that was ‘not issued by the Social Security Administration’. They now have a green card and a …
Read Rest of FHA insurance impact; FDIC transparency; New wholesale & non-agency investors; Fannie appraisal adjustment

COMMENTARY

by Jonathan Foxx
Jonathan Foxx, former Chief Compliance Officer of two publicly traded financial institutions, is the President and Managing Director of Lenders Compliance Group, the first full-service, mortgage risk management firm in the country.
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WHO’S IN CHARGE HERE?
I never blame myself when I’m not hitting. I just blame the bat and if it keeps up, I change bats. After all, if I know it isn’t my fault that I’m not hitting, how can I get mad at myself? …
Read Rest of NEW RULES FOR MORTGAGE ORIGINATORS: Reformation and Regulations

People who are in the process of buying a house or property should not only consider the price of the house. Make sure that you stop and regard some social factors about the house. Make sure that even if you have the money to buy the property you still stop and consider some of the factors that affect you and your family when you buy the house. This article will help you to check some of the social factors that needs checking when buying a house.
Number one thing you should look at is the noise level inside the house coming …
Read Rest of Tips For House Buying

Post off-topic ideas, links and Craigslist finds here
Read Rest of Bits Bucket For August 31, 2010

 
Bill Coppedge is ON VACATION and OFF THE GRID. 
The news clips portion of this blog returns Tuesday, September 7.

Read Rest of News Clips returns September 7

Earlier this month I mentioned that buybacks are, and are expected to be, a big issue for many originators regardless of size. Two of the most common reasons for repurchase are the discovery that the borrower has debts that were not disclosed to the lender/investor, and problems with appraisals. Buybacks tend to flow from Fannie and Freddie to the large investors …
Read Rest of Broker comp in the news; Warehouse changes; News from USB, Flagstar, Pyramid, UB, Wells; Servicer rankings

The August commentary is an excerpt from Pat’s presentation, "Cradle to Grave:  The Economic Crisis and Recovery", given Sunday, August  22 at the Mortgage Bankers of the Carolinas Convention in Hilton Head, South Carolina.
In the this month’s commentary:

Reviving the Economy – To Push or Not to Push
Will the Economy Rise from the Dead?
Mortgage Markets in 2010 and 2011
Lenders with One Foot in the Grave

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Read Rest of Cradle to Grave: The Economic Crisis and Recovery – by Pat Cutler