Wed, Apr 20 2011, 11:33 AM
Lee Farkas, the former chairman
of Taylor, Bean and Whitaker Mortgage Corp., was found guilty on all 14 charges
stemming from a seven-year, multibil...
Tue, Apr 19 2011, 11:53 AM
We now live in a world with higher annual FHA premiums. Private MI companies, of course,
are understandably quick to point out the price difference w...
Mon, Apr 18 2011, 11:11 AM
This Friday is Good Friday. But today is not so "good" for our government,
as S&P cut its US debt rating outlook to a "negative"
given the debt & ...
Fri, Apr 15 2011, 9:35 AM
Two soap operas created more than
40 years ago, who taught us not to bother getting married since it's only going
to last until next season anyway, ...
Thu, Apr 14 2011, 10:58 AM
Yesterday
Reuters ran a story saying, "A proposed rule requiring a minimum 20% down
payment on mortgages that lenders could then sell to investors w...
Wed, Apr 13 2011, 10:33 AM
Let me add a clarification to
the Ops Manager job listing from yesterday . The company is merely shifting
responsibilities as they grow, and the ...
Tue, Apr 12 2011, 10:12 AM
I continue to receive input from
the origination "trenches. "'Safe Harbor' against the steering
provisions in the new LO Compensation regulation is ...
Mon, Apr 11 2011, 11:35 AM
Western Springs National Bank and
Trust (IL) was closed Friday by the OCC, which in turn appointed the FDIC as
receiver, which, in turn, entered int...
Fri, Apr 8 2011, 10:51 AM
Rain or shine, whether or not the
US government is closed or open, the US Treasury will be open next week to
auction off $32 billion in 3-yr notes, ...
Thu, Apr 7 2011, 10:36 AM
Did the
Texas owner of the company "America's Best Mortgage and Creative
Solutions" in St. Martinville, LA get a little too "creative"?
She is accu...
Wed, Apr 6 2011, 9:43 AM
Under the just-made-up category
of "If you can't build 'em, join 'em," Beazer Homes USA is
officially entering the rental business , as the home bu...
Tue, Apr 5 2011, 9:37 AM
Mark
Twain wrote, "The only difference between a tax man and a taxidermist is
that the taxidermist leaves the skin."
It is "tax time" for many
...
Mon, Apr 4 2011, 9:55 AM
Buffalo
Springfield wrote, "There's something happening here, what it is ain't
exactly clear..." But there is one movement that appears to be cleare...
Fri, Apr 1 2011, 4:04 PM
Yes,
the earlier commentary was the yearly April Fool's edition. But in the
"truth is stranger than fiction" category, the U.S. Court o...
Fri, Apr 1 2011, 2:35 PM
On the eve of being enacted, in a
surprise move, Senator Dodd called on Congress to rescind the Dodd-Frank
legislation , saying the rules and regul...
Thu, Mar 31 2011, 9:53 AM
Here's one succinct note that I received regarding Reg. Z: "I am really sick of this comp crap." Another
wrote, "Next week will be very exciting, a...
Wed, Mar 30 2011, 9:56 AM
Harkening back to the Prius'
brake recall issue, this bumper sticker was seen: "TOYOTA: Once you drive
one, you'll never stop." Pun aside, I would i...
Tue, Mar 29 2011, 9:53 AM
How much house is too much house in Michigan? 50 cent is only half of a dollar.
Today the FDIC Board will vote on a credit risk-retention prop...
Mon, Mar 28 2011, 10:30 AM
Did
anyone from your county move in 2008? It is not my job to keep track of them -
but someone does. Privacy issues aside, Realtors may find this in...
Fri, Mar 25 2011, 10:22 AM
According to a story in the Financial
Times , "The five biggest US mortgage servicers were told this week
at a private meeting with regulators ...
Thu, Mar 24 2011, 9:46 AM
Six Federal agencies have to sign
off on the QRM provisions, and apparently the first will be early next week. Early
next week the FDIC opines on, "...
Wed, Mar 23 2011, 11:34 AM
What am I
hearing out there? I am hearing, not officially, that wholesale reps are having
trouble drumming up business from brokers. Production esti...
Tue, Mar 22 2011, 9:49 AM
The U.S. Treasury announced that it will
begin an "orderly wind down" of its $142 billion MBS portfolio over
about 1 year by selling roughly $10 bil...
Mon, Mar 21 2011, 10:47 AM
Last Thursday, while on a tour of the Chicago Mercantile Exchange, my
son and I met and chatted with Rick Santelli, who many know as CNBC's
financ...
Fri, Mar 18 2011, 10:13 AM
What does Chase think
about a U.S. proposal to exempt certain mortgages from rules governing
securitized loans? That it may unintentionally help t...
Thu, Mar 17 2011, 11:30 AM
Don't forget to wear a little
green today. Everyone here in Chicago knows that St. Patrick is best known for
introducing Christianity to Ireland in ...
Wed, Mar 16 2011, 10:34 AM
Lenders that act as both mortgage brokers and mortgage bankers need to pay
attention to this recent court ruling, noted by law firm BuckleySandler .
...
Tue, Mar 15 2011, 10:44 AM
The earthquake in Japan is no
laughing matter. Just ask Aflac - it fired comedian Gilbert Gottfried as the
voice of its duck after a series of Twitt...
Mon, Mar 14 2011, 11:44 AM
In the
old days, Realtors' advertising was simple and straightforward. Maybe
even "old fashioned." Now? RealtorRap
Wouldn't it be somethi...
Fri, Mar 11 2011, 11:10 AM
In a story that first broke on Mortgage
News Daily's MBSonMND live chat yesterday morning, Dave Stevens has
resigned from his position as FHA c...
Thu, Mar 10 2011, 12:51 PM
For some time now, a foreclosure settlement has been in the
works. In yet another leaked report, the supposed proposals that state
attorneys gener...
Wed, Mar 9 2011, 10:53 AM
Remember today is Ash
Wednesday, the first day of Lent.
This
commentary has made comments in the past about how reverse mortgage originators
c...
Tue, Mar 8 2011, 9:58 AM
This is
kind of exciting: a new website. It was created by home builder Lennar, showing
how/why buying a new home is better than buying a foreclosur...
Mon, Mar 7 2011, 11:38 AM
Late in 2010, mortgage bankers
seemed to be scrambling for warehouse lines. Now that things have quieted down
need-wise, how is the warehouse biz do...
Mon, Mar 7 2011, 11:15 AM
In
speaking to various groups, one question that always comes up is whether or
not 30-yr mortgages are going away . After all, most other countries...
Fri, Mar 4 2011, 11:10 AM
My computer is back up and
operational. It turns out that running two virus security systems
simultaneously pretty much shuts down your computer - I...
Wed, Mar 2 2011, 11:44 AM
Merrill Lynch/BofA's analysts
took a look at HARP, and whether or not it should be extended. The FHFA
has a number of choices regarding HARP. "We se...
Tue, Mar 1 2011, 9:49 AM
These 13 pages should
help in answering some of the compensation questions out there: MBAQ&A
The Q&A document noted above was
published by ...
Mon, Feb 28 2011, 10:21 AM
"Qualified Residential Mortgages" is not an everyday topic of conversation but perhaps should be .
Who is going to have "skin in the game"? Here is ...
Fri, Feb 25 2011, 10:03 AM
A servicing
"settlement", mentioned yesterday, certainly has the
industry roiled - especially BofA and Wells Fargo, who together service nearly
$4...
Thu, Feb 24 2011, 10:47 AM
Whoever thought that loan servicing would be so exciting? If
you think that a servicer earning 25 basis points every year is earning
too much if ...
Wed, Feb 23 2011, 11:01 AM
Originators and borrowers are often faced with the "rent versus own" question, with varying results. Here is an INTERACTIVE CALCULATOR
Homeo...
Tue, Feb 22 2011, 9:47 AM
What is the public hearing and seeing regarding the April Fool's Day changes?
"Starting April 1, under a new compensation rule from the Federal
R...
Fri, Feb 18 2011, 10:57 AM
There's a saying, "We are born naked, wet, and hungry. And then things get worse." But perhaps, just perhaps, smaller mortgage brokers and bankers won...
Thu, Feb 17 2011, 9:52 AM
They've barely cleaned up the confetti from the Super Bowl parade, and already baseball's spring training is upon us. Here is something non-mortgage r...
Wed, Feb 16 2011, 11:06 AM
The jumbo market is taking baby steps in the right direction. Redwood Trust Inc .
is marketing a $280 million residential mortgage-backed security,...
Tue, Feb 15 2011, 11:17 AM
MERS is not allowed to transfer mortgages, and cannot act as an agent of the banks that own mortgages?
So ruled a judge in New York, who added that...
Mon, Feb 14 2011, 10:19 AM
Valentine's Day...Opinions differ as to who was the original
Valentine but the most popular theory is that he was a clergyman who was
executed for...
Fri, Feb 11 2011, 12:37 PM
Word had certainly leaked out about the proposals for Freddie and Fannie that have come out this morning . Reuters broke out a set of options yesterd...
Thu, Feb 10 2011, 9:55 AM
The latest comp news comes from the National Association of Mortgage
Brokers (NAMB), which, through a call-in campaign, apparently has
spurred on ...
