Latest Rob Chrisman Articles

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Rob Chrisman's Daily Commentary

For the past 10 years Mortgage News Daily has provided our readers with Rob Chrisman's daily commentary.

NEW Compliance Officers Face New Era of Home Lending Risks

Tue, Jun 28 2011, 2:52 PM

[I am away from the computer on a daily basis, and my access to e-mail is sporadic and not timely. In my place are daily commentaries from a series ...

NEW Common Sense Strategies for Mortgage Operations Meetings

Mon, Jun 27 2011, 11:05 AM

[I am away from the computer and my access to e-mail is sporadic and not timely. In my place are daily commentaries from a series of very knowledgeabl...

NEW MortCap on Hedge Capacity Utilization & QRM

Fri, Jun 24 2011, 2:31 PM

[I am on vacation, and my access to e-mail is sporadic and not timely. In my place are daily commentaries from a series of very knowledgeable mortga...

NEW The Evolution of Internet-Based Mortgage Lending

Thu, Jun 23 2011, 10:13 AM

[I am on vacation, and my access to e-mail is sporadic and not timely. In my place are daily commentaries from a series of very knowledgeable mortga...

NEW Confessions of a Mortgage Banker: Communicating the Truth

Wed, Jun 22 2011, 11:39 AM

I ask those of you in the mortgage industry with me to help broadcast the truth, the reality that has become the new mortgage industry. Speak out in...

NEW Reverse Mortgage Exit Motivations; Assessing Counterparty Risk; TILA & HOEPA Fee Based Triggers; HUD Training

Tue, Jun 21 2011, 11:34 AM

Today we have, in the Northern Hemisphere, 5 hours and 14 minutes more daylight than the winter solstice six months ago. For the most part it is s...

NEW Industry Opinions: Financial Education, Underwriting Regs, TBTF, Mortgage Insurance

Mon, Jun 20 2011, 12:13 PM

How hard is it to create a new currency in a digital age? DigitalMoney = DigitalThieves Reader feedback on current industry trends, borrower...

NEW Wells Fargo Exits Reverse Mortgage Business; Harmony Loan Product; LPS Sees Fewer Defaults; Radian Loosens Regs

Fri, Jun 17 2011, 11:23 AM

"Mama just hung her head and said, 'Papa was a rolling stone. Wherever he laid his hat was his home...'" The U.S. Census Bureau announced that a...

NEW Feedback on VA Interest Rate Reduction Loans; HUD Career Opportunities; Fewer Free Checking Accounts

Thu, Jun 16 2011, 9:46 AM

The idea of Father's Day was conceived slightly more than a century ago, not by Hallmark Card or Weber Grills, but by Sonora Dodd of Spokane, Wash...

NEW Financial Literacy and "Rational Ignorance"; More Leadership Shuffling; Ginnie Mae HMBS; Prepay Perspective

Wed, Jun 15 2011, 12:46 PM

s California goes, so goes the nation? If that is still mostly true, here is a shift in housing demand that may be worth noting: UrbanRentals ...

NEW Common Reasons for Declined Loans; Using the NMLS Logo; Broker Marketshare Feedback; Loan Limits

Tue, Jun 14 2011, 10:01 AM

The parent of Marie Callender's restaurants (around since 1964), who also owns Perkins Restaurants & Bakeries, has filed for bankruptcy protection a...

NEW Brokers' Market Share Falls to New All-Time Low in 1st Quarter; Call Report Deadline; Feedback from the Trenches; Investor Bulletins

Mon, Jun 13 2011, 9:53 AM

"The evening news is where they begin with 'Good Evening,' and then proceed to tell you why it isn't." So I won't say "Good morning." As Wells Fa...

NEW NAHB Construction Outlook Downgraded; Feedback on REITs; Loan Modification Stats; Foreclosure Scrutiny Delays Ally IPO

Fri, Jun 10 2011, 1:07 PM

If someone "about scares you half to death" twice, what happens? What home builder economists lower their predictions twice, what happens? HomeBui...

NEW Fannie Prepay Speeds vs. Freddie Prepay Speeds; Aggressive HUD Training Schedule; REITs; Median Income Limits

Thu, Jun 9 2011, 10:30 AM

"I used to be indecisive. Now I'm not so sure." But one thing that I am sure of is transparency. Sterne Agee released prepayment information, impo...

NEW Leadership Changes at Freddie Mac; Overzealous Regulations; CMBS Redefault Rate; Fed Sees Second Half Bounce

Wed, Jun 8 2011, 11:14 AM

Fun with numbers...In the 2010 Census, for you reverse mortgage lenders, seven states had a median age of 40 or older: Maine (42.7), Vermont (41.5),...

NEW Risk Retention Comment Period Extended, Feedback Still Needed; Goldman Selling Servicing Division; Fannie/Freddie Updates

Tue, Jun 7 2011, 9:54 AM

How long have you had your bank account? 5 years - not bad. 10 years - good. 20 years - a loyal customer. How about since before WWI: DoesThatCome...

NEW Underwriters Who Must Comply with SAFE Act Licensing; Jobs Down But Shops are Hiring; Anyone Left to Refinance?

Mon, Jun 6 2011, 12:23 PM

Studies find it takes 2,000 times more energy to produce and ship bottled water than tap water and it costs 10,000 times more per gallon. It also ta...

NEW Feedback Needed: Risk Retention Comment Period Almost Expired

Fri, Jun 3 2011, 12:34 PM

Here we are on June 3 rd , which means we have 7 days left to comment on the Qualified Residential Mortgage (QRM) provisions . If you thought that ...

NEW Post-Closing's Impact on Hedging Costs; Bank Liquidity and Required Reserves; ADP's Accuracy; NMLS Training

Thu, Jun 2 2011, 9:34 AM

My girlfriend thinks I'm a stalker. Well, she's not exactly my girlfriend - yet. Given yesterday's economic numbers, suddenly the market thinks ...

NEW Ginnie Mae Issuance in April; FHA Wholesaler with Limited Overlays ; Account Exec Job Opening; Investor Bulletins

Wed, Jun 1 2011, 9:44 AM

The north Atlantic hurricane season begins today and lasts through Nov. 30. Per the U.S. Census Bureau nearly 37 million people in the US live in ar...

NEW HUD Addresses Upcoming Reduction in Loan Limits; Foreclosure Moratoriums Back; Repurchase Requests Down

Tue, May 31 2011, 12:17 PM

Anyone lending in "higher loan amount areas" should read the latest from HUD on the probable/possible changes that will take place on October 1. "Ba...

NEW Pipeline Hedging Costs; Servicer Single Point of Contact; High Concentration of Foreclosures; Looking for Jumbo Lender?

Fri, May 27 2011, 9:21 AM

I saw a poor old lady fall over today on the ice!! At least I presume she was poor - she only had $1.20 in her purse. That is probably not eno...

NEW Mortgage Reforms Threaten "Tsunami" of Burdens on Industry; Revisiting Rural Housing; Feedback Needed on New Disclosures

Thu, May 26 2011, 10:32 AM

Sorry the commentary is a little late this morning. My neighbor pounded on my wall at 2:30 AM this morning. Can you believe that...2:30AM?! Luckily...

NEW Goldman Sachs Buying Up Jumbo Mortgage Product. More Lenders Chasing Non-Agency Deals; Appraisal Feedback

Wed, May 25 2011, 10:13 AM

Pssst... Goldman Sachs is in buying jumbo mortgages . "Goldman has been stockpiling jumbo mortgages at a rate that far exceeds the buying activity ...

NEW Declining Productivity in Home Lending; 620 FICO FHA Buyers; Non-Agency Product Funding; Google Mortgage Advisor

Tue, May 24 2011, 11:16 AM

We can bicker over underwriting guidelines, disclosure documents, or turn times, but the flooding and tornado disasters that have befallen many stat...

NEW Customary and Reasonable Fees: Appraisers Under Fire

Mon, May 23 2011, 11:29 AM

I don't know if this quite falls under the "No good deed goes unpunished" category, but the proposed simplified combined version of the GFE and TI...

NEW Reg-Z and Non-Owner Occupied Properties; Insight on Muni Bonds; How Rating Agencies Evaluate Banks; More on Loan Origination Systems

Fri, May 20 2011, 12:18 PM

It is easy for originators to focus on daily rate sheets, mostly determined by what the MBS market is doing. But sometimes it helps to be reminded t...

NEW Correspondent Investors Question Purchasing Practices; Loan Origination System Discussion; GSEs Blocking Private-Label MBS Market?

Thu, May 19 2011, 10:03 AM

"Rob, I continue to hear rumors about rumors of large established correspondent investors possibly questioning their practice of buying closed loan...

NEW Big Banks Entrenched in Consumer Finance; Quicken Responds to Compensation Allegations; NAR Income & Age Demographics

Wed, May 18 2011, 9:58 AM

A hockey coach once said, "Last year we couldn't win at home and we were losing on the road. My failure as a coach was that I couldn't think of anyp...

NEW Originator Compensation Issue Back in Court; House Speaker Shares Thoughts on Housing; Freddie REO Sales Promotion; Loan Limits

Tue, May 17 2011, 12:08 PM

Sometimes you think things are one way, and they turn out to be different. Just ask Maria Shriver, who found out about Arnold Schwarzenegger and a l...

NEW The Push for Simpler Home Loan Paperwork; NAR on QRM; Cross-Qualification Requirement

Mon, May 16 2011, 10:40 AM

Seen on a doc drawer's bulletin board: "I don't mind coming to work. It's the 8 hour wait until going home that's killing me." Here is some new...

NEW Dodd-Frank:(Not) Addressing Too Big To Fail; New Mortgage Reform Legislation; Call Report Deficiency Deadline; Appraisal Buybacks

Fri, May 13 2011, 3:40 PM

We have 18 months until the presidential election, and already things are heating up. The financial community is closely following Donald Trump's ca...

NEW Banks Offer Settlement Terms in Servicer Suits; Comp Plan Confusion; Loan Limit Deadline; Declaring Bankruptcy to Void 2nd Lien

Thu, May 12 2011, 11:21 AM

My memory's not as sharp as it used to be. Also, my memory's not as sharp as it used to be. Along those lines I bet all the reverse mortgage...

NEW More Fannie vs. Freddie; Webinar: The False Claims Act and FHA Lending; Pipeline Hedging and Pull-Through Volatility

Wed, May 11 2011, 10:52 AM

Regardless of what my kids say, this commentary hasn't been around long enough to have ever been written by candlelight. But starting next year I wi...

NEW Fannie vs. Freddie Earnings; Loan Limit Reduction Ahead; Jumbo Market Chatter; Think Tank Opinion on GSEs;

Tue, May 10 2011, 10:31 AM

Yesterday I went through denial, anger, bargaining, depression, and acceptance - which are now the 5 stages of buying gas. Incidents of mortga...

NEW Banks Prepare for Fines and Penalties; HUD Waives Paperwork Requirement; Fannie Seeks More Aid

Mon, May 9 2011, 10:22 AM

Today the village of Plato, Mo., (population 109) will celebrate its selection as the "2010 Census Center of Population" with a little party. "The m...

NEW FHLB Piles on Lender Lawsuits; LLPAs and FHA Fees Limit Refi Incentives; Freddie Mac Correction; Investor Bulletins

Fri, May 6 2011, 10:37 AM

The driving force behind Mother's Day was Anna Jarvis, who organized observances in Grafton, W.Va., and Philadelphia on May 10, 1908. As the annual ...

NEW Freddie Mac Forgoes Additional Draw; FHA REO Inventory Jumps; Repurchase Requests Decline; Deutsche Bank Gets Sued

Thu, May 5 2011, 10:42 AM

Cinco de Mayo does not mark the discovery of tequila, but instead celebrates the legendary Battle of Puebla on May 5, 1862, in which a Mexican force...

NEW Failed MBS Trades and Loan Pipeline Hedging; CitiMortgage Layoffs; Thornburg Files Bankruptcy Suit; Dodd-Frank Pushback

Wed, May 4 2011, 8:47 AM

This plan is simple, like my brother-in-law Tony. But unlike Tony, this plan just might work. When an originator locks a loan with an investor o...

NEW Impact of QRM Reform on Credit Availability & Securitizations; Upbeat Mood at Secondary Conference; Ally Quarterly Results

Wed, May 4 2011, 1:21 PM

Last month marked the 151st anniversary of the Pony Express, the communications link from St. Joseph to San Francisco. News and mail took 11 days (w...

NEW Unintended Consequences of Risk Retention Reform: REO Purchase Mortgagee Letter; Zillow Giftcards; Scorecard Clarification

Mon, May 2 2011, 9:18 AM

Occasionally I receive e-mails that are worth saving. Like the one where someone wrote, "Your vocabulary is as bad as, like, whatever." And some web...

NEW Uniform Mortgage Data Program and Appraisals; Bank MBS Holdings; Obtaining IRS Tax Transcripts;

Fri, Apr 29 2011, 11:18 AM

Do boom and bust cycles in real estate only happen in the United States? Of course not: Boom&Bust Here's a campaign hitting the public: Zillo...

NEW Continuing Education: Pipeline Hedging Costs; Freddie Mac Delinquencies Decline; Job Openings, Investor Updates

Thu, Apr 28 2011, 10:32 AM

Fun with numbers: Freddie Mac's mortgage delinquencies on single-family homes declined in March from both month- and year-earlier levels. March's de...

NEW Housing Finance Reform: Bad Time for GSEs to Go Away; Banker MLO Licensing Deadline; Foreclosure Fines in California;

Wed, Apr 27 2011, 9:58 AM

Huh? Maybe Freddie and Fannie are not going to evaporate, which many in the industry were not looking forward to anyway: MSNBCAgencies One se...

NEW Buying a Condo vs. Buying a Single-Family Home; Feedback: Risk Retention & Ability to Repay

Tue, Apr 26 2011, 9:53 AM

The trivia for the day is, "Your tongue is the only muscle in your body that is attached at only one end." I bring this up because there will be ple...

NEW FICO Scores & Strategic Defaults; Older Vintage Jumbo RMBS Downgraded; Call Report Q&A; Industry Jobs

Mon, Apr 25 2011, 10:14 AM

In terms of powerful world figures, how does the FDIC's Sheila Bair stack up against Lady Gaga or Katie Couric? ForbesList For the 1st quarte...

NEW Insider Perspective: Reg Z Reform, Compliance Procedures, Realtor Pay

Fri, Apr 22 2011, 9:40 AM

For anyone out there who thinks the mortgage biz in the US has become confusing, spend 15 seconds scrolling down this story on establishing the mort...

NEW HomePath Buyer Incentive; Realtor Reform Feedback; NMLS Call Report; Sharp Drop-Off in Loan Production During 1Q

Thu, Apr 21 2011, 10:41 AM

The percentage of jumbo business that any originator does is, of course, very dependent on location. But what are borrowers thinking when it comes...

NEW TB&W Exec Farkas Facing Jail Time in Fraud Case; Realtors Off the Hook; Ability-to-Repay Reg Z Rule Change; DC Foreclosure Process

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...

NEW Capital Replacement Certificates: Possible QRM Solution for Smaller Shops?; Mortgage Interest Deduction Noise; Covered Bonds

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...