July 7: Mortgage jobs; financing options increase; mortgage banker M&A; question on QM rental income underwriting
What is the job market like? I am still receiving comments like this: “My office has had a ton of LOs leave. Only two were […]
Month: July 2014
July 3: Vendor and mortgage insurance company news; the unemployment data’s impact on rates
This weekend, between the BBQ and waiting for fireworks, or dodging hurricanes, don’t make the mistake of playing the parlor game of making a list […]
Per the CFPB guide, LO Compensation rule was designed because “there was significant concern about the incentives that loan originators have to steer consumers into more expensive loans in order to increase their own compensation”. Now, QM’s coming into effect has put a cap on the broker’s compensation through its 3% points and fees test. Why should the consumer, who gets a qualified mortgage, be restricted to get a more beneficial mortgage by not allowing brokers to decrease their compensation? It’s time to think about a consumer who gets a qualified mortgage.
In July 1776, the estimated number of people living in the newly independent nation was 2.5 million. (Nowadays, this is approximately the number of people […]
July 1: Mortgage jobs; Stearns vs. Prospect verdict; FinCen & Fannie Mae; we’re done with half of 2014 already?
The latest on jumbo IOs? Reporter Dan Goldstein addressed the subject in the weekend edition of the WSJ. They aren’t dead, and may be coming […]