22
MAY
2017
Cut-fha-rates-poll-scissors

Is It Time to Cut FHA Premiums

The debate continues over whether FHA should reduce their required annual or up-front mortgage insurance premiums. A prior cut was canceled by the Trump Administration. Now with markets improving, the new HUD Secretary, Dr. Ben Carson, says FHA may consider a cut.   But, only if...
19
MAY
2017
non-mortgage-debt-is-up-refinance

Home Equity and Consumer Debt on the Rise

According to the Federal Reserve, the amount of consumer outstanding debt now exceeds the pre-2008 crisis levels. That means consumers owe more money today than they did back in 2008. The difference is in the makeup of that debt. Today, consumers owe more in combined non-mortgage...
18
MAY
2017
Get-back-to-work-congress

It’s Time to Get on With the Business of Business

I don’t know about you, but I am fed up with the political BS going on in Washington, DC with the President, his cabinet, tweets, conversations, and the election. It’s over! It’s time to get on with running the Country. The Democrats only interest is in...
17
MAY
2017
philadelphia-wells-fargo-discriminating-mortgage-rates-black-latino-white-lawsuit-

Who’s Discriminating Against Whom?

Unfortunately, Wells Fargo is back in the news. They are back this time on the wrong side of a suit brought by the City of Philadelphia. The City is going after Wells for discriminating against minority borrowers in their mortgage lending. They claim Wells charged higher rates to...
16
MAY
2017
Nurse-lo-critical-care-communication

What Would We Do Without Nurses?

I apologize for missing a blog post or two lately. I am recovering from some pretty major cervical surgery and it is tough to concentrate with this pain in my neck. Through my process, I spoke with my surgeon twice; once before and once after my procedure. Otherwise,...
12
MAY
2017
big-pharma-mortgage-lenders-advertise-direct-to-consumers-pills-30-year-fixed-mortgage

Why Does Pharma Advertise to Consumers?

It’s one of those things that bug me. I see all these ads on TV by big pharmaceutical companies advertising drugs you can only get by prescription. Why advertise directly to consumers for something they cannot buy? There must be a reason. Do they believe, or does market research...
11
MAY
2017
movable-collateral-mortgage-risky-business-chattel-loan

Would You Mortgage “Movable” Collateral?

In ongoing efforts to increase homeownership rates and provide home financing to underserved markets, both Fannie and Freddie are entering the mobile home financing market. This is part of their ‘Duty to Serve’ requirements under the 2008 Housing and Economic Recovery Act that I...
10
MAY
2017
Uncle-Sam-wants-you-to review-fhfa-plans-freddi-mac-fannie-mae-low-to-moderate-income

Duty to Serve

It sounds as though we may go back to the old military draft system. No, it’s only for Fannie Mae and Freddie Mac requirements to provide programs to serve the needs of very low, low, and moderate-income home buyers. FHFA announced it is extending the deadline for comments on...
09
MAY
2017
employment-roller-coaster-mortgage transaction-variance

As The Employment Roller Coaster Ride Continues

Sounds like a name for a bad soap opera or a reality TV show. But, once again this year, the trend continued. Non-Bank mortgage lenders shed employees in December, January, and February only to find the need to find new employees in March. Like the annual migration of the...
08
MAY
2017
morty-online-mortgage-originator

Why Lenders Need to Get to Know “Morty”

Who is Morty and why might he or she put the traditional mortgage originator out of business? First, Morty is not a he or she, it is an online mortgage resource system meant to match consumers with the best products and rates available, while walking them through the loan...