Okay, who thought it would be a good idea to bring their kids to work? It seems a little counterproductive to me. Maybe, they thought it was a great opportunity for parents to bond with their children while the kids got a chance to see what the heck mom and dad did all day; while they slaved over tough subjects…
It seems like forecasting the level of new loan mortgage originations is getting like forecasting the weather. There are a number of pretty good indicators. But, things keep changing which makes it difficult to get it just right. Initially, the outlook was for rising interest rates, declining refi’s, and a bullish new purchase market. Fannie had predicted that 2017 would…
I don’t think so. I’ll bet (if I were a betting man) that if we carefully analyzed the process to originate a new loan, we would find the cost to originate a loan has actually declined. What with online applications and the technology for consumer communication, information gathering and verifications, and automated loan approvals, less time is spent creating a…
It’s important to learn from history. So, we can avoid making the same mistakes, while capitalizing on what we did right. However, to remain successful, we can’t rest on what we did. We need to have a clear vision of what needs to be done in the future to stay successful. It’s nice to know that profits for Independent Mortgage…
The allowable fees and charges that a lender can charge a veteran are somewhat limited and they haven’t been changed since 1954. Think about it. What hasn’t changed since 1954? Wow, that’s a long time… Presently, the VA allows specific third party charges which are required in connection with the loan. They also allow a lender to charge a flat…
With the emphasis being placed on increasing loan production and capturing more business, it’s extremely important that lenders to not forget about loan quality and compliance. Maybe I’m preaching to the choir here. But, if we’ve learned anything from the 2008 debacle, it’s that loan quality and compliance are paramount to a lender’s success. Manufacturing a quality loan is more…
