Mortgage Compliance Regs: Overkill?

Today's Mortgage Industry Compliance is Tight Going from a wide open mortgage industry that had virtually no regulation and that was referred to as the "wild wild west" to a highly government regulated industry is bound to have its share of growing pains.  The mortgage world has seen far more than it's share of growing pains.  Once we got through the majority of the changes and the smoke cleared, I for one was in favor of this new world.  The new regs protect consumers (or at least try to) … [Read more...]

New Mortgage Changes May Take 7 Years

New Mortgage Changes Could Take Years Arizona Mortgage lenders everywhere will be cheering and celebrating as usual this New Years Eve however this year, there will be some nervousness lurking just beneath the surface.  You see, 10 short days later some monumental government regulations will be handed down that many feel will drastically change how mortgages are originated.  However, I suggest that anyone overly worried about the upcoming Dodd Frank mortgage regs "save their nerves."  Not … [Read more...]

Residual Income Mortgage Solution: Take a Page from VA

Residual Income is the Key to Avoiding Foreclosure While many in DC are arguing that one of the key determinants to whether or not a borrower will default on their mortgage is how much money they put down I want to share another idea - a different angle.  In fact, I am willing to make the argument that down payment is not a key factor in predicting whether or not homeowners will simply walk away from a primary residence (investment property is a different story).  No, instead a little … [Read more...]