Congratulations, you’re a middle man! Many may take that as some sort of insult. After all, we’ve all grown up hearing pitch men promote the fact that they eliminate the middle man. However, in the mortgage industry, the middle man is good. In fact, the middleman is just about the best thing that ever happened […]

[Read more →]

Recent studies have shown that home foreclosures are on the rise in America. Simply put, a foreclosure occurs when a borrower fails to make several payments on their mortgage (also known as defaulting). At that point, the lender may take the house back and the borrower will not only lose […]

[Read more →]

The Department of Housing and Urban Development (HUD) oversees the Federal Housing Administration (FHA). The FHA is the largest mortgage insurer, not just in the United States, but the world.
FHA loans have been around since the depression, but have recently become a popular form of homeownership. This is the because the common predatory lending practices […]

[Read more →]

A Yield Spread Premium (YSP) is a payment which a mortgage broker receives from a lender when the broker originates a loan with an interest right higher than the market rate (otherwise known as the par rate). YSPs are often the primary source of compensation for mortgage brokers, and therefore particularly interesting among brokers.
The size […]

[Read more →]

All about the scope of RESPA

What kinds of transactions are covered under RESPA?
Transactions involving a federally related mortgage loan, which includes most loans secured by a lien (first or subordinate position) on residential property. This includes: home purchase loans, refinances, lender approved assumptions, property improvement loans, equity lines of credit, and reverse mortgages.What types of […]

[Read more →]

Matt Ellis of Wells Fargo specializes in Reverse mortgages for brokers. He wrote this for my blog a while back
Here’s a rundown from him on the most frequently asked questions about their program.
Topics covered:
1. What is a reverse mortgage?
2. Are there different kinds?
3. What are the requirements for a reverse mortgage?
4. What is the […]

[Read more →]

MGIC e-Train - Free is my favorite word, but “cheap” is a close second.

[Read more →]

How to Win Friends and Influence People - Cliff notes on Dale Carnegie’s sales standard.Read it, then go out and buy the book. If you’re really broke, your library probably has a copy.

[Read more →]

efanniemae.com is FNMA’s B2B portal. There’s tons of information on FNMA, and on originating loans in general.

[Read more →]

Meet Realtors Seminars - Free audio seminar from the Ibis Group. Actually, they are recordings of the conferance call that I always seem too busy to sit in on. Lots of superstars are involved. This page gets updated and replaced about once a month, so it’s good to occasionally check back.

[Read more →]