Posts Tagged ‘ mortgage industry ’

Appraisal Foundation Boards Seek Your Comments on Draft Revisions by December 5

I: The Appraiser Qualifications Board (AQB) has issued the following Exposure Draft: Fifth Exposure Draft of Proposed Revisions to the Real Property Appraiser Qualification Criteria Link: https://appraisalfoundation.sharefile.com/d/s37bad6cf5694643b Written comments requested by December 5, 2011 Send Comments to AQBComments@appraisalfoundation.org II: The Appraisal Practices Board (APB) has issued the following Exposure Draft: First Exposure Draft: Residential Appraising in a Declining Market Link: https://appraisalfoundation.sharefile.com/d/sbdb218d49bc48c6a Written comments requested by December 5, 2011 Send Comments to APBcomments@appraisalfoundation.org

This article (click here to download PDF) discusses the ongoing debate about the CFPB. The general objectives are reasonable but so is adequate congressional oversight and public transparency. It would be better to remove the CFPB from the Federal Reserve Board and place it within HUD or the FTC. The future of the MLDS/GFE rests upon the outcome of the pending regulations by the CFPB, as will the ultimate interpretations that likely affect broker compensation, QRMs, the 5% retention rule, etc. The truth of the matter is regulators were in place prior to the CFPB to prevent the crises in the mortgage industry and in the housing...

Q: I am a broker and I just received my NMLS. Do I have to accrue the education credits before the end of 2011? A: Yes. It is our understanding that you will need eight (8) units to apply for the renewal of your NMLS registration effective January 1, 2012. The prerequisites required to obtain the initial NMLS registration expire at the end of the first year. Q: On the report for NMLS, do non-NMLS loans count? A: Yes. The annual report that is required to be filed with the DRE covers everything the mortgage broker does. The report may be consolidated with the threshold report required pursuant...

New federal law requires the registration of any person acting in the capacity of an MLO broker when arranging a loan for personal, family, or household purposes secured by a one-to-four-unit residential dwelling; and also severely restricts the payments of compensation, including commissions. In a simple explanation, the law allows compensation to be paid to only one MLO in any federally related residential mortgage loan transaction. Example: In the old world, before NMLS and additional recent amendments to applicable federal law, if a real estate broker got a phone call from a fellow broker to refer a loan transaction the brokers could agree to divide the commission;...

This article by N. Mitchell Feinstein, posted in Investor Uprising, discusses the upsides and downfalls to investing in the current real estate market. Click through to read the post–and then click around to view more. We recommend Investor Uprising as a good source of news on a variety of markets. The past has little to do with the future, and those who rely on historical data to predict market movements are often wrong. Take real estate, one of the fundamental drivers of the economy. When the real estate market collapsed, it put the whole economy in freefall. And even though real estate has historically been a catalyst...

The 3 Wisemen presents: 3 HOURS OF DRE CREDITS AND INFORMATION THAT WILL PROTECT YOUR BUSINESS AND HELP YOU IN THIS TOUGH ECONOMY. Did you know that new appraisal rules have been issued by the Federal Government that applies to ALL properties, even if the loans are for business purposes? How do you tell if a loan really is for business purposes? What rules apply to loans secured by a residence if the loan is for business purposes? What happens if you guess wrong? Has the Federal government made it impossible to do an owner occupied loan? Are there any ways to help a homeowner sell his...

NMLS News Feed

The Classic Editing Experience is Moving, Not Leaving

With the introduction of the Block editor, the WordPress.com Classic Editor was set for retirement at the beginning of June. We pushed that back a bit to make time for more changes that ease the transition to the Block editor — and now it’s time! With the new and improved … […]

Introducing a New, Convenient Way for Your Customers to Contact You

The world is mobile, and your visitors and customers expect to be able to easily contact you using their mobile device. With WordPress.com’s new WhatsApp button, you can provide a one-click, secure way for people to open WhatsApp, with your phone number and a message pre-filled. Adding the button is … […]

Manage Posts and Pages with the Block Editor Sidebar

Create and manage pages with the Block Editor Sidebar. […]

Starting Your Own Podcast on WordPress.com

Bilingual essayist, engineer, and podcaster Artur Piszek offers a step-by-step guide on podcasting. […]

Improve Your Remote Collaboration With P2

P2 powers internal collaboration at WordPress.com — and now it’s free for everyone. As more collaboration is happening remotely and online — work yes, but increasingly also school and personal relationships — we’re all looking for better ways to work together online. Normally, teachers hand out homework to students in … […]

Mortgage Daily News Feed

Continued Deterioration in Origination Quality

As home lenders and investors have recently been a little more relaxed about credit qualifications compared to just after the crisis, mortgage quality has weakened. Still, quality is better than before the crisis.During the past three years, the quality of residential loans originated has weakened, though credit quality remains far stronger than the early 20 […]

Best Mortgage Lenders By Category

A report based on a recent survey of consumers who were shopping for a residential loan has identified the best home lenders in a variety of categories -- including government programs, jumbo loans and online services.The 10-question survey of prospective mortgage borrowers found that before they applied for a home loan, 40 percent checked their credit repor […]

Business Falls to 6-Month Low at Freddie

New business at the Federal Home Loan Mortgage Corp. retreated to its lowest level in six months. Delinquency, meanwhile, remained at its lowest level in a decade.When September was over, Freddie Mac's total mortgage portfolio stood at $2.1513 trillion -- including a $0.2278 trillion in mortgage investments and $1.9235 trillion in outstanding mortgage-r […]

Large Agency MSR Offering Hits Market

Bids are being sought for servicing rights on a large portfolio of agency mortgages. The offering has a moderate concentration of Golden State and Sunshine State loans.Mortgage servicing rights on 20,168 residential loans that had a collective unpaid principal balance of $5.232 billion as of Sept. 30 are being sold through the auction process.Included in the […]

Mortgage Rates Up 92 BPS From Year Ago

Over the past year, weekly fixed interest rates on single-family loans have soared 92 basis points. But little change was reported from last week, and more of the same is expected.On conventional loans utilized to finance a home purchase with amounts up to the conforming mortgage limit of $453,100, thirty-year fixed rates averaged 4.77 percent during Septemb […]

Posts Tagged ‘ mortgage industry ’

Appraisal Foundation Boards Seek Your Comments on Draft Revisions by December 5

“New Consumer Protection Agency Faces Opposition,” NPR, July 21, 2011

Q & A: New NMLS Registration Rules

ANALYSIS & ADVICE: How the New Federal Law Severly Restricting Payments of Referring Brokers Affects YOU

Investors Move in on Real Estate Opportunities

DRE Accredited Workshop to Protect Your Business: June 11

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