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Blog entries tagged with "bankers":
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers
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Just had a nice conversation with my customer who I am doing a CMA for. Her mortgage broker told her the value of her condo. 
The surplus of speculating investors who cleverly learned how to leverage leverage OPM (other peoples money) and work the system, is now backfiring throughout the market and circling back around to correct itself. A fourth of the homes bought across the nation the last few years were purely speculative for profit … (0 comments)
I was recently in an mls meeting and one of the bankers said that a lot of people are paying bills other than their mortgage. Wow, that blew me away! Cell phone, credit card, somewhere to live... it seems pretty obvious what the choice should be. Another thing that surprised me … (0 comments)
Jeffrey Hogue of the San Diego law firm of Hogue and Belong, and a founding partner of the Mortgage Accountability Association has written a post on Peter Miller's excellent FHA Mortgage Guide blog entitled "Why Don't The Same Rules Apply To All Lenders" that brings up the yield spread premium disclosure … (6 comments)
In order to protect the consumer in mortgage origination the following changes shall be made:
There have been a substantial amount of changes in the mortgage industry over the past year. With the changes it is important to understand the differences among mortgage sources and how those differences impact your real estate transaction. It is my understanding that many real estate professionals do not understand the … (0 comments)
In the "old" days-that is, before "creative financing"-home buyers in Elkhart County, Indiana had few financing options when it came to purchasing a property. However, in today's environment, a buyer has the choice of everything from a fixed, 15 or 30 year mortgage and an adjustable rate mortgage (ARM) to an … (2 comments)
Hope all is going well for everyone. I'am shocked that I showed a home and the homeowner yelled at me for being five minutes early, imagine if I was late what would she have said then. The buyers were shocked and wanted to leave but I convinced them to see the house. … (16 comments)
In comparison to their large-balance counterparts, small commercial real estate loans may outwardly seem too inefficient to make their case for inclusion in most lenders’ repertoires - particularly in today’s climate of capital markets unrest and an emphasis on cutting costs while maximizing profits. However, the demand for this type … (0 comments)
This morning I attended our meeting Hosted by Hank Setaro Owner/Operator of Appleseed Realty GMAC Real Estate & Scott Sertaro of Mortgage Links our Mortgage Company, who have now partnered with G.M.A.C Mortgage Company. With all positive expectations of Real Estate, Henry Setaro of Appleseed Realty G.M.A..C. Real Estate talked about the low … (2 comments)
Financial institutions struggle to sort out troubled balance sheets. Banks are trying to do what they can to get through the mess. Past easy type credit was a matter of pushing reserves into the banking system, but this shot gun method increases inflationary pressure. The feds will be using a rifle … (1 comments)
We have all heard the saying what goes up must come down. We hear stock brokers tell us to buy low and sell high, then when it goes down again, repeat that process. We know from physics class that "for every action, there is an equal and opposite reaction" and it … (2 comments)
Insider trading, something that Enron executives, and Martha Stewart know all about and have paid for it with real jail time. But now the exec's at Citi and Countrywide are selling stocks day's before major announcements of doom and gloom, and no one is clamoring that they go to jail!
Has anyone had any great success with door knocking? As a loan officer, I see it as a potential I haven't really tried yet. There are so many homes for sale in my area, I think I'd like to try door knocking and presenting the home seller with some information for … (13 comments)
These days, I see all kinds of finger-pointing. Most even make good points, and lots of people agree, sometimes people disagree. You have predatory lenders. You have predatory brokers. You have predatory banks. You have Realtors that contribute to the problems. You have the borrower themselves that have caused part of … (3 comments)
There seems to be a lot of incomplete or inaccurate information floating around about the role of the various principals in lending. Some generated by brokers/lenders themselves. 
Please let us know if you will fly your flag on 9/ll. We need for each of you to contact someone you know to remind them to fly their flag. Together we will prevail.On Tuesday, September 11th, 2007, an American flag should be displayed outside every home, apartment, office, and store … (38 comments)
Years ago, if the president talked, it was reported. If Charles Lindberg made history, it was reported. But until reality television, and blogs, the average guy listened, and read, but did not contribute to the information flow. One of the only options to "speak" and be heard was to excercise his … (0 comments)
What's a Mortgage Banker, Broker & Direct Lender? As an independent Broker I'll identify lenders most likely to approve your loan. As a Mortgage Banker I'll fund your loan at closing just like any direct lender. Unlike direct lenders limited to their own product portfolios, I have hundreds of lenders to choose from including the … (2 comments)
Scott Geary! Master motivator, mediocre golfer, and the Robin Hood to our band of merry men here at First Choice has challenged us all to make 100 contacts a day! Potential borrowers, former borrowers, former turn-downs, realtors, bankers, attorneys, and basically anyone imaginable in an attempt to garner more business. … (6 comments)
With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will … (1 comments)
Facts for you I have. Learn you will if only you listen Skywalker.
10 Years for BrokerA southern California mortgage broker was sentenced by a federal judge in Los Angeles to 121 months in prison for mortgage fraud. The broker operated mortgage, realty and appraisal businesses. Prosecutors accuse him of buying multiunit properties in distressed areas for fair market value, then simultaneously selling the … (2 comments)