Jeff Corbett's (thexbroker) Blog

‘Open source’, ‘Blogging’, 'Web 2.0', the importance (or impotence) of Search Engine Optimization is the buzz of the Internet, and especially hot in the real estate and mortgage verticals.  Regardless of the lingo used, one thing is evident…The big WWW has evolved (very) dramatically.   There are...

Fresh back in Dallas after four days soaking up San Francisco and Inman News’ Real Estate Connect, the industry’s premiere technology conference and networking event.   RealTyger rolled out its technology platform in the Sacramento Room inside the swanky Palace Hotel while panel after panel divul...

What is the first question every consumer asks when they call a mortgage entity?  What is your interest rate for a _________? (Pick a program).   What is the second question every consumer asks when they call a mortgage entity? How much do you charge?   First, these are the two worst questions a ...

With payment defaults and resulting foreclosures, the mainstream news will have you believe the mortgage industry is somewhere between a state of major reform and the tipping point of colossal failure.  Realistically it’s somewhere in between, but that’s not a very newsworthy view.    Markets are...

Greg Swann penned an article about Zillows recent cryptic announcement of a pending move into the mortgage arena…Trulia is  rumored to be as well, and Redfin now offers a flat fee mortgage service (WHAT A NOVEL IDEA!). The big Z also recently announced that they will soon enable brokers to feed t...

OK, I went to college, took algebra, geometry, trigonometry, calculus, statistics, and passed them all.  Math wasn’t a problem for me (history and literature were), alas, I’m pretty baffled at how broker/bankers, and lenders come up with a mortgages Annual Percentage Rate (APR).   This is a probl...

Because it can.   The number one statement that I get via comments and emails from others in the mortgage industry (paraphrased):    "It’s nobody’s business what I make, Wal-Mart etc. doesn’t have to show their mark-ups, why should I??"   What a telling statement, as it confirms the general brok...

Picking up where the previous post left off….. Faced with the most uneven of playing fields, many brokers rationalized a culture of deception. One look at a typical HUD-1 broker closing statement is all the proof you need. Nevertheless, it was the online direct lender that posed the most imminent...

Ive had some heated (and circular) conversations with many in the mortgage industry regarding how unregulated the industry actually is, how it would be near impossible for legislation to clean up the mess. The Mortgage Industry needs something more than new Statements and Policies from regulatory...

There was an explosion of mortgage products on the scene from 2000 to 2005, going from hundreds to tens-of-thousands. ANYONE could get a loan, even dead people. On 3/10/2007 it should be no secret that the mortgage world is on the verge of an epic correction. Fraud permeates the industry from th...