CFPB Aims Sights at Real Estate Offices

Well it’s here.  There is a class action lawsuit for $11.2 million against a large real estate company for RESPA violations. NAR can’t really do anything about this one.  Long & Foster Real Estate is on the short end of the stick with regards to a huge RESPA lawsuit.  They’re …

Another Chase Banker Dies

There absolutely has to be something going on at Chase right now as yet another executive takes his life by jumping 30 stories to his death. Last week we reported that high level investment execs have been killing themselves.  Two of those guys were from Chase and now yet another …

Bitcoin Allowed by Real Estate Firm

Manhattan Real Estate Firm, Bond New York, is now accepting Bitcoin as a means of payment when buying a home. What is Bitcoin?  Have you ever heard of it?  Well it’s money.  It’s money that has no regulation that’s virtually on-line.  Bitcoin is really taking off and it’s no surprise …

Success is Easy as Performing a Quadruple Bypass

Success is Easy as Performing a Quadruple Bypass.  All you have to do is apply yourself. As we approach the beginning of the new year we are leaning more toward motivational, or inspirational thoughts on the show.  Don’t worry though, if anything catastrophic occurs in the industry we’ll let you …

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Lending Bounces Back

September 2, 2014 Big Banks, FHFA, NAR 5 Comments

After quite a long drought, lending appears as though it might be bouncing back.

Don’t miss out on the REMN B-Day Bash in Vegas at the NAMB event!  REMN always puts on a great party and this year will be no exception.  They will be at the NAMB conference and on the 14th they are holding their party.  There’s food, drinks and always a surprise or two so don’t miss it.  You can get more information by CLICKING HERE.

resilienceLenders are reporting some good gains which is a good thing considering that we’ve been at 2008 levels lately.  The question is, why, and will it continue?  That has yet to be seen but the feeling is positive.  One thing that will continue to hurt lending however is the continued lawsuits from various government agencies.  These lawsuits are massive and rest assured that the cost of paying a government agency finds its way to the rate sheet that’s being delivered to the consumer.  The reason that consumers aren’t up in arms about it is because the rate environment is so low, that even with these costs factored in, it’s hard to complain about interest rates in the 4′s.  If we were in a 7% or 8% market believe us, there it would be a different story.  At any rate, tune in and learn all about it.  We’ve got a couple more gems in today’s show as well including a great bit on the NAR for you.

With that you all have a wonderful day and we’ll see you tomorrow.

Frank and Brian

White House Demands VA Refinances Get Done

August 29, 2014 Big Banks, VA 10 Comments

The White House has started an initiative with the big 5 lenders asking them to refinance all eligible Veterans.

Housekeeping first!  If you’ve got those clients in that 3 to 5 year waiting period after a bankruptcy, foreclosure or short sale, you might not have to wait!  Try the Mortgage Alternative Program.  They are set up to help those people out and the terms are fantastic.  To learn more information CLICK HERE.  Also in today’s show we go over how you can get your list of potential VA streamline refinances over to Boomerang Prospecting and they will call them for you and send the interested clients back to you.  To learn more about Boomerang Prospecting CLICK HERE.

Veterans-Landing-Page_tcm18-54240Now on to the show.  The White House is feeling pressure to start doing more for our Veterans.  So they’ve started an initiative asking the “Fab-5″ to scour through their databases and find those VA deals where it would make sense to do a streamline refinance.  Well it got us thinking, why should the Fab-5 be the only lenders out there doing this?  Why don’t you?  It’s easy to figure out, easy to make the call and easy to do the transaction and to top it all off, it helps the Vets!  Then again, why not do it for everyone in your database.  We know refinances are kind of dry, but, think about this.  Most lenders fish for refinances via mail and email.  How about some good old phone calling?  Problem is, you’re chicken or just don’t have the time.  Once again, if you get the list of candidates exported, send them to Boomerang Prospecting, and let them call them for you.  They send the interested clients back to you.  How easy is that?

With that you all have a great holiday and we’ll see you on Tuesday.

Frank and Brian

FHFA Announces Big Strategy for GSEs

August 28, 2014 FHFA, GSE's 3 Comments

The FHFA has come out and announced their GSE strategy for 2015-2019.  Guess they’ll be sticking around for a while huh?

Before we get started we’ve got to remind you that the MGIC Go Program could get you out of your approve ineligible jam.  Just a few simple overlays could take you from turn-down to touchdown.  So be sure to check it out by CLICKING HERE.  Also we’ll be in Seattle and Florida in September at a couple association events.  You can CLICK HERE to register for Seattle, and CLICK HERE for Orlando.  Hope to see you there!

strategyNow on to the big show.  You know how all the politicians keep yelling about shutting down the GSE’s (Fannie Mae and Freddie Mac) as a political badge of honor?  Well seeing how FHFA just came out their big strategic plan for the GSE’s through 2019, it doesn’t look like it’s going to happen any time soon.  And that’s a good thing.  What’s somewhat humorous though is the strategic plan itself.  You’d think there would be some big earth shattering plan that makes everyone sit back catching their breath saying “hey now.. there’s a plan!”  But, no.  When you see it you’ll get what we mean.  So be sure to tune in and check it out, and be sure to leave us your comments down below!

Well you all have a wonderful day and we’ll see you tomorrow.

Frank and Brain

Dodd Frank Part 2 Coming Soon

August 27, 2014 CFPB, Dodd Frank, Insurance 30 Comments

Did you know that only half of the rules and regulations of the Dodd Frank bill have been implemented?  Where will the cost of doing business go once the other half is rolled out?

On-line lead guys and gals.  LoanTek is your Huckleberry!  They are running about 60% purchase deals right not and what’s more is if you’re currently tied up in a competitors contract and you’d rather switch to LoanTek, they will let you use their system for free until your crummy contract expires!  For more information and to get started CLICK HERE.

frank_doddNow on to the show….  Did you know that to originate a loan today, that’s ONE loan, it cost over $5k?  And that’s down from last quarter!!  The cost of doing business in this industry has gone completely out of control.  It’s no wonder the under served classes are suffering so much when it comes to lending.  Imagine that, $5k to do a loan.  Right off the bat you’re underwater $5,000?  What lender is going to do an $80k loan out there?  Well the good news is at least the cost is coming down right?  Uh, well, maybe, why?  A big part of the cost of doing business out there is the cost of increased compliance through Dodd Frank.  Okay, so.  Uh, only half of Dodd Frank has been rolled out – do the math guys.  Let’s hope some “change” does come down the pipe soon.

With that let us know your thoughts down below and have a great day!

Frank and Brian

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