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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Housing Vouchers for Criminals

A lot of HUD money goes towards housing vouchers for the protected classes.  Well it looks as though criminals may soon be on that list.

Before we get started, let us remind you of the Mortgage Alternative Program that will allow you to get those deals done where you might be stalled due to the fact that your borrower is in that 3 to 5 year waiting period after a foreclosure, bankruptcy or short sale.  It’s an amazing program.  To learn more about it, simply CLICK HERE.

Housing for CriminalsNow on to the show.  HUD money that’s allocated for subsidized housing in many cities comes with requirement.  First of all there can be no discrimination of course, but there may be a new class of person that needs some protecting.  That would be those with a criminal record.  See, as it stands, you’re not eligible for subsidized housing if you’ve got a record.  But the problem is if you can’t get a place to live, and you’ve got a record, might you be inclined to go back to your wayward ways in order to survive?  That’s the big question.  Well, we have our opinions and we know you’ve got yours.  So please tune in to the show and let us know your thoughts about it down below.

Have a great day!

Frank and Brian

NAR Fights Zillow Trulia Merger

August 20, 2014 Big Banks, NAR, Trulia, Zillow 37 Comments

NAR isn’t happy about the Zillow Trulia merger and they’re telling the FTC to do something about it.

Hey Loan Officers.  Got a little trouble getting MI on a deal due to LTV?  Try MGIC’s Go Program! It might be just what the doctor ordered!  With just a few little overlays you could be turning your turn down upside down… uh, you get the idea.  To learn more CLICK HERE.

NAR says StopNow on to the show, and a fun one it is.  NAR wants to put a stop to the new Zil-ulia mega site merger.  They feel it’s a monopoly.  Well, of course Zillow has their own opinion about it, which naturally doesn’t jive with NAR’s.  Now here’s my humble opinion (Frank).  I don’t think they will get anything accomplished, but I also don’t underestimate the influence of NAR.  They do have a pretty big voice on the Hill and there’s no telling who might get a little “nudge” on the matter.  So I’m really curious to see if they can stop the whole thing or at least slow it down.  Now at the end of the day, NAR should really be looking at themselves and consider one major item that they seem to be forgetting.  Realtors hold all the cards, in the form of listings.  The only reason Zillow and Trulia exist is because real estate agents give them their listings.  So, perhaps they might find a way to gain an advantage with this in mind.  Anyway, tell us what you think in the comments down below.

Have a great day!

Frank and Brian

Great New HUD Program Coming

August 19, 2014 CFPB, FHA/HUD, Marketing 14 Comments

HUD has a new program coming out this fall that actually looks pretty darn good!

Before we get started, there is a webinar this Thursday with Heartland Credit that will show you how they are able to convert 86% of the credit turn downs sent to them into qualified buyers.  So if you’re not working with a credit repair company or if you’re not happy with the one you have now, tune and and see what Heartland can do for you.  You can CLICK HERE to register.

FHA HawkNow on to the show.  We all know that increasing MI on FHA loans is a problem.  More and more buyers that were able to qualify for the home of their dreams are now unable to do so do to the increased payment with ever climbing MI.  Well HUD has decided to make it more reasonable on the buyer if they comply with some new rules.  The details of the program aren’t complete yet but we have a pretty good idea and we’ve made note of it in today’s show, so be sure to tune in and get the scoop.  Also there is a CFPB webinar next week on the new RESPA/TILA rules that are soon to roll out.  So you might not want to miss that either.  To register for the CFPB webinar you can CLICK HERE.

With that you all have a wonderful day!

Frank and Brian

Government Finally Getting Sued

Finally and organization has stepped up to sue the Government over their reckless and irresponsible handling of the GSE’s.

Loan Officers!  Renovate your business with REMN’s Renovation Webinar this week!  Renovation loans are a vital asset to any loan originator and they are a great source of revenue.  So why not learn all about them and get then integrated into your business!  You can still register by CLICKING HERE!

William AckmanOn to the business at hand.  First of all, for those of you who didn’t understand the problem we had with Freedom Mortgage getting fined, we make it our point clear in today’s show.  Yes, there is a HUD Mortgagee Letter that states one thing, but the ATR rules state another and that’s where the problem lies.  Next on the list is the new Lender Code that we propose.  There’s a tried and true, proven code that’s been around since 1850 that just might be the ticket to solving all of our problems.  We bring it up in the show.  And finally, someone has stepped up to sue the government for their reckless and irresponsible handling of the GSE’s.  We’ve been waiting for something like this to go down and we hope others join in.  The Governments mishandling of the GSE’s has been one of the most negligent and irresponsible acts of government we’ve ever seen in the history of our country.  Perhaps is the start of an important and needed change?  We’ll see..

With that you all have a wonderful day!

Frank and Brian

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