Tag Archives: national association of mortgage brokers

Should we limit commissions for loan officers in mortgage transactions?

Does God belong in the bedroom? Does the government belong in regulating how much you can get paid? These are the weight issues that I struggle with. Bloomberg reports: The National Association of Mortgage Brokers asked a U.S. judge to … Continue reading

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The New Lending Rules

Until now, states have taken the lead role with rules on lending. On Oct. 1, the Federal Reserve’s new federal rules come into effect. Those with poor credit currently pay up to two interest points more. The new rules force … Continue reading

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Regulating Loan Originators

From investmentnews: The long-awaited housing bailout bill, which President Bush signed into law last week, takes a bold step toward clamping down on fraud and abuse in the troubled mortgage industry by mandating that all loan originators be licensed and … Continue reading

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Bring A Big Down Payment If You Want To Buy A House

NEW YORK — Are you ready to buy a house in this crazy market? In deeply declining markets, lenders are reluctant to issue loans unless borrowers put at least 10% down, he said. (CNNMoney.com) For expensive homes, the down payments … Continue reading

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The Perils Of Reverse Mortgages

From the AP: The typical customer owns the home outright or has a relatively low mortgage balance. About 90 percent of U.S. reverse mortgages are Home Equity Conversion Mortgages, or HECMs. Nationally, the reverse mortgage bandwagon is filling up. In … Continue reading

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