Tag Archives: mortgage brokers

Mortgage Brokers Unhappy With Mortgage Loan Reforms

Mortgage brokers got much of the bad press for our housing downturn. They were accused of selling mortgage loans to people with poor prospects of repayment. Mortgage brokers don’t have a skin in the game of mortgage lending. They get … Continue reading

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Should You Refinance To Pay Off Your Credit Cards?

That’s what tens of thousands of people used to do. They’d treat their home like an ATM. They’d refinance to consolidate their debts. Now it is not so easy. Banks are requiring much more paperwork and proof of income. Home … Continue reading

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Three Los Angeles Mortgage Brokers Arrested

The brokers are accused of stealing about $1 million from borrowers seeking to adjust their mortgages. California’s attorney general claims this is a case of grand theft. Dozens of home owners were apparently lured into refinancing with promises of low … Continue reading

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Finding A Mortgage

You have a credit score of over 700 and you can put money down. You should be able to get a mortgage, but these are not normal times. The NYT reports Feb. 1 about the difficulties finding a mortgage in … Continue reading

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Is It Kosher To Sell Subprime Loans?

Rav Adlerstein writes: A short few years ago, a young kollel-trained man had gotten some experience finding mortgages for prospective house buyers. Looking to improve his bottom line, he sent out feelers to various mortgage brokers. Each interview seemed to … Continue reading

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Finding A Mortgage

From WNEP.com: Mortgage brokers and the chief operating officer of a local bank said the mortgage meltdown has slowed down the housing industry but people with less then perfect credit can still get mortgages. Luke Mathews is president the Mathews … Continue reading

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Tightening Standards For Mortgage Brokers

Stacey Myers writes: About 40 percent of Indiana?s mortgage brokerages had lost their license to do business as of yesterday because they hadn?t complied with a new state law tightening licensing standards, the Associated Press reported. As of yesterday, 361 … Continue reading

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Mortgage Brokers Get Paid Everything Up Front

Steven D. Levitt writes: Why do mortgage brokers get paid everything up front when they originate a deal? This sort of contract gives brokers terrible incentives. They just want to get a deal done. It matters very little to them … Continue reading

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Mortgage Brokers Seeing Gloom

Bob Tedeschi writes: NEW YORK’S borrowers could notice a different tone in their discussions with mortgage brokers in coming months, as brokers adjust to a new state law that seeks to stem foreclosures. Among other things, it says that brokers … Continue reading

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Questions On Mortgages

From DailyHerald.com: Q. We live in Belvedere and have very few ordinances relating to property upkeep and maintenance. We live in a newer subdivision (no homeowners association) of homes in the mid-upper value for our area. Our "neighbors" moved in … Continue reading

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