I think it’s unfortunate that the SAFE Act didn’t address having professionals who are helping people with the possible largest transaction in their life be limited to originating mortgages. I feel quite strongly that it is NOT in a consumers best interest to use the same person to originate their mortgage AND sell them their home. [Read more…]
My Thoughts on the Future of Home Mortgages and Home Ownership
August 18, 2010 by Leave a Comment
Yesterday, I had the Future of Housing Finance playing in the background as I was working away on rate quotes and lock commitment confirmations for a few of my clients in the Seattle area. Oh how I wish that I, or a fellow mortgage originator who has been originating mortgages since pre-subprime days could be on the panel. Since I’m not, I’m going to share a few of my thoughts on this post. [Read more…]
Who’s Vilifying Who, Mr. Dimon?
March 12, 2009 by 10 Comments
In a speech to the US Chamber of Commerce, Jamie Dimon, CEO of JP Morgan Chase made a statement that caused my jaw to drop. From Bloomberg:
“My biggest mistake, probably of my whole career, was not closing down our mortgage broker business sooner.”
He says that mortgage broker business had a loss rate two to three times higher than loans originated directly by the bank.
Here is what you need to know: [Read more…]
Credit Unions, Banks and Brokers…OH MY!!!
January 2, 2007 by 2 Comments
Recently I found myself drawn into a blog on Rain City Guide. The topic that got my attention is authored by Jillayne Schlicke titled “Hot or Not” which featured various tips for first time homebuyers from an USA Today article. The specific “hot” tip that forced me off of the sidelines and onto the playing field (it was New Years weekend…football…etc.) was: [Read more…]
