As with everything else in the mortgage business right now, State Surety Bonds are HARDER to get than ever and at the same time the amounts required by the state licensing boards are HIGHER than ever!
HUD is getting a record number of applications for FHA Lender Approval. Somewhere around 1200 in the last 3 months of 2007 which is 4 times as many as they are used to getting.
If you have good mortgage leads, why would you sell them?
There is this illusion that Lead companies sell the leads because they “Can’t Do Mortgages.” Personally I think this is a joke. It most states it only takes a weekend class to be a mortgage broker and the Lead companies could work their own deals, or better […]
I HOPE NOT! This statement angers me more than anything else I am hearing in the mortgage industry right now. Even more than FHA not raising the HECM Limits as a part of the Economic Stimulus Package (but that’s another article all together).
I just completed the process of obtaining my non-supervised mortgage approval for FHA loans. This approval allows my firm to underwrite, close and service FHA loans. Unfortunately HUD is currently SWAMPED, every lender and their brother wants to be FHA approved. There is this sentiment that FHA is the New Sub-prime, unfortunately if this is […]
I am currently in the process of obtaining warehouse lines for my start-up mortgage banking firm. After 10 years in the industry this turned out to be a much more daunting task than I would have imagined.
FHA not raising Hecm Limits
Understanding and Controlling