The Newsletter for the Top Mortgage Originators

Conference Calendar

Featured Buyer's Guide Category:

Pipeline Management

Need help managing your pipeline? Click here.
Click here to see listings in the Pipeline Management category.

For online listing info for the Buyer's Guide, Call Steve at 866-752-7966 or send an email to steven.gallego@sourcemedia.com

Loan Programs FHA May Change Condo Rules By Brian Collins WASHINGTON-The Federal Housing Administration wants to tighten its condominium lending standards but not right away with the condo market in flux. Last week, FHA issued new condo rules giving FHA direct endorsement lenders the authority to approve condominium projects for the first time ever. Currently HUD officials must determine if a condo building is eligible for FHA financing. The new streamlined lender approval process that goes into effect Dec. 7 is expected to expand FHA's condo market. Read more...

Making the Sale Ethics Expert Asks Are You (Or Your Company) Too Comfortable For Your Own Good? By Brad Finkelstein I believe that one of the drivers of the subprime crisis is that everyone in the mortgage industry got too complacent. As more and more loans were originator, as home prices kept rising, as automated underwriting systems said what was being produced was OK for sale on the secondary market, various points in the origination cycle that used to ask questions stopped asking those questions. This complacency opened the door for what is happening today. Read more...

What We're Hearing Daily

I love a good 'wedge issue' so here goes: There is new talk in Washington about revising the idea of instituting a .25% tax on stock transactions to help pay for the $700 billion bailout of our nation's financial system. (Roughly, $250 billion of TARP money is left in the government's kitty.) This could be a real killer of an issue for Republicans because during the Bush years they were known in Washington as the 'Don't Tax and Spend Party' and now they have religion and are sounding angry for all the 'little guys' out there back in their districts who are unemployed. So, if the GOP is for the little guy, shouldn't they like the idea of socking it to Wall Street to pay for this mess? But wait, don't all Republicans have carved into their chests a motto that says, "Read my lips, no new taxes"? Meanwhile, the Ayn Rand capitalist pundits are on CNBC ranting about the idea because it will hurt all Americans because so many of us own stocks. But wait, if you're unemployed you've probably sold your stocks by now. Yesterday both parties were venting their spleens on Capitol Hill about Treasury Secretary Tim Geithner's handling of the bailout and the economy. (A lynch mob was formed, almost.) But wasn't it the Bush White House (and Bush Treasury) that pushed the $700 billion bailout through Congress? And wasn't it the Republicans who killed the first version of the bill, sending the stock market into a death dive? As for the Democrats, they like to spend, sure -- and they're kidding themselves about how to pay for anything they propose. Come next fall it certainly is going to get interesting in Washington. The whole issue of taxes (of any kind) boils down to this: do you want government-provided services or do you want to keep more of what you earn? Right now, I would suspect that 10.2% of our nation's eligible workers would love some government help, regardless of their party affiliation...

See Paul's weekly column here.

News Headlines

Survey Results

Last week's question was "Do you expect your company to increase its marketing spending in the next 90 days?" About a third, 35%, of respondents said yes, they plan to broaden their promotional budget in the next quarter. This is up substantially from the 16% positive response we received when we asked ninety days ago. Despite the increase this quarter's response still has a way to go to beat our one year high of 48%. We'll see if the numbers continue to improve next quarter.

This week's question is "Does your company plan on outsourcing some functions in the next 90 days?" As always, we'd love to hear what you think. Be sure to give us your input by clicking on the survey form on the left-hand side.

Related Newsletters

• Daily headlines with breaking news stories about the mortgage industry
• Sample issue
• Signup page

• Weekly newsletter about mortgage fraud and how to prevent it.
• Sample issue and signup page.

• Biweekly newsletter for REO managers on making foreclosed property profitable.
• Sample issue
• Signup page

• Mortgage servicing headlines, three feature stories and some useful statistics, twice monthly.
• Sample issue
• Signup page

• Mortgage technology headlines, feature stories and survey-based statistics, weekly.
• Sample issue
• Signup page

This message was originally sent to %%emailaddr%%.
If you no longer wish to receive BrokerUniverse, send a blank e-mail to %%email.unsub%%