No, Chicken Little, the sky isn’t falling… August 18, 2007
A friend of mine that works in a small town bank in Kansas called me in a panic the other day because the officers at the bank were freaking out during a meeting saying that Countrywide was going bankrupt. For them there is concern because Countrywide buys all of their residential loans. Apparently [...]
Your Private Information is For Sale January 24, 2007
This subject totally irks me…it is just so completely wrong. The three major credit bureaus are selling personal information to hundreds of mortgage companies throughout the country as soon as a credit report is pulled from a mortgage lender. You visit your preferred lender to get preapproved for a mortgage, and whammo…within hours [...]
Licensed to Loan January 12, 2007
This New Year brought significant changes to the mortgage industry. Loan Originators who provide residential loans in Washington State are now required to be licensed. This legislature applies primarily to Mortgage Brokers and not LOs who are employed by banks or credit unions. As I am employed by a Mortgage Broker (technically, we [...]
Investigating Preapproval Letters January 10, 2007
(Editor’s Note: Today I get to introduce yet another contributor! Rhonda Porter is a successful mortgage broker from the Eastside who has been a frequent and much appreciated commenter on RCG as of late. I’m definitely excited that we get to learn more from her years of experience in the industry… She was formally a [...]
There are now five drink sizes at Starbucks: Short, Tall, Grande, Venti, and Chuck Cross January 9, 2007
Chuck Cross, former Director of Consumer Services for the Washington State Department of Financial Institutions is on his way to the other Washington to serve within the Conference of State Bank Supervisors.
Quoting from the CSBS press release, “Chuck was one of the key investigators, architects and negotiators of the multistate settlement with Household Finance and [...]
Interest Rates are Down August 16, 2006
I’ve been working on listings more than buyers for a bit until recently. I had two offers to write yesterday, and was surprised to see the 30 year conforming at 6.125 and the jumbo at 6.375.
My perception was that interest rates were climbing, but looks like they are back down. Would love [...]
Maybe I’ll write the book someday. As to consumer’s venting, I have had...