JB Group Weekly Tweet Recap for 2011-03-27

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Posted on in General

JB Group Weekly Tweet Recap for 2011-03-27

YouTube It: Foreclosure Myths and Scams – Freddie Mac is now publishing YouTube videos to share information with the… http://ow.ly/1bS4wu # [mortgage peeps] Feel free to copy this email sent to Colorado Senators Udall & Bennet about the pending regulation – http://ow.ly/4l51x # FDIC to Propose "Qualified Residential Mortgage" Definition – The debate over what counts as a "Qualified Residentia… http://ow.ly/1bUgnp # Case-Shiller Survey: Home Prices Likely Heading Lower – The country is on the verge of a double-dip in housing price… http://ow.ly/1bVf1d # Mortgagebot gets bought. $231.8 million?! http://ow.ly/4myjt #

by jberman
Posted on in Mortgage Regulation

Email Sent to Colorado Senators Udall & Bennet

A copy of an email I sent to Colorado Senators Udall & Bennet today. Feel free to copy & share with others. Please help…the Federal Reserve is driving my industry out of business. Dear Senator Bennet, Small business mortgage broker companies have been under attack and need your support. The majority of banking regulation & specifically the Federal Reserve’s pending compensation mandates (Going into effect April 1, 2011) have been aimed squarely at the mortgage broker. Being a mortgage broker I can say I consistently beat the banks in offering better, less expensive financing options to Coloradoans. Please become educated about the unfair conditions that pending regulation will create for these small businesses in Colorado and across the country in being able to deliver lower cost options to consumers. Please support changes to preserve our livelihood. Below is a brief video overview of the questionable justification for just one piece of regulation negatively affecting mortgage brokers and consumers. The effects […]

by jberman
Posted on in General

JB Group Weekly Tweet Recap for 2011-03-20

HUD Focused on Rebuilding America's Dilapidated Housing Inventory http://ow.ly/1bLEwV # FHA Chief Stevens to leave job & become new CEO of the Mortgage Bankers Association – via @inmannews http://ow.ly/4faQy # Originator Compensation Delay Urged by Congressional Committee http://ow.ly/1bMJjA # Informal Evidence on Why Small Independent Mortgage Professionals Don’t Support NAMB – http://ow.ly/4g23B # http://fb.me/R1TGaaXH # Incoming MBA President Potentially Hindered by Revolving Door Policy http://ow.ly/1bNOM4 # 1000's of ?'s fielded by Fed Reserve in less than a week for compensation call *happening now*. #LOComp # Glad the Fed defined features like pre-payment penalties & interest-only as risky. Too much burden on consumers to have choices. #LOComp # RT @jillayne: RT @mortgageporter The Fed is creating rules for the lowest denominators of LO's and consumers #LOComp # I didn't know former NAMB employee Nikki Pastor was working for the Fed now. Hmmm. # Risk Retention Regs Boost Mega-Bank Market Share – Debate continues over including a 20 percent down payment require… […]

by jberman
Posted on in Mortgage Regulation

Informal Evidence on Why Small Independent Mortgage Professionals Don’t Support NAMB

I’ve been watching a comment thread develop over at Think Big Work Small. The daily video blog by Frank Garay & Brian Stevens is a popular destination for originators in the mortgage industry. This particular piece was about NAMB & NAIHP each filing their own respective lawsuits to stop the Fed from implementing the new compensation regulation for mortgage originators which is set to begin April 1st, 2011. To gain some perspective, I thought it would be interesting to collect some of the “inspired” comments from the peanut gallery and group them by category. Valid feedback that NAMB & NAIHP should ponder “I have looked into joining NAMB in the past but haven’t because they make you go through your local/state organization that charges a very steep membership fee. Additionally, when NAMB sent out an email link asking for contributions a few months ago I was willing to give, but the link had a minimum donation amount of $200. That […]

by jberman
Posted on in General

JB Group Weekly Tweet Recap for 2011-03-13

Sweet! RT @thebrecklife: One Ski Hill Place in Breck announces Buyer Incentive Program. Free LIFETIME ski passes http://bit.ly/h0Njaj # RT @naihp: NAIHP files suit in U.S. District Court over Originator Comp Rule. # Loan Servicer Code of Conduct Proposed by State Officials and DOJ http://ow.ly/1bEZYa # HAMP: On the Chopping Block – Last week the House Financial Services Subcommittee on Insurance, Housing and Communit… http://ow.ly/1bG0hc # Based on the Linkedin Groups I'm in: Mortgage peeps are 25x more likely to post a motivational quote than an opinion on the comp. changes. # Loan Demand Rebounds from Holiday Influenced Slowdown – The MBA's loan application survey covers over 50% of all U.S… http://ow.ly/1bH1yO # Fewer Default Notices in February. Home Repos Restricted – Foreclosure filings of all types continued to decline dur… http://ow.ly/1bI34J # Principal Reduction Debate: Focused Attention Needed – Three Federal Reserve economists are out to debunk the theory… http://ow.ly/1bJ4HV #

by jberman
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