IMMAAG Alert: Fed & NAIHP/NAMB Appeal Briefs Filed with Circuit Court

IMMAAG Alert: Fed & NAIHP/NAMB Appeal Briefs Filed with Circuit Court

I’ve been a fan of Bill Kidwell & his efforts at IMMAAG for a long time. Bill & I served on the Colorado Association of Mortgage Brokers (CAMB) board back in the mid 2000’s. In fact, the first mortgage registration bill for Colorado was passed when we were serving as CAMB’s President & President-Elect respectively. Bill is a tireless source of effort and passion for the small independent mortgage originator industry. Successfully getting felons kicked out of the business in Colorado, Bill now focuses on legislative advocacy through his company, IMMAAG. IMMAAG advocates to stop unfair and unjust regulations being thrust on the small independent originator channel.  I consider Bill Kidwell a top resource for analysis and commentary, especially with respect to issues like Compensation. His most recent email post is particularly good and I wanted to share it with my readers. I encourage you to join his mailing list and support his efforts. He’s one of the good guys. ~ […]

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 […]

Should You Lock Your Mortgage Rate In Advance Of Tomorrow’s Federal Reserve Announcement?

The Federal Open Market Committee starts a 2-day meeting today in Washington.  The scheduled get-together ends at 2:15 PM ET Wednesday after which the FOMC will issue a press release to the markets. Consider locking your mortgage in advance of the press release.  The FOMC meets 8 times annually and its adjournments are among the biggest market-movers of the year.  The Fed’s post-meeting press release is a direct look into the mind of the Federal Reserve and Wall Street is looking for clues anywhere it can find them. After its August 2009 meeting, the FOMC said in its press release: Financial markets have improved, relative Household spending remains constrained Although weak, the economy is “leveling off” Since then, however, credit risks have lessened on Wall Street, consumer spending have shown signs of life and Fed Chairman Ben Bernanke said the recession is “very likely over”. This is why tomorrow’s FOMC press release is so important.  Markets don’t expect the Fed to raise or […]

The Federal Reserve Is Meeting And What It Means To Your Mortgage Rate

The Federal Open Market Committee begins a scheduled, 2-day meeting today to discuss the country’s monetary policy.  As is custom, the group will issue a press release to the markets upon adjournment. There are 8 scheduled FOMC get-togethers annually and the post-meeting press releases are among the most powerful market-moving events of the year. It’s not the Fed’s actual policy changes that causes fortunes to be won or lost, though. These changes can predicted and traded — and, therefore, hedged — on Wall Street using Fed Funds Rate Futures.  For example, Wall Street predicts with 97% certainty that the Federal Reserve will not make a policy change at this time. As opposed to than policy change, it’s the verbiage of the FOMC’s press release that can really move markets.  This is because the press release is a clear-eyed look into what the Federal Reserve thinks of the United States economy — its strengths, its weaknesses, and its threats. After its January 2009 […]