Broker Magazine articles from December 2008

Broker Magazine archives from December 2008

PRODUCT: Zero Tolerance for Zero Down; But have we truly seen the end of 100% financing? The industry has differing opinions.(Features)(Federal National Mortgage Association)
December 1, 2008... Byline: Amila Dymi In the U.S. and elsewhere in the world, lenders prefer to avoid the risk associated with 100% financing or no down payment loans. Most are not willing to add down payment assistance risk to the overall default and...

Dear Joel; Industry expert Joel Pate will be happy to answer your most pressing marketing questions each month in the Dear Joel column.(Advice)(Column)
December 1, 2008... I don't know how I am going to make it in the mortgage business with all of these lenders going broke and eliminating broker relationships. Do you have any advice? Yes. Imagine yourself on a desert island. Imagine that the only assets you...

PROFILE: Women at the Top; Karen Deis has written a book examining what makes up a successful woman mortgage originator and why women are attracted to the business. Karen Deis has written a book examining what makes up a successful woman mortgage originator and why women are attracted to the business.(Features)
December 1, 2008... Byline: Brad Finkelstein One of the more unusual aspects of the mortgage broker industry is its seeming lack of barriers. Because of its relative youth and entrepreneurial nature, a large number of groups outside the white male dominated...

Zero Tolerance on Mortgage Fraud.(Cover Story)(Conference notes)
December 1, 2008... Byline: James Comtois Lenders need to go back to the basics to catch origination fraud, said one expert during the SourceMedia Mortgage Fraud Conference in Las Vegas. Several speakers declared there must be a "zero tolerance" policy in...

Getting Stricter; Fannie Mae has new rules for conversions of residences to investment property.(Marketing Maven)(Federal National Mortgage Association)
December 1, 2008... Byline: Kim Payne It used to be easy to retain the old residence when your borrower wanted to move up to something bigger and better. Retaining that residence can make lots of sense. This is often the first venture into the world of owning...

Geogia Steele, Broker Reporter Passes Away.
December 1, 2008... Georgia Steele, who worked as a correspondent for Broker and its affiliated publications for nearly 20 years, died from injuries received in an automobile accident in her hometown of Seattle. She was 61 years old. Ms. Steele was killed in...

A New Beginning.(Editorial Report)
December 1, 2008... Byline: Brad Finkelstein, Editor In the past, this column has spoken about the need for change and how to deal with it. Starting with the January issue there will be a change at Broker. Mortgage industry publications, not just Broker,...

Adapting to Shifting Fraud Trends; Despite an increase in enforcement, fraudsters are always looking for and creating new angles to beat the system.(Cover Story)
December 1, 2008... Byline: James Comtois Committing fraud in the subprime market when the mortgage industry was flourishing (and due diligence and risk mitigation practices were lax) was relatively easy. Now with the mortgage, banking and credit industries...

ROUNDTABLE: If You're Going to San Francisco; Amid the protests at the Mortgage Bankers Association annual convention, our panel discussed the future of the wholesale channel.(Features)(Discussion)
December 1, 2008... MARK F.: The big news in the weeks before the convention is that a number of companies like GMAC and Citi have scaled back their wholesale operations or gotten out of the business. What is the future of wholesale? LISA: I see it as an...

Use People Priorities to Survive Economic Storm.(Short Sales)
December 1, 2008... Compounding problems the economy is giving to many sales organizations is that these firms have what one consulting firm described as "surprisingly ineffective sales forces beset by people problems that limit their ability to perform." The...