Broker Magazine articles from May 2007

Broker Magazine archives from May 2007

The Loan Product Crisis.
May 1, 2007... The editorial calendar for Broker is set by the fall of the previous year. Yet our timing for scheduling our loan programs issue could not be more fortuitous, because programs are at the heart of the issues roiling the mortgage industry today....

Run Your Business Like a Coach.
May 1, 2007... Lynda McDermott, an expert on leadership and teams, said the same skills used by the coaches of the teams in the Final Four of the recent NCAA Men's Basketball Tournament can be used in your business. This is because of their similarities....

Survey: Relationship Between Balance and Ethics.
May 1, 2007... The 2007 Deloitte & Touche USA LLP Ethics & Workplace survey finds a strong relationship between people who exhibit positive ethical behavior and those who have a good balance on work/life issues. The survey also showed behaviors of...

How Great Leaders Talk the Walk.
May 1, 2007... Organizational performance expert Liz Bywater says, "If leadership is about influence, what is the conduit of influence? How do great leaders gain the support and commitment of their followers? How do they convey their ideals, goals and...

Growth Plan a Must.
May 1, 2007... A recent survey conducted for SunTrust Banks Inc., Atlanta, found that 59% of the business owners surveyed did not have a written growth plan. But the company said a well-thought-out growth plan with steps to communicate it broadly within...

Off to Jail: Those preying on troubled borrowers admit their crimes in cases in California and Kansas.
May 1, 2007... CALIFORNIA GUILTY PLEA IN FORECLOSURE SCAM After leading a real estate scam that targeted homeowners in the Central California area in default on their mortgages and falsely promised them help, a Downey resident pleaded guilty to...

A Changing Landscape: Will this list have many of these same companies next year?(growth of mortgage banks)
May 1, 2007... In the few months since the end of 2006, the mortgage industry has suffered some serious upheaval. In our list of the top 40 wholesalers for that year, some have been sold, while others are hanging on for dear life. And that list does not...

If the Suit Fits: Loan suitability standards may feel more like a straightjacket to the industry rather than a suit coat.
May 1, 2007... Loan suitability is a term that mortgage brokers need to get familiar with and do it quickly. It is an issue being driven by the subprime mortgage crisis, with large numbers of borrowers going into delinquency or foreclosure. It is...

A Shifting Problem: Our panel at the MBA Mortgage Fraud Conference in San Diego discusses how this issue has changed over time.(Discussion)
May 1, 2007... JAMES: How big do you see the scope of the (fraud) problem? MICHAEL: The problem has always been there, it's just more robust. The problem's more recognized now and we're seeing some new kinds of fraud out there, but it's just becoming a...

Is the Free Report Dead?: Or is it? Renaming your reports could bring in even more business.
May 1, 2007... You can get a free report for virtually anything these days. Radio and TV ads request that you call for one on the newest drug (hey, so what if you don't know what aliment the drug is supposed treat). They are rampant in the real estate,...

What Brokers Are Originating: As investors and wholesalers cut the number of products they are offering, or frequently changing the guidelines on the ones they do, the mortgage broker carries on.
May 1, 2007... The fallout from the subprime meltdown is being felt nationwide and making life more difficult for the nation's cadre of mortgage brokers. Caused by rising mortgage delinquency rates, the collapse of the subprime market has put lenders and...

Dear Brian: Industry expert Brian Sacks will be happy to answer your most pressing marketing questions each month in the Dear Brian column.(Column)
May 1, 2007... Dear Brian, I have been a loan officer since January of 2000, and in the mortgage business since 1996. I love this business, and cannot think of anything I would rather do. I just started at a new mortgage broker shop, and for the one...

Turning the Corner: In a sign of the maturity of the reverse mortgage, originators are coming up with variations of existing products as well as new proprietary products.
May 1, 2007... A reverse on the football field is a play designed to trap the defense on one side of the field, leaving the other side open for an opportunity at maximum yardage. New programs and variations on existing products in the reverse mortgage...

Alternatives to Subprime: The www.mortgagegrapevine.com community debates what's next.(Discussion)
May 1, 2007... Oh [Shoot]: How long will companies remain open given the current volume dry up? As a recent casualty of a subprime closing I have been aggressively meeting and interviewing with companies to land an AE position. Without exception, every...

The Broker Loan Guide.
May 1, 2007... Residential AgriCap Financial Corp. Program Name Bridge Loan Ag/ Farm Business Financing Min Credit Score 600 660 620 Max LTV/CLTV 65/65 65/65...

Advertisers' Index.
May 1, 2007... 1st Metropolitan 71 a la mode 35 Aegis Home Equity 46 AGRICAP 12 American Broker Conduit Cover 2 Amertime Mortgage Co 63 Argent Mortgage 29 CitiMortgage 31 Commercial Funding 42 Data Warehouse 67...