Springtime in Seattle — Its Beautiful! Its Magical! :-)

I’ve recently become enamored with Realty Times, a rank booster site for the real estate market. I love it because, eve

The Fed Leaves the Funds Rate Unchanged

It’s no surprise that the Federal Reserve left the funds rate at the current lows of 0 – 0.25% on the heals of continued

Merkley Amendment Will Transform LO Compensation

The Senate has passed an amendment to the Wall Street Reform bill that would ban loan originators from accepting compens

Friday’s Rates

What a news day for the mortgage industry.   This morning the SEC has charged Goldman Sachs with fraud involving subprim

The Federal Reserve’s proposed changes to Regulation Z (Truth in Lending)

If you’ve been following Ben Bernanke’s testimony on the Hill this week, you may have noticed him hinting about significant proposed changes to Reg Z and changes in how mortgage originators are compensated, leaving many of us in the industry wondering “what now”.   Don’t get me wrong, Reg Z could use some tweeking…it’s just that the mortgage […]

Michael Jackson is gone…

No Big Rate Surprise with the FOMC

The FOMC wrapped up their two day meeting leaving the Funds Rate unchanged.   The target rate is remaining at 0-0.25%.  Now that this decision has been formally announced, everyone will be reviewing the Fed’s statement for clues on when they will begin to raise the Fed Funds Rate. From today’s FOMC Statement: …the Committee expects that inflation […]

Are Loan Originators at Bank Home Loan Centers in Jeopardy?

I have been focused on what the big banks are doing to the mortgage broker industry because as someone who works for a correspondent lender, it’s closer to home.  I am convinced that the big players are attempting to wipe out the mortgage broker industry while smearing it with mortgage meltdown blame so they can keep their hands clean.   […]

Distressed Property Law Changes Pass the Legislature

Proposed changes to the Distressed Property Law have passed both branches of the Washington State Legislature and the bill is headed to Governor Gregoire’s desk for her signature.  You can read the changes here. Real estate agents and Realtors are now exempt “from the definition of “distressed home consultant” when the broker or salesperson is providing […]

FOMC leaves rates unchanged

There’s really nowhere to go but up with the target Fed Funds rate.   From the Press release: “To provide greater support to mortgage lending and housing markets, the Committee decided today to increase the size of the Federal Reserve’s balance sheet further by purchasing up to an additional $750 billion of agency mortgage-backed securities, bringing its […]