Category Archives: Loan Officer News
← Older postsMortgage Rates Hold Near Lows
July 5, 2011Mortgage interest remained near annual lows last week, with the 30-year fixed rate averaging 4.51 percent compared to the year’s low of 4.49 percent reached three weeks ago. The 15-year fixed rate, meanwhile, stood fast at 3.69 percent after hitting … Continue reading
Ellie Mae Refocuses on Mortgage Lenders
June 23, 2011The decline of mortgage brokers has had a profound affect on loan origination system provider Ellie Mae. As indicated by the Pleasanton, Calif.-based company’s disclosures to the Securities and Exchange Commission, its customer base has shifted dramatically from broker to … Continue reading
Mortgage Broker Numbers Continue to Dwindle
June 22, 2011Mortgage Broker numbers continued to dwindle in first quarter 2011 to the lowest level ever recorded by the National Association of Mortgage Brokers. An industry that once accounted for more than 30% of residential mortgage originations funded less than 7% … Continue reading
Mortgage Market Gains
March 23, 2011Lifted by a 5 percent rise in adjustable-rate activity, new mortgage inquiries were 2 percent higher this week. Mortgage rates improved, refinance share shrank and the jumbo-conforming spread widened. At 211 for the week ended Friday, the U.S. Mortgage Market … Continue reading
Fed Abandons Proposed TILA Rules
February 4, 2011Finalization of new Truth-in-Lending-Act rules by the Federal Reserve will likely be abandoned — a move mortgage bankers have been lobbying for.A statement Tuesday indicated the Federal Reserve Board does not expect to finalize three pending rulemakings under Regulation Z, … Continue reading
LO Compensation Guidance Gets 11th Hour Treatment by Federal Reserve
January 27, 2011The Board of Governors of the Federal Reserve System has announced the release of its “Compliance Guide to Small Entities” regarding Regulation Z: Loan Originator Compensation and Steering. The Compliance Guide summarizes and explains rules adopted by the Board, but … Continue reading
What's the "brick" that could catapult you to success?
June 28, 2010Technology is one of a very few places to look for a competitive edge. I embraced it early in my career and found that it helped set me apart. A couple of Twitter connections (Jwean and Andrewtberman) reminded me the … Continue reading
Greg Frost Sr.: Learn to succeed
June 28, 2010The great breakthroughs in your life will come when you realize that you can learn anything you need to learn to accomplish any goal that you set for yourself. This means that there are no limits on what you can … Continue reading
#Albuquerque among MSAs removed from "distressed" list
June 22, 2010Good news for the Duke City: Albuquerque is one of 105 metropolitan statistical areas (MSAs) to be taken off the PMI Distressed Markets List. As MortgageDaily.com reports (subscription required), the change is part of a spate of positive news: “Mortgage … Continue reading
FHA loans: Net worth timeline, new monthly scorecard
June 22, 2010The Federal Housing Administration (FHA) has been busy recently. We’ve written before about a move to raise the minimum net worth worth requirements for loan originators. The FHA recently set out a timeline for implementation (MortgageDaily.com; subscription required). Among the … Continue reading
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Greg Frost's Corner
I recently attended the annual Mortgage Bankers Association lobbying day in D.C. with 5 of my industry colleagues from New Mexico. It was a very insightful experience.
It is apparent to me that there is a prevailing feeling in both the House and Senate, along with the Executive Branch, that our government should reduce [...]
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