Comments on: Turn back the clock: the BS from 2004-05 http://blownmortgage.com/2008/04/25/turn-back-the-clock-the-bs-from-2004-05/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Fri, 20 Nov 2009 00:20:49 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: nickgogerty http://blownmortgage.com/2008/04/25/turn-back-the-clock-the-bs-from-2004-05/comment-page-1/#comment-12950 nickgogerty Sun, 27 Apr 2008 12:52:58 +0000 http://blownmortgage.com/?p=1011#comment-12950 affordability was flashing red the whole time...<br><a href="http://nickgogerty.typepad.com/designing_better_futures/2008/04/housing-afforda.html" rel="nofollow">http://nickgogerty.typepad.com/designing_better...</a> affordability was flashing red the whole time…
http://nickgogerty.typepad.com/designing_better...

]]> By: morganb http://blownmortgage.com/2008/04/25/turn-back-the-clock-the-bs-from-2004-05/comment-page-1/#comment-12949 morganb Fri, 25 Apr 2008 21:53:02 +0000 http://blownmortgage.com/?p=1011#comment-12949 wow - crazy. turning in to its own post.<br>morgan wow – crazy. turning in to its own post.
morgan

]]> By: vicatibm http://blownmortgage.com/2008/04/25/turn-back-the-clock-the-bs-from-2004-05/comment-page-1/#comment-12948 vicatibm Fri, 25 Apr 2008 21:49:03 +0000 http://blownmortgage.com/?p=1011#comment-12948 Mike:<br><br>Got this from Wells Fargo email today (from a mtg broker friend)............<br><br>READ: New Pricing Adjustors May be Implemented That Will Affect Your Commissions<br>Importance: High<br><br> <br><br>If you have any Loan in our system that is floating and not locked, you may want to consider locking it today to protect your commission.<br><br> <br><br>We are hearing of illiquidity in the secondary mortgage market, so there may be a new price adjuster of up to 3.00% coming on Monday to any loan locked after the implementation of a Credit Policy-related retraction or change, regardless of the status of your loan at the time of lock. <br><br> <br><br>Basically, we have loans in the pipeline that are in some form of approval or may even have a commitment BUT are not locked. A new price adjuster may be applied if a loan is not locked prior to the effective date of a policy change which eliminates or retracts a product, program or parameter. For committed loans, the adjuster will be added when the loan is locked.<br><br> <br><br>We do not know what changes may be coming, and we do not know what products or LTV?s will be affected until it is too late to protect your commissions.<br><br> <br><br>I know we talk a lot about pull through, but if you have a deal in our system and you?re waiting to get to docs before locking for a better price, you may want to lock today for 30 days and save your deal. Mike:

Got this from Wells Fargo email today (from a mtg broker friend)…………

READ: New Pricing Adjustors May be Implemented That Will Affect Your Commissions
Importance: High

If you have any Loan in our system that is floating and not locked, you may want to consider locking it today to protect your commission.

We are hearing of illiquidity in the secondary mortgage market, so there may be a new price adjuster of up to 3.00% coming on Monday to any loan locked after the implementation of a Credit Policy-related retraction or change, regardless of the status of your loan at the time of lock.

Basically, we have loans in the pipeline that are in some form of approval or may even have a commitment BUT are not locked. A new price adjuster may be applied if a loan is not locked prior to the effective date of a policy change which eliminates or retracts a product, program or parameter. For committed loans, the adjuster will be added when the loan is locked.

We do not know what changes may be coming, and we do not know what products or LTV?s will be affected until it is too late to protect your commissions.

I know we talk a lot about pull through, but if you have a deal in our system and you?re waiting to get to docs before locking for a better price, you may want to lock today for 30 days and save your deal.

]]>