Bookmark and Share

From the monthly archives:

December 2008

New report delivers bad (and good) news on mortgages

by Jay HammondDecember 22, 2008 Consumer Mortgage Tips

The Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS) issued their second OCC and OTS Mortgage Metrics Report on mortgage performance on December 22. As expected the number of delinquencies and foreclosures in process continued to rise. The number of newly initiated foreclosures, however, declined by 2.6 percent [...]

Comments Read the full article →

CRA Reader Response

by MorganDecember 20, 2008 Reader Response

This is a reader response from Jim Brown (no relation) to our recent post: The Blame Game Continued: Is CRA at Fault? Jim Brown is a 25 year veteran of the mortgage business managing sales and marketing.  If you’d like to respond at length to one of our posts send us an email at tips@blownmortgage.com.  [...]

Comments Read the full article →

Loan officers help your clients with their loan modifications

by MorganDecember 19, 2008 Loan modification

Disclosure: This post is about a loan modification program I participate in and get paid for.

FACT: There’s a huge need out there for people who are experts at loan modifications. Every day more than 500 people visit Blownmortgage.com from the Google search term “loan modification”.  Those people need help and I can’t give it to [...]

Comments Read the full article →

Stop the FHA Subprime End Run

by MorganDecember 19, 2008 FHA

Our Friends over at the Mortgage Lender Implode-O-Meter have issed a statement regarding the fishy-smelling goings-on regarding the uncertain future of FHA seller-funded downpayment assistance.  Here’s a bit of their press release for a synopsis on the problem:
The SFDPA practice was completely banned by the July 2008 housing bill, [...]

Comments Read the full article →

The Blame Game Continued: Is CRA at Fault?

by Jay HammondDecember 18, 2008 Credit

Is it possible that a law enacted to ensure banks serve the needs of the communities the are located in might be at the root of the current financial crisis? The idea that any one thing, be it an agency, a law, an event or a person, bears total responsibility for the situation is patently [...]

Comments Read the full article →

Where’s The Bottom?

by MorganDecember 17, 2008 Economy

A guest post from Frank Shump. Frank is a veteran from the financial services industry, and currently authors a blog called Thefinancecastle.com, which documents his thoughts on money matters and his adventures in self employment.
With credit beginning to show signs of thawing and the Fed taking unprecedented action in helping to fight falling home prices [...]

Comments Read the full article →

IRS Speeds Lien Relief

by Jay HammondDecember 17, 2008 Legislation

The Internal Revenue Service (IRS) is giving struggling American homeowners a gift this holiday season. No, they aren’t canceling homeowners’ tax debt. They are, however, making it easier for distressed homeowners to avoid having a federal tax lien block the sale or refinancing of a home. They are also expediting the process for requesting a [...]

Comments Read the full article →

New Service: Resume Donkey

by MorganDecember 17, 2008 Uncategorized

Hey Everyone,
Morgan here.  I wanted to let you know that today I am launching a new venture called Resume Donkey.  It’s the funny-named service that is dead serious about helping people get the job they want.  How do we do it?  Simple, we review our customers’ resumes and provide honest, best-practice feedback on how to [...]

Comments Read the full article →

(Not) Saved by Zero

by MorganDecember 16, 2008 Global Economy

I’m sure you’re familiar with the irritatingly-effective Toyota commerical that used the song “Saved By Zero” by the Fixx to promote car sales with 0% financing.  Well Bernanke could have busted out the boom box (or Toyota ad from YouTube) and blared the “saved by zero” hook over and over today with the Fed taking [...]

Comments Read the full article →

← Previous Entries

Next Entries →