Bankers Advertising for More *Unlicensed* Brokers - 06/30/08 08:42 AM
It angers me - it really does. You may not see the ads or notice them as quickly as I do but they are there and in large quantity. I recently posted about FHA lenders advertising for unapproved brokers and loan officers to submit FHA loans to them. Seriously, this angers me deeply for several reasons not the least of which it is a grave violation of an approval process which is designed to help the people using and needing to use FHA insured loans. We spend thousands of dollars and hundreds of hours preparing for our HUD audits then these … (5 comments)

Walking the Violation Tightrope - Ethics Gone Missing - 06/18/08 02:12 PM
I have a rule of thumb: avoid any process that involves a loop hole in regulatory matters.
There are three things happening today in the wide open that I predict will be completely eliminated with or without federal prosecution of violators in the near public. In the mean time just because everyone else is doing it doesn't tempt me in the slightest. Surely some who read this will be either supplier or consumer of these services and I have no intention of personally offending you if you do. I do, however, call these practices into question and lobby for their cessation. … (3 comments)

Name Every Industry Required To Disclose Their Profit Directly to the Buyer - 06/16/08 01:57 PM
Challenge: let's list every industry whose participants are required to fully disclose all of their profits PRIOR TO or AT the time of the sale directly to the client ...
1. Mortgage Brokers
2.
Well, I just can't seem to think of any others. Here is a list to choose from - see which of these can be added to the list above:
1. Dentists
2. Doctors
3. Lawyers
4. Auto Dealers
5. Airlines
6. Movie Theatres
7. Banks
8. Home Builders
9. Clothing Retailers
10. Restaurants
11. Phone Companies
12. Computer Retailers
13. Sears, Macy's, Belks, etc.
I really … (7 comments)

FHA Down Payment Assistance Under Fire ... Again - 06/16/08 12:28 PM
It has just been a short while since Nehemiah, the not-for-profit corporation who has long helped families and single borrowers get into a home using FHA and their 3% down payment assistance. According to FHA chief, Brian Montgomery, said, "In these transactions, home sellers - or any entity that would profit from a sale - give 10% or 20% of the sale price to buyers, who can then use that cash as a down payment."
10%? 20%? Wow - we never did one over 3%
So what do you think? Should programs such as Nehemiah, be allowed to continue? If allowed … (9 comments)

Get Rich Quick: Flipping Pre-Foreclosures: Build Your Mega-Fortune Over Night! - 06/13/08 10:31 AM
Use my package as seen on TV and make millions overnight in this crazy real estate market! Come to my FREE FREE FREE seminar tonight in your town and start cashing checks tomorrow for tens of thousands of dollars! Download my FREE FREE FREE audio conference and learn how I started with NOTHING, I was flat broke and homeless - living in my car - and now I flip hundreds of homes every hour for millions in profit every day!
It's so simple even I did it and if I can do it YOU CAN TOO! Go from RAGS to RICHES … (8 comments)

Lender Update - LTV Changes are HERE ;) - 06/12/08 04:18 PM
I alluded to this several weeks ago (sorry for my absence I was quite sick for nearly 3 months) and now the time has come. The Mortgage Insurers are broke and have to fix it. This is nationwide regardless of the strength of your market area. According to most Mortgage Insurers the entire nation is in a declining market. What a great time to be a real estate investor!
General Specifications:
As previously notified, after today you will no longer be able to obtain commitments for mortgage insurance on loans with LTVs greater than 97%. Therefore, the following 100% LTV programs … (4 comments)

 
Success Rainmaker_large

Ken "Yes You Can" Cook

Marietta, GA

More about me…

Ken Cook, Brand Strategist

Address: Marietta, GA, 30062

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog