Real estate blog entries tagged with first national mortgage sources by William J. Archambault, Jr. (The Real Estate Investment Institute )

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first national mortgage sources: YSP Worth Rereading! - 04/01/09 11:20 AM

In light of Georgia bill SB 57 as discussed in Ken Cooks excellent blog The Attack on Yield Spread Premium Goes Mainstream and "The Mortgage Originator's" unsupported report of Congress considering the same thing, I'm reprinting my article from 2004 I'm told it was the most reprinted article on the subject that year, I know it was circulated on 3 contents and at least 4 languages. It sold a lot of books.
A Consumers Guide To Mortgage Brokers And The Evil Yield Spread Premium /action/blogs_admin/write/6544/action/blogs_admin/delete_entry/6544
Kick backs, hidden cost, back points, HUD (Housing and Urban Development) calls it "Yield Spread Premium" … (3 comments)

first national mortgage sources: My Second Annual Blog Index 2007 - 12/31/07 06:23 AM

I've posted 95 blogs here on Active Raine in 2007, most of them on Professionalism, many on the mortgage Crisis, much on pure Real Estate concepts, some Frivolous, and a few very Personal.
Today's message is a simple one:
Happy New Year! May personal and professional success fill your new year.
All my best,
Bill
My New Years Resolutions Regarding Active Rain 12-31-07 Frivolous
Twas The Night Before Christmas, Revisited 12-23-07 Frivolous
Prestidigitation Without the Half Naked Girl 12-16-07 Miss leading ads
A New Look At The Foreclosure Problem 12-11-07 Crisis
My First Sale and The Naked Amazon / A Haunted House 12-03-07 Frivolous
Les Pendens, Memorandum, Professionalism, and Buyer's … (4 comments)

first national mortgage sources: Advice From The Sunday Real Estate Section - 11/18/07 05:53 PM

Steven Leitman, wrote a short little blog: Short Sale Tip I commented on it because, I'm concerned about real estate advice coming newspapers. One of the comments was addressed directly to me, here is my response.
Mr. Ross,
I'd like to answer your question, but I don't think we have a common language. You and I use the same words but we don't use the same meanings.
With regard to defaults and "Short Selling" it's always an individual thing with the lender. The market is a huge consideration but the individual debtor is more important! Is the individual collectable? Can the bank recover … (4 comments)

first national mortgage sources: Feeding Frenzy! Bottom Feeding Sharks Masticating On The Gullible - 11/12/07 10:28 AM

Our local television and radio are loaded with commercials for Bankruptcy Attorneys, Not-for-profit Councilors, and Real Estate Sharks seeking to fleece and destroy Gullible Home owners! Using "shock and aw" miliary type tactics to harvest equities and shear the sheep! Incompetent and evil real estate "ho's," with out the knowledge and/or support to evaluate and advise their clients, destroy home owners and pollute the market they share with the true pros!
I teach opportunity real estate investing, but you don't have to read much of my ramblings to know that I believe in taking advantage of opportunity not people. There are more … (2 comments)

first national mortgage sources: "Cura Te Ipsum," Ancient Wisdom / Sarcasm, and Stupidly! - 11/05/07 07:47 AM

My friend, Brian Brady, recently imparted some great ancient wisdom, mixed well with sarcasm punctuated by the apathy and stupidly of the masses! See: The REALTOR's Argument For Loan Originator Licensing- Cura Te Ipsum
My purpose today is not to add to the licensing debate, I don't debate people I don't respect, and I don't respect the congressional low-lifes that are advocating licensing and restricting loan originators, to the determent of the public and the "American-Dream!"
I find the idea that more government "licensing" to be the solution pure stupidity! Yet no less than the NAR is suggesting this. See: The … (4 comments)

first national mortgage sources: Good Faith Estimate Revisited - 10/25/07 06:59 AM

The Good Faith Estimate is an "ESTIMATE" of the cost of the loan you've applied for.
All lenders are required to provided you with it and its' companion the "Truth in Lending" form within three days of your application.
We're going to go through it line by line, but the individual lines are unimportant! You should be concerned in the total cost of the loan not individual line items.
There's an old saying "figures never lie, but liars figure" it is never so true as it is in these two forms. Because, different rules apply to brokers as compared to bankers a … (9 comments)

first national mortgage sources: A Call I Wish I Hadn't Made - 10/23/07 09:35 AM

I got a letter though AR. A listing agent wanted an investor, was I or any of my people interested in this listing? A single family house in a distance state, appraised at $785,000.00, listed at $725,000.00, but only for home buyers, investors could buy it for $660,000.00! (I should have stopped at that point. I wonder how they put that into the MLS.)
Wow! A $125,000.00 in equity. Or, maybe $65,000.00! Did I want to refer an investor to make all this money? Can you believe it a $125,000.00 in free profit?
My reaction of course was are you kidding me? But, … (9 comments)

first national mortgage sources: Least we forget, possession is a negotiable item! - 10/15/07 07:43 AM

When I came west from Michigan twenty three years ago, I was shocked to learn that possession in Nevada and perhaps most of the West is excepted to pass on the day of closing. In my experience I knew closings get held up and sometimes blow-up! I found the idea both un-civilized and a grave violation of my view of the listing agents fiduciary to the seller. The only thing worse is possession before closing.
Many, if not most, sellers can't afford temporary housing until their home closes, let alone move out then have the sale fall through. Temporary housing while waiting for … (0 comments)

first national mortgage sources: Viva La Difference / Unjustified Assumptions - 10/02/07 03:10 PM

I wrote a blog about illegals and loan fraud and got a comment from a well intentioned writer that I just can't forget. I don't think the writer did anything but express the frustration we all feel, when we group people by heredity instead of their personal choices.
The comment: "It is amazing that many of todays top LO's are hispanic - I wonder how many of them belong in jail."
What's so "amazing?" Do you know how many Americans are Hispanic? Most LO's are licensed and often insured or bonded, I'm sure very few are illegals. I'll bet between us we can't find … (18 comments)

first national mortgage sources: Selling and Buying In A Down Market - 08/26/07 09:51 AM

The market is down! No question about it! Right? Well maybe. In many if not most neighborhoods prices are not what they were two years ago, but that doesn't necessarily mean people are losing money. It's likely most homes are worth more if not considerably more that what the owners paid for them.
Yes, there are major exceptions. If you bought a new home in Las Vegas in the last 3 or 4 years and have to leave don't look back you'll turn into a pillar of salt! It's likely you've been... (This is a family friendly blog.)
There is another name … (5 comments)

first national mortgage sources: Be Careful When Speaking Lender - 08/25/07 09:54 AM

I just left one of my long winded comments on Brian Brady's blog Speak English or Go Home! You should read that about the English only question. I wanted to add a short story about one of my non-English speaking clients.
I had done almost two dozen loans for a family who's primary language was Tagalog, when they refereed me to a brother who was moving to Las Vegas from the LA area. I was told that neither he nor his wife spoke English, I offered to have one of my Tagalog speaking Originators call. No it seems that the brother was … (5 comments)

first national mortgage sources: Give Them Something To Think About / Cut and Paste - 08/21/07 04:21 PM

"If you're going to cut and paste, give them something to think about" -- William J Archambault Jr
"You are not here merely to make a living. You are here inorder to enable the world to live more amply, with greatervision, with a finer spirit of hope and achievement. You arehere to enrich the world, and you impoverish yourself if youforget the errand."-- Woodrow Wilson
"There is always more than one way!" - William J Archambault Jr
"Knowledge is power." -- Sir Francis Bacon
Imagination is more important than knowledge. - Albert Einstein
"Experts work cheep." - William J Archambault Jr
"Today you are you, that is … (10 comments)

first national mortgage sources: Why We're On AR / A Clueless Critic - 08/19/07 10:20 AM

I got taken to task by a fellow AR commenter. I commented on a non-real estate blog (How Much is a Billion? ) because I had an opinion on the subject, I respected the Blogger, I like her writing, and I'm here to be seen. Being seen is after all the reason the blog was written in the first place, to that end I signed as I do all my blogs and most comments. In response I received a criticism from one of the commentors about "adverting" meaning my signature with my two companiesy and two web sites.
Personally, I thought the … (18 comments)

first national mortgage sources: I Dit It, I Did It! / Thanks Nathan Hartman - 08/15/07 07:40 AM

I was very empresses with Bryan Brady's pod casting Profitable Podcasting: My Equipment, but I didn't want to do phone interviews. I wanted to record some of my articles simply as an alternative presentation.
I simply wanted to be able to record and upload from my desk top or lap top computer. I Googled looking for a program and found one at a reasonable price, with a down loadable two week trial. I down loaded and subscribed to a host for my pod-cast, https://www.godaddy.com (a great host and reasonably priced) . Then I created a new domain for my pod-cast http://www.realtestatesage.info (Braggadocios? … (1 comments)

first national mortgage sources: I Got Rained On Today - 08/13/07 05:17 PM

Yes I got rained on today not once but three times and it feels good!
The simplest to explain was a letter from a fellow rainer who I'd lost track of, I responded and he did too. Three simple and short letters, but two of us feeling better, a good start to my day.
The second came as a real surprise, a new AR commercial real estate broker. I'll past in the letter.
"Bill,I saw your post on ActiveRain. Do you remember American Mortgage Network in Reno with Jerry ...?We were there together about 20 years ago.Reminiscingly, Jim Walker"
I responded, unfortunatly I didn't … (2 comments)

first national mortgage sources: Simple Wisdom - 08/12/07 04:50 AM

"Two roads diverged in a yellow wood... Two roads diverged in a wood, and I- I took the one less traveled by, and that made all the difference." (Robert Frost)
It's Sunday morning and as we start the day I often turn on the radio for background noise. Sundays I listen Glen Haege's, "America's Handy Man." I always enjoy his show, I grew up doing my own home maintenance, I understand and enjoy his ideas. Glen's instance access data base is something to envy, I wish I had my loan programs so accessible.
Then comes the weekly mortgage distortion show, it always makes … (6 comments)

first national mortgage sources: Arrogant Bigots - 05/16/07 11:53 AM

I started to answer a comment on one of my bloggs, and as so often happens when I'm commenting I got a little carried away. I posted the comment, but the more I looked at it the more I wanted everyone to see it, so after a short edit here it is.
Those that blame mortgage brokers for those nasty sub-prime loans forget that Borrowers received a "Good Faith Estimate" and "Truth in Lending" form when they applied for a loan or within 3 days there of! When a mortgage broker, submits a file to a wholesaler they will also send the … (39 comments)

first national mortgage sources: Real Estate Volume CDLVIII, Chapter 1372a: House 12 - 05/14/07 06:52 AM

My son, Eric has been telling me he's going to write down and number my stories for over twenty years. What I'm sharing here is from the 448th volume "A Decade In West Texas/One Eighteen Months" This is not Eric's version but rather from the 1100 volumes I wrote to provide a truthful and accurate account of what happened.
I'm repeating this story here because Melissa Kruse requested it, I Want 600 Points I had made a suggestion for inexpensive roach control on one of Rich Kruse ranting land lord blogs Landlord Man Rides Again and my sage wisdom had been ignored.
House … (6 comments)

first national mortgage sources: My Ambiguous Blogs - 04/12/07 07:09 PM

Back in mid 2005 I wrote an article called "A Consumers Guide To Mortgage Brokers and The Evil Yield Spread Premium" I syndicated it to promote my books and it was posted, reposed and printed around the world in at least 7 countries on 3 continents in English, French, and German that I know of. Then I got involved in Active Rain and posted it here on 10-30-06. This article has a life of it's own and nothing surprises me todayAl Rodenburg commented nicely on it. Al added a p. s. "it would be interesting to hear your points of view … (2 comments)

first national mortgage sources: Creating Equity From Nothing - 09/08/06 04:05 PM

I write about and teach real estate investing in distressed properties, opportunity properties, yet I keep hearing about people who knew someone in trouble that didn't act to help. All to often they did nothing because they didn't believe the property had any equity to save. Worst of all are the would be "Bird Dogs" who say I thought I had an opportunity for you but the owners had no equity! I want to scream!
Maybe it's the TV infomercial gurus showing all those big checks, implying that people are anxious to give you huge equities just for asking. They didn't … (3 comments)

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