First they came for the mid-level bankers, and I did not speak out- because I was not a mid-level banker; Then they came for the appraisers, and I did not speak out- because I was not a appraiser; Then they came for the Mortgage Brokers, and I did not speak out- because I was not a Mortgage Broker; Then they came for the Consumers, and I did not speak out- because I was not a Consumer; Then they came for the REALTORS® - and there was no one left to speak out … (63 comments)
mortgage brokers: Punish The Perception No Matter Who It Hurts
- 01/25/09 11:45 AM
President Barack Hussain Obama, President of the United State of America's administration according to an article in the "International Herald Tribune" and on their web site: ttp://www.iht.com/articles/2009/01/25/america/25regulate.php that I found on the Drudge Report, is promising major changes in the way mortgage brokers exist! It says: "they would propose new federal standards for mortgage brokers who issued many unsuitable loans and are largely regulated by state officials." It's obvious that they mean "mortgage bankers" but it's highly unlikely that they care, brokers are what they hear in the sound byts so it's the brokers their going to get! Unfortunately, words do … (19 comments)
mortgage brokers: Fiduciary, Responsibility, Mortgage Brokers, and Evil
- 03/19/07 12:50 AM
Judge a man not by single words they expound, but rather by the character they demonstrate! Fiduciary is possibly the most misunderstood word in real estate and lending. Brian and I disagree on the application but treat our clients similarly. Our differences over fiduciary may come from our diversity, Brian is also a hard money broker with a prior responsibility to the lender, and a mortgage banker with his own money at risk (Mortgage brokers are subject to buying back fraudulent loans, also.) and a responsibility to his firm both supercede any fiduciary to an applicant. It matters not that the two of … (37 comments)
Then they came for the REALTORS®!
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