regulatory: Everyone wants to change compensation plans! - 05/11/07 10:41 AM
So one of my favorite hobbies is watching all of the people who don't really know or understand what the problem is or if there even is one. Just a moment ago I read a headline on Inman that seemed to suggest that mortgage brokers need to find a new way to be compensated; Time to change how loan brokers are compensated, and of course 60 Minutes will air a report this Sunday night on how real estate agents are compensated and I'm certain they will focus on all the negative and bad things that are found when paying someone a … (0 comments)

regulatory: SubPrime Lender stops funding loans. - 03/09/07 03:27 AM
So way back in 2002 was the first time I started to get a sense that subprime lending might have some challenges ahead. First I had a client who was forced to go subprime, and then a report was written by a non-profit consumer advocacy group, the Center for Community Change, starting me on my path of "paying attention" to what was going on in the industry.
A article on that report is available online -
The report and my client tumultuous transaction led me to believe that subprime lending might be helping to fuel some of the record real estate … (0 comments)

regulatory: Freddie Mac takes first Secondary Market stand agains Subprime lending - 03/01/07 06:19 AM
This week Freddie Mac announced that it will no longer purchase common subprime mortgages, becoming the first major secondary market player to stop putting subprime into its portfolio. The announcement this week should be no surprise to those who follow Freddie's anti-predatory lending practices. Freddie has been at the forefront of this for some time.
Freddie Mac will still purchase subprime Adjustable Rate Mortgages (ARM's) and securities backed by these loans where the home buyers are qualified at the fully-indexed and fully-amortized rates. Freddie Mac, the secondary mortgage purchaser created by Congress in 1970, hopes that by limiting the purchase to only these types of … (0 comments)

regulatory: Foreclosure Warnings still in the air - 01/26/07 10:10 AM
In reading through the current influx of daily email news items, I'm struck by a couple of recent ones that might indicate that perhaps some of the foreclosure market is still waiting to show up on our doorstep.
Realtor Magazine online posted "Trouble Ahead for Subprime Borrowers" which has a focus on the ARM market for these loans and the catch 22 that they borrowers will find themsleves, if they haven't already lost their homes. The numbers in the article are a staggering 2.2 Million households in the subprime market, with a cost to homeowners of over $164 Billion dollars.
An article in Business … (2 comments)

J. Markinson (DEC Inc.)

J. Markinson

Atlantic City, NJ

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