rule changes: What the Dodd-Frank Reform Act Means to CONSUMERS & LENDERS!!!! - 07/27/10 05:22 AM
No doubt you have heard some chatter, some factual and some false, about how the Dodd-Frank (Financial Reform) Act will alter the way in which lenders can compensate loan officers in the future. Let's address some of the facts based on the actual language in the law, keeping in mind that the provisions in the law will be the subject of new regulations which will be issued in the future and will likely contain additional details and may come from an interpretation of the law different than we expect.  In short, there will be modifications that are both positive and negative.  What … (4 comments)

rule changes: Rules, Rules, Rules.....oh, by the way.....MORE RULES!- - - - I JUST WANT TO SERVE MY CLIENT!!!! - 07/26/10 05:01 AM
I want to blog and post more posts, but the reality is that I'm spending more and more time learning and learning and being so "damn defensive," that it's hard to serve.  Now don't get me wrong, but take a few moments and listen to my story.
I am a mortgage banker, but I've always been an attorney.  A licensed real estate attorney.  I have to abide by the code of ethics in order to remain a member of the Illinois Bar.  This means that I can't do things that are illegal, but I also, on top of everything, must adhere to … (41 comments)

rule changes: A Kick in the Nuts with Appraisals.... Realtors and Consumers Take Note! - 02/03/09 12:31 AM
Andrew Coumo threatened action against Fannie Mae and Freddie Mac making claims that Fannie Mae and Freddie Mac failed in providing proper oversight with appraisals.  It's argued that Fannie Mae dropped the ball as there was not a proper degree of separation when ordering appraisals.  Needless to say, a new rule is being implemented to change the way that appraisals are ordered. 
TIMEOUT COMMENTARY:  Coumo has decided to punish 98% of the consumers because 2% of the consumers were really hurt by bad appraisals, straw borrowers and the lot.  Don't get me wrong, the mortgage industry didn't act harshly enough or quickly enough when fraud was … (17 comments)

Larry Bettag, Regional Vice-President (Larry Bettag - Cherry Creek Mortgage) Ambassador large

Larry Bettag

Regional Vice-President

Saint Charles, IL

More about me…

Larry Bettag - Cherry Creek Mortgage

Address: 40W310 LaFox Road, Saint Charles, IL, 60175

Office: (630) 524-9677

Mobile: (630) 417-7172

Email Me

 1 “Let not your heart be troubled; you believe in God, believe also in Me. 2 In My Father’s house are many mansions; if it were not so, I would have told you. I go to prepare a place for you. 3 And if I go and prepare a place for you, I will come again and receive you to Myself; that where I am, there you may be also. 4 And where I go you know, and the way you know.”(John 14:1-4, New King James Version) Follow this blog Larry Bettag var _gaq = _gaq || []; _gaq.push(['_setAccount', 'UA-17798043-1']); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + ''; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s); })();




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