Mortgage Pro Week in Review~02/02/2009 thru 02/08/2009

Services for Real Estate Pros with Auto & Home & Life Insurance throughout North Carolina

I was honored when Jeff Belonger asked me to write this week's Mortgage Pro Week in Review.

Let's face it.  We live in interesting times.  There will come a day when textbooks being taught to future generations cite these very times.  Luckily, we have some savvy folks to learn from and to generate a pro-active way to not only survive, but thrive here forth.

Like many, I have much to whine about and much to be thankful for.  I am in the Mortgage Business, after all.  Given the general atmosphere of things, if you had told me eight short years ago that I'd be in this gig, I would of asked you "What exactly is in that pipe you are smoking?"  But I wouldn't trade it for an autographed Mickey Mantle jock strap.  It is, in many ways, a true honor to have the knowledge and experience of so many at my fingertips.  Likewise, it is just as much of an honor to be able to wrap some of the better articles pertaining to the Mortgage Industry into a post such as this. 

Without further delay, here we go:

1st Time Homebuyer Toolkit - Part II by Tracy Santrock

What a plethora of valuable information and resources Tracy put together with this one.  Heck, Tracy's post is a Review in of itself.  Nicely done, my fellow North Carolina friend.

Buyers say "NO" to Closing Costs.  What will the Sellers say?  by Christopher and Stephanie Somers

Well, I'm not sure what the Sellers will say... but the Somers Team said this quite well.  Closing costs are still one of the more misunderstood phenoms in the Mortgage Industry.  Reading that post will do wonders for one's understanding of the process.

The Hidden Agenda of Banks: Why Mortgage Brokers Will Become Extinct by Janet Guilbault

Few inspire conversation like this lady.  The comment threads that are born out of Janet's posts can be quite awesome.  This one is no different.  Janet continues to be one of the more prolific writers on everything "Mortgage".  I take no shame in admitting that she is one of my favorites.

There Is Always More Than One Way / Then And Now by Bill Archambault

I once referred to Bill as the "Babe Ruth of the Lending Industry" though when I found out he doesn't drink, that threw that particular analogy out the window.  In my eyes, few are more wise than his soul.  His take on the entire Real Estate Industry is nothing to sneeze at.  God forbid, you may actually learn something.

Mortgage Loans Can Be ........... Like Whisper Down The Valley by Scott Geary

What was once a childhood game has turned into a bold-faced reality.  With changes so rampant in the Mortgage Industry, it is not hard to get inaccurate information along the way.  Don't fall prey to that Whisper, just get the facts.  See your familiar expert.

Holding Fellow Lenders to a higher standard!  Misinformation is the leading candidate for confusion!  by Darin Osenberg

Speaking of which, I do believe Darin hits the proverbial nail on the head.  And you thought I was a bit edgy:)  Get this man some Diphenhydramine.  On a serious note, well done Mr. D.

Okay, I have to stop here.  I mean, who is really going to click on and read every link that is provided?  I would bet my left earlobe that nobody will.  None the less, what a vast resource for information we have going on.  I suppose I will take comfort in that.  Sorry, carrying on...

FICO No Longer Available To Consumers by Eleanor Thorne

Frankly, this stuff amazes me.  I'm all for Transparency and I think it is long overdue that the Credit Reporting Modules follow suit.  They are currently wagging the dog, which I don't agree with but can't much change anytime soon.  To anyone who "wags" the dog, just be prepared to clean up the inevitable feces along the way.

Should we run our COUNTRY like a business or like a soup kitchen? - Food for thought.... by Jeff Belonger

Personally, I like soup but I smell what Jeff is cooking.  Some very interesting things to consider for every tax payer and law maker out there reading the World Wide Web.  Just consider what he is saying, that is all I ask.

Does a Tell-All Confession Make For The Best Resume' - Ever? by Ron Withers

I read the story in full, even before Ron wrote about it.  It's sickening but was the inspiration for something I posted recently.  On a sidenote, I was humbled in being able to speak to Ron when I gave him a call over the weekend.  Good guy, smart man. 

And lastly, though I don't always believe in happy endings... this one kind of stirred meJeff Geoghan wrote a post that may hit home for many in our industry, many more in this life.  Folks, that is star-worthy on so many fronts...

The following is a legal bore.  Be yourself and you won't have to worry about this jargon...

We really could use some new volunteers for the Mortgage Pro Week in Review. Even if you are a realtor, a title person, or someone else that is related to the mortgage/real estate industry..... please read below.

Mortgage blogs by loan officers   Here is a list of Loan Officers.  If you are not listed, please email Jeff Belonger to be added. This way the person doing the Mortgage Pro week in review can try and find most mortgage related posts in one section. ActiveRain is growing rapidly and it is difficult to keep up.... If you think you have been ignored, you have not. This is open to all!!!  Update : 1/23/09 - The AR groups only show about 35 people, but hold an unlimited number. So just ask...

All About Mortgages/Mortgage Networking   Here is a group that many loan officers post their mortgage related blogs in.  A good place to learn more about the type of programs, new industry news, and sometimes some inside tips. Don't hesitate to join.

The FHA Mortgage Group - Here is a group that specifically talks about FHA, FHA updates, and what FHA can do for your buyers and sellers.

Mortgages - Another group with anything and everything about mortgages. A diversified group.


MORTGAGE PRO Week in Review    A repository for the Mortgage Week in Review.  Please don't hesitate in joining this group. And any volunteers for the mortgage week in review, please e-mail Jeff Belonger at

   1.    Volunteer                    02/09/2009   through  02/15/2009

   2.    Darin Osenberg         02/16/2009   through   02/22/2009

   3.  Midori Miller      02/23/2009   through  03/01/2009


There will be no recreations of any type regarding the titles or content of this group or Review without the permission and expressed written consent of the Group's founder

Mortgage Pro Week In Review - Copyright 2009©



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Bill Nazur
First Lending Solutions - Riverside, CA

Well since I've been away, it is utterly appropriate that I read a little when the Great Sardi puts out a weekly review! Woo hoo!!!

Feb 09, 2009 03:12 PM #18
JB Brookman
JB Brookman Photography - Franklin, TN
High School Senior Portrait Photographer

Jason- I appreciate you taking the time to compile these incredible posts!  I will be well informed because of this.  Thank you!

Feb 09, 2009 05:15 PM #19
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Jason, Thanks for putting this together.I have missed most of these so I have a lot of reading to do.

Feb 09, 2009 08:58 PM #20
Mark Watterson
Salt Lake City, UT
Utah Real Estate

I like the this summary of post.  I will bookmark and read through them.

Feb 09, 2009 11:21 PM #21
James Wexler - Scottsdale, AZ

great information (as usual) , I saw something from the CEO of Pimco that exptected interest rates (mortgage rates) to 4.5% !  any thoughts ??

Feb 10, 2009 01:36 AM #22
Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

James -  My off the cuff feeling is we will see one more somewhat significant drop in rates before they will creep back up and remain somewhat stable throughout the year.  Rates dipped a tad this morning.

Feb 10, 2009 01:42 AM #23
Greg Knowles Santa Barbara Ca.
Fidelity National Title Group-Santa Barbara - Santa Barbara, CA

Wow, I didn't realize how much of an intellectual base there was in the lending field on ActiveRain. Very impressive.

Feb 10, 2009 02:08 AM #24
Midori Miller
Talk 2 Midori, LLC - Daytona Beach, FL
Online Marketing For Real Estate Professionals

Jason-great job and I have lots to read about!  As always a wonderful job for those that put this together!

Feb 10, 2009 02:35 AM #25
Kathy Jackson
Montpelier, IL
CDPE, Your Tri-State Real Estate Expert


I plan to read these over the next few evenings.  Thanks for putting these together!

Feb 10, 2009 06:04 AM #26
Kristin Moran
Owner - RE/MAX Access - - San Antonio, TX
San Antonio,TX - Real Estate - 210-313-7397

Some good stuff that I need to go back and read.  I always appreciate the time it takes to put these together so i read what's suggested! KM

Feb 10, 2009 07:31 AM #27
Janet Guilbault
Platinum Home Mortgage Company - Walnut Creek, CA
San Francisco Bay Area Direct Mortgage Lender

Considering the wealth of talent here on the Rain, it is an honor to be in this group! Thank you Jason!

The post I wrote is just okay. The comments it inspired are great.  Who would have known so many people were thinking about this subject and willing to write such long and expressive comments? Seriously, comments on this post far out shine the post itself.

PS....sorry about the outsider who got so blasted negative at the end of the comment thread. Some subscribers begged me to delete this mortgage broker basher, and although I found his perspective quite disturbing, I believe we should consider all points of view on posts like this.

Read his comments at your own risk!!!

Feb 10, 2009 11:53 AM #28
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

I like your posts, but do you think your "self-portrait" could be a little more professional?  Looks like you're posting an ad on Craigs List, IMHO

Feb 10, 2009 01:27 PM #29
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

I like your posts, but do you think your "self-portrait" could be a little more professional?  Looks like you're posting an ad on Craigs List, IMHO

Feb 10, 2009 01:27 PM #30
Suzanne Sands
Pavao Real Estate - Somerset, MA
Somerset MA Real Estate

Hi Jason,

Good job putting this together, nice to see some Realtors writing on the mortgage side of things. :)

Feb 10, 2009 03:29 PM #31
Gerry Suarez Jr.
Jet Home Loans NMLS 1660135 - Maitland, FL
FL Mortgage Guru

Mr. Sardi,

An awesome compilation of great material with one great obviously overlooked. Why not one of your posts?!

Thanks for doing the hard work and picking the cherries for us.

Gerry Suarez, Jr.

Your FHA Loan Pro!


Feb 11, 2009 12:43 AM #32
Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

Carla - My mother would agree with you.  Personally, I like the picture but do appreciate your opinion.

Gerry - I don't believe in doing a Review and including one of my own if I am writing the Review.  That's just me, though.

Feb 11, 2009 12:56 AM #33
Russell Lewis
Realty Austin, Austin Texas Real Estate - Austin, TX

Jason, I really appreciate when you and others take the time to post articles about the mortgage business. It's such an excellent way to find and read good, pertinent info so I can at least keep up in a way that allows me to understand your business! I am not a LENDER and never will be, that's your expertise and I am happy to keep it that way! Have a good week my friend! BTW doing a week in review and including one of your own excellent posts is fine if it fits!


Feb 12, 2009 12:18 AM #34
Marie Ogle
Mortgage Processing Solutions - Spokane, WA
Contract Mortgage Processor

Bookmarking this one.  I've already read of few of these but you have some that I missed.  Great job. 

Feb 12, 2009 02:59 PM #35
Ron Withers ----Retired Mortgage Professional
Kissimmee, FL


Thanks for the mention is this edition of MortgagePro as well as your kind remarks.  It was a distinct pleasure to speak with you and share some thoughts and opinions on the "Price of Eggs in Russia!" Come to think of it...maybe it may come to be the price of eggs in the USA if we don't watch our P's and Q's.;)

As a footnote which was not added to my post.  This mortgage fraud dude had chartered a private jet to Ireland...hmm why Ireland?...anyway this joker was stupid enough to return to the USA and get nabbed almost immediately.  He had $70,000 stuffed in his shoes. It is almost like he wanted to get caught...guilty conscientious....maybe?

Feb 20, 2009 08:53 PM #36
Debe Maxwell, CRS | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Hi again Jason!  WOW--two little gold ones in a ROW!  This is a tough compilation of posts and you did a superb job as always.  Thanks for the list--I've got WAAY too much reading to do now!

Debe in Charlotte
Feb 21, 2009 02:26 AM #37
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