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Reforms risk growth - Nationalpost.com

ank regulatory reforms now being considered will play a material role in setting the stage for the future prospects of our industry. Particularly in the U.S. and U.K., there is popular outrage about bank bail-outs, compounded by the recent profit ...

Tips of the Day - FOX6Now.com Milwaukee

Whether it's piping free Internet video to your TV rather than paying for cable, shopping smarter on the Web or ditching your landline phone and just using your cell, there are plenty of low-cost ways to keep yourself in the digital life to which you ...

Media Advisory - Need A Mortgage Industry Source for the Federal ... - CNW Group

Established in 1994, the Canadian Association of Accredited Mortgage Professionals (CAAMP) is Canada's national mortgage industry association. CAAMP has assumed a leadership role in the industry it serves and has set the standard for best practices ...

Should Fannie and Freddie be public utilities? - Real News Network

During his career he has reported from Mexico City, Saudi Arabia, Miami, Los Angeles and Washington ... Wall Street, during the boom, began to issue what's called private-label mortgage-backed securities to compete with Fannie and Freddie, and within ...

Home loan program extended to police, fire, ems workers - WPDE

(AP) -- A program designed to provide low-interest loans to teachers who are first-time home buyers has been expanded to include law enforcement officers, firefighters and first-responder emergency medical staff. The South Carolina State Housing ...

Briefly: March 3 - Abington Mariner

PLYMOUTH – Are you in the ninth or 10th grade and interested in playing AAU basketball this spring? The South Shore Defense Boy’s 15U and 16U AAU basketball teams, based in Plymouth, are looking for players to fill out their rosters for this ...

Sawgrass Marriott seeking bankruptcy protection - St. Augustine Record

TPC Sawgrass, which didn't file for bankruptcy, is the flagship facility of the PGA Tour's Tournament Players Club network ... helped finance the $220.5 million purchase of the 65-acre resort in Ponte Vedra Beach by RQB Resort and RQB Development.

State Mortgage Regulators Submit Comment to HUD on Proposed Rule ... - RealEstateRama

March 3, 2010 - (RealEstateRama) — The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) submitted a joint comment letter to the U.S. Department of Housing and Urban Development (HUD ...

Advantage Systems Achieves Record Sales in 2009 - PR Inside

Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced that it posted record sales in 2009, surpassing its previous highest sales year of 2006 by 6 percent. The sales figure ...

Real Estate Tips - Seattle Post Intelligencer

Another huge earthquake! Now the world is turning to Chile this week to offer assistance. Today's reports talked about 500,000 homes being affected and the deaths are climbing. The number of deaths will be far less than the number lost in Haiti ...

Resolved Question: Republicans....how do you feel about the banks taking advantage of red states ?

Link to what i'm talking about: http://finance.yahoo.com/news/Mortgage-l… We all know that the financial crisis didn't just affect Liberals, and didn't just affect Conservatives... we were all affected. People lost their homes and investments everywhere.... Some people aren't aware that even after foreclosure, giving it back to the bank, or short selling your home... you could still be on the hook for thousands of dollars of deficiency on your homes value. Many people are finding themselves in the circumstance described in the article..... bought a home when economy was good, economy tanks, home prices dive, lost jobs, foreclosure.... So can the bank hit you up directly for these enormous sums of money, even though the short sale or forelosure couldn't be done without the banks approval ? The answer is.... DEPENDS ON WHERE YOU LIVE. See ...the red state voters typically side with the banks, the corporate entities, and they elect politicians who are corporate minded people, good ol' supply side boys... they don't usually side with the consumer. This is the reason that Repulican led states, are mostly the states where the banks can pursue you, and they can wait up to five years...potentially increasing the loss to you on purpose.., before they file a judgement against you. So how do you feel about supporting politicians who side with the banks that are essentially picking on red states ? Try to follow this one.. This basically means that the bank losses from the banks in blue states, where they cannot pursue that negative equity, is going to be passed on, through distributed declines in home values, to red states where they can legally pursue it. Now...dont' get me wrong... I believe if you take out a loan, you should pay that loan off. You agreed to pay, you should pay. However... I also feel that the responsiblity for this "investment" should not just be on the consumer in the event that the value of that investment plummets. The bank made the loan with the intention of making money, but that profit intention is no more guaranteed than the equitability of that investement made jointly with the consumer. Additionally, there should not be a legal instrument, in which the lender can legally delay filing a judgement, for the purpose of increasing their claim. It would appear that practice is yet another practice, where the bank is taking advantage of the consumer, by placing all of the potential future losses of that property investement on consumer. What's worse is that they are doing these things using money that isn't even technically theirs. It's OURS. They're using Peter, to kill Paul. This is something everyone should be aware of, whether you are conservative or liberal, and especially if you are considering allowing your home to go into foreclosure. Check the laws in your state and get a lawyer before you do anything !! --------------------------------- "Once they have a judgment, they can pursue you anywhere," said Richard Zaretsky, a board-certified real estate attorney in West Palm Beach, Fla. "They can ask for financial records, have your wages garnished and, if you fail to respond, a judge can put you in jail." In the case of foreclosure, lenders can pursue deficiencies in more than 30 states, including Florida, New York and Texas, according to the U.S. Foreclosure Network, an organization of mortgage law firms. Some states, such as California, are "non-recourse" and don't allow deficiency judgments. But, even there, if the if the original loan was refinanced, some or all of it may be subject to claims.James... the lenders made bad loans on of their own free will...because they thought home prices would go up forever...so even if the consumer defaulted, they would have positive equity in the home itself allowing them to recoup the loan and still make a profit.... That is the simple truth to this whole thing man... Did people take those loans willingly ? of course.... and the banks made them willingly..because they were greedy.It boils down to this.... Should the bank be completely insulated from shady investments, and all of the reponsibility placed on the individual ? ..EVEN AFTER FORCLOSURE !??? Who advocates for the consumer in this capitalist equation ? more

Voting Question: Liberals... are red states getting what they deserved?

Or do you feel sorry for them ?... let me explain. Link to what i'm talking about: http://finance.yahoo.com/news/Mortgage-lenders-pursue-cnnm-3107909798.html?x=0 We all know that the financial crisis didn't just affect Liberals, and didn't just affect Conservatives... we were all affected. People lost their homes and investments everywhere.... Some people aren't aware that even after foreclosure, giving it back to the bank, or short selling your home... you could still be on the hook for thousands of dollars of deficiency on your homes value. Many people are finding themselves in the circumstance described in the article..... bought a home when economy was good, economy tanks, home prices dive, lost jobs, foreclosure.... So can the bank hit you up directly for these enormous sums of money, even though the short sale or forelosure couldn't be done without the banks approval ? The answer is.... Depends on where you live. See ...those red state voters often side with the bank, and they elect politicians who are corporate minded people, good ol' supply side boys... they don't usually side with the consumer. This is the reason that those are the states where the banks can wait up to five years...potentially increasing the loss to you on purpose, before they file a judgement against you. So even though we were all affected by this.... did red state's voters get what they deserve, for electing politicians who side with the banks before the people ? I believe if you take out a loan, you should pay that loan off. You agreed to pay, you should pay. However... I also feel that the responsiblity for this "investment" should not just be on the consumer in the event that the value of that investment plummets. The bank made the loan with the intention of making money, but that profit intention is no more guaranteed than the equitability of that investement made jointly with the consumer. Additionally, there should not be a legal instrument, in which the lender can legally delay filing a judgement, for the purpose of increasing their claim. It would appear that practice is yet another practice, where the bank is taking advantage of the consumer, by placing all of the potential future losses of that property investement on consumer. What's worse is that they are doing these things using money that isn't even technically theirs. It's OURS. Using Peter, to kill Paul. This is something everyone should be aware of, whether you are conservative or liberal, if you are considering allowing your home to go into foreclosure. Check the laws in your state. --------------------------------- "Once they have a judgment, they can pursue you anywhere," said Richard Zaretsky, a board-certified real estate attorney in West Palm Beach, Fla. "They can ask for financial records, have your wages garnished and, if you fail to respond, a judge can put you in jail." In the case of foreclosure, lenders can pursue deficiencies in more than 30 states, including Florida, New York and Texas, according to the U.S. Foreclosure Network, an organization of mortgage law firms. Some states, such as California, are "non-recourse" and don't allow deficiency judgments. But, even there, if the if the original loan was refinanced, some or all of it may be subject to claims.Congratulatoins Tripp...this post doesn't apply to you then... Guess the economy isn't all that bad then eh ?...YOU ARE STILL LOADED !....right ? Guess you can afford to pay more taxes then....lolDavid H...it affects you differently because the forclosure and lending laws are different by state. more

Voting Question: Liberals... are red states getting what they deserved?

Resolved Question: What shall I do about my business?

My head and my heart are in a battle. I have run a successful mortgage brokerage in the UK since 2001. Unfortunately since the market turned 2 years ago I have really struggled to keep going. I have business debts of around £18,000 - this includes my business overdraft,accountants & corporation tax bill. I want to keep going (my heart) but every month I am going deeper into debt as the new business just isn't coming in - people either are not moving or cant move. My head is telling me to walk away now and take whatever the consequences might be. I have done this job all my life since I was 18 (i'm now 42) and I dont know what else I could do as job except for things like taxi driving etc. The problem I have is that I have spent quite a bit of money now on advertising, promotion and networking groups - and whilst this had bought quite a few enquiries very little has turned into business as lenders wont lend or clients dont have big enough deposits or sufficient salary. I am really at the end of my tether and getting slowly more and more depressed. I would appreciate some honest opinions and advice more

Resolved Question: Can anyone help with economics?

Chapter 1 Introducing Money and the Financial System 1.1 Multiple Choice Questions 1) All of the following were events in the financial world in the early 2000s EXCEPT A) fears of deflation in Japan, the Eurozone, and the United States. B) governments of Eastern Europe abandoned communism. C) Argentina defaulted on its public debt. D) the value of the dollar declined significantly. 2) The financial system is primarily a means by which A) borrowers can use savers' funds until the savers themselves need the funds. B) money is put into circulation. C) the government puts into operation its plans for the economy. D) business firms distribute their goods. 3) Which of the following is NOT a financial instrument? A) a bond issued by Google B) Wachovia Bank C) A home mortgage loan D) a certificate of deposit 4) If you buy a bond issued by Intel, the bond is a(n): A) liability to Intel and an asset to you. B) liability to you and an asset to Intel. C) liability to both you and Intel. D) asset to both you and Intel. 5) Why would a saver with $10,000 be more likely to put it into a bank account than to lend it directly to a borrower? A) Direct loans of that sort are not legal in the United States. B) Banks pay higher interest rates on deposits than individual borrowers are likely to pay to individual lenders. C) It is easier and less risky to save money in a bank account and allow the bank to serve as a go-between with potential borrowers. D) Interest received from a bank is deductible on the federal income tax, whereas interest received from an individual borrower is not. Question Status: Previous Edition 6) Formerly in Eastern Europe and the Soviet Union, funds were transferred between savers and borrowers primarily through the A) banking system. B) stock market. C) bond market. D) government. Question Status: Previous Edition 7) The experiences of Eastern Europe and the former Soviet Union have demonstrated that A) using private networks in a financial system to channel funds from savers to borrowers is not a good approach. B) using the government to channel funds from savers to borrowers is not a good approach. C) the government can be very effective in increasing private saving. D) savers are usually willing to lend greater amounts than borrowers wish to borrow. Question Status: Previous Edition 8) Which of the following is NOT a key financial service provided by the financial system? A) Risk sharing B) Profitability C) Liquidity D) Information Question Status: Previous Edition 9) Economists define risk as A) the difference between the interest rate borrowers pay and the interest rate lenders receive. B) the degree of uncertainty of an asset's return. C) the ease with which an asset can be exchanged for other assets or for goods and services. D) the difference between the return on common stock and the return on corporate bonds. Question Status: Previous Edition 10) Economists define liquidity as A) the difference between the return on the asset and the return on a long-term U.S. Treasury bond. B) the fraction the asset makes up of an investor's portfolio. C) the ease with which an asset can be exchanged for other assets or for goods and services. D) the difference between the total demand for an asset and the total supply of the asset. Question Status: Previous Edition 11) Which of the following assets is the most liquid? A) Money market mutual fund B) Computer C) Washing machine D) U.S. Treasury bond Question Status: New 12) By providing and communicating information, the financial system A) reduces the difference between the return on three-month U.S. Treasury bills and the return on thirty-year U.S. Treasury bonds. B) relieves individual savers from the necessity of searching out individual borrowers. C) eliminates the risk in investing in the stock market. D) guarantees investors a reasonable return on their money. 13) Which of the following statements is correct? A) The financial sector is a large source of jobs in the U.S. economy, but a relatively small source of jobs in other major economies. B) The financial sector is a relatively small source of jobs in the U.S. economy, but a large source of jobs in other major economies. C) The financial sector is a large source of jobs in the U.S. and other major economies. D) The financial sector is a relative more

Voting Question: Did you hear an H-1b just about shut down Fannie Mae?

Fannie Mae Logic Bomb Attack 'Tip Of The Iceberg' By Stefanie Hoffman, ChannelWeb 7:02 PM EST Fri. Jan. 30, 2009 The contracted Fannie Mae engineer indicted Tuesday by the Justice Department for allegedly planting a logic bomb represents the beginning of a trend of insider attacks responding to layoffs and job insecurity because of the weak economy, experts say. "To me, this is the tip of the iceberg," said Mandeep Khera, chief marketing officer of security company Cenzic. "If a small percentage of these IT workers are going to the dark side, they could potentially cause a lot of damage." Federal investigators indicted Rajendrashinh Makwana, 35, a contracted Unix engineer for mortgage finance company Fannie Mae, for allegedly embedding malicious code known as a logic bomb in the mortgage lender's computer network, which was set to detonate on Jan. 31, 2009. Had the attack been successful, the malware could have destroyed the entirety of the data on all 4,000 of the mortgage finance company's servers and shut down the company for a week, experts say. http://www.crn.com/security/213000165imagine how much this would have added to the cost of the bailout more

Resolved Question: NC and SC realtors!!!?

I will be entering the broker side of mortgage origination next week. My question is how many NC/SC realtors have preferred lenders/brokers they work with? These are two states where I really don't know people through my previous work with a title company. How difficult is it to start working with a realtor in this area? I would like to start networking the area to see who I can assist and I can provide references on a national scale if necessary. Any advise would be greatly appreciated more

Resolved Question: HELP PLEASE- What will happen to my laptop/Outlook, when ex-employer cuts my network access?

have recently parted ways from the mortgage company I worked at, but still have access to my companies network, (Citrix/Encompass), and used the mail address they assigned for the past 2 yrs. but it is my own Outlook Program not theirs) that my email comes into. I have a lot of saved email, contacts, and get regular newsletters and communications from our lenders and need to know how this will be effected. (I've started a new business but have been afraid to use my own Oulook and have reverted to using yahoo email due to fear of data/email loss.) I would like to go back to using it but what can I expect to happen and what steps should I take to prepare for it?Maybe this helps...To access company programs, their outlook, etc, I click an icon on my desktop, this opens a new desktop where I can open their outlook program, explorer, etc...I did it to check (opened the outlook from their desktop) and probably shouldn't have, since I never use it, and a ton of email started pouring in, and some old stuff out, so I closed it quickly....^j^ I tried to follow your instructions but under my Local Disk C, I don't see an Outlook, if thats what you were saying (didn't quite follow your wording under #1) The same email address is set up under their desktop, as mine. When I learned that all email and contacts would become their property, I bought my own Outlook and set it up on my computer and used that instead. ^j^ , I did not see the mapped drive for their server like you explained but isn't the icon and link to their desktop the same thing you are describing? How can I tell whose server these email are being stored on? (thanks Mike d, but I'm ok)One more thing...I do have a yahoo address as well....should I email myself anthing that I want to make sure doesn't get lost. That would work to wouldn't it? I just need to know that my new business stuff will not be effected if I start using my outlook but haven't set that email address up to go to outlook yet (should I?) more

Resolved Question: If my employer disables my corporate email and network access, how will it effect my Outlook program etc?

I have recently parted ways from the mortgage company I worked at, but still have access to my companies network, (Citrix/Encompass), although I think it is just a matter of time before they realize it and cut it. I have been using my companys email address to recieve email in my own Outlook Program (not theirs). I have a lot of saved email, contacts, and get regular newsletters and communications from our lenders and need to know how this will be effected. (I've started a business but have been afraid to use my own Oulook and have reverted to using yahoo email due to fear of data/email loss.) I would like to go back to using it but what can I expect to happen and what steps should I take to prepare for it? more

Resolved Question: How do I get my 1098 from Mortgage Lenders Network???

I had a loan with Mortgage Lenders Network for my home that I sold in early 2007. I tried to contact them to get my 1098 but the no longer exist, foreclosure and bancrupcy in 2007. Does anybody have any idea how I can get my 1098????Please help. more

Resolved Question: Mortgage business in Texas?

I have been in the mortgage business for just about 9 months now. I just left a mortgage lender, where leads were provded for me. I am now working for a mortgage broker where I have to find my own leads. I'm in the DFW area and trying to network myself with realtors for business leads. What's the best way to go about doing that? I've hear that it's difficult to start business relationship with realtors that have been in business for a while because most of them are already working with a loan officer. How can I reach out to the newly licensed real estate agents in the DFW area? What other ways are there to generate quality leads? Any help at all will be very much appreciated! more

Resolved Question: Are "mortgage bankers" pretty much considered sleazy like used car salesmen?

My husband's background is in computer/hardware/network installaions, support, and maintenance etc. and instead of pursuing his Master's degree in an area like that, or better yet, getting CISSP certified -- he got a job as a mortgage banker for a large lender. I have my Master's in accounting and I work in financial and IT consulting - how can I become more comfortable with my husband's occupation and not feel like I'm telling people he's basically a used car salesman for loans? Mind you, I'm South Asian, and in our culture, it's usually expected that the man be something really respectable like a doctor, engineer, etc. Please help - no ignorant comments please. I love my husband and am very very very proud of his other accomplishments, how much he loves me and cares for me - I just want to be able to appreciate what he does...He's not a banker as in being at a physical bank, having bankers' hours, having every ridiculous day off, etc - rather he fields calls from the queue for at least 14 hours 5 days a week, and works about 16 hours or so on the weekends. He makes a pittance for all that hard work....Yes, that's what I feel too... but they do 'hook' you up if you get your mortgage with them... We just need to find a house. I think after we find a house etc. he'll start a business (his dream) or find some other type of job.... more

Welcome to Network

Latest Mortgage Lenders Network News

Reforms risk growth - Nationalpost.com

Tips of the Day - FOX6Now.com Milwaukee

Media Advisory - Need A Mortgage Industry Source for the Federal ... - CNW Group

Should Fannie and Freddie be public utilities? - Real News Network

Home loan program extended to police, fire, ems workers - WPDE

Briefly: March 3 - Abington Mariner

Sawgrass Marriott seeking bankruptcy protection - St. Augustine Record

State Mortgage Regulators Submit Comment to HUD on Proposed Rule ... - RealEstateRama

Advantage Systems Achieves Record Sales in 2009 - PR Inside

Real Estate Tips - Seattle Post Intelligencer

Mortgage Lenders Network Questions asked

Resolved Question: Republicans....how do you feel about the banks taking advantage of red states ?

Voting Question: Liberals... are red states getting what they deserved?

Voting Question: Liberals... are red states getting what they deserved?

Resolved Question: What shall I do about my business?

Resolved Question: Can anyone help with economics?

Voting Question: Did you hear an H-1b just about shut down Fannie Mae?

Resolved Question: NC and SC realtors!!!?

Resolved Question: HELP PLEASE- What will happen to my laptop/Outlook, when ex-employer cuts my network access?

Resolved Question: If my employer disables my corporate email and network access, how will it effect my Outlook program etc?

Resolved Question: How do I get my 1098 from Mortgage Lenders Network???

Resolved Question: Mortgage business in Texas?

Resolved Question: Are "mortgage bankers" pretty much considered sleazy like used car salesmen?

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