The title for this post should be “Are the people
at  HUD out of their fracking minds?”
HUD has extended the deadline for correspondent lenders (mortgage brokers) to provided their audited financials.
The big problem is that the extension period is useless. It’s a 30 day extension.
Since HUD has a proposed rule change in the works that will [...]

The new year brings in big changes for mortgage net branch managers. 2010 will see some of most sweeping changes in our industry.
If you are consider joining a mortgage company that offers a net branch opportunity you should be considering these changes before you decide on which company to join.
Big Net Worth Change for Net [...]

*** Update – TB&W has closed down mortgage operations!!
Taylor, Bean and Whitaker -12th largest mortgage lender loses FHA approval.
Taylor, Bean, and Whitaker was one the country’s top wholesale lenders serving 100’s of small mortgage shops across the country.
TB&W has 30 days to appeal the suspension but few have won an appeal and the blow [...]

Credit Repair and Loan Modification – Good or Bad For Net Branch Loan Officers?
I have noticed that there are several “side businesses” trying to recruit loan officers.
By “side businesses” I mean companies that offer services like credit repair or loan modification.
My in-box is full of offers and I see recruiting ads everywhere.
These companies are trying [...]

Why join a national mortgage branch company for FHA?
Instead of joining a net branch company to originate FHA loan wouldn’t it be better to get your own company approved by HUD to originate FHA loans?
In most cases the answer is no.
Let’s look at some of the costs associated with any mortgage company getting a HUD [...]