Archive for the ‘Industry Articles’ Category

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The July 2010 Senior Loan Officer Opinion Survey on Bank Lending Practices, released by the Federal Reserve Board (FRB), addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months. The survey included a set of special questions that asked respondents about lending to European firms and their affiliates and subsidiaries. This summary is based on responses from 57 domestic banks and 23 U.S. branches and agencies of foreign banks.¹Read more

Consider, for a moment, your next Facebook, Twitter or other social media status update declaring: “[Your name here] was featured on CNN today!” A seed of excitement that they know someone famous is now planted in the brains of whoever reads that post; that seed will sprout one day and find itself growing into a conversation they may be having with a co-worker, friend or family member of theirs.Read more

As I approach this, my last article as Certification Committee Chair of the National Association of Mortgage Brokers (NAMB), I am amazed at how quickly time seems to fly by in our daily lives. As we have all been preparing for SAFE Act Licensing and watching events in our industry unfold, time seems to be moving more for us than we may expected. Reflecting on the basic priorities this past year or two has strengthened some individuals, saw others leave our industry, and still has everyone evaluating what we should continue to do.Read more

Okay, that is a bad rhyme. But the truth is, we might as well be rubbing the bottle with the genie to see what is coming next. We have talked about this for months. The Federal Reserve Board has finally reached the date in which they are no longer purchasing Mortgage-Backed Securities (MBS). The devastation of the secondary market for home loans was one of the major effects of the financial meltdown which occurred over a year ago. The Fed took many definitive actions to keep rates down while the government took many other actions to right the financial ship.Read more

My article this month is really geared toward those individuals who have already taken the voluntary steps of validating the knowledge, skills and abilities they possess beyond the regular scope of our jobs. We have the attitude that our professions are worth the extra effort to become certified and proudly display those certifications. We realize the growing statistics that consumers are looking for those individuals who set themselves apart and are able to demonstrate their willingness to excel.Read more

Mention e-mail marketing to fellow mortgage brokers and you may find that many are still hesitant to move away from their tried and true snail mail methods. Others, however, are rapidly discovering that e-mail marketing is just about one of the most effective means of generating business. Want proof? When Shop.org surveyed retailers for their “State of Retailing Online 2009” report, they found that e-mail was the most-mentioned successful tactic overall.Read more

There seems to be some concern with a small number our members regarding what is happening in Washington, D.C. and what the National Association of Mortgage Brokers is doing to ensure our industry is being protected. Let me assure you that legislative protection is the highest priority of your association. Our staff and our lobby team are constantly monitoring Capitol Hill and the agencies to learn the hot issues of the day. The rapport we have on the Hill and with the agencies is the best we have ever experienced in the history of our association.Read more

In the early 1970s I was a young teenager who was completely caught up in the Zeitgeist. I admired the long-haired rebels and radicals who were engaged in protesting the establishment and developing the counter-culture. I didn’t really know what any of that meant, but to me it was all about empowering youth and declaring our independence from the adults. My parents in particular.Read more

The market for first-time homebuyers is as hot as it has ever been. With the government offering tax incentives, home prices down and interest rates low, homes are more affordable than they have affordable in history. Most of the recovery of the real estate market in the past year has been focused upon the lower end of the market.Read more

Given the unprecedented changes in mortgage lending, it’s reasonable, prudent and essential for all mortgage lenders to examine their business plans; joining a branching mortgage bank warrants consideration. For some brokers, the goal could be to just focus on sales and hope that the world we’ve all known will continue. This would be to not worry about the changes in U.S.Read more