The NMP Blog

Tee UP for Greater Business Success

Submitted by National Mortga... on November 13, 2009

Tee Up for Greater Business Success
You’re just 24 hours away from a hole in one.
by: Bill Madonna
Bill Madonna Golf Academy
Golf has long been a part of business and, those that play "business golf" know it benefits them in their business relationships. But how exactly, and... how much?
In a Golf Digest article it was pointed out that many factors go into... Read More

H.R. 3706 - REALLY bad legislation

Submitted by James Barnes on October 07, 2009

This new bill by Congressman Garrett and supported by Fed Chairman Bernake, requires 5% down on FHA loans and requires buyers to pay their own closing costs. This will DEVASTATE the already slow real state market. Please see this website and write Cong. Garrett to stop this bill!
http://www.opencongress.org/bill/111-h3706/show

WEBINAR 9-22-9: Title holders post foreclosure must give residential tenants at least 90 days notice to vacate.

Submitted by National Mortga... on September 18, 2009

On and after May 20, 2009 federal Public Law No 111-22 mandates that successors-in-interest take title subject to existing lease and forbids eviction of tenants by such successors at foreclosure with less than 90 days notice to vacate.
Free - one-hour webinar will explain law.
Webinar for Lenders on Protecting Tenants at Foreclosure Act (PTFA)
On Tuesday, September 22, at 2:... Read More

Christopher Jared Warren- Nevada County Jail & TBW Lack of Oversight

Submitted by Michael S. Rich... on September 09, 2009

Warren was 19 when he was hired by Ameriquest Mortgage Co. He became a top-producer.
Selling around $5 million in high-interest loans and earning $30,000 per month. "My managers and handlers taught me the ins and outs of mortgage fraud, drugs, sex, and money, money and more money," he wrote. His manager, a friend, handed out the crystal methamphetamine to keep loan officers up and at... Read More

Taylor, Bean & Whitaker

Submitted by Michael S. Rich... on September 09, 2009

Looks like TBW had a lot going on!
Victor Cedeno was a loss mitigation negotiator in the loan resolution management department at the Ocala, Fla.-based company Taylor, Bean & Whitaker. A spokesman for the U.S. Attorney office said Mr. Cedeno is being sought by authorities.
Cedeno faces charges he allegedly stole more than $1.6 million from Taylor, Bean & Whitaker by... Read More

Mortgage Fraud, let's not just talk about it this time, take action!

Submitted by Michael S. Rich... on September 04, 2009

Once a white-collar criminal gets away with fraud, the process quickly becomes addictive. Success breeds more success, and before long such crafters of fraudulent mortgage loans clearly begin feeling that not only are they above the law but in fact, they are not doing anything wrong in the first place. Fraud can happen to anyone: loan officers, processors, underwriters, buyers, sellers,... Read More

Old fashioned Networking is THE New-Fangled Career Booster

Submitted by Connections on August 28, 2009

Old fashioned Networking is
THE New-Fangled Career Booster
… Employed and unemployed alike are rediscovering the benefits of getting out and shaking hands.
In an uncertain economy and job market, an old fashioned strategy still reigns supreme, as more and more professionals are going back to the basics by just getting out there and meeting people.
Entrepreneur.com... Read More

Bad TV commercials

Submitted by Ian Wright on August 27, 2009

OK, Last night was the final straw. I'm sick and tired of these mortgage companies making commercials that look like news programs. Fake anchor people and reporters in the field; "The federal government has authorized "so and so" to provide low cost FHA mortgages to homeowners in trouble". These stupid advertisements mislead the public. They are created to instill fear in homeowners to use... Read More

Can you help struggling Mortgage Brokers and Loan Officers?

Submitted by Andrew T Berman on August 27, 2009

Over the last few weeks I have been talking to a host of Mortgage Brokers and Loan Officers that have been really struggling this year. In some cases, season vets with 10+ years experience of doing honest, ethical, and profitable originations, just leaving the business. Oddly enough, I have talked to Mortgage Brokers and Loan Officers that have been thriving and are having a GREAT year.... Read More

Credit Repair - A Warning For Mortgage Professionals

Submitted by tconwell on August 23, 2009

In an attempt to help mortgage applicants qualify, (or to generate additional income), Some mortgage brokers and bankers are engaging in or referring their applicants to credit repair firms. For mortgage professionals, credit repair can be a risky choice.
To clarify, Credit Repair is charging consumers a fee for the promise of improving their credit report and is governed by Federal law... Read More