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Featured Articles

Texas Home Equity Loans

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Question: We are going to be offering home equity loans in Texas soon. What are the requirements and restrictions for making a home equity loan in Texas?

Answer ...
The law establishing limitations on home equity lending in Texas is governed by Article XVI, Section 50 of the Texas Constitution. A home equity loan is one of the enumerated permissible purposes for establishing a lien on a homestead. [Tex. Const. art. XVI, § 50 (a)(6)] Click to continue

Number Crunched: Is Industry Data Adding Up?

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The acclaimed writer and futurist Alvin Toffler once remarked, “You can use all the quantitative data you can get, but you still have to distrust it and use your own intelligence and judgment.”

Of course, Toffler was not talking about surplus amount of data relating to the housing industry and the mortgage market. However, the excess quantity of data servings sometimes creates a contradictory picture, creating both confusion and bemusement across the industry.Click to continue

Time-Wasters: Are You Guilty?

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Let us face the facts … time is the currency of life and it is sacred. In sales, you only have so many hours in the day to manage your work and your personal time. Do you make the best of your time or do your bad habits contribute to you accomplishing less than you should in a day? Some days it may feel like workloads are piling up, but the hours are not. The first step to addressing time-wasting is to identify the types of time-wasters.Click to continue

Inspirational Leadership

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There are numerous schools of thought regarding whether you can groom a leader or if certain people have the predisposition to be better leaders than others. The same question arises regarding our personalities. Wikipedia states, “The study of personality has a broad and varied history in psychology with an abundance of theoretical traditions. The major theories include dispositional (trait) perspective, psychodynamic, humanistic, biological, behaviorist, evolutionary and social learning perspective.Click to continue

What About Those Consumers Who Fall Outside of QM?

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Just a few months into the era of qualified mortgage (QM) lending and loan origination levels are lows last seen in 2008. Stories about consumers who seem like they should be able to qualify, but are unable to secure an approval, are on the rise. There has already been a hearing on Capitol Hill regarding the potential QM pitfalls and there are several entities looking at ways to approve more consumers without repeating previous mistakes that led to the very tight lending standards now in place.Click to continue

The Elite Performer: The Mentor and the Protégé

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Every Monday night, I attend a men’s group where we discuss life, family and faith. Each week brings a new discussion, and everyone’s background creates a unique perspective. We recently spoke about others who have influenced our personal and professional lives and how we can also individually impact the lives of others. We addressed, in detail, the benefits of having both a mentor and a protégé in our lives. It got me thinking about who in my life I have had as a mentor over the years, and who I might have considered to be my protégé.Click to continue

The Credit Conundrum

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American consumers with poor credit face quite a conundrum and most of them don’t even know it. Consumers all share one basic need: Good credit. As well all know, good credit allows consumers to obtain credit and loans at the best interest rates. That means a consumer with good credit can shop around for the best rates. They have choices.

Bad credit equates to fewer choices for the consumer. Most lenders prefer consumers with good credit and offer such consumers the best interest rates and lending terms.Click to continue

The Hedgehog and the Fox: A Regulatory Parable

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The 7th Century BCE Greek lyric poet, Archilochus, observed: "The fox knows many things, but the hedgehog knows one big thing.”1 Twenty-two centuries later, Erasmus transliterated Archilochus’s dictum by precisely rendering it into the Latin aphorism: “Multa novit vulpes, verum echinus unum magnum.”2 When it comes to these two ways of thinking and acting, things didn’t change much between the 7th Century BCE and the 16th century CE, when Erasmus penned his elucidation.Click to continue