In July, the Consumer Financial Protection Bureau (CFPB) entered into the first consent order affecting third-party service provider violations. ACE Cash Express Inc., a payday lender, agreed to pay $10 million to settle allegations of improper debt-collection activities.Click to continue
Like they say, everything in life starts with an idea. Ideas are defined and construed as mental representational images of some object. They can also be abstract concepts that do not present as mental images. The capacity to create and understand the meaning of ideas is considered to be an essential and defining feature of human beings. That brings up a good point.Click to continue
Is a Chinese romantic comedy fueling a rush in trans-Pacific investment in pricey Seattle real estate? Or is this simply a case of movie-fueled wishful thinking?Click to continue
When it comes to U.S. residential real estate, Los Angeles is the primary gateway destination for international buyers coming from across both oceans and up from Latin America.Click to continue
Andre is very successful at attracting mortgage prospects and refinancing existing clients. But as rates increase and more adjustable clients have already moved to fixed rate loans, it has become harder to make money. Andre would love to talk to his past borrowers about investing their home equity for retirement, but he doesn’t know how to start the conversation.Click to continue
My first advice to a young loan officer just starting out with my company would be to immediately go out and buy a brand new house, a new car and to charge up all of their credit cards. This way, they would be heavily in debt and be forced to do lots of loans. I say this jokingly, but truth be told, money is one of the best motivators for people. It becomes addictive. The more you make, the more you want to make.Click to continue
Today’s senior homebuyers now have access to a powerful traditional mortgage alternative when considering the purchase of a new primary residence. Imagine purchasing a new home and no monthly payment is required!Click to continue
One of the most abused clichés in the English language involves the concept of a drinking glass filled to the halfway mark: The too-obvious question is whether the glass is half-full or half-empty.Click to continue
Question: I heard that there are some impending changes concerning FHA loans involving prepayment penalties and adjustable-rate mortgages (ARMs). Would you please clarify?
On Aug. 26, 2014, FHA announced changes under 24 CFR 203 involving (1) the elimination of “post-payment” interest aka “prepayment penalties” on FHA-insured loans, and (2) notice requirements concerning interest rate changes on FHA-insured Adjustable Rate Mortgages (ARM). Click to continue
How does a company rebuild trust after a layoff? Is it best to push past the layoffs and hope no one notices? Not in today’s environment. Not if you expect to be in business tomorrow.
We know that companies that weather layoffs most successfully are those that communicate the decision honestly to all the stakeholders it touches. But most companies are so focused on the internal aspects of this difficult decision that they choose to ignore its external impact. This puts their company’s reputation in jeopardy.Click to continue