The Florida Office of Financial Regulation (OFR) has changed its licensing requirements: Earlier this year the OFR passed a mandate that mortgage processors and underwriters must become licensed as loan originators. This requirement has been reversed, because "underwriters did not clearly fit [the] description" of a "loan originator."

On Aug. 17, 2010, the OFR provided a legal opinion, issued by Jenny S. Kim, the OFR's Assistant General Counsel, which gave the following clarification to substantially the following question:Read more

With the morning mist still on the Hudson River, and the sun just kissing the cliff tops of the New Jersey Palisade, Aaron Burr, Vice President of the United States shot and killed former Secretary of the Treasury, Alexander Hamilton. Political opponents for years, the duelists faced each other after Burr sent these words to Hamilton: “Political opposition can never absolve gentlemen from the necessity of a rigid adherence to the laws of honor.”Read more

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

From Greece to Korea to the Gulf. Does that just about cover the globe? When we talk about a “global economy,” now it has some specific meaning. In previous columns, I mused about how hard predicting the future really is. If anyone could predict the future, frankly they would be doing something else for a living. Most likely it would be on the beach. Let me ask you, how many predictions did you read that rates would be heading down to their absolute lows as the summer approached?Read more

It's doesn't take a genius to know that the wholesale channel now represents less than the inverse of what it did once control. What remaining players are left have strong business models that are relationship-based and that are not relying on rate drops and market fluctuations.Read more

We are in the first six months of 2010 and I am beginning to see the trends that are taking place in the industry as a result of post closing quality control audits. The industry is still looking good in the number of quality loans that any investor would want to purchase on the secondary market. However, we are seeing a decrease in Excellent Ranking decrease 9.47 percent.Read more

In an age where the act of being “social” actually does happen in the comfort of your own home, office or car, the opportunity for business growth is increasingly more obtainable. Today, more than ever, the sales and marketing field has a real opportunity to take public relations to the next level, the individual level. The days of group categorization by way of one brand are long gone. In our current economy, we, as sales professionals, represent our company’s brand along side our own.Read more

During the 1996 Summer Olympics, I saw a young athlete with his brand new silver medal around his neck and a massive smile on his face. He was so thrilled with his achievement that he was mixing and mingling with everyone he met on the sidewalk. Perfect strangers were shaking his hand, slapping him on the back, and having their picture taken with him. I did not know who he was, but it was clear that he was relishing the highest point of his life to date.Read more

Last month, we talked about the Fed pulling the plug and pondered what would happen with regard to the markets. Of course, predictions about the future are all but impossible in any market. However, we were quite comfortable letting everyone know to be prepared for a higher level of volatility. Despite this level of comfort, we were not prepared for what we will now dub “Scary Thursday.” Who could have foreseen the Dow plummeting 400 points in a matter of minutes?Read more

Seventeen years ago, I became the president of my community association. It was a lively organization with scores of activist members who were busy gentrifying an inner city neighborhood. One of my responsibilities was to deliver a monthly speech and conduct a formal meeting with a loud and raucous crowd.Read more