The NMP Blog

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. 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

Are you the Solution or the Problem?

Submitted by Tom Ninness on August 20, 2009

As any sales professional knows, customer service is #1. Without it, your customers or clients will likely not be sending referrals and your Professional Referral Sources will be hesitant with leads. Make sure with every transaction you are not only the expert, the go-to person and the team extraordinaire but the solution to the client's every problem.
This doesn't mean you have the... Read More

Why my Fridays stink! (more bank closings)

Submitted by Andrew T Berman on August 14, 2009

OK, they are not that bad. Heck, I love know that I will have two days of not being 100% focused on work and get to spend time with my family. What I don't like about Friday is that Friday the FDIC releases its hit list of bank closings.
Bank Closing - Union Bank, N.A., Gilbert, AZ: On August 14, 2009, the FDIC was named as Receiver for Union Bank, N.A., Gilbert, AZ by the Office of the... Read More

TB&W mess is only going to get uglier

Submitted by Ian Wright on August 14, 2009

While many people are lamenting the collapse of TB&W, in truth it should be celebrated.
I'm sorry for the many fine innocent employees who have lost jobs, but the truth of the matter is TB&W was a bad company. Loose underwriting controls and a "we'll fund it" approach to business is what brought this once giant company down. Corporate recklessness and greed, things we thought... Read More

Sneak peek at National Mortgage Professional Magazine August 2009 issue

Submitted by Andrew T Berman on August 07, 2009

Compliance technology
This month, we took a deep look into compliance technology and how it affects mortgage professionals. Included in this section is Informative Research's Brad Kelso's article "Will You be Red Flags Compliant?" As a side note, I just saw Brad speak at a convention in California where he polled the room on just how many in attendance had their Red Flags compliance... Read More