Mike8307: (February 01, 2011 8:28am)

Have to agree with Kaf.. here in Florida converting renters is tough. One thing overlooked, is that many renters are former owners, with foreclosures and shorts on their credit. This puts them in a 'timeout period' of 3 years.

kafprocessing: (February 01, 2011 7:55am)

Getting people to consider buying in Florida is a VERY hard sell. 12% unemployment, house prices continue to fall, brutal lender requirements and the daily pounding of bad news. One segment which will be the prime buyers in the next few years are those who did own but now rent. It is correct you can no longer talk about equity appreciation without being laughed at and the costs and overall uncertainty keeps people on the sidelines. However, and I know this is anecdotal, I have talked to folks who had foreclosure and BK in 2008 and now are back up to 670 credit. I imagine those with just a short sale or deed-in-lieu will recover even faster. My point is once someone has owned a home, no matter the experience, most will NEVER feel good renting. Here in South Florida, rents are going through the roof because many apartments were converted to condos during the boom. I believe the former owners will be back. Maybe not this year, but they wil be back.

dlaplume: (February 01, 2011 7:31am)

Hey Guys - I tried the link to Don's email and it takes me to my gmail account. Please repost since I'm not The Don. Thanks and thank you for the awesome tools you have been releasing along wiht th incredible ideas you share. You are both greatly appreciated!

Daggone: (February 01, 2011 7:30am)

Go to www.naihp.com website, go to call to action and ACT. I think it is pretty amazing the Egyptians in American hit the streets to protest about what is going on in Egypt and we Loan Originators and Appraisers cannot organize ourselves to react to what can only be unconstitutional price fixing! Tens of Thousands originators need to be following this link AND the NAMB link mentioned below! Can you say "I'm tired of it and I'm not going to take it any more"?

deblakeley: (February 01, 2011 7:07am)

My guys in Alabama have already been contacted, I have even heard back from them....hopefully we can kill this, before it decimates our earning potential.

mmt110: (February 01, 2011 6:55am)

Frank & Brian, the letter link isn't working. Are you able to fix this? Thank you for sharing!

Owl Tree: (February 01, 2011 6:49am)

800Fico....thanks for spreading the word. I contacted my congressman and both senators, and also contacted the Federal Reserve to advise them to delay the rule until it was properly consumer-tested. Everyone who originates loans needs to make themselves heard on this issue.

DanSchweihs: (February 01, 2011 6:24am)

Stated another way, BofA is acting very rationally. See my comment below.

DanSchweihs: (February 01, 2011 6:19am)

Filing false affidavits in court is a crime. Doing it once is a mistake but over and over again indicates intent, which makes it a crime. If BofA’s agent does this for them with BofAs knowledge, BofA is a co-conspirators in the commission of a crime. If a broker did this, they would be put in jail. The too-big-to-fail banks are too-big-to-fail and are politely told to try to refile accurate documents after they are caught committing perjury and fraud. It appears that the judge is apologizing to BofA for inconveniencing them. The whole system would get fixed if one BofA employee spent one night in jail. The other BofA employees would start to behave and take their customer's rights seriously. Until then, expect more of the same. If my dog pees in the house and there are no consequences, she will do it again.

Ezradams: (February 01, 2011 6:16am)

doitright is correct. In the past, the best hook was that the purchase of a property came with the potential for appreciation and a positive equity position....not in the cards at the present time. Cost to maintain and possible loss of equity is on everyone's mind. Oh, and how about all the crap required to get a mortgage? Buying is a tough sell!

doitright: (February 01, 2011 5:09am)

Just a bear when it comes to housing so here it comes . Marketing 101 you can not create need . That is the bottom line situational problem right now , there is no need for buying a home . Now you give renters 8,000 in tax credits that created a sale but the true need was the 8,000 not the house or shelter . There is no need to own a home , the amount of repairs , upkeep , payments , taxes , insurance it is way too high for waht you get . So what we will have in the next two years will be a fix in price based on demand . Demand is created by a need , and again show me the need to buy a home that is a depreciating asset? By the way if someone sent me an ad via my phone I would never ever shop there . More like a moble junk mail pain in the neck . Do you truly think this is great? Thanks

Divedude: (February 01, 2011 3:55am)

BOA should have added, "Please excuse our total lack of control and ability to run our company in a professional and ethical manner." While we are aware that we have detroyed the lives of millions, we are working dilgently to sweep this under the carpet.

800Fico: (February 01, 2011 3:32am)

Can you guys please get the word out on the below. Thanks NAMB Call to Action Delay the Fed Rule on LO Compensation Dial the U.S. Capitol Switchboard at (202) 224-3121 today! Ask to be connected to your Member of Congress' office Urge them to Delay the Fed Rule on LO Compensation Regulation Z: 12 CFR 226 ASK FOR THEIR EMAIL OR FAX NUMBER TO SEND YOUR LETTER Write your letter to the to the Federal Reserve Board and email or fax to your members of Congress. Also, please email a copy to [email protected]. A sample letter can be found here. Call Your Members of Congress Today. Urge them to Delay the Fed Rule on LO Compensation Regulation Z: 12 CFR 226 What: NAMB is issuing this action alert and calls on its members to contact their Senators' or Representative and urge them to stop the Fed's Rule on Loan Originators Compensation. Congress must examine this issue and call for an immediate delay in the rule so that it may be addressed in the CFPB and a complete compliance guide that answers all questions is published. First Step: Call your Members of Congress to voice your opposition to the Fed's rule on Loan Originator Compensation. Write: Write you