Fannie Mae is Paying Closing Costs Through May 1st. 02.01.10
Do you think the Fed's will leave MBS purchasing completely? Fannie Mae is paying closing costs on their REO's. 40 ways to use Twitter. How well do you sleep knowing that Barney Frank is in charge or your industry? Should we support Cuomo's competitors for the NY Governor race?
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stever: (February 17, 2010 7:59am)
I have seen a ton of activity for Chase and other trying to do loan mods. Now after watching the Video I can easily see the BLACK BOX or Long Term Capital Management approach of The big banks slowing down and buying stock in ONEWESTBANK looking at a $2.2 BILLION Dollars profit over the next 2 years! DUH> Slow down your company, But stock in One West and show a 50% gain
Consumers end up paying: (February 03, 2010 8:22am)
http://www.youtube.com/watch?v=lDUpXwoj5Ck
Anonymous: (February 02, 2010 5:22pm)
Sorry, It is not worth watching with the rapid fire delivery.
Critic:: (February 02, 2010 2:03pm)
Brian and Frank... You guys have great information, but you deliver it so rapid fire, that it is discouraging to try to pick up on what you said, and what we missed... Remember part of your audience really does try to hear you, and also what is going on in the office around us at the same time. This is a tough assignment most days!!! Lighten up, guys!
Paper Boy Appraiser: (February 01, 2010 9:50pm)
I'd help fund the other guy if he comes out and says he's against HVCC. I'm from California and what idiot Coumo did to my family and the way I can run my business, I will never forget. To not be able to bring in only $3,000 in the last 6 months of 2009 is beyond poverty. I was able to provide for my family for 17 years as an Appraiser. I went from a profession making good hard earned money to making less than a paper boy. This guy has an ego bigger than the Great Pumpkin. What ever it takes to bring him down, I'm in. Let us know more about his opponent.
Bono Vox: (February 01, 2010 9:23pm)
I'm hours behind here, but two thoughts: 1) Brian, don't leave the hair product at home tomorrow! 2) The Fed doesn't have to buy MBS. Thanks to the Christmas Eve surprise, Fannie and Freddie have a blank check from Congress to buy as much as they'd like. Check it out in the WSJ Archives.
Valuequestor: (February 01, 2010 6:09pm)
Frank! Brian!.... Did I miss something? I have not heard a thing from you guys promoting Marc Savitt's grass roots organization for Real Estate Pros and workers, the National Association of Independent Housing Professionals (NAIHP). The web page is up he has an office in DC, they have the best lobbyists on call. Shouldn't we all be joining this organization for $50 per year and get professional representation? Let these guys suggest an effective add campaign. I will not be giving my money to a NY politician. People...this thing is out of New York...its national and the machine is running. As a group we might affect the NY race but for what purpose, revenge? OK that does sound good!...but is it the best use of our $$'s. Frank and Brian...are you guys still behind what Marc Savitt is doing??
5pence: (February 01, 2010 5:12pm)
For around a $100 I'd love to see Cuomo get his due - it'd be worth every penny. I'm sure Frank and Brian are brainstorming. I'm really glad these guys are on our side. Great shows too :^)
5pence: (February 01, 2010 4:59pm)
Valuequestor, nobody knows the housing markets like we appraisers do - no one! We personally inspect and value hundreds of homes a year and do market analysis on thousands of properties EACH YEAR! No one in real estate knows the market like we do. And yet, even though we're the experts, no one asks us any questions. It really doesn't make any sense at all, to me anyway. We all knew it was coming. Paulson I wouldn't trust as far as I could throw him. He was the front man for the criminal activities going on behind the scenes. Still, he had to know it was going on during his watch. Lie and protect imo. Real Appraiser - That would be a first! lol. Out of state (50 states) supporters for a Governors race hahahaa. You're right, if they got scared that Brown won, wait till they see our efforts to stop a sure win by Cuomo... and we succeed ! He brought it on himself, imposing his will across state lines and enacting a blatantly self-serving HVCC for the benefit of private interests. Putz
SoCalApprs2: (February 01, 2010 4:57pm)
Ancient Appraiser- I think a full page ad in the major newspapers across the U.S. would do well. We could explain not only what is wrong with HVCC, but why is was illegally put together and how it is not legal in regards to RESPA, APA and RFA.
real appraiser: (February 01, 2010 4:33pm)
This goes beyond what NY needs or wants, He should have not gotten into a national fight. I think some research has to be done on his opponent, If this guys understands that an anti-hvcc stand could bring in millions to his campaign, I think he would jump at it in a heart beat. Think of the media attention drawn on a national level of politicians being funded by out of their state donations. I think this could be huge. Imagine this guy with no where near the funds suddenly head to head because of HVCC, Same might go for the others, barney and friends. We could send a very scary message to them all!
Valuequestor: (February 01, 2010 4:33pm)
I'm sitting here listening to Paulson struggle to keep up with Larry Kudlow on CNBC. If he stutters one more time I'm going to start shooting spit balls at the screen....or find an old dart gun. I can't believe both of these guys are talking about not recognizing signs that the economy was in for trouble in late 2007 or early 2008. HMOJ! I don't know an appraiser in Virginia with half a brain that didn't know we were in trouble by Feb of 2007. I was warning all my lending clients and builders to stay away from "investors" back in 2006, maybe before that. Is this an act with Paulson? Could he be as stupid as he comes across? Is he typical of BIG BANKERS?!
5pence: (February 01, 2010 4:10pm)
Cuomo should have stuck to NY with his HVCC. Now he's got a nation full of appraisers and brokers pissed at this ignominius bastard. He wasn't happy with HVCC in NY only, he had to be a big shot and tell the entire country how to do things (the wrong way). How many people are declaring bankruptcy because he's literally stolen their livelihoods and careers? Schmuck
lets do SOMETHING: (February 01, 2010 3:46pm)
The full page ad sounds great but a website with a pledge or a way to total funds to an opponent in a state election based on damage done to a nation by the indivdual CUOMO would get the medias attention the greater it grows and do not think it would not be seen by the CUOMO himself. If it gets big enough he will back track. When was the last time all states combined to get a state governor to lose the race. HAS THAT EVER HAPPENED? I am in for $100
ARMtgGal: (February 01, 2010 3:25pm)
HomePath is a great NOO program. Also, if the house needs repairs it's awesome. It can get a primary buyer in for 3% down. Can't beat that on a house that FHA, VA and USDA won't finance!
Suffering in South Florida: (February 01, 2010 3:02pm)
Our industry doesn't need HVCC, and never did. Nor does NY need Andrew Cuomo. I want to see this guy lose no matter what. We need to "sunset" his run for any political office, and now. HVCC has one purpose, to put appraisers and mortgage brokers out of business.
NORTHERN CALIFORNIA APPRAISER: (February 01, 2010 2:52pm)
I like the website idea "People Against Cuomo For Governor" that "Payback" wrote about. It can have a link people can click on to donate to pay for ads against Coumo. It should be done quickly. It can galvanize opposition to Coumo without jumping on the Lazio bandwagon too hastily. Does anybody know where Lazio stands on our issues? He may not be better. We don't have to go so far as supporting Lazio, but we can certainly start damaging Coumo asap.
Dave: (February 01, 2010 2:50pm)
I would absolutly put $100 toward making it possible to keep Cuomo out of the governor's mansion. You have heard of girls gone wild.... well regarding our industy it is government gone wild and it is time to get out the message of what barney, andrew, etc.. have done to our industry. Just my two cents....
Teed off Appraiser: (February 01, 2010 2:43pm)
$100 that's only two 1004 appraisals done for an AMC. I'm in!!!
spearo: (February 01, 2010 2:13pm)
The natives are restless today. To all interested parties who are ready to donate in some way to stop Cuomo, I think we should wait a short time until we have a response from Marc Savitts office on his last visit to Cuomo's office. Sounds like there may be some amendments to the HVCC but we need to know what they are before we commit. As I said before, I'm committing some $$ toward Cuomo's opponent but this should be "subject to" the outcome of amendments to the HVCC. It may be a positive change.
Payback time with Coumo: (February 01, 2010 2:03pm)
Someone needs to start a website called "the people against Coumo for NY Govenor" and then lets all send contributions. lets get the media stirred up as this is the best time to do so considering that happened in MASS with Brown, the media are crying out for dirt on bastards like Coumo. Lets go appraisers..its payback time
NORTHERN CALIFORNIA APPRAISER: (February 01, 2010 2:02pm)
Cuomo needs to lose. We need BIG negative ads now. I don't think Lazio is particularly good & I don't want to support someone who may turn out to be equally bad. But Cuomo needs to be weakened soon, because that may encourage someone else to enter the race. Turning Cuomo into damaged goods as soon as possible could change the race for governor into a whole different game. We can't just sit back & do nothing, because this guy could end up running for president a few years down the road, if he is not stopped now.
Teed off Appraiser: (February 01, 2010 1:58pm)
AMC Equifax: "In an effort to reduce overall costs Equifax Settlement Services has began an initiative to lower vendor fees for all single family, multi-family, drive by, review, and FHA reports. This fee reduction will lower your current fees by 10% and will go into effect 2/18/2010. This reduction will place our fees more in line with competitive prices in the current market place. If you do not wish to comply, please email by 2/12/2010. If we receive no response, then it will be assumed that you have found the "CHANGES ACCEPTABLE". " "WE VALUE YOUR PARTNERSHIP"!!!!! HA! Are you kidding me? What kind of crap is this? The HVCC is to make sure there is no pressure on an appraiser????? Anyone see, I don't know, pressure here???? An amc represents more than one bank. If they can have so much pressure on an appraiser to take a manditory pay cut... Does Andrew Cuomo really believe they aren't pressuring for anything else? Please tell me this is going to end soon!!!
Carpe: (February 01, 2010 1:14pm)
I agree with 5pence. These are not mutually exclusive. We can support his opponent as well as run a targeted add in a heavily read N.Y. paper. Since some of us are discussing a contribution, we could donate collectively thru a 3rd party group (ie:TBWS, Marc Savitts group @ naihp.org,,etc.) with any total to be contributed toward those 2 options. We can get updates on this site prior to the N.Y. Governors race.
GODLIKE: (February 01, 2010 1:05pm)
I'm not sure how Homepath is a positive thing for mortgage companies, especially brokers. So I'm glad it's got strings that make it unattractive to the majority of people out there buying homes right now.
5pence: (February 01, 2010 12:56pm)
Why pay for an ad when we can get free press coverage in all the papers for why we've chosen to support his opponent? Our reasons would cause quite a stir. The Ad idea floated around about a year ago. Here's a link to USA Today which I was told was most widely read in NY-last year anyway. Do we want to reach a national audience or just NY? Maybe the NY Times would be better, cheaper maybe and if it is we can post our concerns more often. http://www.usatoday.com/marketing/media_kit/images/2009_USA_TODAY_Rate_Card.pdf ..... It's $120k for a full page ad M-Th and $146k for Friday for National. Not sure how much just for NY.
DAG: (February 01, 2010 12:38pm)
Ancient Appraiser - I agree wholeheartedly. A full page ad, or several would go a long way. I'm not sure throwing money at an opponent about whom we know nothing would help. I believe the only help for appraisers and brokers is getting it out in the open. The time is ripe to bring this whole mess to the public's eye. We are all sick of the check book doing the talking in Washington.
Anonymous: (February 01, 2010 12:36pm)
maybe we should put some of our money together to hire a smart attorney for the Class Action Lawsuit. That would gather some attention!
Ancient Appraiser: (February 01, 2010 12:31pm)
Has anybody ever looked into the cost of a full page ad in a New York paper detailing the overall destruction of our industry caused by Cuomo's dumb ass Code? Now that I would put money into !!
Wheres my dacks?: (February 01, 2010 12:14pm)
Wheres the Docs, wheres the Dacks at? where is the loan dacs going out? Why are dacks not out yet? There are the most predictable words your agent will ever mutter? they begin to sound like a monkey after the 6th request hahahahaah
Mark Madsen: (February 01, 2010 12:01pm)
Brian - Here's a good video about Twitter for you: http://www.youtube.com/watch?v=PN2HAroA12w
Spearo: (February 01, 2010 11:55am)
Count me in for $100 to defeat Cuomo. I know $100 may be too much or too little for everyone but whatever you can afford will help. Question is, do we support his opponent in the primary or general election? Is there an opponent in the primary? CA Appraiser
Mortgage NY: (February 01, 2010 11:46am)
JBT, that company maybe offering a money management system so that you use a credit card/ line of credit and then you take advantage of the interest grace period to pay down on your mortgage and all of your bills quicker. If you do it right, you won't pay any interest, etc...or it could be a HELOC that preaches something similar...as for Lazio, he couldn't beat Hillary Clinton when she was less than 50% favorable. He blew that race after Rudy got out in 2000...
5pence: (February 01, 2010 11:14am)
http://www.youtube.com/watch?v=lDUpXwoj5Ck ..hilarious, Have a laugh thanks to Mark. I have some work to do but I'm with outting Cuomo 100%
apprzrgil: (February 01, 2010 11:13am)
I went to Rick Fazio's web site last week after you mentioned what Coma... oops, sorry Cuomo was doing. I used to live in NY and voted against his dad. I appraise in our nation's capital and suburbs, but if I could help get him out of politics I would gladly contribute again.
5pence: (February 01, 2010 11:07am)
They knew there would be times we need to defend ourselves against our government and it's policies in peaceful protest or a tea party lol. I felt I needed to clarify that.
5pence: (February 01, 2010 11:03am)
Toby, the GSE's are private corporations with a public policy mandate. No one likes that hybrid entity, something new will come out of this. I'm all for public protest, in NY at Cuomo's election headquarters, at the AMC (where ever the heck they are) banks. Your union worked because there's a line drawn that can't be crossed. A union wouldn't really work as there is no line drawn for an appraiser that we can block. The Appraisers Guild of America has the right idea imo. Realtors are a Guild of self-employed people and it works. Public protest works better than anything. The Founding Fathers knew this and that's why it's incorporated into the Constitution. They knew there would be times we need to defend ourselves against our government.
5pence: (February 01, 2010 10:56am)
We've got 23% of the maybe's and 48 % YES on the video poll. It was 51% YES, the numbers are going down slightly, maybe I should stop my rant lol. 71% is good
So Cal Appraiser-Steve: (February 01, 2010 10:50am)
It is time to UNIONIZE the appraisal profession. We need to picket in front of banks so their customers know the problem, we need to not do appraisals for a week & slow the industry, we need to say NO to AMC's who offer low fees and unnecessay turnaround times. Loans take 60 days, the the appaisal in not needed in 48 hours, so the AMC can sit on it for a week. The consumer needs to be more informed, picketing and a general appraiser strike should make the news. Splinter appraisal groups need to get together. As an independant trucker earlier in life, we banded together, did a work stoppage, got evening news publicity and changes followed for the positive. We have families who are suffering because of HVCC, we cant pay our bills, or our taxes, so how is this a better way as tens of thousands of appraisers & mortgage loan consultants go into bankruptcy, foreclosure and become welfare cases, we only want to work in the profession we love, service, yet is being taken away form us. GOD HELP
Toby: (February 01, 2010 10:47am)
The irony here is that he would have no influence or power over public companies if he were to become governor. The NYAG only has that power because nearly all the big companies (ex: FNMA) are traded on the NYSE and he has jurisdiction over securities. This goes back to the problem of America's antiquated insurance and securities laws that are legislated at the state level whereas they should be under federal jurisdiction.
5pence: (February 01, 2010 10:46am)
We take back America 1 politician at a time. If everyone in Washington, including the President, is shaking in their boots that a Republican won Kennedys Democratic seat in the Senate, imagine what would happen if we screwed up what appeared to be a sure thing in Cuomo getting elected. That would be a shout loud and clear that no one could ignore - that we need to be listened to. It's like they call everyone but appraisers and brokers to testify in Congress. They don't want to hear what we have to say. They want to keep dreaming that everything is ok - wake up!
Toby: (February 01, 2010 10:42am)
The "real esstate sector" are developers and NOT Realtors or Mortgage Originators.
Toby: (February 01, 2010 10:42am)
The "real esstate sector" are developers and NOT Realtors or Mortgage Originators.
5pence: (February 01, 2010 10:38am)
ray, he's a lawyer he should be a stickler about the law & defend it to the utmost of his abilities!! Although the HVCC was issued in part by an administrative agency of the federal government, it did not go through the Administrative Procedures Act (APA) or the Regulatory Flexibility Act (RFA) as required of rules issued by administrative agencies of the federal government. It's illegal & should be pre-empted & put through due process to make it legal if he wants it legal! Chances are it wouldn't make it. How can a lawyer be part of so many questionable border-line legal schemes, like the way he collects his contributions for his campaign. He's not a lawyer with honor or respect for his profession it seems, like I said, it's like he studied law to find ways around it for his cronys. There's no way he should be dictating public policy for self-serving private interests to people and businesses all across the country. He's a scary fk imo. Imagine if he were President? Eeek
Anonymous: (February 01, 2010 10:32am)
Now is the time for Cuomo to revise the HVCC or we support Rick Lazio. Give him one chance to change the HVCC or we send Millions to Rick Lazio
Frank: (February 01, 2010 10:30am)
It would be worse if he's Governor... then he's got a bigger influence in Washington.
Houston LO: (February 01, 2010 10:28am)
I'm not a Cuomo fan but wouldn't it make sense to help him get elected to the Governor's seat if we want him out of his current position. Hopefully get someone that is more responsive to our industry in his place... Just a thought.
CornerstoneKathy: (February 01, 2010 10:22am)
Mark ..That is HILARIOUS!!!! I needed that laugh!
ray: (February 01, 2010 10:21am)
Now is the time to force Attorney General Cuomo to revise the HVCC or support Rick Lazio
Deedie: (February 01, 2010 10:20am)
kc, appraisalbuzz.com. I suggest every one take part. It came over in an email from info@appraisalbuzz.com <info@appraisalbuzz.com>
giater: (February 01, 2010 10:19am)
Yes. I would absolutely donate $100 to get someone in office that really understands what's going on on Main St. and what we mortgage brokers are going through. Cuomo and his department are hurting American citizens.
5pence: (February 01, 2010 10:18am)
kc- here you go. I took it about 1.5 weeks ago .... http://www.surveymonkey.com/s/8ZV9T63
kc: (February 01, 2010 10:15am)
deedie- where do you go to take it
Deedie: (February 01, 2010 10:13am)
Did anyone take the Appraisal Buzz Survey today?
5pence: (February 01, 2010 10:04am)
I think we're all pretty much in agreement that this has to be done "rout Cuomo". There are many benefits to doing this, all of the things that have been mentioned and some that haven't that we'll learn. It's worth $100 to me to put this tyrant in his place and educate the public how they're being taken by private interests dictating public policy. I'm sure his opponent will welcome our ideals with open arms if the funds are there. Cuomo's made this a national thing, it needs a national response.
real appraiser: (February 01, 2010 10:00am)
A pledge site like 5spence said would draw attention from the media like the 100,000+ signatures did. the larger it grows the more fear it puts in CUOMA, it may even cause him to remove HVCC prior to the election if the amount is high enough and the media bites hard. Imagine a 20 miilion dolar pledge from out side NY from real estate professionals. Think about the on going media attention as the amount grows. Brilliant, Brilliant
kc: (February 01, 2010 9:59am)
brian - are you still going to do the show on hvcc on 2-5 to get more feed back
real appraiser: (February 01, 2010 9:55am)
I think we could make enough news collecting for the competition for GOV OF NEW YORK. Why dont you guys call him and ask about his policy, get the record up front. If he sees HVCC as a bad idea, The news would bite hard if TWBS raised a serious enough amount to make a dent. Can you imagine the press. I AM IN FOR $100 if you can talk to this guy and raise enough to get the presses attention. THINK ABOUT IT. What other way could we get this much MEDIA. The press will bite if donations around the USA come in to quash a state VOTE and it will send a serious message to the BARNEY FRANKS of the world. EVEN IF TWBS CANNOT COLLECT (THE MONEY) HOW ABOUT A PLEDGE. This is a way to strike back at HVCC and CUOMO all at once,
JBT: (February 01, 2010 9:54am)
Have any of you heard about Addvent Funding and the "principle reduction" program they have available. They are soliciting for loan officers and are promoting this as the "next hot ticket" for originators. any insight?
5pence: (February 01, 2010 9:50am)
Mark - holy crap, that's hilarious! lol!. True too. Thanks for the laugh. That's one to watch again lol http://www.youtube.com/watch?v=lDUpXwoj5Ck
joecolorado: (February 01, 2010 9:45am)
Appraise my tent-dont be daft, deer dont use gas, They may HAVE gas, but they dont use gas. DUH.
joecolorado: (February 01, 2010 9:43am)
Bobby-complain to your State rep.complain to your State licensing authority.Complain to the lender.Complain to the State AG.complain to the borrower,complain to the broker if you can find out from the borrower who it is, complain to teh Realtor.Then complain again.I would also explain to the borrower that as I had not been paid, I would be seeking to address the issue with small claims against the property.Then complain to all of the above again.
mtggirl: (February 01, 2010 9:42am)
i keep trying to get frank and brian to organize a march on dc. LETS DO IT
appraise my tent: (February 01, 2010 9:42am)
joecolorado, I had a review ask why the comparable wasnt adjusted negatively because it was further away from the gas station. I checked - 2 miles further in middle of nowhere deer hunting land.
Mark: (February 01, 2010 9:41am)
Ameriworks - you are correct. That is why we need a class action suit NOW
Mark: (February 01, 2010 9:38am)
Here is one for the books -- http://www.youtube.com/watch?v=lDUpXwoj5Ck
kc: (February 01, 2010 9:37am)
brian - are you still going to do the show on hvcc on 2-5 to get more feed back
bobby hinson: (February 01, 2010 9:36am)
9:35 bobby hinson: just wanted to say i cannot donate money to anyone, why you ask, well because all the work i have done AMC's have not paid me, why you say because they don't have to pay for work for aleast 60 days, then they go out business before they have too pay there bills.... so i have no money to donate to anyone. when is someone going to address this issue of keeping money they get up front and holding on to it for 60+ days then going out of business so they don't have to pay there bills???
5pence: (February 01, 2010 9:33am)
Thing I want to know is, why isn’t there a movement? Why aren’t we marching in the streets? I hope you all realize that votes, while democratic, don’t evoke change like protests. I hate this Kleptocracy but no seems to be able to get off their fat arses to state their position publicly- in protest if necessary. You don’t get anywhere without some personal sacrifice. Remember civil rights? Unions? The end of the war in Vietnam? Womens rights? None of those would have happened without very public protests. They certainly wouldn’t have happened with just votes alone.
5pence: (February 01, 2010 9:31am)
Frank and Brian - we should have a sign up for pledge donations to rout Cuomo the younger. Are you working on it? If there's anything I can do to help, let me know
Bicklehoff: (February 01, 2010 9:30am)
Now that corporations have free reign to contribute to campaigns and causes, you think any of us will be able to compete with the big banks? I appreciate grass roots campaigns and political involvment, but we all need to wake up a little. This is not about one party or another, or even one politician over another. Our political system has been hijacked. We can vote them all out, but who will replace them? Hired hands of big banks and oil companies. We need changes to our current system of government.
TimP: (February 01, 2010 9:15am)
FYI, to do a HomePath loan, you have to sell directly to Fannie AND service the loan. I don't think i'll be sending this out to my realtors...
joecolorado: (February 01, 2010 9:08am)
No as much as I wanted to, I just explained the difference between a positive market statistic in the 2nd quarter as opposed to a declining market statistic in the 3rd quarter with data from the 4th quarter not being available. I went the other route prior to today and funnily enough some review appraisers dont understand sarcasm being the lowest form of wit, but generally the most effective. So I dont tempt providence in that respect anymore, just explain enough to make them look stupid, but ensure that it becomes part of the report in case its audited. With me, once it goes into the report it stays.
5pence: (February 01, 2010 9:06am)
ameriworks - I'd say you're right, it's not paranoia if they really are after you. Mortgage NY LOL!!
Mortgage NY: (February 01, 2010 8:57am)
Maybe instead of donating to the anti cuomo, we should all chip in $100, meet in Vegas, take half the money and bet either Red or Black at the roulette wheel, then use the rest so we can party like it's 1999...that way someone can show Frank and Brian how to dance...LOL
5pence: (February 01, 2010 8:54am)
So joe, adjust it for time for the one day it was over the 90 day limit - .50? heheheeh. They truly are total idiots empowered by banksters to tell professionals how to do their jobs.
5pence: (February 01, 2010 8:49am)
GODLIKE - that's what I'm saying, it's a ruse for appearances sake only. They're not gone when they leave $4 trillion (bailout forever) at the treasury to continue the scam. It'll be played up as fact that they're gone and people will ignore that the treasury has been funded to take over. All will be saying - look how good Bubble Ben's plan is working!!! They've stopped buying from the GSE's!! Smoke and mirrors and total propagandist buulchit. Do they really think they can fool the world into buying MBS's and CDO's again? hahahaaaa. The world might be a better place without these "exotic" instruments. Certainly less inflationary
joecolorado: (February 01, 2010 8:49am)
just got a condition back from an AMC by a licensed review appraiser,requesting further discussion on why a comp wasn't adjusted downwards for the time outside the 3 month limit for the sale set by the client....The comp I used closed 91 days previous to the appraisal date!Anybody beat that?
joecolorado: (February 01, 2010 8:45am)
If you think the residential Real Estate industry has been hard hit, you had better take cover when the commercial figures come out.
5pence: (February 01, 2010 8:42am)
Mortgage broker - good post and I agree!! We differ on the form of corrupt government going on somewhat, I say Kleptocracy and you say oligopoly, but I agree 100% with you. America is letting the crooks run the show as they're "too important" for global finances. That is not a good enough excuse to allow corruption at all levels. What does this teach our children - that crime pays? If you're big enough and screw up you'll get bailed out and not have to face any consequences? Sounds like fertile ground for the growth of mobster rule to me, like in Russia. Get big enough the rules don't apply. 3rd world nation here we come
Jen: (February 01, 2010 8:38am)
Cloester Appraisal seems to be walking a VERY fine line. If we can not even give a hint of a referral to one of our LONG trusted and COMPETENT appraisers whom we worked with for 30+ years, why should they be able to "offer a warm introduction" with a financial firm like Jaymes Financial who is a "banking client that was GETTING into warehouse lending"? I think Cuomo's office should be looking in to this matter. Have you brought it to his attention?
GODLIKE: (February 01, 2010 8:37am)
5PENCE I'd like to believe that they'll keep buying the MBS, but this is too great a chance to get some positive spin to help cement some votes this year when they show us how well they are working for us. If I can figure it out you know their high priced pundits can. It may have been the plan all along.
Hawaii Lady: (February 01, 2010 8:36am)
Pretty good idea - donating to Cuomo»s competitor. So you must be speaking specifically to your NY viewers of TBWS? It would be helpful if you guys would name "his competitor" and get more info out that way. Maybe ask that person on to your show, for starters.
ameriworks: (February 01, 2010 8:35am)
What's up with the SAFE Act requiring that LOs must pass a credit report litmus test to remain LOs? Besides having to take national & state tests, if LOs have outstanding judgments, except because of medical expenses, foreclosures in the past 3 years, or a pattern of seriouly delinquent accounts in the past 3 years, the "Commissioner" very well may not issue a license and their mortgage loan careers are over. After having gotten beaten up by the banks for umpteen years, many of us are currently suffering credit issues that could preclude the possibility of us being able to continue as LOs because of our credit histories. WOW!!! Oh, I almost forgot, LOs working in commercial banks are exempt from taking the SAFE Act tests, and I assume are probably also exempt from needing good credit histories. Is it just me, or do others believe that the U. S. government is complicit with the banking industry in an insidious effort to eliminate independent mortgage brokers and their LOs?
Mortgage Broker: (February 01, 2010 8:34am)
I will contribute $100. I will also donate to other campaigns throughout the US where we need to oust the haters of our industry. When the money is handed over we need to make our voices heard about our needs: -Elimination of HVCC. -Break up the oligopoly that the big banks currently enjoy. -The view that using banking lobbyists for the bank's gain is a Section 8 violation of RESPA.
5pence: (February 01, 2010 8:31am)
GODLIKE - they're not getting out of the MBS market, they left $4 trillion of our dollars at the treasury doorstep on Christmas Eve (like some freaking Santa Claus with our money) to keep buying from the GSE's in perpetuity. They did it on Christmas Eve because they knew no one was in Washington to complain. Rates won't rise as long as unemployment is high - higher rates would kill the job market. **Cuomo overstepped his bounds in implementing the HVCC nationwide. Now nationwide he has a problem
joecolorado: (February 01, 2010 8:29am)
Charlie, Appraisers are not bearing the cost of the AMC's the borrower is paying exorbitant fee which are labeled as "appraisal" fees well in excess of the actual appraisal fees due prior to AMC's being created.We appraisers are just getting a good old fashioned shafting.AMC's pay us what THEY consider to be a typical fee,all they are doing is maximizing THEIR profit.Appraisers can negotiate their fees with AMC's by just saying NO to cheap a** offers of work and recognizing what THEY are worth as appraisers.I do.BUT its a free enterprise system working at its finest.Just say NO to fees which are less than your worth, its easy.
Melinda: (February 01, 2010 8:27am)
Can someone post something on his competitor? Maybe Frank & Brian should go meet with him...could make a nice press opp, too. I'm all for the Frank & Brian lobby...I'm in CA but you'd have my $100.
GODLIKE: (February 01, 2010 8:26am)
It would be so cool if his past HVCC actions derailed Cuomo's bid for governership. Imagine accountability for your actions. What a novel idea.
5pence: (February 01, 2010 8:24am)
Common Sense : Lay the blame where it belongs, on the banks. Not regulators that were bought off by the banks, not rating agencies that were bought off by the banks, not the Fed that's in the banks pockets, not the politicians that are also in the banks pockets - the banks and the banks alone are the only ones that can make that work. Why? they have the money. And They're way to cosy with government. You work for the GSE's and you've got a good paying job waiting for you at Goldman Sacks or JPM when you get out. Cronyism run rampant, politics and the banks are fused with the banks running the show.
jill korenaga: (February 01, 2010 8:24am)
not cool...sounds like a gay basher. "Barney Frank: (February 01, 2010 8:12am) Where I am from, Barney Frank would be met outside his house by a few neighbors who would take a few bats to his big fat head and perhaps you could almost beat him good looking. Baffles me how someone has not beaten him with a bat at some Blue Osyter nightclub he attends with his pet gerbils."
Don't find fault, find a remedy: (February 01, 2010 8:21am)
Um...not a good sign to be in our industry and not know that this is an election year for all members of the House of Representatives. That type if ignorance is what has killed our industry. Good thing you posted anonymously "Barney" because you've committed a felony and I'm sure if we looked at your loans, we'd find more. There are a ton of idiots in Congress on BOTH SIDES of the aisle (see Bachman of MN or Fox of NC) and you realize they get reelected because they serve their districts well. If you want to change or beat the system...learn it first.
GODLIKE: (February 01, 2010 8:20am)
I have no doubt that they will get out of the MBS market. They will let rates rise and then they will step back in and start buying them again. That way they can get credit for starting the mess (by doing the "right thing" by not buying the MBS) and also get credit for solving the problem when they step back in. There's been a lot of creating a problem and then solving a problem going around. It all makes for good press.
sus socal appraiser: (February 01, 2010 8:19am)
IF we all contributed Money to the "Eliminate HVCC Campaign" - we would have some power to get our Voices Heard!!!!! Please think about what you are going to contribute your hard earned cash to....
5pence: (February 01, 2010 8:18am)
I guess HR 4173 is that dead horse you speak of? Didn't you hear? It calls for sunsetting the HVCC. I agree, I don't owe any amc or their employees a living. Try telling that to the scum that do support them. I say scum because you're killing my and your own career in your race to the bottom where skippy does $50 1004's and AVM's await as the future of this profession.
Common Sense: (February 01, 2010 8:17am)
5pence--maybe your'e right, but greed or what Hayek would term "self-interest" is what drives the free market. The possibility of failure is what holds it in check. When the government declares some businesses are "too big to fail" there is no longer a check on greed. The Banks did what they are supposed to do: make money for their shareholders. The failure here is with the government.
Barney Frank: (February 01, 2010 8:12am)
Where I am from, Barney Frank would be met outside his house by a few neighbors who would take a few bats to his big fat head and perhaps you could almost beat him good looking. Baffles me how someone has not beaten him with a bat at some Blue Osyter nightclub he attends with his pet gerbils.
5pence: (February 01, 2010 8:10am)
Sorry New Yorkers, but he's made this a national problem and he's brought this kind of animosity on himself. We have to be involved in his election.
CHARLIE: (February 01, 2010 8:09am)
We are beating a dead horse if you think we will ever get rid of the HVCC. we should be trying to get the industry to get our full fees back. WHY should we as appraisers have to shoulder the entire cost of the AMC companies. That should be an added cost to the comsumer.
Joe Parsons: (February 01, 2010 8:07am)
Cuomo is a clever guy. Not in a good way, but clever. HVCC came about because Cuomo, as AG of NY, filed his lawsuit against WaMu and its AMC, then threatened to file against Fannie and Freddie. One important part of that action would be to subpoena the *personal* records of the CEOs of those companies. They agreed to HVCC to avoid just that. A friend of mine, a Federal judge, told me that Cuomo was able to bypass the Administrative Procedures Act because both companies are in receivership, so APA doesn't apply. How did he pull this off? What many people don't know is that Andrew Cuomo was the youngest ever Secretary of HUD. He knows the territory better than most--including where the bodies are buried.
5pence: (February 01, 2010 8:06am)
I agree Joe, getting the public educated is our best hope against HVCC and donating a large sum will get attention from the press and others. I don't care if he's running against Musollini (sp) he shouldn't have his dreams at the cost of our livelihoods!! There's no way he should be rewarded for what he's done. As far as his opponent, money will garner lots of favors and sympathetic ears to our cause from those in high places. It might not get rid of the HVCC but it will make Cuomo re-think his stance on this illegal doctrine that has the nation hostage. It hurts consumers and has decimated professions and if allowed to stand it will only get worse. Particularly if he's elected Governor. Peope will say what a hero he is with the HVCC, he saved us all. Spin doctors abound. He's the figurehead of the HVCC and that head needs to be cut off and the HVCC sent back to the hell it was illegitametly spawned from.
hyper news: (February 01, 2010 8:03am)
Dude slow down brian..it is 7am when most people watch LOL. Either you went to work straight from a nightclub or you guys are playing this thing on fast forward hahahah
Look in the Mirro: (February 01, 2010 7:58am)
Not only would I be happy to donate $100 to the person running against Cuomo. When is old Barney up from re-election? Maybe we can help fund is opponent as well!!!
RobinD: (February 01, 2010 7:53am)
Yes... homepath is priced pretty well 5.75% with .750% rebate for O/O 5% down.. 3% down is so expensive!! Homepath pricing has come way down to where it actually makes sense to use it :)
joecolorado: (February 01, 2010 7:53am)
Unfortunately,I think that HVCC isnt going away either,but to blindly give funds to Cuomo's opponent isn't in my intention either.I personally dont care what Gov NY gets,but where Cuomo's influence as AG has affected ALL of the USA,the argument of non participation falls apart.I think ALL pols by virtue of their job,are malleable to the requirements of their sponsors.They'd be crazy NOT to be.BUT where a decision made by an AG affecting the entire nation,the power that has been wielded/manipulated by that AG knowingly,needs to be curtailed/monitored,by the people,and certainly not the beneficiaries of his decisions.Having a crooked Pol is not unusual for any Village,Town,County,State or country,but WE need to make known the effect of one persons actions on our industry & supporting an opponent,ANY opponent is a start.
brian tbws: (February 01, 2010 7:43am)
were not saying we're going to try to raise money for anyone at this point. all we want is for his office to engage in meaningful hvcc reform. thats all we want.
Bear in TX: (February 01, 2010 7:28am)
All Politicians are crooked. Unless you can get Frank or Brian to move to NY and run, do you honestly think the candidate you donate to will address HVCC at all? Have you seen the budget issues in NY lately? People don't want technical fixes, they want tax cuts and a faster dmv
Mortgage NY: (February 01, 2010 7:21am)
Joe, to your point, he could do what the previous governor of NY did and that was to let his cronies get the early contracts to rebuild the World Trade Center after 9/11. They're the reason there still isn't a building there yet...it's NY...Pataki's cronies are Cuomo's cronies...it's all in La Familia...we are better off raising the money and investing it in something better. I guarantee that cuomo's opponent won't do anything to repeal HVCC and do we honestly think lenders will back track, especially after FHA is going to the same model? Won't people argue this is what the VA has done for years?
ChiTown: (February 01, 2010 7:21am)
I do not agree with anything that Cuomo has done on this issue - I'm simply "looking before I leap" and want to ensure that I am not giving money to someone that is supportive of the changes that Cuomo advocates. I simply think that we should double check that Cuomo's opponant doesn't agree with him. Even though they may disagree on some issues, sometimes opponents in a campaign agree or have similar stances on issues. Does anyone see what I am asking? I have not seen anyone comment on the competitor - we don't even know the person's name. Should we not ensure we are putting our money in the right place? Trust me, when it comes to corruption and politicians with their hands out I have some knowledge on the issue.
CV Broker: (February 01, 2010 7:19am)
Last week, I wrote to Cuomo's opponent to get his stance on HVCC and SAFE. Still no answer - no comment and no response. This was our intention with the right answer so let's get that info first
5pence: (February 01, 2010 7:19am)
Common sense - I think you have it wrong. The HVCC came about because of fraud between WAMU and eappraiseit in inflating values in NY. As for the rest of your argument, if the banks hadn't thrown proper underwriting out the window because they carried no liability for the loans they wrote, none of those bad loans would have gone through. Add to that the constant barrage in the mail and everywhere of no doc loans and have your dreams!! I blame no one but the banks - they had the funds, it was up to them to decide their risk, and they ignored that responsibility in the name of greed. Their cry of "prices will never go down!" was a total lie meant to hook as many people as possible into loans they couldn't afford.
joecolorado: (February 01, 2010 7:14am)
I cannot see anyone involved at grass roots in the Real Estate industry defending anything Cuomo has done. he has single handedly devastated the appraisal profession,ruined countless lives, completely demolished the Real Estate mortgage broker system,and has manipulated the system to the financial benefit of his cronies.He ought to be ashamed of his contribution to the well being of America as he is destroyed innumerable honest professional people' careers and livlihood without a second thought. How can anyone defend him by advocating non support of his opponent(s)?If he can do that in his present position just think what he can do in a position which is more powerful.
Gilbert: (February 01, 2010 7:11am)
Has anyone here done a loan through Homepath yet? I'm leery of jumping into one of those deals...
Common Sense: (February 01, 2010 7:10am)
The reason behind HVCC was not appraisal fraud, but merely perceived appraisal fraud. some of the homeowners losing their homes claimed that they did not realize that their loans were based on a certain value and that they "knew all along" that their home was not worth that much and that they had been taken advantage of. That's why the HVCC includes the rule that the borrower must receive a copy of the appraisal no later than three days prior to closing. Also, the "victims" often claim that they did not know that their rate could change or the balance could rise on certain loan types. That is why we got all of the new GFE and TIL rules last year. I personally think that many foreclosure "victims" will say anything to deflect the blame for their poor financial decisions. As a former Realtor who handled REOS, I've heard some pretty wild stories.
BigFig: (February 01, 2010 7:09am)
I would donate $100 to Como's competetion...
joecolorado: (February 01, 2010 7:06am)
WOW.....NY so Cuomo's office didnt listen to you and you warned him what he was doing was wrong yet you are defending him knowing he was wrong! Am I missing something here?Or am I being too cynical?
Mortgage NY: (February 01, 2010 7:05am)
Brian, I agree and I've been trying to get an answer to this question.............Why did Bush allow dumbass to impose his will on Fannie and Freddie? I agree that if he wanted that system for NY, have at it. I absolutely hate that we are saddled with the system. Is Cuomo a political opportunist? Yes but he's not the first one. I am still floored that he could impose his will on the US gov't...Why didn't Peter King or any of the other microphone chases speak up about this act of economic terrorism? That's what #$@#$ irks me. Too many people chase solutions without thinking about their consequences because they think it has to be better regardless. blindly giving our hard earned $$$ without knowing the clown first is akin to HVCC
5pence: (February 01, 2010 7:04am)
An appraiser makes around $450 for an appraisal. For that kind of money there is no reason to commit fraud and possibly lose your license. If there was appraisal fraud it was for much more than the typical fee. That is an individual fraud and not industry wide. So either Cuomo's an idiot by going after appraisers or he's a very smart crook.
MichaelG: (February 01, 2010 7:04am)
With Fannie Mae 3.5% & First Time Home Buyer Credit of $8,000, how can you lose...
TimP: (February 01, 2010 7:02am)
HomePath sounds like an attractive program. but look on fannie mae at the lenders available to offer it. it's a handfull of 1-800 or .com places that realtors hate to use because financing is done through a call-center somewhere 1,500 miles away. if you really want to promote this program, open it up like the refi-plus and make it available for more originators.
5pence: (February 01, 2010 7:00am)
tens of thousands of appraiser and tens of thousands of broker and mulitply that by at least 10 for all the consumers it's screwed and is screwing over. That much at $100 each might pay off Californias debt!! lol. Cuomo's a menace and dangerous. He wants to play the knight in shining armor to adoring fans but his heart is black. Sorry if that sounds trite lol. Cuomo, I hope you're reading this. We're going to thwart your dreams if we can and I think we can.
brian tbws: (February 01, 2010 6:59am)
Hi NY. no ive never originated a loan in ny but i have in california. my experience is that appraisal fraud is and was not rampant. i also know of thousands of honest appraisers that have had their careers wiped out by the actions of your attorney general. i know that crappy amc appraisals have killed trillions in honest equity in our country and is hurting our recovery. I also know that IF appraisal fraud was rampant in the state of NY than the NY AG should deal with NY and leave the rest of the country alone. But really.... that doesnt seem to be his agenda.
Mortgage NY: (February 01, 2010 6:54am)
Don't get me wrong, when I heard what they were trying to do I called that office often and told them they were making a huge mistake. They responded that bad lenders and appraisers were conspiring to create false values so that no only could they originate bad loans, but to overly profit by charging fees to take the false equity that was created. Nobody took them seriously when they said they would try and fix the problem. What scares me though is the unknown quantity of the idiots running against Cuomo. At least I know he's a camera hog and loves to see his name in headlines. He's not using the office as a way to make money for himself... we're better off raising and spending that kind of money to educate about the process and it will be easier to fix the problem. Seriously, what assurance is there that HVCC will be a top priority of whomever beats Cuomo when the focus will then shift to 2012 presidential politics...
vdaino: (February 01, 2010 6:54am)
yes, lose the combover!!!
5pence: (February 01, 2010 6:53am)
Guys, they're politicians, we can buy their mindset, even change their political leanings to where they're sympathetic to our cause. Have we learned nothing from lobbyists? lol
Slim Pickens these days: (February 01, 2010 6:53am)
I wish there was a way that we could receive that $100 donation from every buyer, seller, or borrower who was turned down for a loan or had their transaction trashed because of the HVCC? I think that would hit a much larger audience! HMMM, I wonder what that figure would look like????
5pence: (February 01, 2010 6:51am)
Brian and Frank - we need a pledge site so we can sign up and keep track of how much influence we can buy heheheeh. Seriously, I'm broke but I scrape up $100 to ruin his chances just like he's ruined ours.
ChiTown: (February 01, 2010 6:51am)
Who is the competitor and what is that person's position on the issue? I hope we are not giving money to someone that has the same mindset of the one we are trying to defeat.
A Appraiser: (February 01, 2010 6:48am)
Just post where I send the money! You can count on $200. from me.
mikepinter: (February 01, 2010 6:48am)
Hey Mortgage NY, I've been originating in NY since 1997 and I can say that without a doubt HVCC has done NOTHING to help anyone. It s a disaster.
5pence: (February 01, 2010 6:45am)
DD - it's not a law, it's a settlement between the GSE's and Cuomo because they didn't want to open their books for him and his investigation. It's public policy of 2 public trust giants and it's illegal. BTW, when Cuomo was head of HUD he instituted a law saying that they can never open their books to anybody, so when he says to the GSE's "I need to see your books for my fraud investigation" he knows they can't show him those books (because of his law) under penalty of law, so he in effect hamstrung, blackmailed. strong-armed them into accepting the HVCC. So, Mr Mortgage NY, don't try to tell us all the good he's done. He makes a good living by skirting the law whenever he wants. A guy that becomes a lawyer, not to defend the law but to find ways around it. Is that the definition of psychopath?
Ric: (February 01, 2010 6:44am)
To go after Cuomo, we have to let people know HE HAS RAISED COSTS TO NEW HOMEOWNERS. Appraisal costs have gone up. It is an easy pitch. CUOMO TAXES HOMEOWNERS. MONEY GOES TO BIG BANKS. Right now he's positioned as a white knight, eliminating appraisal fraud and getting rid of crooked mortgage brokers (never mind it was crooked WAMU that caused the problem). It's tough to explain the nuances of HVCC killing purchases and driving down prices. It's easy to explain it drives up homeowners costs and the money goes right into the pockets of the big banks.
brianshair: (February 01, 2010 6:41am)
what's with the combover?
Double D: (February 01, 2010 6:37am)
Heck yeah I would send $100.00 if it helps get something done to change or even abolish the HVCC policy. But you know once a law is in place its harder to get it out then it was to get it in.
5pence: (February 01, 2010 6:36am)
Mortgage NY, if Cuomo really did care about fraud he'd have taken steps to make the HVCC legal. He never did - he imposed it by force and it affects the entire nation. Remember, he sits or sat on the board of AMCO - an AMC. Now, he busted WAMU and eappraiseit - why did he reward the AMC's? Cronyism? Did he really have to impose the HVCC as a solution or did he do it to illegally compensate the perps of the crime. I go with the later. Even to this day he insists the HVCC is doing great, ignoring all evidence to the contrary and not lifting one finger to try to make it legal. This guy became a lawyer so he could find ways around the law. He's done so even with $18 million in contributions. The press has stated - borderline illegal. There's something seriously wrong with someone that becomes a lawyer, not to defend it but to find ways around it.
Mortgage NY: (February 01, 2010 6:31am)
cont'd Lastly, to blindly encourage people to spend on his opponents, would be like telling someone in need of child care to trust their child with the local priest who had recently moved around a lot because his bishops wanted to find a parish where they were a "good fit" I am so sick of people preaching from afar who I should vote for without knowing about my local issues...remember, he won against some putz who's family was connected to Pataki and the money making scheme and kickback form rebuilding the WTC...
Mortgage NY: (February 01, 2010 6:27am)
I'm finding it ironic that Andrew Cuomo is getting blamed for trying to fix a problem that was caused by the Republican governor earlier in the decade. 1. Frank, Brian, have either of you originated loans in the state of NY? Have you seen how prevalent the problems of appraisal fraud were? 2. If you did, and you made a connection to the fact that it was dirty lenders like Argent/Ameriquest that were driving the bogus appraisal bus, why didn't you take the time to educate the powers that be where the real problems were? 3. There had been talk as early as 2006, from that office that they wanted to fix the problem then and you guys and the rest of our industry just sat on our asses and continued to make bad loans with obviously juiced appraisals to score $$$. 4. If you guys are going to get political and pound your chests and want to impact a race that you know nothing about, take the @#$# time to learn the issues before encouraging blind faith spending.
5pence: (February 01, 2010 6:22am)
Chi-Town If we're going to contribute upwards of $12 million to his opponent and help secure the office for him, his opponent better listen to what we want and why we're doing it. We can buy his point of view - or rent it for our needs. After all we're not NY'ers
5pence: (February 01, 2010 6:18am)
Cuomo is a glory hungry power grabber who's sole ambition and intent is to eventually be Governor of NY like his dad. I really don't care if his opponent and him are twins of different fathers, Cuomo deserves exactly what he gave appraisers and brokers, an end to their careers. Karma's a bitch and I'd like to see karma bitch slap him. He has done more harm to this country with his ILLEGAL HVCC than all the recent political measures put together. He reminds me of a young Hitler.
ChiTown: (February 01, 2010 6:11am)
This might be a silly question and I apologize in advance regarding the Gov race in NY. At the same time, before I give any money, I need to ask about the position on the issue with Cuomo's competitor? Are we certain that he doesn't have a similar position on the issue? Do we know that he will see our point of view?
5pence: (February 01, 2010 6:08am)
That Fed statement is just a bait & switch tactic/sleight of hand so it appears they're so confident they're going to leave MBS purchasing but any idiot knows they left the treasury with $4 trillion of our money to keep buying from the GSE's-basically promising them an endless money pit of taxpayer funds for continuing the banksters MBS purchases. Who do they think they're fooling? Fannie is paying closing costs as well as cutting sweet deals for investors? I'm so glad my money is helping prop up crooks-can anybody smell that? Barney was in Davos this weekend & he's pissed at the too big to fails and says we're not waiting for the banks to find global harmony on regulations, we're going to impose what they might consider harsh terms & if they think they're going to get around them, they're not. I'll reserve judgement at this time & see what he's up to. He knows we're pissed. I'd give $100 to his opponent + live protest his criminal career! He's behind the illegal HVCC - ILLEGAL!!
rockmon: (February 01, 2010 6:05am)
Great show guys! Yes everyone needs to participate in taking back our industry by this fall. Elections this fall will have a huge impact if we vote these clowns out of office. Deflate their egos and wallets!!! VOTE!!! P.S. Keep dancing! I love your show!
mrsanfran: (February 01, 2010 6:05am)
Did everybody realize mortgage brokers produced only 12% of the originations, this last month as opposed to 30% a year and a half ago. Bye bye mortgage broker. I hear BofA is looking for some low cost originators.
Confused: (February 01, 2010 5:56am)
Wait a second Brain and Frank. Fannie Mae's Homepath program doesn;t require an appraisal for the program. Sooo no wonder they will offer 3.5% contributions. Let's see if we can put some more folks under water with higher rates (no MI) and over priced home?
Walt: (February 01, 2010 5:42am)
ok, I must have missed something way back when so please pardon my ignorance, but why is one state's AG in the position of dictating appraisal policy for the entire nation anyway?
NJ Wholesaler: (February 01, 2010 5:40am)
GRIP - get Rid of Incumbant Politicians. That needs to be your political allegiance - not Dems or Republicans. That is the only way to flush the system of career pols and get more regular people who have to deal with regular issues every day into office.
ej: (February 01, 2010 3:49am)
Feds leaving MBS? Makes sense if you believe government is now only concerned with taxing the actual income producers of this country. I DO! They seem to be self serving, money grubbing, political hacks! Let's vote a whle new group in every chance we get.
rocksteadyredhead: (February 01, 2010 3:46am)
Um, are you guys doing the show sans coffee this morning? Where is your usual energy??? Good content, as usual, but bring back the energy!
Video Poll
Would you send money to one of Cuomo's competitors for the Governor's seat?
A. Yes! Just tell me which one.
B. No! I don't like either of his competitors either.
C. Maybe, once I determine which one I like.
D. I doubt it, no matter how much $$ is raised, NY will vote him in anyway.