All Posts Tagged With: "agency"
FBI Expanding Fight Against Mortgage Scams
The FBI is adding a large number of agents to fight mortgage fraud and predatory lending, but will it be enough?
Speaking before the Senate Judiciary Committee last year, FBI Assistant Director Kevin L. Perkins noted that the FBI now has new funding to chase mortgage fraudsters under the Financial Intelligence Center (FIC).
The FIC, says [...]
Real Estate Brokers Versus Salespeople — What’s The Difference?
A “broker” can be seen as someone licensed by the state and who works for another and for a fee. In effect, a broker is an “agent” who works for a “principal,” say a buyer or seller. As an agent, a real estate broker must uphold certain duties and obligations or his or her license [...]
21Nov2009 | Peter G. Miller | 0 comments | Continued
Appraisal Worries Really About The Future
Tim writes and points to a number of problems he sees with the Home Valuation Code of Conduct (HVCC). Fair enough. Let’s look at what he offers:
>>>Instead of a majority of valuation assignments going to appraisal managment companies we now have virtually ALL assignments being controlled by these joint venture arrangments. Notice how the market [...]
Should Borrowers Be Represented In Washington?
There are so many lobbyists in Washington that you can hardly find a parking space. It’s great to have competing interests, but one interest with no real or effective representation are those who borrow.
We have lobbyists for real estate brokers, mortgage bankers, mortgage brokers and banks, but name the organization that represents you? Where are [...]
Minority Mortgage Housing Goals — What’s The Truth?
I was at a dinner event in Washington recently and the speaker told the assembled rich and powerful that President Clinton had weakened the lending system by increasing minority financing goals to more than 50 percent. The implication was that a big part of the current mortgage meltdown is a by-product of federal efforts expand [...]
15Jun2009 | Peter G. Miller | 0 comments | Continued
Can This Be? Home Prices Are up?
I wouldn’t take this as the last word, but the Federal Housing Finance Agency (FHFA) is reporting that home values nationwide rose in .7 percent from January to February.
“U.S. home prices rose 0.7 percent on a seasonally-adjusted basis from January to February, according to the Federal Housing Finance Agency’s monthly House Price Index. January’s [...]
Who Should Loan Officers Represent?
For all the talk of foreclosures and failing lenders, the bottom line is this: The mortgage lending system is both sound and hugely successful. Despite the headlines, most borrowers are making payments. Even among subprime borrowers — the borrowers most in the news — 81 percent are making their monthly loan payments as of mid-2008.
“The [...]
Curious “Check” Hides Important Mortgage Questions
Near where I write these words sits a check for almost $50,000. Well, it sure looks like a check when seen through an envelope window, and the envelope in which it came certainly has a lot of important-sounding language on the outside. In fact, if not careful you might mistake the envelope for those used [...]
1Sep2008 | Peter G. Miller | 0 comments | Continued
Must Mortgages Be “Suitable” For Borrowers?
How come we have so many toxic loans?
“The system is out of balance,” says Sen. Chris Dodd (D-CT), “There is a chain of responsibility that makes these abusive loans possible.”
The way Washington works is that you have to read between the lines. Notice that Dodd’s core concern is not “predatory” loans or even “subprime” [...]
Must Buyer Brokers Be “Exclusive”?
For several years there has been a debate within real estate regarding who or what may use the term “EBA” or “exclusive buyer agency.” At first this may seem like an obscure dispute, as in “who cares?” But in fact, the matter has importance for buyers, sellers, and the brokers who work with them.
On [...]
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