I've been taking lender GFEs and testing them to new RESPA standards for about two months. So far, I have only found TWO that would have been outside of the 10% tolerance.
THAT'S FANTASTIC!
What this tells me is that a loan officer who gives a reasonable effort in the numbers is usually safe.
What this also tells me is that loan officers must take their skills to a higher level and be aware
Jumat, 18 Desember 2009
Kamis, 17 Desember 2009
Jumat, 04 Desember 2009
ha-ha
I wondered how long it would take before the marketing - JV stuff started back up again. YOI Here's a blurb from a solicitation:
"Marketing agreements certainly have their place in the real estate industry. They are one way to test whether or not you want to enter into a deeper business relationship with another company. They are also a way to generate leads to possible customers. However, it
"Marketing agreements certainly have their place in the real estate industry. They are one way to test whether or not you want to enter into a deeper business relationship with another company. They are also a way to generate leads to possible customers. However, it
Kamis, 03 Desember 2009
well, playing with RESPA
We've been running comparisons of GFEs done the old way and our prelim HUD as we do title. We're just playing to see if loan officers are adjusting as they get closer and how close are people anyway?
Most are within 10%. Some aren't.
Shouldn't be too darn hard to make the adjustment though. I'm relieved.
Most are within 10%. Some aren't.
Shouldn't be too darn hard to make the adjustment though. I'm relieved.
Sabtu, 28 November 2009
what about lien letters?
I posed the question to an attorney following his presentation on RESPA and here's what he says:
"As to your question, it seems like the lien letters would be something like the title search. It seems like it would be a necessary component to rendering title and settlement services. If that is true, then the amount of your reimbursement should be included in the lump sum included on line 1101
"As to your question, it seems like the lien letters would be something like the title search. It seems like it would be a necessary component to rendering title and settlement services. If that is true, then the amount of your reimbursement should be included in the lump sum included on line 1101
Selasa, 24 November 2009
Good morning, title world.
Just wanted to take a moment to give thanks. We're still living, eh? Even if you aren't in the business, you're still living and that means everything. Breathe in and breathe out.
For those of us in the biz, get ready to rock and roll on RESPA. We're gearing up and working to get our arms around all the issues.
I'm glad to have taken a mental break from the RESPA discussion. I'm thankful
For those of us in the biz, get ready to rock and roll on RESPA. We're gearing up and working to get our arms around all the issues.
I'm glad to have taken a mental break from the RESPA discussion. I'm thankful
Jumat, 20 November 2009
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