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Worst Hidden Homeowner Tax Ever

May 13, 2014 Bailouts, FHFA, GSE's 18 Comments

Today we’re just appalled at what’s amounted to the worst homeowner tax ever.  Complete government irresponsibility.

Today’s show really is important so please tune in.  But before we get started, let’s get some house keeping items out of the way.  First of all, Khai McBrides webinar is tomorrow.  He’s hands down the most organized and systematic loan originator we’ve ever met.  He’s going to show you how to get stuff done in today’s market.  The webinar is free so be sure to make it.  CLICK HERE to register.  Also, our sign riders in Listing Booster are generating a ton of purchase leads for our members.  It’s so easy to do and so fruitful.  Imagine having 40 or 50 sign riders on listings in your area and every time someone texts the number on the sign (which the do a LOT) you get the lead.  Sound good?  We have 3 webinars this week – the banners are on the right – get in one of them.

Financial BetrayalNow on to the show.  Please understand why this is so important to the mortgage industry, the real estate industry and housing in the United States.  The government owns one of the most profitable businesses in the world with the GSE’s under the management of the FHFA.  Fannie Mae and Freddie Mac combined are one of the top three money making enterprises in the world today.  Yet, they are being grossly mismanaged.  Think about all of the regulations there are on the private banks right now with respect to making sure that they have adequate reserves in the event of another industry disaster.  Yet with the biggest lending organization in the world, not only are there no regulations to ensure they have adequate reserves, they’re NOT ALLOWED to build up reserves.

Are you hearing us?  The government is running one of the biggest companies in the world like a bunch of amateurs.  Who runs a business and takes 100% of the profits every month out of the business?  Answer – idiots.  So now there’s another G-Fee on the way.  A G-Fee is to guarantee the loan being made.  So if it goes into default there’s some money to work with.  Where do these G-Fee’s go?  Answer – The Treasury.  So if they go to the Treasury who’s guaranteeing the loans?  Answer – Apparently no one.  So what we’ve got here is a bunch of money going to the government at the expense of the homeowner.  It’s a tax.  And all this GSE crap is nothing more than a bunch of political grandstanding.  The governments handling of the GSE’s is the single most appalling betrayal to come out of the mortgage meltdown.  Again, tune in to learn more and please forward this along.  Enough is enough.

Have a great day!

Frank and Brian

Sales Compliance and Murder-Suicide

May 8, 2014 CFPB, FHFA, MBA, QM QRM 9 Comments

Today’s show is jam packed.  We’ve got some sales, some compliance and a little mortgage banker murder-suicide.  Enjoy!

So let’s get down to keeping the lights on around here.  First on the list is Geneva Financial.  Trust us, after watching today’s show you may want to give them a call.  These guys are awesome and they’re looking to make you lender career amazing.  So CLICK HERE to see what they’ve got to offer.  Also on today’s show the MBA has developed a course for QM/ATR that all loan originators, underwriters and processors should take.  At the end of the course you take a test and if you pass you get an MBA certificate.  This will be very helpful if or when you’re company gets audited by the CFPB.  They’ve got group discounts if you want to run it through your whole company.  CLICK HERE to get started.

Mortgage MurderNow on to the big show.  We’ve got a few things to chat about, all good information of course.  But what stands out today in the “you’ve got to be kidding me” category is a little story about the FHFA COO threatening to kill Ed DeMarco, the previous FHFA Director that was replaced by Mel Watt.  What the heck is in the high level mortgage banking water these days?  Or should we say the high level mortgage banker scotch?  Not sure, but something is going on.  We won’t tell you here why this fellow threatened to kill Mr. DeMarco, we’ll let you tune in for that, but we over here at the NREP aren’t buying it.  After you watch and see what’s going on, please let us know your thoughts down below!

A couple last things.  If you’re an Austin Texas real estate agent, you’re probably well aware of the fact that your listing syndication to various real estate websites has been shut down.  We’ve got a solution for you that we will show you on the 22nd of this month.  Space is limited so please RSVP by CLICKING HERE.  Finally if you know Khai McBride, you’re probably a fan, and if you don’t know him after next weeks free training webinar with him, you’ll become one.  He’s the most organized systematic loan originator we’ve ever met and he’s going to show you how to get your act together and get stuff done!  To register for his webinar CLICK HERE.


Have an awesome day.

Frank and Brian

Realtor Gets Slapped for 8% Commission

In a world where lenders commissions are micro regulated, real estate agents seem to be off the radar.  Well, they are for the most part but sometimes even they get snagged.

Housekeeping items first.  Pretty easy today.  Geneva Financial is expanding and they are looking for branch managers and loan originators.  They have a lot to offer.  They offer weekly pay, you can bank the deal or broker it – same to you, no penalty for brokering, and you can work from home or from the office just and a whole lot more.  Click HERE to see why they are an excellent lender to work for and with.

Now on to the show.  We’ve got a few stories for you today, all of which are interesting and have our typical NREP flare.  So tune in and enjoy, you’ll be glad you did.

slapped rrealtorAt any rate for a preview, real estate agents are getting slapped for commissions that are too rich.  Who’s slapping them?  No one of consequence but it doesn’t matter because they’re still having their commission regulated.  This is really interesting because it’s a situation where the industry is policing itself rather than the good old Government.  Kind of nice for a change, although the real estate agent in question probably wouldn’t agree.

So tune in and catch the news.  Be sure to leave us your comments and do us a favor and forward today’s show to anyone you feel would appreciate it. Have a great day and we’ll see you tomorrow.

Frank and Brian

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