Wednesday, April 6, 2011

Originator Compensation Delay Dissolved. New Rules in Effect

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Apr 6, 2011 10:34AM

Originator Compensation Delay Dissolved. New Rules in Effect

BAD NEWS: A decision has been made. The loan originator compensation delay has been dissolved. New compensation plans are now in effect. From the Court Order... "Upon consideration of the emergency motion for expedited relief and the emergency motion to stay implementation of final rule pending appeal, the response thereto, and the reply, it is ORDERED that the administrative stay entered on March 31, 2011, be dissolved. It is FURTHER ORDERED that the motions be denied. Appellants have not satisfied...

Apr 6, 2011 2:32PM

How Might a Government Shutdown Impact the Loan Process?

Congress needs to pass a "Continuing Resolution" by Friday, April 8th to avoid a government shutdown. From Wikipedia : A continuing resolution is a type of appropriations legislation used by the United States Congress to fund government agencies if a formal appropriations bill has not been signed into law by the end of the Congressional fiscal year. The legislation takes the form of a joint resolution, and provides funding for existing federal programs at current or reduced levels. Reuters Headlines...


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12:41 PM:

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11:23 AM:

US Republicans begin to chip away at Fannie, Freddie

11:15 AM:

IMF urges US budget include Fannie, Freddie costs

10:12 AM:

WSJ's Bullard Interview Highlights Troublesome Fed Divisions

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Today's Comments

Adam Quinones

"We heard from a few desks that there was a rush of locks last Thursday before comp was supposed to go live. I thought for sure it would show up in the..."

Fred Winograd

"David used a sling and a rock to slay the Goliath. NAMB seems to be using a pebble or a grain of sand. I do not want blame NAMB for the problem after all..."

JERRY NISIVOCCIA

"Here's a question for everyone....who is going to write a 3.5% down FHA purchase loan with a first time buyer at a sales price of $130,000 that requires..."

Today's Q&A

Anonymous

"Is real estate tax Paid "in advance" or for the past..."

Anonymous

"I have excellent credit rating/score/history but low income,..."

Anonymous

"I stopped paying my mortgage for 9 months but it has been a year..."

Today's Forum Discussions

John Thompson

"Loan Scenario View All Post A Scenario Loan State: Missouri Loan County: --- Loan Type: Refinance (Rate and Term) Loan Amount: 206291,600,000 Property Value..."

TheKid

"Does anyone have any information on their new/upcoming comp changes. Preferably information for LO's from the big banks. Educated guesses are welcome..."

Joseph Chavez

"Loan Scenario View All Post A Scenario Loan State: California Loan County: --- Loan Type: Refinance (Rate and Term) Loan Amount: $320,000 Property Value..."