What is title insurance? Why do I need it? What exactly am I paying for? Title insurance can be a confusing piece of a real estate transaction for many. To cut through some of the confusion here is title insurance in a nutshell: Read the rest of this entry
Death by Detail
We all have met with the insurance salesman and died a slow death as our eyes glazed over and our head wanted to hit the table. Or wished for the worst torture we could imagine just to get out of the meeting.
Well prepare yourself for the latest and greatest torture technique to be developed since the dark ages, this one is worthy of the al Qaeda operatives and the like, better than water boarding. It’s what I call Death by Detail now offered by your local Loan Officer. This one sneaks up on you, seeming innocent in the beginning but slowly begins to pull you in little by little. Beware, it’s like the wood chipper ready to grab your sleeve and drag you in to its jaws. Read the rest of this entry
As I read over the internet each day to see what is new and trending, I came across this great article. I started thinking, many consumer’s (buyer’s) don’t know the difference or requirements for Licensed Loan Officers and Bank Originator:
Why would a consumer work with a non-licensed Mortgage Originator?
Following the release of the QM and Ability to Repay rules from CFPB, I decided to try to read through the proposed Loan Originator Compensation rules. I found this pretty interesting. Instead of making additional regulations for Mortgage Originators who work at banks or credit unions, why not just make them subject to the SAFE Act and require them be licensed? Read the rest of this entry