Art's Mortgage Solutions Blog

Mortgage and Lending - Mortgage Solutions Financial
This is the place to learn about mortgage finance and how it is impacted by the political, social, and economic climate of the country.
After the most painful year of my 24 year mortgage banking career, I can now report that I am officially an employee of the Federal Government. As everyone knows, last Friday the Office of Thrif Supervision put Indymac Bank into receivership and tranfered most of the assets to a new company, Indy...
This weekend I took a roadtrip from Portland to Northern Idaho as a chaparone a choral competition for my daughters school.  As I drove for hour upon hour through the Columbia Gorge and Palouse hills of Washington, it occurred to me that there were probabally millions of acres of land that had ve...
I just got a call from a Loan Officer in another state asking for help.  He was looking for the answer to the age old question; How do I become a top producing Mortgage Loan Originator.  I don't think he liked the answer I gave because it wasn't a recipe but a philosophy.  Here are the five steps...
This is the question circling the mortgage lending community lately.  No question they are in serious trouble.  With the secondary market for mortgage loans in total dysfunction, Countrywide finds itself in a dilemma.  If they stop making loans, they could slow the rate of loss from defaults but ...
A good friend of mine moved to Iowa about 9 months ago.  He still owns a mortgage company in Oregon so we speak often.  But for some reason which is still a mystery to me, he picked up his family and moved from the great pacific northwest to a small town in Iowa.  Joe and I are polar opposites of...
I have a simple technique that will help anyone attract those things they desire and avoid attraction of those they don't.  Simply write down 10 things you are grateful for and 10 things you want to attract each day.  Let the "Law of Attraction" do the rest.  Sounds simple and it is but the posit...
The following are ten keys that we in the indymac managment team are going to do to survive the market of 2008: Preserve CapitalMaintain maximum liquidityIf not profitable cut expenses down to where you break evenbe prepared to fire friendsCredit quality matters more than everStop paying outrageo...
Almost daily I get updates from our corporate office modifying programs, reducing documentation options, lowering LTV's or DTI's, raising FICO scores or eliminating programs all together.  The pool of available qualified borrowers has shrunk dramatically this year.  It is a real chicken or egg qu...
The actual speech is long, but worth the it not only addresses the current mortgage and financial market crisis ,but provides a good summary of the history of USA mortgage finance.  Here is a summary:Bernanke clearly and unambiguously acknowledges that there has been a financial panic ...
April 10, 2007I am asked almost daily the future of Real Estate values in our ares.  I often shine up the crystal ball to help find the answer.  Seldom is it there!I do know this much...the two closest major metropolitan markets to ours, Seattle and San Francisco, are significantly more expensive...

Art Marine

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