Jeff Corbett's (thexbroker) Blog
An Insiders Guide to Whats in My Head...
ARCHIVED BLOG POSTS
2006
15
Comments
The chart shows the exact same loan for the same borrower "priced" two different ways: The broker/banker's way, and Transparently, with a pre-negotiated fixed cost for services utilizing wholesale, par rate pricing. DiTech™ was arbitrarily chosen for this comparison, but it could have been any ...
10/31/2006
0
Comments
Pre-Payment Penalties (PPP) are often used as a tool by mortgage broker/bankers to increase the amount of YSP a Lender will allow them to charge. The theory behind this is that Lenders don’t mind paying larger amounts of YSP if they can guarantee a recoup of some of the cost via a PPP, should...
10/28/2006
14
Comments
Mash-Up has to be the Web 2.0 “Word of the Year.” For those of you not in the know, a mash-up is the combination of two existing webservices to create something new, wherein the whole is greater than the sum of its parts. Here are some of my favorites… Neighboroo They have injected a mapping...
10/28/2006
14
Comments
WARNING: What you are about to read are 100% factual accounts of grievous broker misconduct. The rules regarding YSP and disclosure are clear, yet some broker/bankers continue to operate as if they’re above the law. If you’ve never seen this 2-page brief on YSP & Consumer Disclosure from the C...
10/27/2006
16
Comments
There has been quite a bit of material written about the sinister mortgage programs called Option ARM's, or fixed payment mortgages. Dangerous, Predatory, Deceptive, ______ fill in the blank with your "watch out!" comment of choice. The general consensus on how these programs hurt borrowers is ge...
10/26/2006
Couldn’t refuse the title. “DOJ Intent Leaks Ahead Of Meeting With NAR, DOJ Denies Leak” from The Realty Times reports. Things are not looking good when the Government is threatening your organization with an anti-trust suit. I don’t care if you’re innocent or guilty—you better have deep pockets...
10/25/2006
48
Comments
Some things would be different, that’s for sure: There would be no prices on the menu.The exact same coffee drink sold out of the same location on the same day would be sold at different prices to different people.Employees would be trained and encouraged to maximize the gross profit on every cu...
10/24/2006
0
Comments
Dan Green over at The Mortgage Reports hits on an interesting topic and trend, the speculation of mortgage rate futures. Interest rates have evolved to sprout ‘commodity’ features with the advent of the $6.1 Trillion dollar value Mortgage Backed Securities (MBS) market. The MBS has created liquid...
10/13/2006
As a staunch of time saving technologies over labor intensive practices, I can recommend some nice solutions that have worked tremendously for myself and others. Ill start with the Digital Rolodex and will get progressively, more progressive. Tech tools and resources, many of which are by-p...
10/13/2006
27
Comments
There is an army of foot soldiers on the other side of these nice web façades banking on your ignorance. DiTech, Lending Tree, e-Loan, Quicken, and a slew of other 'e-Lenders' have created convienient web-sites to exploit and facilitate the deceptive nature and huge revenue streams of the mortga...
10/12/2006
Real Estate Resources
Recent Posts
Check out my Raindex Blog:
