Steve's Blog

Seems like mortgage brokers/originators have been literally thrown under the bus. The requirements we now have to meet to hold a license is unbelievable. Fingerprinting, Criminal background check, credit report pulled ( must have good credit), prove your of high moral character, 20 hours of conti...

I have recently read a couple of articles that really got my attention. Did you know that 90% of children were born to married couples in 1970 and in 2008 that figure had dropped to 60%. The amount of people 20- 54 married in 1970 was 78.6% had dropped to 57.2% in 2008. In the African-American co...

Last Wednesday June 17, 2009 we were given a view into the crystal ball of the future by Obama. Obama is proposing lenders/originators retain 5% of the risk when making a loan. He is saying non regulated mortgage lenders ie: mortgage lenders must be on the same playing field as banks. Banks are i...

It has been 20 months since I posted my last blog here on Active Rain. I have been reading my past blogs. It seems I was way to optomistic in the future of the mortgage business. I guess I could talk about the devistation of the mortgage business, buy I really don't. I like to think back. I like ...

Well today is another day and the business section of the Tennessean is all about sales of home being down and how much builders are knocking off the sales price of a new home to generate business. Right next to the article is how High Point NC Furniture Stores had their biggest convention of the...

  Lots of Real Estate For Sale right now. Why. We'll seems it is a meltdown in the sub prime market or the consumer is not happy with their arms adjusting and higher monthly payments or the market values ran up to fast because of cheap money and builders overbuilding. I guess all those reasons co...

Is it me or does the mortgage biz feel like Hurricane Katerina sitting just offshore of New Orleans and beating us to death and won't move. The feeling I get is it will intensify and when even the strongest of all Lenders ( Countrywide ) sucums to the relentless beating and falls, then the hurric...

What will kill the sub prime market is the question. I have seen underwriting tighten up since November and that has made some impact but I don't think it will kill the sub prime market for good. Waht I am finding will kill that market is Rates. The rates on sub prime loans have gone through the ...

Do I look stupid to you! As a Realtor that is what your client should say to a builder that want to kick in $10,000 if you use his mortgage company on the sale of his new house.The next question should be, then is this $10,000 made up in the mortgage, by charging a higher interest rate or fees to...

I read a lot. I am obsessed with the latest news. What I am looking for is facts. Lately I have have read some interesting statistics. Last Friday I read where their was 4,000,000 million women in the workforce has now dropped to 3,000,000. On the same day I read the divorce rate was at a all tim...