The Mortgage Cicerone - FHA/VA Training and Advisory Services

NAMB/HUD Webinar Replay - RESPA/ GFE Reform ~ FHA Appraisals ~ FHA Broker Approval

2009-12-03T00:24:24-05:00

For those of you unable to attend or listen, attached is the 12/1/2009 video webinar hosted by NAMB addressing three main areas of regulation and updates that mortgage brokers must be aware of and be prepared for 2010.

The purpose of this particular NAMB / HUD webinar is to give mortgage brokers a high level overview of the general changes that they need to be aware of.

Expert Panel:

Vicki Bott – HUD Deputy Assistant Secretary of Single Family Housing
Roy DeLoach – NAMB CEO
Tony Gallegos - Mortgage U – Director of Advisory Services and Consulting
Alice Alvey – Mortgage U – President

There were a few technical difficulties due to the amount of participants (over 3000) that overloaded the lines, so there were a few spots in which we had a few delays and the sound quality was not crystal clear, but it did remain audible and readily understandable.

While an hour is obviously not nearly enough time to address anything in great detail, the objective was to stimulate conversation and questions NAMB officials can use to fully represent the mortgage broker channel with HUD and elected officials in Washington DC.

Your questions and concerns are very important to NAMB, so please feel free sharing your thoughts in the comment section at the bottom of the following hyperlink page:

NAMB Comments

In addition, NAMB will be holding additional webinars over the next two months that drill down these topics and your questions in greater detail.

Below is a video bullet outline that provides you a minute marker guide that references specific topics within the video time table.

Hint: Go directly to 9:42 minute mark to skip introductions.

Video Minute Markers:

00:00 – Introductions

09:42 – RESPA / GFE Updates

11:35 – Effective Dates

12:33 – GFE Triggers

14:38 – GFE Notice Requirements

18:02 – GFE Block 1

22:21 – GFE Block 1 Questions

23:14 – GFE Line Block 2

25:01 – Float to Lock Scenario

36:32 – GFE Page 2

40:03 – Which Charges Can Increase?

44:15 – RESPA/GFE Q&A

47:30 – Message From Credit Technologies

52:16 – FHA Appraisal Policy

59:55 - FHA Broker Approval / Mini-Eagle

Not to be forgotten, both Mark Green at Top of Mind and Mark Madsen are the unsung hero's in making organizing and committing tremendous resources in bringing these educational webinars to the originator community.

11/30/09 Weekly Radio Mortgage Market Update

2009-12-02T13:51:20-05:00

In this week’s Radio show, David Lykken, Alice Alvey, Joe Farr and Tony Gallegos provide inside up-to-the-minute information on interest rates, loan programs and "hot" industry news related to the mortgage industry specifically addressing the following topics:

MBS and Market update
Economic indicators
Foreign Investment into MBS market
Net Branch compensation
Legislative updates
Latest on loan repurchases
The latest on RESPA/GFE

How Social Media Impacts Your Organization - The Good, Bad and the Ugly

2009-11-30T00:48:07-05:00

As a mortgage banking consultant and advisory services professional, it is necessary to provide clients a total comprehensive solution that synthesizes the issues and needs of the entire organization. Therefore, I receive numerous questions related to social media and its impact upon the organization. Quite frankly, social media is a force that has exploded with the advent and maturation of the the Internet. Subsequently inquires regarding social media uses and how it relates to normal business operation has increased on a almost weekly basis.

Truth be told, while the fundamental principles of business don't change, the context of how business is conducted does. That is why it is important for mortgage banking executives to realize, they (executives) are in most cases what is referred to as "digital immigrants" and the the employees they manage are in most cases "digital natives."

After observing and dealing with Digital Natives for quite a while, I’ve become a kind of digital anthropologist, spending a great deal of time observing the rich digital world and life that the Natives are in the process of creating for themselves. It turns out that for almost every activity in their lives, the Digital Natives are inventing new, online ways of making each activity happen, based on new technologies available to them. Some of these new approaches Digital Immigrants can -and do – use as well. But some are so foreign to the Immigrants that they are almost, or totally, unintelligible.

Thus, for this reason, I recently posted an article addressing the art and science elements of social media and what it means to your organization. Please take to time to read and relate its impact to you and your company.

Bottom line: Chances are, your continued relevance as a manager and executive may in fact depend upon leveraging your understanding of the digital natives that encompass a large percentage of your organization.

Social Media Activities - Is It Worth It?

NAMB Webinar - Is Your Company Ready for RESPA/GFE

2009-11-25T19:11:00-05:00

What Originators Need to Know about RESPA,

FHA Broker Approval and Appraisal Reform

Tuesday, December 1,2009

2:00 pm EST

NAMB WEBINAR TOPICS:

RESPA/GFE Reform

Effective January 1, 2010, HUD is requiring loan originators provide borrowers with a Standard Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs and that closing agents provide borrowers with a revised HUD-1 Settlement.

Elimination of FHA cap on origination fees
RESPA/GFE – From Broker Perspective
Principles of RESPA reform
Key final terms and processes
What brokers must know
GFE Notice Requirements
Key GFE Triggers Dates
Block 1 – What goes into it
What charges can change
What charges can not
The best strategies to navigate this sea of requirements

FHA Appraisal Ordering Policy

Review of Process
Expected Impact

FHA Mini-Eagle/Broker Approval Process

Net Worth Requirements
Are audited financials still required?
Will lenders adopt uniform FHA standards?

Click HERE To Register: Dec. 1, NAMB / HUD Guidelines Webinar

Our Panel of Experts:

Vicki Bott – HUD Deputy Assistant Secretary of Single Family Housing
Roy DeLoach – NAMB CEO
Tony Gallegos - Mortgage U – Director of Advisory Services
Alice Alvey – Mortgage U – President

Super Bowl Event for Mortgage Originators - The Mortgage Revolution - January 10 through 12

2009-11-19T11:15:19-05:00

It's no great secret, the mortgage industry is experiencing severe change and consumers are looking anywhere they can seeking direction and help. For that reason, the industries TOP mortgage professionals have volunteered their time, effort and money to sponsor an event focused on revolutionizing the way the public views our profession.

A few facts about the Mortgage Revolution:

ALL net profits are being donated to charity...no one is making a buck
Cost for 3 days is only $149
All the presenters are mortgage industry leaders paying their own way and getting no fee for speaking or leading workshops
Take note loud and clear - the attending speakers ARE the industry leaders that TRULY care about the mortgage industry
Workshops and presentations will be SPAM-FREE...no one will be selling their products, services or wares. It is all real live content (DAY 1 - DAY 2 - DAY 3)
You will learn the latest regarding marketing, regulation, social media, FHA and ethical approaches to enhancing career

Our industry needs you to help revolutionize the way that the public views our profession. Come join us in Atlanta, GA from January 10th through the 12th. www.mortgagerevolution.info

11/16/09 Weekly Radio Mortgage Market Update

2009-11-16T15:50:06-05:00

In this weeks Radio show, Alice Alvey, Joe Farr and Tony Gallegos provide inside up-to-the-minute information on interest rates, loan programs and "hot" industry news related to the mortgage industry specifically addressing the following topics:

MBS and Market update
Inflationary concerns
Fed participation in secondary market
Legislative updates
Latest on RESPA and GFE...specifically addressing broker channel issues
Update on FHA broker approval (mini-eagle) process...what is expected
Credit risk...why underwriting is tightening and when "common sense" underwriting will return