S.A.F.E. Act - What You Need to Know About the National Licensing Laws (Effective August 1, 2009) — April 2009 Are you prepared to be fingerprinted and submit your FBI background check? The National Licensing Law for Loan Originators is just around the corner! It applies to loan officers who are brokers, bankers and yes, even LO’s who work for a bank or credit union!
	Tax Transcript 4506-T Warning - The Logistical Nightmare for Self-Employed Borrowers — March 2009 Are you having trouble getting tax transcripts for your self-employed clients? Some are taking 6-8 weeks! Know your investor policies on tax transcripts. No one wants to come back to a borrower after the fact with bad news or be forced into taking a huge loss on a lock expiration.
	New Transfer of Servicing Disclosure Statement, January 16, 2009. (Download Sample Disclosure) — January 2009 The new Transfer of Servicing Disclosure is soooo much easier to understand and explain. Download and print the sample disclosure.
	Is the Home Valuation Code of Conduct (HVCC) Going to be Implemented Anytime Soon? An Update! — December 2008 In all likelihood, brokers will be ordering their appraisals through Appraisal Management Companies (AMC’s). Originally, this was rolled out as a January 1, 2009 requirement and there have been no updates from either Fannie or Freddie. In fact it has gotten eerily quiet….but I doubt it’s because it’s going to go away. Read what the appraisers’ board is saying…
	Commenting on All the Mis-Information about Truth and Lending Changes — HR3221 Housing and Economic Recovery Act Section 2502 Enhanced Mortgage Loan Disclosures September 2008 Honest, there is no immediate impact, and I wasn’t going to even write about it yet. But it turns out that there are so many rumors and scare stories circulating about complicated disclosure changes, and being out of compliance – I just had to respond. There’s so much misinformation! (If you want to hear more about the “mis-information” that’s spreading, go to my new blog, www.MortgageTalkingPoints.com.) (HR3221, Housing and Economic Recovery Act; Section 2502, Enhanced Mortgage Loan Disclosures)
	Most Important Features That Affect You Now - Housing & Recovery Act of 2008. — HR3221ENR The Housing and Economic Recovery Act of 2008 August 2008 In this issue, I cover the most immediate and impactful components of the law. A word of warning: I\'m sure you are being inundated with summaries, most of which contain numerous inaccuracies (such as one that I reviewed from an unnamed, yet venerable mortgage certification source). So please be discerning of the source, and skeptical of whom you trust. (H.R.3221.ENR - The Housing & Economic Recovery Act of 2008)
	$7,500 First-time Homebuyer Income Tax Credit. Great Marketing Tool for Mortgage Loans of all Types - Mortgage Talking PointsTM Flyer/Email Included. — August 2008 "Tax Credit" my A_ _; this is a loan! And what a great loan it is! Whether it\'s the best way or not - it\'s a done deal! And it\'s an amazingly fantastic, one-of-a-kind deal for $7,500** loan. There is absolutely no interest and the homebuyer can take a full 15 years to pay it back. The tax burden is only increased by $500 per year, after skipping a year before repayment starts. (H.R.3221.ENR Sec.3011.FIRST-TIME HOMEBUYER CREDIT)
	FHA Rules Does Away with Down Payment Assistance Programs, May be Gone for Good! — Federal Register June 16 2008 Volume 73 Number 116brStandards for Mortgagors Investment in Mortgaged Property July 2008 Did you notice that 1/3 of all FHA buyers\' down payments were funded by a DAP in 2006? For the first five months of 2008, the percentage is over 37%. The question is whether or not elimination of DAPs will eliminate 37% (or so) of the FHA purchases? Ouch! If you are involved in FHA purchase transactions, this will impact your business. Make your comments (www.Regulations.gov) and pass the word. DownPayment Assistance Programs(Federal Register: June 16, 2008 (Volume 73, Number 116) Standards for Mortgagor\'s Investment in Mortgaged Property)