![\"pipeline-press\"](\"http:\/\/mortgagenewsclips.com\/wp-content\/uploads\/2010\/01\/pipeline-press4.png\")
<\/a><\/p>\nA good wife always forgives her husband when she’s wrong.<\/p>\n Let\u2019s hope that anyone in mortgage banking doesn\u2019t think that they were wrong for going into this profession. What am I hearing from the origination trenches out there<\/strong>? Well, for the most part it mixed, but I won\u2019t sugarcoat things. I receive a fair share of e-mails saying, “Hey, Rob, I really like your newsletter, but I am leaving the business. Can you keep me on your list? Just change my e-mail from ‘BobJones@ABCMortgage.com<\/a>‘ to ‘BobJones@g-mail.com<\/a>‘. Or else, “Hey, Rob, I really like your newsletter, but I am changing companies. Can you keep me on your list? Just change my e-mail from ‘BobJones@ABCMortgage.com<\/a>‘ to ‘BobJones@CitiMortgage.com<\/a>‘.<\/p>\n One agent recently wrote to me and said, \u201cI think most brokers are just starting to wake up to the realization that things are going to be different in 2010.\u00a0 But, they\u2019ve not yet managed to figure out just how different, and how it will affect them. Bankers are in the same boat, but in addition trying to make sure that we implement it all to make sure everyone\u2019s complying and no one gets in trouble.\u201d<\/p>\n Another wrote and mentioned, \u201cBrokers are in shell shock over the new RESPA and GFE and the fear that human error is going to cost them big if they misquote a fee. And then with the DRE national registry and new NMLS&R about to pull originator’s credit over the next year, there is another level of panic on whether personal financial issues are going to result in licenses being pulled. Does the medical profession require that a doctor be of great health for the last year in order to practice medicine<\/em>?\u201d<\/p>\n Many argue that we are in the midst of \u201cirrational regulation, when it is the mission of seemingly every state and federal legislator to do something to make sure a credit crisis like this never happens again. Certainly originators, especially multi-state, anticipate an increase in cost of doing business<\/strong>, whether it is in upfront compliance or in buybacks continuing for years, that will have the unintended consequence of higher rates and fees to the consumer.<\/p>\n Confused about Yield Spread Premium? Join the crowd, but it seems that going forward brokers cannot simply receive YSP.\u00a0 It is generally agreed that brokers have to show the origination fee on the GFE, and then show that using some\/all of YSP the broker \u201coffset\u201d that origination fee in addition to any processing, underwriting, and other miscellaneous broker fees.\u00a0 If there is more YSP then total broker origination fee, a portion of the YSP goes back to the borrower and cannot simply go to the broker. Check out <\/strong>http:\/\/www.hud.gov\/offices\/hsg\/ramh\/res\/respa_hm.cfm<\/a><\/p>\n more news on Suntrust, Wells Fargo, Fannie Mae in Florida, FDIC interest rate advisory, MBS purchases, rates, and joke of the day … <<< CLICK HERE<\/a><\/strong><\/p>\n \u00a0 A good wife always forgives her husband when she’s wrong. Let\u2019s hope that anyone in mortgage banking doesn\u2019t think that they were wrong for going into this profession. What am I hearing from the origination trenches out there? Well, for the most part it mixed, but I won\u2019t sugarcoat things. I receive a fair […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-155263","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/155263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=155263"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/155263\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=155263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=155263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=155263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"rob-chrisman-daily\"](\"http:\/\/mortgagenewsclips.com\/wp-content\/uploads\/2010\/01\/rob-chrisman-daily4.jpg\")
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