Blog Talk Radio Show Summary August 30, 2010: The Changing Face of Real Estate

2017-12-20T17:34:15+00:00 September 9th, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , |

This week’s guest on Lykken on Lending was John Tuccillo, noted economist and former Chief Economist for the National Association of Realtors.  John provided his opinions on the state of the economy and housing.  According to John, the chance of not having a double dip recession is greater than the chance of having one, but the difference in the likelihood has diminished over the last couple of months.  John expects economic growth to remain slow though 2011, growing at an annual rate of 1.5% to 2.5%.   Regarding housing, John looks to job creation as the driver to improve the housing market.  Without it, nothing the government or the Fed does will create sustained improvement.  This year’s home buyers tax credit was certainly helpful to stimulate activity at a time when we needed the activity, but we are seeing that it merely brought forward activity which most likely would have occurred naturally.  The housing market will come back, but will come back on a regional basis.  John said the real estate market should be viewed on a regional basis, not a national basis.  Some markets like San Francisco, which rose to unaffordable levels, will likely take a good bit longer to [...]

Blog Talk Radio Show Summary August 23, 2010: Winning Strategies for Mortgage/Real Estate Teams

2017-12-20T17:34:15+00:00 August 30th, 2010|Categories: BlogTalkRadio Podcasts, Uncategorized|Tags: , , , , , , , , , , , |

Tom Ninness, VP at Cherry Creek Mortgage, joined the show today to discuss Cherry Creek’s success in the Denver area at dominating the mortgage market.  He did not know their percentage market share, but he did know that Cherry Creek was by far the biggest mortgage lender in the area.  He explained that their success stems from a focus on the real estate agent.  They do not chase the refinance opportunity.  They focus on repeat business from Realtors and past home buyers.  The Realtor focus includes providing brown bag lunches where the Realtors can learn about the latest changes in underwriting guidelines or where they can get CPE credit.  They created websites where the Realtors can advertise their open houses.  In fact, over the National Open House weekend, Tom and his team advertised over 100 open houses in the Denver area for their Realtor contacts.  This seems simple and basic, but it works.  Try it. Click PLAY to listen to the podcast of this week’s BlogTalkRadio/Lykken on Lending with Dave Lykken and MBSQuoteline’s Joe Farr: Listen to internet radio with David Lykken on Blog Talk Radio MBSQuoteline supplies the essential market information necessary for effective decision making by Originators when assisting borrowers [...]

Blog Talk Radio Show Summary August 16, 2010: Online Mortgage Industry Resource

2017-12-20T17:34:16+00:00 August 20th, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , |

Lykken-on-Lending (LoL) has partnered with HousingMatrix, an online resource of information for the housing industry.  HousingMatrix now hosts the  LoL  library of the most recent recorded program as well as all prior programs.  HousingMatrix is a site you should explore if you have not been there before.  If the information you seek has to do with housing, you will find it at HousingMatrix. Mortgage rates have continued their move lower this week, reaching a new low this morning.  Last Tuesday’s Fed announcement helped push mortgage rates lower and then the announcement on Friday that July’s inflation remains very low helped as well.  The Fed announced that they were keeping the Fed Funds rate between .25% and 0% and that they expect to keep it at this very low level for an extended period of time.  This was as expected.  What was a bit of a surprise was that they expressed a concern that the pace of the economic recovery was slowing and they announced a new policy to add a little stimulus to the economy.  The new policy deals with what they will do with the cash the Fed receives from payments on their portfolio of Treasury and mortgage-backed securities.  [...]

BlogTalkRadio Summary July 23, 2020: Mortgage Rates Hit Another Low

2017-12-20T19:13:29+00:00 July 29th, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , |

Mortgage rates hit another new low last week. The drop lower can be partially attributed to two words used by Fed Chairman Bernanke in his semi-annual testimony to Congress on the state of the economy.  The two words he used to describe the economy were “unusually uncertain.  This led investors to shift even more of their investable funds into the safety of government guaranteed mortgage-backed securities and Treasury Notes and Bonds.  The added demand for MBS drove prices higher and rates lower.  This occurred at a time when all measures of inflation indicate that inflation is very low and should not be a real concern for a long time.  The combination of uncertain economic growth and very low inflation are the perfect environment for low mortgage rates. Click PLAY to listen to the podcast of this week’s BlogTalkRadio/Lykken on Lending with Dave Lykken and MBSQuoteline’s Joe Farr: Listen to internet radio with David Lykken on Blog Talk Radio MBSQuoteline supplies the essential market information necessary for effective decision making by Originators when assisting borrowers during the loan origination process, and for secondary marketing departments while managing pipelines. For additional information or to sign up for a free 2-week trial subscription, visit [...]

BlogTalkRadio Summary July 16, 2020: Loan Officer Compensation (Dodd-Frank Act)

2017-12-20T17:34:16+00:00 July 21st, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , , |

Loan officer compensation has received much attention during the last few months as Congress found it necessary to limit how Loan Officers earn commissions. As part of the Dodd-Frank Act loan officer commissions will be limited to a percentage of the loan amount, with the potential for a bonus based on the number of loans closed.  Commissions can no longer vary based on the terms of the loan.  The provisions of the Dodd-Frank Act will not become effective for 18 to 24 months, until various regulatory agencies have produced further guidance. Overtime for Loan Originators is also a hot topic and is an issue right now.  Early this year the Department of Labor reversed a prior ruling which allowed Loan Officers to be exempt from overtime pay.  The new ruling makes it  much more likely that Companies will need to pay Loan Originators overtime.  Outside sales people are exempt from overtime.  Inside sales people are not.  A Company must establish policies to support whether their LOs are inside or outside sales people and must maintain records to support the designation.  Time worked must also be measured so hours greater than 40 will be known and overtime paid to those not [...]

BlogTalkRadio Summary July 12, 2010: Q&A on Mortgage Issues in DFA (Dodd-Frank Act)

2017-12-20T17:34:16+00:00 July 14th, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , , , , , , , , , , |

Glen Corso, Executive Director of  The Community Mortgage Banking Project, joined the BlogTalkRadio/Lykken on Lending show again today and was kind enough to answer a series of questions from the hosts about the content of the Dodd-Frank Act (DFA).  Glen has lobbied on behalf of the industry as this bill progressed through the legislative process.  The DFA is expected to pass the Senate soon and will then be signed by the President.  It has several provisions which, when implemented, will have a significant impact on the mortgage industry.  Its implementation is many months down the road, but its content needs to be understood to the extent possible.  Many of the provisions in the DFA will not be fully understood until regulators have finalized the Bill’s implementation rules. Click on the attachment to read through an extensive Q & A on these topics. Click PLAY to listen to the podcast of this week’s BlogTalkRadio/Lykken on Lending with Dave Lykken and MBSQuoteline’s Joe Farr: Listen to internet radio with David Lykken on Blog Talk Radio MBSQuoteline supplies the essential market information necessary for effective decision making by Originators when assisting borrowers during the loan origination process, and for secondary marketing departments while managing pipelines. For additional [...]

BlogTalkRadio Podcast – June 21, 2010

2017-12-20T17:34:16+00:00 June 23rd, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , , , , , , , , |

Wouldn’t it be nice if Congress would extend the “close-by deadline for those trying to get the Homebuyer Tax Credit?  Sure it would. Wouldn’t it be even nicer if they did it now, June 21st,  before we all break our backs trying to get the thousands of  transactions closed by June 30th?  Any anxiety out there right now? Glen Corso, Executive Director of The Community Mortgage Banking Project and an industry advocate, brought to the BlogTalkRadio show today an up to the minute status report on HR 4213, the bill being considered by the Senate which, if passed, will extend the “close-by deadline to qualify to receive the Homebuyer Tax Credit from June 30th to September 30th.  According to Glen, there is very little controversy on whether or not to extend the deadline. Most are in favor of it.  The rest of the bill, though, includes significant controversy and because of it, might not pass any time soon.  As a result, this is not a time to relax.  Push to close all the purchase loans that you can before the existing June 30th deadline. Glen also provided a shocking update from the House and Senate Conference Committee working on the [...]

BlogTalkRadio Podcast – June 14, 2010

2017-12-20T17:34:16+00:00 June 17th, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , , , , , , , , , , |

This week on BlogTalkRadio/Lykken-on-Lending: What drives mortgage rates?  Inflation and uncertainty.  Inflation is not present right now and according to the majority of the Federal Open Market Committee members it is not expected to be much of a concern for the near future.  Uncertainty, though, is alive and well.  Continuation of the recent economic improvement in the US is considered anything but certain.  Global economic growth has been a question mark.  The ability of several European nations to satisfy their debt obligations is uncertain.  This uncertainty has resulted in tremendous volatility in the stock market, which has caused tremendous volatility in mortgage-backed securities prices. Daily, global headlines suggest to  investors its time to shift assets to more or less risky investments.  That is what happened last week.  After reaching the highest level of the year, mortgage-backed security prices were beat down on Thursday based on headlines from Australia, China, and Europe, all which suggested improving economic conditions.  Investors sold low risk bonds and bought higher risk stocks.  The Dow gained 270 points.  MBS prices lost 25/32nds.   This pattern has been in place now since April when the European debt crisis raised its ugly head.  Look for volatility in mortgage-backed security [...]

BlogTalkRadio Podcast – June 7, 2010

2017-12-20T17:34:16+00:00 June 9th, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , , , , , , , , , , |

Dave Lykken, host of the BlogTalkRadio show Lykken-on-Lending, and President of Mortgage Banking Solutions, has published an article in National Mortgage Professional Magazine titled A View From the C-Suite: Branch development ... Four “C tips from the “C Suite.  In it he discusses four things to consider when adding branches to your production organization or when seeking a new production organization for your branch.  These four tips were the topic of discussion on the radio show today.  Here is a summary the four tips, but I recommend you read the full article for yourself. Both the producing group looking to join a new organization and the funding group looking to add more production need to carefully consider any potential marriage.  Both sides should follow the 4 "C"s:  seek  counsel, consider the culture, consider capital constraints, and consider character. 1.  Counsel here doesn't necessarily reference legal counsel, but legal counsel may help minimize confusion should things ever unwind.  The counsel you should seek is industry counsel.  Talk to those in the industry who know you and the other party.  Ask if they think the two of you will be a good match.  Some personalities just don’t mix. 2.  Find out if [...]

BlogTalkRadio Podcast – May 24, 2010

2017-12-20T17:34:18+00:00 May 25th, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , , , , , , , , , , |

Mortgage rates made a nice move lower last week.  In fact, they have moved lower each of the last four weeks, to the lowest level of the year.  Many of us thought mortgage rates would head higher after the Fed stopped buying mortgage-backed securities (MBS) at the end of March.  Mortgage rates did move higher just prior to and just after March 31st,   but new circumstances entered the market in April.   Uncertainty has pushed investors out of riskier assets like stocks (the Dow is well off its recent highs) and into less risky assets like government insured MBS.  Several things are contributing to this uncertainty.  The European debt crisis and a tightening monetary policy in China have made investors very uncertain about future economic growth in the US.   In addition, the passage by the Senate of a financial reform bill has many investors questioning how freely banks will make capital available to US businesses to finance their expansion.  This uncertainty combined with very low inflation rates have made MBS an attractive alternative. Dave Lykken hosted today’s show from the exhibit floor of the MBAs National Secondary Market and Expo.  He reported that the conference was well attended and the [...]

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