Blog Talk Radio Show February 6, 2012: Retaining Servicing

2017-12-20T17:34:14+00:00 February 7th, 2012|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , |

Is your company one of the many looking into selling their mortgage loan originations on a servicing retained basis?  If so, the Lykken on Lending show today is one to which you should listen.  Servicing experts Austin Tilghman and David Stephens, from United Capital Markets, were guest speakers.  They explained  that economics have forced many former release shops to consider retaining servicing.  With so many correspondent lenders out of the market or having curtained their volume, there is very little competition for loans and as a result the correspondents are not having to pay full value for servicing.  Even though the economics may compel originators to retain servicing, there are several complicating factors to be considered before doing so.  One should consider the time it takes to become approved as a servicer with the agencies, the need to acquire sufficient net worth to qualify, employing servicing knowledge, and adapting to the changing cash flows of your business. Other non-economic risks need to be understood in making a decision to retain servicing, including the significant regulatory uncertainty surrounding servicing and that there is an unclear secondary market for servicing rights in the future.  What is clear is that the servicing cash flows [...]

Blog Talk Radio Show January 23, 2012: Chief Economist Fannie Mae

2017-12-20T17:34:14+00:00 January 24th, 2012|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , |

Our special guest on the Lykken-on-Lending blog talk radio show today was Doug Duncan, the Chief Economist for Fannie Mae.  Doug  provided his thoughts on the economy, housing, Europe, and inflation, but the most interesting comments had to do with his answer to a question asking how he would characterize what will happen in  2012.  Doug answered by directing the listeners to a Fannie Mae research paper entitled 2012 – Year of the Political Economy.  This paper can be found on the Fannie Mae web site at  Doug explained that  2012 will be very heavily effected by the number of regulations just added to the books, as well as the many new regulations to be issued in the months to come.  The consequence of the huge number of new regulations is UNCERTAINTY.  He estimates that uncertainty will cost the economy 1% in Gross Domestic Product or $500 to $750 billion in 2012, effecting both the consumer and businesses. 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 [...]

Blog Talk Radio Show November 21, 2011: HARP II Guidelines

2017-12-20T17:34:14+00:00 November 21st, 2011|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , |

HARP II guidelines were released last week and I was more confused than before.  We are fortunate to have Alice Alvey to interpret what the guidelines  say about who will be able to offer borrowers this new product and when.  She too found it difficult, but this is what she thinks the guidelines say regarding who and when.   First, the current servicer of a loan will be able to refinance their serviced loans beginning with applications taken after December 1, 2011.  For these loans, certain provisions will not be available for settlements prior to January 3, 2012,  so most loans will not fund until after then.  Access to the HARP II does not open up to non-servicer originators (Open Access) until March 15, 2012.  This is when the automated underwriting engines will be programmed to accept loans with the LTV waiver.  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. [...]

Blog Talk Radio Show October 3, 2011: Dire Predictions

2017-12-20T17:34:14+00:00 October 6th, 2011|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , |

Toni Moss, the President of AmeriCatalyst and EuroCatalyst, joined the Lykken on Lending radio show on Monday to provide her thoughts on the world economy.  Toni’s experience and knowledge makes her opinions worth listening to.  She has access to the finance ministers of most of the European nations, as well as in the US.  Toni’s assessment of the world economy is that major changes are ahead.  And they are not positive changes.  She believes that a global economic collapse is underway and default by Greece on its sovereign debt, which she believes is imminent, will be the first of many dominoes to fall.   Money and the power that goes with it is leaving the western nations, including the US,  and moving east.  She believes globalization has neutralized the effect sovereign entities have over monetary policy and that we are headed to the end of the fiat currency system (money backed by governments, not a physical commodity).  She expects all this to be well underway in 2012.  Wow! Toni paints a dire picture of our economic future.  Her opinions are certainly due thoughtful consideration.  I am not sure I know what you can do with the information.  If what she expects [...]

Blog Talk Radio Show September 26, 2011: Legal Considerations as You Change Companies

2017-12-20T17:34:14+00:00 September 27th, 2011|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , |

On today’s Lykken-on-Lending radio show Dave Souders, a partner at Weiner Brodsky Sidman and Kider, provided some things for a Loan Officer (LO) to keep in mind as he or she moves from one mortgage company to another.  He said most moves have unique circumstances, but that in all cases a LO should make sure they are very much aware of and are complying with the terms of their existing employment agreement.  This document could address what the company says you can and cannot take with you leave, like your customer data base, prior customer loan information, or your  roll-a-dex of contact cards.  He thought every company to which a LO moves should be aware if the restrictions contained in his or her prior company employment agreement as well.   The new company will likely be involved in any litigation which may arise.  Dave said that LOs who do not abide by the terms of their employment agreement have been pursued for damages by their prior employer and have even been pursued by the OCC.  Branch managers who are negotiating with a new company to move their team of originators need to be mindful of State laws regarding duty of care.  [...]

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