Blog Talk Radio Show Summary July 18, 2011: Future of Mortgage Banking (Part III); CFPB Update

2017-12-20T17:34:15+00:00 July 19th, 2011|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , |

The Consumer Financial Protection Bureau (CFPB) was the topic of discussion this week on Lykken on Lending.  The CFPB is set to start business on Thursday of this week.  It will do so without a Director, as President Obama has just announced his choice.  The name Richard Cordray will likely be sent to the Senate for confirmation.  His confirmation is not assured.  But in defense of Mr. Cordray, confirmation of any one is unlikely without significant efforts by Republicans in the Senate to alter certain aspects of the CFPB.  As was established in the Dodd-Frank Act, the CFPB is to be headed by a Director.  The Republicans would like to change that to a five person commission.  Also, as set forth in the Dodd-Frank Act, the CFPB receives its funding from the Federal Reserve System rather than from Congress.  Senate Republicans want to see the CFPB funded by Congress so as to make the CFPB more accountable.  The CFPB will be a very powerful regulator and as such both these Republican demands have substantial merit.  Lets hope the President does not circumvent the nomination debate by making the CFPB Director appointment during the August recess. Click PLAY to listen to [...]

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 [...]