February 23, 2007 by keith.

I think I get paid if you click on the link for 1and1, the host server I use.

This site was down for at least three weeks- possibly even longer.

I don’t post here much- its currently really just a beta of the wordpress functionality of 1and1.

More active and interesting stuff can be found over at the .net site:

http://www.mortgagethinktank.net

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October 17, 2006 by keith.

Here is the link to the press release.

I am surprised that it took this long for someone to figure out there is a massive disconnect between what LendingTree says in its ads, and what their actual practice is in reality.

This also is likely the result of a change there at LendingTree where they recently bought a broker that is now taking their best leads and funding them.

Yes, mr or mrs consumer, banks have competed and I have just reviewed 4 rate sheets and this is the best price.

Sure, the banks really did compete.

If you have anything to offer the law firm in terms of leads or you yourself were the victim of their unfair business practice, here is the email address from the yahoo press release:

LendingTreeinfo@tlpfirm.com

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September 6, 2006 by keith.

Althought mortgage lending has moved from requiring a 20% deposit to zero down mortgages, you will still need a fair bit of cash on hand at your closing. Depending on your state, there will be flood certification fees, title insurance (biggest rippoff ever) and legal fees.

Be prepared and be certain. And ask any prospective loan officer or broker how much cash you will need.

Sometimes you will be able to have the seller give back part of your purchase price to help cover closing costs. This is simply a bit of a gimmick as it is an increase over the agreed sales price that merely comes back to the buyer. There are limits to the amount that can be so financed.

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September 6, 2006 by keith.

I was observing site stats for my various web pages and besides me, the big visitor happen to be bots. And I noticed that the Yahoo bot came more often than the google bot.

I take this small piece of evidence to mean that Yahoo is seriously investing to build up its search capabilities.

However, the clencher for the above statement is that doing a google search for mortgage think tank no longer brings up this site. Yahoo, does bring up this site and my other .net site.

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August 30, 2006 by keith.

Goog question. There will be an origination fee which typically accrues to the lender. Then, brokers will get paid YSP from the lender that ultimately funds the deal. This is paid by the funding lender to the broker, and the amount will vary based on how desirable your loan is. Credit, LTV & loan amount will alll pat somje role.

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August 30, 2006 by keith.

I guess maybe Google doesn’t like blogs- all of the sudden today, this site dropped from first result with a google search for mortgage think tank to not even showing up.

what is up with that?

Maybe blogging software is reflective of a not serious web site, and thus google despises it?

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August 29, 2006 by keith.

This should be a simple answer, but its not.

A mortgage broker, as defined by the trade, is an agent who acts as a third party between consumers and lenders.

A broker can be a single individual, operating out of his own home. Or they could be a larger organization, such as a ‘net branch’ company which is a single corporate entity with many loan officers.

Here is the best definition of a broker.

They don’t have any money. They find funding from the many wholesale lenders for clients.

One defining characteristic is where the money comes from. If the broker has money, typically a line of credit called a warehouse line, then they are considered a lender and likely a correspondent lender who might sometimes also broker loans entirely.

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