Over the last eight days, calls from my clients and mortgage associates having been growing on a daily basis concerning the recent announcement by the FHA delegating mortgage broker approval to originate FHA loans to approved DE lenders. Quite frankly, many small lenders and mortgage brokers are concerned the mega-lenders will yield a big stick and force the smaller players out of the FHA playing field.
In this video, I provide an overview of the concerns, share background information and then present my thoughts.
FHA Delegates Broker Approval to DE Lenders
Note: This is my first video, so please excuse any rookie production mistakes.
Robert Worthington says:
Tony, the video was great. The small independent brokers are going to be squeezed hard! Big Lenders are going to dominate the FHA world. Must be nice to be a mega lender who is in good position with this news. Big Lenders, Big Government, and Big FHA. Here we go….
September 28, 2009 — 9:29 pm
Thomas Johnson says:
ACORN or Wells Fargo? Choice and competition.
September 28, 2009 — 9:41 pm
Dylan Darling says:
Lets hope the small guys can ralley and still be around to service FHA loans. Customer service is key in the mortgage business, and some of the smaller companies “go the extra mile” for their clients. And I’m not saying the big dogs don’t. But we need competition in the Mortgage Business.
September 29, 2009 — 7:56 am