{"id":3874,"date":"2008-08-13T20:27:58","date_gmt":"2008-08-14T03:27:58","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=3874"},"modified":"2008-08-13T20:27:58","modified_gmt":"2008-08-14T03:27:58","slug":"a-proposal-to-improve-mortgage-lending","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3874\/a-proposal-to-improve-mortgage-lending\/","title":{"rendered":"A Proposal to Improve Mortgage Lending…."},"content":{"rendered":"

Since there are a variety of licensing, regulation, education, criminal background check proposals bouncing around in an effort to clean up the mortgage world, I thought I’d throw out my own proposal on how to improve mortgage lending.<\/p>\n

I’m proposing that as part of the training for becoming a mortgage lender, all originators be required to spend a minimum of 6 weeks working with a Realtor full time.\u00a0 They would be required to essentially job shadow the Realtor in every aspect of the business.\u00a0\u00a0 What would they learn during their time?<\/p>\n

    \n
  1. They would learn that Realtors don’t get weekly paychecks, they only get paid when they sell a house.<\/li>\n
  2. They would learn that Realtors have many people putting pressure on them to “get the house closed.”\u00a0\u00a0 The seller wants to close so they don’t have to make another payment on it.\u00a0 The buyer wants to close so that they don’t have to move twice.\u00a0\u00a0 The Realtor’s wife wants them to close so she has the money to buy groceries.\u00a0\u00a0 The Realtor’s daughter wants them to close so that Dad can buy her the stuff that she needs to “look good” going back to school.\u00a0\u00a0\u00a0 The Realtor’s bank wants them to close so that he can make the payments that need to be made on the _______ (fill in the blank – car loan, lease, house payment, home equity payment).<\/li>\n
  3. They would learn that there is a lot more to marketing a house that is for sale than a sign in the yard and a listing in the MLS.<\/li>\n
  4. They would learn the intricacies of negotiating a purchase agreement and have a much better handle on the dynamics of the relationship between buyer and seller and the ways that a lender can avoid disturbing those relationships.<\/li>\n
  5. They would realize that many Realtors care deeply that their buyers and sellers make wise decisions when they are buying or selling and aren’t just focusing on “how much can I make.”\u00a0 Unfortunately, not all of them are focused that way.<\/li>\n
  6. They would realize that there is a lot more that goes into determining what price to list a house at than the Read more<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    Since there are a variety of licensing, regulation, education, criminal background check proposals bouncing around in an effort to clean up the mortgage world, I thought I’d throw out my own proposal on how to improve mortgage lending. I’m proposing that as part of the training for becoming a mortgage lender, all originators be required […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,26,5,10],"tags":[132,219],"class_list":{"0":"post-3874","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-general","7":"category-lending","8":"category-real-estate","9":"category-realty-reality","10":"tag-lenders","11":"tag-realtors","13":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3015,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3015\/realtors-are-important-to-an-originators-successsort-of\/","url_meta":{"origin":3874,"position":0},"title":"REALTORS are Important To An Originator’s Success…Sort Of.","author":"Brian Brady","date":"April 25, 2008","format":false,"excerpt":"Loan originators are taught to develop REALTOR relationships. While development of those referral relationships is important, I've seen originators waste time and money on unprofitable \"partnerships\". This initial article, in my new series about REALTOR marketing, will explore how to quantify the referral relationship to more efficiently understand how to\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3185,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3185\/whos-a-mortgage-fiduciary\/","url_meta":{"origin":3874,"position":1},"title":"Who’s a Mortgage Fiduciary?","author":"Brian Brady","date":"May 31, 2008","format":false,"excerpt":"Are you ready for the next big argument about fiduciary capacity? It's coming in the form of national loan originator licensing and it promises to be a doozy. The Federal Housing Finance and Regulatory Reform Act of 2008 is proposed legislation that seeks to license anyone who quotes rates or\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":810,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/810\/a-realtors-guide-to-alien-lenders-2\/","url_meta":{"origin":3874,"position":2},"title":"A Realtor’s Guide to Alien Lenders","author":"Brian Brady","date":"December 26, 2006","format":false,"excerpt":"\"First you get the money, then you get the power, then you get the ....\" -Tony Montana in the movie, Scarface The professional Realtor has always helped a would be homebuyer by referring her to a credible financing source. That paradigm has shifted much in the past few years as\u2026","rel":"","context":"In "Enduring Interest"","block_context":{"text":"Enduring Interest","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/enduring-interest\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2663,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2663\/once-more-with-feeling-mortgage-rates-are-determined-by-mortgage-bonds-mbs-not-the-ten-year-t-note\/","url_meta":{"origin":3874,"position":3},"title":"Once More With Feeling- Mortgage Rates Are Determined by Mortgage Bonds (MBS), Not The Ten Year T-Note","author":"Brian Brady","date":"February 26, 2008","format":false,"excerpt":"Mortgage rates are volatile today...very volatile.\u00a0 There are two underlying factors contributing to the volatility: suspicion of the credit quality of the MBS market and supply\/demand imbalance (more people want money than is offered). Why am I so adamant about the fact that the ten-year treasury note is not the\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1964,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1964\/can-the-nar-improve-a-buyers-financing-experience\/","url_meta":{"origin":3874,"position":4},"title":"Can the NAR Improve a Buyer’s Financing Experience?","author":"Brian Brady","date":"September 23, 2007","format":false,"excerpt":"Realtors have to stop complaining about the sorry status of the lending industry. Why? They have the power to make a difference but refuse to take action. I have often heard the Realtors' cry for licensing of loan originators and a plea for lending advisers to adopt a fiduciary capacity\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3164,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3164\/the-unchained-originator-ken-stampe\/","url_meta":{"origin":3874,"position":5},"title":"The Unchained Originator: Ken Stampe","author":"Brian Brady","date":"May 26, 2008","format":false,"excerpt":"I was disappointed with the low turnout of loan originators at UNCHAINED. There were two local originators, who attended our Mesquite library performance, and my buddy Ken Stampe. Ken and I met in 2006, on Active Rain. He was one of the first to sign up for Unchained. His only\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=3874"}],"version-history":[{"count":8,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3874\/revisions"}],"predecessor-version":[{"id":3882,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3874\/revisions\/3882"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=3874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=3874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=3874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}