2 comments

Mike Johnson April 4, 2011 at 8:31 am

Again . it seems like we’ve cleared the decks, first for the FHA/HUD to collect more MIP, and now for the BANKS to collect the upfront Loan Origination Fee. Overall, try as hard as you’d like to, you are not convincing ANY MLO’s out there that any of the new “RULE” is going to be good for their pocketbook. No Front and back, only one, and that one alone is less than previously earned. Seems like REVERSE is now going to be considered like a Forward loan when it comes to comp, which is not good for Reverse LO’s, as they went into this knowing they’d make more per deal and there are lots less deals to be had in REVERSE than there are in Forward mortgages.

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CLIFF RIDDLE April 6, 2011 at 8:56 am

LOOKS LIKE THE BANKS PUT US L.O.s WHERE THEY WANTED TO.

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