March 2008 - Blown Mortgage

March 2008

Countrywide issued a communication to its brokers today limiting compensation on all loans to Countrywide to 4 points, including yield spread premium (back points or YSP).  While 4 points may seem egregious to some, it is the first step at banks actively restricting total compensation to brokers above and beyond traditional federal and state guidelines. [...]


Headed On Vacation, Need Some Help

Hi Gang, On Saturday I'm headed to Mexico via a nice cruise from San Diego down to Mazatlan, Cabo, et al.  I'll be gone about 10 days.  I'm trying to load up some posts in the meantime, but I would love some guest posts while I'm gone.   I'll open it up to any Blown [...]


Stop the Housing Bailout

A new web site (and organization) has launched to help spread awareness about (and their disdain for) the state-sponsored bail out of the housing and mortgage industries currently underway.  Stop the Housing Bailout is encouraging citizens to contact their congressmen and women to urge them to cease using public funds to prop up the housing asset bubble [...]


Fifth Third Makes Wholesale Changes

Get it?  Wholesale and wholesale?  I kill me sometimes.  Fifth Third, a large mid-western-based bank has made some significant changes to its wholesale programs.  (h/t Chris)  You may recognize Fifth Third as the employer of Tom, one of our erstwhile contributors and frequent commenter.  These changes apply only to the wholesale channel, so I'm sure [...]


Blown Mortgage 2.5

I've been making a few changes around Blown Mortgage today, the biggest of which is upgrading to the new WordPress 2.5 release.  I've also added links to my: Twitter LinkedIn Facebook Pownce FriendFeed Google Reader shared items Digg StumbleUpon Friend me up if you feel like it (h/t GaryVee).  Blown Mortgage isn't anything with [...]


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