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Here come the changes

Making it more obvious every time regulatory changes are made at high level that those who make the changes are more in favor of big banking than the individual HUD and the GSEs have struck again. Beginning in January you will have a new Good Faith form and HUD settlement statement. The objective is to make it easier for the customer to comprehend and shop for mortgages. The result is it is easier to find the numbers but no easier to shop for mortgages.

Massive and sweeping changes to lending

Just when you thought the changes were slowing here come some of the most sweeping changes in the mortgage industry in decades. Brokers are all but gone – down to numbers less than 20% of less than two years ago. In Georgia alone the number of licensed mortgage brokers has dropped from 8700 to only 1800 in less than 24 months. Brokers may very well soon be all but dinosaurs.

Get ready for the opportunity to participate, and present, to hundreds of real estate and mortgage people across the nation about how to beat the changes and still provide services for your clients. Bankers, lenders, real estate agents, appraisers, and others will be invited to join.

Stay tuned! Ken Cook 678-439-8683