Thursday, March 31, 2011

April 1, 2011-Will this be the end?

Tomorrow marks the beginning of compensation reform. I am one of those originators who has decided to embrace the change and not dwell on it. But I am wondering will this be the end of reform in the lending arena? Will the federal government, state, other licensing agencies go after another group of people, or is there more to be done to the originators who are still trying to make a living. I have taken tests, classes, continue to do Continuing education for both of the licenses I have. I disclose in multiple ways, multiple different subjects to home buyers. Sometimes I think all my disclosing confuses more than helps. But is all of this enough, or will there be more to be done to the loan origination side of the Real Estate market. Only time will tell.

Wednesday, March 9, 2011

March 9, 2011

It is almost mid-March. Time is flying. First quarter is almost complete, new laws are up and running, and newer laws are preparing to be put to use. Much will change, but as we have seen over the past two years, the more things change, the more they stay the same. Every new legislation has made lending more difficult, but we are still lending. All the new guidelines make lending a challenge, but we are still lending. The cost of making loans or getting a loan has gone up, but we are still lending and people are still borrowing. Those of us not here to make a quick buck, but to earn a living and to take care of our communities will still be here when lending is no longer under the microscope.