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. […]

This happened late last year, but I thought it was worth noting. The Seattle Post-Intelligencer, which hosts a innovative section of professional reporters and readers blogs (including my Seattle Real Estate Professsionals blog), suspended a blogger for being a little too generous with quotes from another source.
Blog Suspended

Toronto homeowners just may be the most pampered, tax-sheltered, spoiled-rotten ratepayers in the GTA. The residential property tax hike to be approved at Toronto City Hall today or tomorrow is expected to be 3.75 per cent ““ among the GTA’s lowest. Oshawa, in assessment-poor Durham Region, will hike taxes 4.61 per cent, and neighbouring Whitby, […]

You hear a lot these days about setting goals and how powerful they are. Being an old goal setter myself I can attest to the truth and accuracy of that statement. Setting goals can be critical in helping you achieve any and all of your dreams including buying that first home. Here are 5 tips […]

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 Mortgage reader. […]

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 […]

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 […]

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:

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Friend me up if you feel like it (h/t GaryVee).  Blown Mortgage isn’t anything with out you guys, so since we’re friends already we might […]

The New York Times has a story about the abuses of the foreclosure system that have become overly-apparent in the deluge of foreclosure activity that has followed the wave of subprime mortgage ARM-loan resets. This is a long article, but an important read for any of you that are personally facing foreclosure or have […]

On January 29th 2008, RealtyTrac®, the #1 online authority for foreclosures & defaulted properties, released their 2007 U.S. Foreclosure Market Report.
In their report, they mention that the 2007 foreclosures are up 75% over 2006 with a total of 2,203,295 foreclosure filings. The report also shows that more than 1 percent of all U.S. households were […]