LendingTree Affiliate Program

Word is out that the LendingTree affiliate program has been resurrected.

Kathleen Heck Finds The Humor At Work

Kathleen Heck gave me my first job in the mortgage business, as a Loan Officer for PNC Mortgage in Wayne, NJ back in 1995. She was also my colleague at American Home Mortgage for several years until our untimely end in August of 2007. Not only was she open minded enough to give a long-haired 23 year old me a job over 10 years ago, she continues to be an inspiration to me and undoubtedly many others like me who have been fortunate enough to be associated with her in business.

Her new book, After the Beep lets anyone interested share in her fun-loving point of view. Taken, evidently from actual voicemails, memos, emails, IVRs and other communication instruments of corporate life, Heck humorously fictionalizes the content, but anyone who has worked in the corporate workplace will instantly recognize their authenticity. Awkward HR memorandums, slapstick voicemail misunderstandings, and my personal favorite, a letter from a drunk mortgage CEO announcing the demise of his company, rife with misspelled words.

Perfect for a plane ride, it is a short and hilarious read. Reading it got me upset about all the fun I've been missing since I left corporate life...Not! Funny memories, thanks Kathleen.

Buy After the Beep at Amazon.com

580 Minimum FICO: FHA Reform, So What?

The House Financial Services Committe, chaired by Barney Frank (D, MA) approved the FHA Housing Stabilization and Homeownership Retention Act of 2008. A full House vote on the bill is expected next week. Much has been covered about the contents of the bill. In an attempt to help "at risk" homeowners, it roughly extends the authority of FHA insurable loans to about double what it is today.


The real question is, so what? Regardless of the Democrat's plans for government mortgage rescue, the secondary market is having none of it, and the very borrowers who are intended to be helped, are being eschewed by investors wary of poor quality(wasn't FHA the OLD subprime?)as subprime focused originators nationwide rapidly transform themselves into newfangled FHA shops.


Since April 1, finding any end investor to purchase FHA insured loans with FICOs under 580 is a fool's errand, regardless of the current or potentially expanded FHA underwriting guidelines (which allow, under certain circumstances, approvals for sub 580 FICOs).

Found a solution to this problem? Let us know!