The mortgage industry has undergone many significant changes as a result of the financial crisis. One of the less known pending changes is about to take its final form and in its current draft Basel III will increase consumer costs and reduce consumers’ choice of mortgage providers. Basel III requires that a bank must maintain common […]
Tag: From the Desk of Cal Haupt
Posted inHome Mortgages, Thought Leader
Finding the Right Lender
A homeowner in Florida was puzzled to receive a condolence letter for his wife’s death from his mortgage lender. Why were they sorry for his loss? His wife was very much alive. But because their lender declared her deceased, they were unable to get a loan modification and despite repeated phone calls and a visit […]
Posted inHome Mortgages, Thought Leader
Tips for Applying for a Mortgage
While most of us have never had the unpleasant experience of sitting in a police interrogation room, fans of crime TV shows like me will recognize this scenario. “I’ve already told you what I witnessed on the night of October 22, 2011 seven times,” says the frustrated and exhausted witness. “Well, it’s time to tell […]
