Count on Barney Frank to lead the charge on anything funky and those old mortgage liar loans. Sometimes he just unbelieveable. Liar loans, gay rights, now restoring big time gaming online. He help deregulate banks and trigger the current economic meltdown. Sometimes he just doesn’t seem sane.
It was on cable news a couple of times Wed. nite. do a search, i am not making it up.

On October 12, 2010, Wei Jiang, professor of finance and economics at Columbia Business School, presented Are Mortgage Banks Villains or Victims? The presentation was part of the Program for Financial Studies’ No Free Lunch Seminar Series. The October 12 event was centered on Current Research about Financial Institutions. The Program for Financial Studies’ No Free Lunch Seminar Series provides broader community access to Columbia Business School faculty research. At each seminar, attended by invited MBA and PhD students, faculty members introduce their current research within an informal lunch setting. Learn more at www4.gsb.columbia.edu

I’m come across the above phrase and have tried to get a definition on the internet / google etc without success.

Can anyone tell me what "mortgage book aquisition" means in relation to banks and lenders etc?

An answer in layman’s language would be fantastic!

Thanks

FF

I have an established relationship with Bank of America however there are several other smaller banks and lenders out there with better rates. What happens if you get a mortgage through a smaller bank or lender and they go bankrupt or get bought out by another company? Does it affect your mortgage rate? Is that the chance you take or is the rate locked in no matter what?

I have received several pre-approvals for an FHA mortgage loan. However, I have been dealing with mortgage consultants by internet/email. Although I have received some from major banks and some from mortgage lenders (not necessarily big-name companies), would it be better for me to go into a local branch of a big name bank and deal with a mortgage consultant face to face? I’m wanting this process to be as smooth as possible, following a major bump in the road. Any help and/or insight that can bre provided will be greatly appreciated. Thanks.

I have an interview with a mortgage company tomorrow hiring a loan officer. The owner mentioned he typically hires for commission only, but has in the past and considered a small base salary plus commission to get started.

The Economy: Rates are historically low on mortgages, home prices are low, but banks are not lending.

Do you think I could make money? I have 7 years sales experience. How much do loan officers make?