A handout to give applicants on the 10 commandments when applying for a mortgage.

Here’s a fact you may not be aware of: properties governed by homeowner associations are the most rapidly growing form of housing in the U.S. today. Nearly 80% of new home construction is connected with an HOA or community association, according to the Community Associations Institute, the trade association representing HOAs.

The other day a mortgage recruiter made a blunt statement to us: “Wholesale lending is really hot right now.” Of course, given what’s happened to the mortgage business the past few years and all the blame being placed on brokers for crappy loan quality, such a statement might be taken with a grain of salt.

When I first landed in the business of mortgage loan origination back in 1983, the first milestone I was told to shoot for was $12 million a year. Originators who produced a million dollars in total closed loans each month were said to have “arrived.” Once there, the second level of success to set your sights on was $25 million a year. People who consistently produced over $2 million a month were said to have “achieved.” Finally, the peak performance group to belong to was the $50-million-plus club. Those stellar, superstar originators “amazed” everyone with the volume of loans they closed and the money they made.

At some point the White House might finally understand that the regulatory pendulum has swung much too far in the other direction.

How effective is social media as a sales tool? According to a pair of researchers at Behavioral Sciences Research Press, the old tried and true method of person-to-person contact is much more effective.

Today’s mortgage bankers have to accept very, very long audits as a marketplace reality. Whether they find auditors likeable and useful, on the other hand, is highly disputable.

But what does the eventual resolution of ResCap really mean? Answer: A new, stronger competitor (Nationstar) could rise from the ashes. (If Dan Mudd was still at Fortress -- which owns a piece of Nationstar -- he might be considered the “Comeback Kid.”)

What is clear after reading the May 9 information release is that when it comes to the CFPB and the Federal Reserve, the left arm clearly does not know what the right arm is doing

Is the mortgage industry in the throes of what might turn out to be a lengthy and profitable recovery? Let’s look at the signs: Fannie Mae just posted a hefty profit, Freddie Mac has earned money on an operating basis for at least two quarters in a row, many lenders are enjoying strong profit margins and the HARP program appears to be humming along. Optimists might have reason to pop some champagne.

Talk about pet peeves, sales and marketing slogans are high on my list. Companies employ a variety of sales and marketing slogans but totally disregard the intent and meaning of the phrase they use. They even go so far as to have it as a salutation on their emails and voicemail greetings.

Over the past dozen years, one of the best things I’ve done on the road is to gather top industry officials around me and have a freeform, on-the-record roundtable of industry issues.

When the CFPB’s loan officer compensation proposal came out late Wednesday night nonbank mortgage lenders and loan brokers hit the roof. Some trade group officials thought the young agency actually understood the mortgage market, thinking it would do what is best for consumers – which brokers believe would benefit them.

James Delbert McConville, a Fremont man, was sentenced to nearly eight years in prison and must pay more than $7 million in restitution after being convicted of conspiring to commit mail and wire fraud, federal prosecutors said.

More information from an anonymous contributor who wanted me to spread the word about how if you don’t feel good, your business will suffer.

Once again the government is taking out the mortgage crisis on nonbanks, their loan officers and mortgage brokers. On Monday National Mortgage News will publish a more detailed story about the mess, but suffice to say there are many things that rankle nonbanks concerning the Consumer Financial Protection Bureau’s new mortgage compensation rule.

The reality is that every morning, when you wake up, you are broke until you find a way to get more business and close loans.

Some loan officers hate appraisal management companies (AMCs) and here’s why: Several megabanks control AMCs through joint ventures and are making huge fee income while paying rank and file appraisers little.

What the heck ever happened to Uncle Sam’s subprime (real estate) lender, Springleaf Financial? Good question.

HARP 2.0 is hot – or so we keep hearing. Late last year the Treasury Department finally found the keys to the HARP kingdom: take the loan-to-value ratio girdle totally off the patient and see what happens.

The lending industry would face “disparate-impact” liability for Fair Housing Act violations under a rule recently proposed by HUD.

In February and January of this year mortgage firms hired 5,500 workers. That’s good news for the industry and shows that residential finance is on the rise again after several rough years of dealing with record delinquencies, sagging home values, tougher regulations, and the general perception that “renting is good.”

On top of the regulations imposed by the CFPB, by Aug. 13, all mortgage banks will need to become compliant with Federal Anti-Money Laundering ("AML") regulations. "FinCEN," the Financial Crimes Enforcement Network, created through the Patriot Act in response to the Sept. 11, 2011 attacks, requires lenders (including non-depository institutions) to comply with AML regulations.

Going paperless makes sense because it cuts costs and grows business.

It’s not easy being president. Just ask George W. Bush or Jimmy Carter. As for the current inhabitant of the White House, he was a bit late to the game when it came to tackling the housing and mortgage crisis. He wants to fix the housing/mortgage mess and he controls (sort of) three entities that can aid in that recovery: Fannie Mae, Freddie Mac and HUD/FHA

Neil Morse was a gifted mortgage writer, an indefatigable road warrior, a thoroughly professional public relations executive, and finally as a colleague for his work with our conference group. He died way too soon (he was 62).

Stop me if you’ve heard this one: “We’re running out of inventory.” The inventory in question is housing and in selected real estate markets Realtors are complaining (here and there) about the lack of homes in “hot” neighborhoods.

It appears that a flip-flop of sorts is happening in regard to the FHA and VA programs.

For a year now the government owned Ally Financial has kept mum on the idea of throwing ResCap into bankruptcy protection but the self imposed gag order came off late Friday night.

eWarehouseOne’s Tom Reynolds, Man of Mystery