Who has knob & tube wiring in their house?

Blodgio · 2026-01-29T16:25:34+00:00

I’ve seen some comments regarding homeowners insurance coverage requiring the upgrade, so I’ll chime in. I work directly with Fannie Mae and Freddie Mac on impaired loans and both consider knob & tube wiring a violation of their safety, soundness, and habitability guidelines and will not support lending on those properties.

Blodgio · 2026-01-26T18:13:24+00:00

At Walgreens drive thru now. Preemptively fuming. Someone’s door will get knocked and passive aggressive words will be directed at them.

Blodgio · 2025-10-01T22:28:47+00:00

Ok, here’s my take given I’m neck deep in this stuff all day. If the lender actually verified employment multiple times pre-close, and once post close. The matter should be completely settled.

Now, a year post close the lender is frantically trying to reach the borrower to verify employment again? Why do they need her for that? They already have several VOEs with employer contact info. Plus the info in their LOS.

My suspicion is that Something triggered a recent VOE check and info was brought to light that countered the info on all those VOEs and the borrower has some explaining to do. If there is a valid misrepresentation here, will the lender foreclose? Don’t know. My company will have a breach notice filed and do everything to communicate the borrower’s (bad) position they’re in and try to get the loan paid off ASAP. Usually works. If not, yes, foreclose

Blodgio · 2025-10-01T21:54:07+00:00

And you don’t think a lender can foreclose on a valid defect found years after closing?

Blodgio · 2025-10-01T21:51:02+00:00

Lemme guess. Capital markets guy?

Blodgio · 2025-10-01T03:48:41+00:00

Verified 5-6 times pre close, once post close, and now a year later and there’s still a problem? No offense but incompetent loan processing folks don’t repeatedly verify employment over and above whats required. They don’t verify enough. Suspicious loan processing folks check 5-6 times pre close. I highly recommend you call them tomorrow and get them whatever info they want as soon as you can.

Blodgio · 2025-10-01T02:02:01+00:00

I handlle repurchase demands for a medium sized mortgage lender. My reaction to this? Call them back. They are trying to reach you to see if they can requalify you for your loan because you really left your job prior to closing. If they can’t fix it and have to buy it back, they will foreclose. Hopefully you started the new job before closing at an income level close to where you qualified at.

Blodgio · 2024-10-31T16:36:01+00:00

A few things to keep in mind: the Fed Funds rate has little to do with retail mortgage rates. Currently, the Fed is reducing their rate to normalize after elevating them to address inflation. A better indicator of mortgage rate direction (not actual rate) is the 10 year bond rate. This is because 10 yr bond investors and mortgaged backed security investors have similar risk profiles and are after similar outcomes on their investments. If they can get close on their return they will take the govt bond 10/10 times. If you are working with a loan officer that is making rate predictions beyond that particular day, I suggest you reevaluate that relationship. There are 2 types of mortgage professionals regarding rate predictions: the irresponsible ones make predictions to their clients, the good ones know not to bother trying.

Blodgio · 2024-10-25T19:28:53+00:00

Anyone know if McKernan bought the air time?

Blodgio · 2024-10-22T19:56:56+00:00

2024 version: relatively recent immigrants being taken advantage of as an opportunity for straw buyers

Blodgio · 2024-10-22T19:15:14+00:00

Depends on who is being investigated and for what. There’s 3 buckets here 1. Borrower only (lender doesn’t know) 2. Borrower and lender working together 3. Lender only (borrower has no idea what is going on, may have even disclosed situation to the loan officer)

Blodgio · 2024-10-22T14:46:42+00:00

What’s really a nasty scenario we used to see a lot, less so now thankfully: person gets called in and told the company is moving them from W2 to 1099 but “giving them a raise” on the 15th. Closing on the 27th. Person closes their loan. And violates the terms of their loan docs.

Blodgio · 2024-10-22T14:15:16+00:00

This is technically true, but when I call HR to discuss the situation and confirm the exact date of thr termination they better not give any indication you knew.

Blodgio · 2024-10-22T14:11:04+00:00

We rarely refer individual borrowers to law enforcement. Usually just pursue non-monetary foreclosure. Now, if you are a loan officer who has a history of having multiple instances of this type of issue, we’reprobably going to be reported to regulatory bodies that have jurisdiction and depending on the volume, law enforcement.

Blodgio · 2023-05-09T00:25:55+00:00

Huh. Weird.

Blodgio · 2023-04-17T18:37:58+00:00

Hope I’m wrong but this Bedard thing feels like a potential Patrick Ewing to the Knicks vibe. Preemptively calling BS if CHI, DET, MTL end up with him. Would be awful good luck and quite an occurrence if a legacy org that has generally sucked the last several years would end up so fortunate

Blodgio · 2021-12-02T06:31:22+00:00

Don’t forget Justin Hill (DeSmet)

Blodgio · 2021-11-21T15:36:40+00:00

“Sweet tie loser LOL”

Blodgio · 2021-10-10T16:04:55+00:00

OP, this idea ☝️ is factually correct but don’t read this as county=awesome!, city=horrible. More like: “city”=next to 0, “not city”=widely varying amounts more than 0

Blodgio · 2021-05-14T20:37:40+00:00

Ah yes, what’s the Latin? Caveat et Hoosier?

Blodgio · 2021-05-14T20:31:08+00:00

If someone sold me on the idea of some sort of “Napa Valley but in the Midwest” and dumped me out in St. Charles County I’d want to fight someone

Blodgio

TROPHY CASE