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Author Archive | Duane Gomer
LIBOR ENDS SOON. WHAT IS NEXT?
Some experts think the Federal Reserve Bank of New York Secured Overnight Finance Rate has the best chance of being the replacement. Why replace it? The London Banks lied. It is scandal-plagued. Something must be done by the end of 2021. LIBOR is to be phased out by then. It will be interesting to see […]
CFPB TRIED TO CHANGE ITS NAME
I said then and I will say it now, “This is not going to happen.” Director Mulvaney did not understand the situation. Kathy Kraninger ditched the idea the day she came in. Estimates of the costs for the government to change their site and for lending companies to change their files would be millions and […]
VA CHURNING RECOMMENDATIONS
The Government had the opinion that certain lenders were “refinancing” VA loans too often, and the loans were not always in the “Best interest of the Veterans.” They wrote some new regulations. Now, when you make VA loans, you have to be familiar with the terms “Net Tangible Benefit, Loan Fees, LTV Ration Loan Seasoning, Disclosures, […]
JUMBO REVERSE MORTGAGE
Someone the other day asked me “How do I explain these loans to a client?” There is an excellent article a few days old that asks an outstanding question. “Who needs a proprietary reverse mortgage not the usual HECM.” Answer: A homeowner of an expensive home who wants more money out with no payments. Here is […]
BASKETBALL SEASON
On Season The basketball season is over. It finally ended halfway thru June. Good to see the underdog win this year and yea for Canada. Off Season Now the off season begins in earnest. Already the LAKERS have gone big and arranged a trade for Anthony Davis. They did mortgage the future a little. As […]
Why Should You Take A Live Duane Gomer Seminar?
LIVE Courses Our Company Specializes In LIVE Courses To Become A Real Estate Salesperson Or Broker, A Mortgage Loan Originator, Or A Notary. We also have LIVE courses to renew all of these licenses. We offer courses only in California, so we know the territory much better than out-of-state companies. FIRST QUESTION: WHY TAKE LIVE? 1. Pass AnyExam On […]
FINAL NOTES ON US OPEN
Winners and Losers Gary Woodland wins the US Open at Pebble Beach. Brooks Koepka does not win his third open in a row and Tiger finishes down the line. I was in Las Vegas the week before the Open and happened to be in a Sports Bar picking up some Clemson earnings from New Years. […]
LAMBDA
How It Works Instead of tuition Lambda School of the Bay Area charges a cut of future earnings. They teach information technology skills online, charge zero tuition, and offer stipends to select students. The deal is that students pay back 17% of their first two years income if the earnings exceed $50,000.00 with a maximum […]
MORE REAL ESTATE WORDS: TWO
Tax-Deferred When people talk about 1031 Real Estate Exchanges, they use the word Tax-Free. The correct word is Tax-Deferred. You will be paying the tax sometime later. And in every exchange one party is normally going to be taxed, unless they are also doing an exchange. You can have several legs to an exchange, but […]