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“A fine is a tax for doing wrong. A tax is a fine for doing well.” April 15th is in a week, the traditional date when taxes are due. Time flies. Do you realize that we have seven more months until the election? Seven more months of headlines and gaffes, posturing, missteps, and election trivia (like no Republican has been elected to the White House by a majority of Americans since 1988). I’m glad residential lending continues to motor along, albeit at a very moderate pace. Politics can determine the regulatory environment, and this Wednesday’s L1 “Mortgage Ma...

California is home to approximately 39 million residents, which is about one-eighth of the U.S. population, more than the entire population of Canada, and accounts for 20-25 percent of residential loan production. Most California's residents belong to ethnic minority groups; in fact, one out of every four Californians was not born in the U.S. Here in Northern California a fair number of people are in real estate and lending, so predictions about the Federal Reserve are of great interest. Primary dealer banks have pushed back their predictions on when the Federal Reserve will end its qu...

Did you receive any SM under the tree this weekend? Call it snail mucus, or snail mucin, it’s all the same to me, which, as a kid, represented a trail to something I could direct the sun’s rays on using my magnifying glass. (Sorry, when you’re a kid on a very limited budget, this counts as amusement.) But times change and now it’s a beauty product? “Next level!” Really? SM aside, Depth’s Kerri Milam reminded me that the key difference between initials and acronyms is that we pronounce acronyms as a word and initials as a list of letters. Put ano...

If olive oil is made from olives, what is baby oil made from? The regulatory framework, some would say “tangled web,” facing lenders is made from hundreds of federal, state, state, local, and quasi-governmental bodies. Analogies aside, near the top of the heap is the Consumer Finance Protection Bureau. The CFPB makes its priorities known and is concerned with redlining among other things. The CFPB can’t do anything about rising credit score costs, but for some reason people think it can. On Wednesday at 2PM ET, 9AM HT, the CFPB’s Mark McArdle will be educating us in...