Jillayne's Stories

Our government created the FHA (Federal Housing Administration) Mortgage Insurance Program right after the Great Depression, to encourage banks to lend to people who have less-than-perfect credit. More recently, the FHA Mortgage Insurance program was used during the Great Recession to cushion the loss of subprime lending.

Dec 23

At the end of 2013, mortgage companies and real estate firms dismantled their affiliated business arrangements (AfBAs) because the 2014 Qualified Mortgage rule required profits from AfBAs be included in the 3 percent limit on fee income. As 2014 unfolded, lenders and Realtors created “Marketing Services Agreements” (MSAs) with a lender renting space inside a real estate office, though there are other examples of questionable MSAs.

Nov 3