So here we are, 2012

Written By: Theresa Furzland

So here we are, 2012 is underway. Speculation about what this year is going to bring is of course a popular subject these days and the doomsday crowd is getting ready for a party. I hope they are all around to suffer the “hangover” in 2013 since that would mean they are wrong again.

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The funny thing about the doomsday prophecies is that they are often based on partial information and not actual historical records. For instance, the Mayan projection of the “End of time” in December. It has been taken out of context and simply means that it is the end of a cycle. Yes it may be a harbinger of great change, but does not mean the end of the world.
Even the bible is misinterpreted. Revelation does not mean the end. It means something revealing or disclosed.
You don’t have to be a theologian, historian or even very imaginative to see that this is going to be a year of change. You don’t have to look far or even make your living in the mortgage industry to see omens that would make any believer in doom run for their underground shelter.

AND it’s an election year. This IS going to be fun!
The future of Fannie and Freddie is uncertain. The foreclosure rate continues at a spooky rate. I read somewhere recently that there are currently more empty homes in this country than there are homeless families. Our politicians can’t make any decisions because they are too busy butting heads with each other that they can’t even see when they DO agree! The president “went behind congresses” back to appoint a leader for The Consumer Finance Protection Bureau which was established by law over a year ago. In the meantime a customer needs to sign 15 documents every time they sneeze during the loan process.

Just the way the Appraiser Independence Laws played out is enough to make me want to stick my head in the sand! Now the customer is assured that their appraiser won’t have any undue influence and the lenders can be assured that the originators aren’t scamming them. They get as a benefit, appraisers that are so worried about getting any business from the lenders that their value estimates are overly cautious. They get to wait a longer time for that report to come back (because the appraiser has to do 3 times as much work now, plus the report goes through a “3rd party” review before going to the underwriter) AND they get to pay extra. The appraiser, as mentioned above, gets to do more work and generally receives less than they used to for the same report because the 3rd party now gets their cut.

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This is just one little picture of the idiotic “changes” we have seen implemented by the regulators over the last few years. Why wouldn’t we believe that it’s all going to come crashing down.
And with the way things have been progressing I myself would look forward to a little revelation, full disclosure and starting a new fresh cycle!

About The Author
Theresa Furzland
- As an NAMP® staff writer, Theresa Furzland serves as an instructor for Loan Processor University ( Theresa has 25+ years of experience ranging from origination, processing, closing and post closing. She is currently a producing Branch Manager for LendSmart Mortgage, LLC and own and operate Willow Wood Mortgage Services, Inc. If you're interested in becoming a writer for NAMP®, please email us at:


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.