Hi Everyone,

Here are links to some of the topics we covered today.

Here’s that great NPR radio segment called “The Giant Pool of Money.”

More on Pay Option ARMs.

Barry was right; Kant did live in the 1700s.

Here’s the story about the Russian orphan who was sent back to the orphanage.

Here’s more info about the Sea King Co Assoc of Realtors Young Professionals Network.

Here’s reading material on AAMR (American Assoc of Mortgage Regulators) and their Guidelines on non-traditional lending.

DAY 2 Federal Law Review/Exam Prep

We heard a story about a bank offering a RESPA violation-type kickback to a builder.  Anonymous whistleblower complaints can be sent to:

Jim Siwek with the Seattle HUD Office of the Inspector General’s office.

There was a question on when the VA Funding Fee is waived. Here’s the answer.

There was a question about escrow reserve account tolerances under RESPA.  I didn’t find the answer here, in HUDs FAQ on the new RESPA changes…but I do see the answer here….$50.

We had a chat about professionals v. non-professionals v. emerging professionals (LOs are classified as an emerging profession.) Here’s an article I wrote on this subject back in 2007.

There was a question about how long derogatory information such as late payments stay on a person’s credit history. The answer is here.