Want A New Job? CFPB Is Hiring!
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I’m in!!! Damn the double-secret probation! Me and my whole office will join you for the Toga party, just let us know where and when … we’ll go to the Food King and get some meat to grill. Charlie
So, as usual, you guys try to get everybody riled up with little or no real information. You pick a couple of positions that you seem to believe might not be worth the salary offered. You offer a dictionary description of one job instead of an actual job description. And, you repeatedly reference government benefits without actually telling us what they are. You know there was a time in this country when “benefits” were considered a good thing, but I guess no longer. Jealousy, anyone?
TOGA, TOGA, TOGA, TOGA, TOGA, TOGA!!!!!!
I don’t care if we are on double secret probation (whatever that is) with the CFPB!!!!
iToga
Come meet us in Vegas for Super Bowl…
Mr. Brian and Mr. Frank, a toga party marketing seminar sounds delightful. I’ll wear my finest toga and leather sandals.
Love, Russ
I’m South of Seattle in beautiful Parkland, WA and would love to toga with you!
Putting in app. with CFPB. See ya sucka!!!
j/k
If you wanted to have a marketing toga party in Phoenix, I’m in!
It’s way past time for the tree of liberty to be watered with the blood of our govt. tyrants.
Those CFPB jobs are open only to US citizens. You Mars, Venus and Moon folks are not eligible. Live long and prosper.
Don’t hate the manufactured home lenders. It is 60% of our portfolio at AFR Mortgage and there is a very low default rate. If anyone is looking for a manufactured home lender, feel free to email me at shoff@afrmortgage.com and I can hook it up.
I am down for a toga party in Seattle!
I just wanted to say that I will be going on the CFPB website to see if there is something for me. You deride it but I think you have gotten it wrong. If you think that there was no abuse that needs to be prevented in the future, you have not been paying attention. How many people got neg ams who didn’t really understand what they were signing? How much money did the industry including originators make by putting people into these loans? What about other banking services? You could find a worse way to make a living.
Certainly there was some abuse, and worse yet, some incompetency. Like in the guys who created these programs in the first place. Neg am and every other banned loan had it’s place. The problem was the extremes to which these programs were taken and the combination with EZ Doc and high LTV. There are a few ways to deal with this. Getting rid of ALL the programs would create a steep decline in the housing market…wait a minute..didn’t tthat just happen? We need soem forward as opposed top retrograde thinking. Perhaps some of us could provide this? I’m off to the website too…
TOGA Party in Seattle, im in!! TOGA TOGA TOGA
If the mission of the CFPB is to protect the consumer, than the entire dynamic of AMCs should be exposed. The actual dispersement of appraisal fees on the new Hud-1 would be a start. However, it is important to emphasize that when the HVCC was implemented by Cuomo, he worked for an AMC (AMCO) and banks profited. This is unlikely due to the political hipocracy but the omnibud guy can expect to hear from me on a regular basis concerning this. Make him work!
Great job today, gentlemen. And sure we’ll see you again when you come up here to the Seattle area.
A trailer hasn’t been a trailer since 1978 when the HUD standards went in to effect and they had to be built to the current codes, the same as a stick built home. It irritates the heck out of me that the online sites still classify them as trailers and believe me when I say, many of these so called trailers are better built and more secure than many stick built homes. Be kind to trailer trash, many people you know and love live in a “trailer” because it is an affordable housing alternative. I just wish they would start financing them again because there are people who need to sell them and can’t because no one will finance them. They got a bad rap and it has hurt my area and my clientele immensely.
I finance manufactured homes, below are the guidelines to get financed through American Financial Resources…Below are the guidelines for financing a manufactured home.
• Needs to be built after 1976
• Engineer Certificate certifying the foundation complies
with HUD Guidelines: Must be site specific and contain the engineer’s or registered architect’s signature, deal and/or state/cert#. In states where seals are issued the seal must be on the cert also certify: meets soil conditions
• Foundations and footings are appropriate to unit
• HUD tags and Serial Numbers are listed on appraisal and a
picture is provided
• Wheels, axels and towing hitches are removed
• Permanently connected to a public sewer/septic tank and
other utilities that meet local, state, and federal requirements.
• Not zoned commercial or business use or located in the trailer park
• Any structural modifications to the existing home must
be approved by a licensed professional engineer or local, state, or federal authority.
• Property must not have been installed or occupied previously at another
location.
• Property must be classified and taxed as real estate.
• Property cannot be located in a flood zone.
• Property has a floor area of at least 400 square feet
• Do you have the Alta 7? If not, condition for it.
• Space beneath home must be property enclosed.
Hi Shannon;
Saw your great post on TBWS site regarding manufactured homes . My goal is to assist others in helping themselves with knowledge. Thank you for your post.
Best regards,
Michele Schwartz
Guys, you do a great job with TBWS. But folks in our industry complaining about what someone is paid (even in government) is a little hypocritical.
David: how is mentioning–or even complaining about–about an offered government salary even remotely hypocritical? Yes, we as loan originators (or any kinds of sales people) are often paid a lot of money, but what we earn is tied ONLY to our performance, and nothing else. Someone working in any salaried position gets paid as long as they show up for work. Those of us who have honed our sales chops and earn a good income have been willing to take the risk of a variable, performance-dependent income. And really: a “Financial Empowerment Program Specialist” getting paid more (up to $187k) than an elected representative ($176k)? Really? That’s messed up.
What about increased SRP from loans that favor the bank not the borrower? Please pay attention to what you do. By the way, this agency will go after the execs who made these programs as well as Loan Officers. Perhaps you are just afraid of someone who understands loans looking over your shoulder.
Joe you nailed it…our income is strictly performance driven, and working for the CFPB you get paid regardless…it is very frustrating to see that employees of the CFPB get paid that much for a low end job…what do you think the upper management are getting paid? Too much of course, Not to mention we are paying for this with our tax dollars, it is within our rights and ever more our responsibility to let all know when we see something out of balance. This CFPB is WAY out of balance.
Really? I think paying any of our elected (so-called) representatives is messed-up!
it’s a paradoxical and cynical piece to show the hypocritical nature of those in charge. take it with a grain of salt.
I applied for a position with the cfpb…but I dont think they are hiring us trouble making loan officers
I was obviously qualified, and didnt even get a call for an interview. I think they are looking to hire insiders or people who think our industry is full of tricksters who must be stopped. IF the bureau was used for good, not evil, it could be a great tool. I was hoping to get in there, roll up my sleeves and actually HELP consumers. So…I will stick with my day job and help my customers one at a time…and continue to be proud to say that I am a loan officer!
Manufactured homes are far more than just football in on people. They are assembled on site Ann all manufactured according to ISO standards. Which is much higher standard than the majority of the stick built homes. I’ve funded severalillion dollaranufactured homes.
Rick: manufactured homes are built in a factory, many of them are in southern california…you can take a free tour to see them being built. MODULAR HOMES are finished on site. They are 2/3 complete when they arrive to the location and completed there. Only modular homes are considered a stick built home.
Manufactured homes can have a permanent foundation and be considered real property, but that doesn’t change that they are built OFF SITE.
regarding Freddie Mac blog yesterday. I have had several Freddie HARP loans declined with 690 scores, 25% DTI and 95% LTV. Called NationStar to complain and was advised that they have had a rash of turndowns. It seems that Freddie has tweaked the LP underwriting in the last 2 weeks. Your Blog seems to point to a possible reason. I called Senator Isakson’s office to bring it to their attention and was told others have called with the same problem. If enough people call we will see action on this. Congress and the Presidential office should not tolerate this circumvention of the HARP program.
The sad fact about CFPB is that they will hire 1500 people – growing government – and receive complaints that would otherwise have gone to existing agencies. The majority of the complaints will be swiftly settled with only a handful that are legitimately something you’d need yet another agency for.
WASTING taxpayer money!
We’ll see if they are any good at investigating mortgage fraud complaints. Has anyone else noticed that the “FBI Investigates Mortgage Fraud” is no longer in the closing documents?
Still a ton of waste for a consolidated complaint hotline. I don’t think they’ll be hiring anyone involved in the mortgage origination business. If they did, they’d have to revamp their proposed Mimosa/Sassifras form completely.
Wasting taxpayer money is what they do best! How many agencies do we really need?
Leo, you hit the nail on the head!
Adopting the Fair tax will go a long way toward controling our government.
For God and Country, Go Fair Tax
FNMA and Freddie are/were filled with political hacks to satisfy Members of Congress need to keep their former staff members and lobbyists employed. The hacks can now move to CFPB and “regulate” the industry they once used to feed their financial habit with benefits.
is anyone really surprised that they are filling the system with leeches to suck the blood out of those of us who actually produce goods and services in order to make our living? This is the modern definition of the relationship between government and industry.
I normally don’t like to puke before breakfast. Really? Omnibud 230k? This Bud is for you! HURL….
Why was that crack about “Newt Gingrich” in today’s video? Don’t we have enough trouble with Mitt Romney’s lies about the guy?
Toga! Toga! When are you coming to Michigan?
Seriously? Those that make our life really really hard are getting paid that much? I’ve been in the business for 25+ years, been through highs and lows, and this is the worst!!! What is wrong with this picture? Frank? Dodd? Daddy get’ur gun!
“Daddy get ‘ur gun”? Wow. Stay classy, Anna.
“The Consumer Financial Protection Bureau is looking for rigorous, innovative thinkers to shape policy and advance our consumer protection mission. We will be hiring dedicated, talented public servants in a wide array of areas and with many different levels of experience.” I wouldn’t last two minutes in the CFPB offices as I do not subscribe to their “consumer protection mission” nor consider myself a “public servant”. My first complaint filed to the CFPB was that their director was not appointed per the requirements of Dodd-Frank. The CFPB is a scary outfit – no oversight or checks and balances, just a free for all on private industry – did anyone catch the snippet that the CFPB wants to come “face-to-face with originators”? It will be interesting to see if they investigate the fraud reports that the FBI considers “too small”. If it’s like everything else, they’ll take the word of some company attorney that nothing wrong was done even though there is a boatload of evidence to the contrary.
Yes I would move to DC for a good paying job Like That.
Also guys, comment made about Modular Homes being classified as Mobile homes. I think because the axles and springs are left attached and the wheels are left to be used again is the reason. I pursued this exact answer of why so classified and had 5 different answers.
1. axles are still attached
2. wheels are left to be reused
3 they are just jacked up on supports and strapped down only that can
be removed to move the home.
4. it is transported as two halves and then bolted together( but numbers 1,2 and 5 answers were never used in the same sentence as part of the answer
5. because it is not anchored by bolts to permanent foundations that would support it, still makes it mobile.
Which I must Agree with at this point.
You need to do a little more investigation. Modular homes are not ‘mobile’. They are secured to a foundation in much the same way as stick built. There are no wheels or axles permanently attached. A great product treated like stick built.
Dan C
I posted basically the same thing earlier but it didn’t get to the comment sections. The points you brought up are nothing new but get totally misconstrued in the industry.
I know very well. They are not attached to a foundation, they need to get attached to a foundation to get fha financing.
If I had a job at the CFPB paying me that much, I would surely be extra careful to spend my quality time thoroughly investigating all of those complaints from borrowers. You know, the ones Barney and Co. said were being taken advantage of by those awful brokers and loan officers. After all, the job you don’t finish today. . .is the job you have tomorrow! (An actual Union job-holder’s mantra!) Who wants to move to Washington, DC?
Think you guys hit it on all cylinders today. Congrats. Go do your schmiel for an hour then get drunk as hell (but dont drive). However, you did sound a little negative (even while trying to pump it up on the positive side), when it came to trailer trash. Just saying, I own a double wide 91 model, and a stickbuilt 2005 model, and I have seen (as recently as last week) mobile/modular homes , and I’ll be the first to say that there are in fact many new mobile homes that are nicer, sweeter, and cheaper than their stick/sight built counterparts. Old trailers and trailers parks are getting a bad rap, but did you know, there’s some big money in owning a trailer park these days?
Yes….get back up here in Seattle!!!
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