At ABBA First Mortgage, Inc. we are busy preparing for the upcoming mortgage rule changes in 2010.  Needless to say, many other mortgage professionals around the country are busy doing the same as well.  Our friend and colleague Rhonda Porter shared this poem today.  In the spirit of the season, I thought it was great and worth sharing with all of you too!

T’was the week before Christmas

When all through the lands,

LO’s and Closers were wringing their hands.

RESPA Changes are coming,

They all started to worry,

We’d better get trained, and trained in a hurry!

We all kept on hoping

There would be a delay.

But HUD said, “No Way,” it’s all here to stay.

“We love our new HUD

And our new GFE,

Don’t fret, don’t worry, it’s as simple as can be.”

We all shook our heads,

Threw our hands to the sky.

What were you smoking?  You must have been high!

You took a one page doc

And changed it to three.

Easier?  More simple?  How can that be?

The Regs don’t match up,

So now what do we do?

HUD says, “No comment, It’s all up to you.”

No info on TILA,

HMDA, REG B.

We are totally screwed, why can’t they see??

In a time when some borrowers

Think lenders are scary,

You’ve given 3 pages to make them more wary.

This doesn’t make sense,

Not one little bit.

We are all trying hard to not throw a fit.

So we all do our best

To put borrowers at ease.

But make more reform, please, please, please!

Please bring someone in

Who knows what to do.

What is best for both borrowers AND lenders too.

We are all still waiting,

Though not holding our breath

And hoping the government doesn’t “Reg” us to death.

So on this week before Christmas,

I’d like to wish you

Good luck with RESPA, I need it too!

A special thank you to Rhonda Porter at The Mortgage Porter for her permission to re-post this!  If you are on Twitter, you can follow Rhonda by clicking here.

ABBA First Mortgage, Inc. would like to wish you a very Merry Christmas and Happy New Year.

Thank you for the opportunity to help you obtain your mortgage financing objectives this year.  The trust that you place in us every day is not something that we take for granted!  We look forward to serving all of your mortgage needs in 2010.

- The ABBA First Mortgage Team

This entry was posted on Wednesday, December 23rd, 2009 at 11:55 am and is filed under Consumer Information, Corporate News, Market Information. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.