Jack Guttentag

Contributor

He is Jack M. Guttentag, now Professor of Finance Emeritus, formerly Jacob Safra Professor of International Banking, at the Wharton School of the University of Pennsylvania. Earlier he was Chief of the Domestic Research Division of the Federal Reserve Bank of New York, on the senior staff of the National Bureau of Economic Research, and managing editor of both the Journal of Finance (1974-77) and the Housing Finance Review (1983-89). Professor Guttentag has been a student of the home loan market for many years, and his bibliography of scholarly articles, books and monographs is large and diverse. He has also been an active practitioner, serving as a consultant to many government agencies and private financial institutions, including the Department of Housing and Urban Development, USAID, Freddie Mac, Citicorp, Dominion Bancshares, the World Bank, J.P. Morgan Securities, the New Zealand Bankers Association, and many others. In addition, he has been a director of the Teachers Insurance and Annuity Association, Federal Home Loan Bank of Pittsburgh, Guild Mortgage Investments, and First Federal Savings and Loan Association of Rochester. Throughout his career, Professor Guttentag has been concerned with the difficulties faced by consumers in the home loan market. In 1985 he joined with a colleague at Wharton to found GHR Systems, Inc. which has developed a nationwide electronic network that lenders can use to deliver complex mortgage information quickly to loan-officer employees, to mortgage brokers, and to consumers using the internet. The company also provides easy-to-use tools that enable loan officers to act as consultants to borrowers during the origination process, while speeding up the process. Some clients of GHR Systems are Washington Mutual, Charter One Mortgage, Homecomings Financial, Radian Guaranty, Cendant Mortgage and others. In 1997 Professor Guttentag began to phase out his teaching at Wharton in order to focus his efforts more fully toward helping consumers navigate the home loan market effectively. He began a weekly column on mortgages that is nationally syndicated, and began the development of his web site, www.mtgprofessor.com. The major purpose of both is to help consumers make better decisions. In 2000, Professor Guttentag in collaboration with several mortgage brokers developed Upfront Mortgage Brokers (UMBs). Brokers who agree to do business in accordance with UMB principles, and who display these principles prominently on their web sites, are listed on his site for easy access by consumers. In 2006, Guttentag teamed up with Amerisave, an Upfront Mortgage Lender, to provide disclosure of the lender's wholesale mortgage prices and its markup to borrowers who access Amerisave through www.mtgprofessor.com. Guttentag monitors the site and guarantees the markup for consumers.

Front-loaded loans: bad for borrowers?

Some feel interest burden is a rip-off

Nov 23

Debunking refinance myths

False information keeps many from profiting

Nov 16

Dos and don'ts of mortgage shopping

Helpful tips on choosing loan, buying down rate

Nov 9

Mortgage shopper's dream come true

New tech initiative takes aim at lifestyle mistakes

Nov 2

Avoiding costly mortgage mistakes

Lenders could intervene, but many choose not to

Oct 26

Savvy borrowers know their PNPs

Being on wrong side of notch point can be costly

Oct 19

Why fewer Danes default on loans

Part 2: Denmark escapes mortgage meltdown

Oct 12

A model mortgage market

Part 1: Denmark escapes mortgage meltdown

Oct 5

Loan shoppers: their own worst enemy?

Many clueless when it comes to mortgage disclosures

Sep 28

Mortgage reform targets excessive costs

Many borrowers duped into taking loans with higher rates

Sep 21

New tool simplifies mortgage shopping

So why is it absent from lending reforms?

Sep 14

APR not best gauge of mortgage costs

Why basing decision on 30-year term is misleading

Sep 4

Lender policy key to mortgage shopping

Truth in Lending disclosures may be of little use

Aug 31

Fed flunks consumer protection

Truth in Lending reforms need new overseer

Aug 24

Many refis offer right of rescission

Despite perk, few actually take advantage

Aug 17

Avoiding mortgage rate-lock problems

10 questions borrowers should ask their lender

Aug 10

Consumer protection plan worries some

Mortgage disclosures, prepayment penalties eyed

Aug 3

Appraisal rules backfire in down market

Appraisal management companies blamed for undervaluation

Jul 27

New plan to jump-start loan mods

Web portal would centralize communication, break logjam

Jul 20

Savvy buyers save on settlement costs

Does you lender guarantee fixed-dollar fees?

Jul 13

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