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.

Preventing another bubble meltdown

Some see Federal Reserve unfit as regulator

Jul 6

Secrets to saving money on mortgages

Some say extra payments trump refi to lower rate

Jun 29

Default or family: Which comes first?

Few options remain as savings dwindle

Jun 22

Mortgage repayment yields big returns

Compared to Treasurys and CDs, investment's a no-brainer

Jun 15

Helping borrowers who don't deserve it

How much is enough?

Jun 8

New bill gives prime borrowers a pass

Part 2: Poking holes in mortgage reform

Jun 1

Borrowers suffer disclosure overload

Part 1: Poking holes in mortgage reform

May 25

Better off renters

'NOHOs,' you know who you are

May 18

Loan mod: Go it alone?

Part 2: Nuts and bolts of mortgage modification

May 11

The loan mod to-do list

Part 1: Nuts and bolts of mortgage modification

May 4

An antidote for toxic assets

'Desecuritization' is best bet for financial security

Apr 27

'Home Affordable' loan mods offer hope

Part 3: Will Obama's mortgage plan work?

Apr 20

Many ineligible for 'Home Affordable' refis

Part 2: Will Obama's mortgage plan work?

Apr 13

Negative equity: a housing time bomb

Part 1: Will Obama's mortgage plan work?

Apr 6

The facts on FHA-insured loans

Rates, points may be more costly compared to other loans

Mar 30

Life insurance for financial firms

Part 2: Preventing another financial crisis

Mar 23

Capital requirements could hurt banks

Part 1: Preventing another financial crisis

Mar 16

Senior dilemma: lots of equity, little income

How older homeowners can stay current on mortgage, taxes

Mar 9

Licensing alone won't prevent bad loans

Mortgage disclosures fail borrowers at alarming rate

Mar 2

Many borrowers paying premium to refinance

Lender approval dependent on 5 key factors

Feb 23

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