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.

'Wind-down': a bailout alternative

Part 2: Preventing another crisis

Apr 12

6 issues to steer financial reform

Part 1: Preventing another crisis

Apr 5

Avoid mortgage smoke and mirrors

Does your loan provider disclose yield spread premium?

Mar 29

Rash decisions hurting borrowers

Lower early-on payments can be painful in the long run

Mar 22

A lender's end to overages

Will new rules spur other banks to follow suit?

Mar 15

Preparing for payment shock

How ARM borrowers can time market to their advantage

Mar 8

Short-term vs. long-term loans

Part 2: Mortgage selection in post-crisis market

Mar 1

ARM loans: a risk worth taking?

Part 1: Mortgage selection in post-crisis market

Feb 22

Wanted: a loan to take into retirement

No perfect mortgage for borrowers whose income will drop

Feb 15

Finding value in loan assumptions

Mortgage insurance, length of ownership can reduce advantages

Feb 8

Reverse mortgage dangers debunked

Part 6: State of the 'reverse' market

Feb 1

Reverse mortgages: the next subprime?

Part 5: State of the 'reverse' market

Jan 25

Reverse mortgage shopping secrets

Part 4: State of the 'reverse' market

Jan 18

Reverse mortgage annuity options

Part 3: State of the 'reverse' market

Jan 11

The reverse mortgage 'ATM'

Part 2: State of the 'reverse' market

Jan 4

Reverse mortgages under pressure

Part 1: State of the 'reverse' market

Dec 28

Don't refi for the wrong reasons

Breakeven period should take no more than 4-5 years

Dec 21

Buying dilemma: job change matters

Self-employment isn't only factor affecting mortgage approval

Dec 14

New GFE to reshape mortgage ethics?

While improved, borrowers' final rate and points still unclear

Dec 7

Weeding out mortgage scoundrels

Rules impact borrower costs, dishonest lenders

Nov 30

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