By rchrisman@robchrisman.com

(Yes, I know that I have used this before, but it is worth an occasional repeat.)

One night at Cheers, Cliff Clavin said to his buddy, Norm Peterson:

"Well, ya see, Norm, it's like this. A herd of buffalo can only move as fast as the slowest buffalo. And when the herd is hunted, it is the slowest and weakest ones at the back that are killed first. This natural selection is good for the herd as a whole, because the general speed and health of the whole group keeps improving by the regular killing of the weakest members!"

He continued. "In much the same way, the human brain can only operate as fast as the slowest brain cells. Excessive intake of alcohol, as we know, kills brain cells. But naturally, it attacks the slowest and weakest brain cells first. In this way, regular consumption of beer eliminates the weaker brain cells, making the brain a faster and more efficient machine! That's why you always feel smarter after a few beers."

The Fed's latest report on household debt and credit finds US households owed $12.25 trillion at the end of the first quarter, up 1.1% from the end of 2015. Overall, housing debt represents about 72% of the total, while non-housing debt is the remaining 28%. If we wade into the weeds, mortgages (70%), student loans (11%), auto (9%), credit cards (6%) and home equity lines of credit (4%) are of interest. Speaking of debt, what do you think the CFPB would think of borrower's collateral in the form of naked photos?

iServe Residential Lending is back in the news, and as part of its branch support and passionate interest in the education of the Real Estate community, complimentary seminars are regularly offered throughout the U.S. Over the coming months, VA Financing Seminars will be held throughout key locations with a focus upon the many benefits of the VA home loan. Although iServe has a complete offering of loan products, it has taken the lead in assisting real estate professionals to better understand VA financing. iServe believes strongly that VA financing is the most "common-sense" product on the market today, and unfortunately the most misunderstood. The overall goal is to help our qualified military heroes secure their home front with a benefit they have so deservingly earned. The next seminars will be in Allentown PA, Scottsdale AZ, Chesapeake VA and Reno NV. For additional information on these or future seminars, new branches or originator opportunities, contact Allen Friedman for the Western U.S. (415-298-2500) or Rick Trew for the Eastern U.S. (619-869-0408).

Next week Mayer Brown is offering a free webinar11AM PDT on June 23 titled, "RESPA Enforcement: Lessons Learned, the PHH Appeal and What's Still on the Table": the ramifications of the PHH decision, lessons learned from recent CFPB enforcement cases, including Egbahli, discuss marketing and promotional activities still in the table, and CE credit." "RESPA enforcement has been among the CFPB's highest priorities since it opened its doors for business five years ago. This means lenders, homebuilders, realtors, title companies and other settlement service providers must ensure that their policies and procedures comply with this complicated act. Please join Phil Schulman as he discusses the impact of the PHH Corporation appeal pending before the US Circuit Court of Appeals, lessons learned from other recent RESPA enforcement cases, RESPA's impact on marketing and promotional activities, including advertising agreements, lead-generation arrangements, Internet advertising and event sponsorships." E-mail Jeremy Fegley with questions or to register, or click the link above.

Today HomeBridge Wholesale is conducting FNMA Homestyle and 203K Renovation training.

In Northern California, the CAMP Silicon Valley Chapter Officer's Installation event is on Friday, June 24th and will feature California Real Estate Commissioner Wayne Bell officiating the installation of Richard Wang as president and the incoming board members. The location is Maggiano's Little Italy Restaurant, Santana Row, San Jose. For more information, contact TJ Roberts at 408-802-8522.

Summer CAMP 2016 is California's premier destination event for the California mortgage industry. Held at Napa's Westin Verasa, Summer CAMP 2016, August 7th-10th, provides attendees the opportunity to meet exclusive vendors and learn from the best in the business.