22
JUN
2017
big-data-technology-replaces-appraiser

Will Technology and Big Data Replace The Appraiser?

Advancements in technology have led many to question the continued role of the Loan Originator in the home financing process. Could it be that the appraiser is the one at risk? With databases constantly being fed information about property values, market conditions, area...
21
JUN
2017
predicting-mortgage-default-risk-like-weather-map

Predicting Mortgage Default Risk is Like Predicting the Weather

With all the sophisticated equipment and computer models forecasting, the weather is still not an exact science. It all depends on which way the wind blows. It seems that predicting mortgage default rates is about the same. According to recent reports on default risk: The...
20
JUN
2017
america-uncertainty-american=flag

Washington Fiddles While Markets Do a Slow Burn

The year started out with great anticipation. We had a new president, a new administration, with plans to improve the economy and get people working again. Even with talk of interest rate hikes, things were buzzing due to the potential for more jobs, wage growth, fewer...
19
JUN
2017
homeownership-to-buy-or-not-to-buy-hamelet

To Buy or Not To Buy; Is Home Ownership Worth It?

Some experts are now saying that buying a home may not be the great wealth builder it once was. They say it may be better to rent a place to live and invest the intended down payment in the stock market.  Yeah, like that’s such a sure bet. Who decided that buying a home was meant...
16
JUN
2017
home-equity-going-up-mortgage-rates-stay-down-house-on-cash

Home Equity Going Up; Mortgage Rates Stay Down

Okay, a little good news for a change. A CoreLogic report indicates that to date about 9 million current homeowners have regained positive home equity. Residential property owner’s still carrying negative equity is down to about 3.1 million. Some highlights of the report: 635 of...
15
JUN
2017
fannie-mae-issues-guidance-NCAP-changes

Fannie Issues Guidance on NCAP Changes

In case you didn’t know, NCAP is the National Consumer Assistance Plan. Under this plan, the 3 credit repositories will no longer report most civil judgments and tax liens, or unpaid medical bills less than 6 months. They say it’s because, in many cases, these issues are not...
14
JUN
2017
first-time-homebuyers-national-mortgage-risk-index

Are We Heading For Another Disaster?

With times being a little tough for many lenders, I hate to bring up anything negative about potentials for increased lending, but I will. Although there is a shortage of homes in the range that would be considered as affordable, there is currently quite a bit of activity from...
13
JUN
2017
follow-mba-lead-va-changes

VA Fee Update: MBA Steps Up For Members Again.

Previously, I mentioned that VA had issued a request for comments on proposals to update the fees a veteran could pay in connection with their mortgage. If you missed that one you can read all about it HERE. It’s about time. VA allowable fees haven’t been updated in over 60...
12
JUN
2017
MBA-report-shows-expenses-up-profits-down-newsboy

Expenses Up; Profits Down for Mortgage Lenders

It’s little surprise that the most recent MBA first quarter Performance Report reflects a major drop in net gains on loans sold by independent mortgage bankers and those operating as subsidiaries of chartered banks. Not such good news. According to the report: Net income declined...
09
JUN
2017
Danger-Will-Robinson-warning-defects-increasing

Warning, Will Robison, Defects are on the Rise!

Like the robot warning Will Robinson of danger on the old TV series “Lost in Space”, First American Financial Corp. is warning the industry that loan application defects are on the rise. The FAFC Loan Application Defect Index indicates defects rose in April for the fifth straight...