16
FEB
2018
are-you-prepared-for-2018-mortgage-interest-rate-increases

Higher Rates Impact On Home Sales

2018 and beyond will be a home purchase market. What might happen to home sales as rates go higher? Refinances are drying up. But, will home sales and related financing opportunities go the same route when rates jump? “Not necessarily,” says a Redfin, a national Real Estate firm....
15
FEB
2018
legal-immigrants-need-mortgages-too

Do You Have Products to Finance Legal Immigrants?

There is a major dialogue going on in Congress and the country surrounding what to do with Deferred Action for Childhood Arrivals (DACA), but what about other immigrants who arrive legally? Do they have full access to all we have to offer? They face major challenges in tasks we...
14
FEB
2018
churning-ginnie-mae-lenders-gnma

VA Rapid Refis Cause Trouble for Some Lenders

What’s an ‘Outlier’? An ‘Outlier’ is considered a person or thing differing from all other members of a particular group. GNMA considers nine major mortgage lenders as ‘outliers’ because Ginnie believes that the activity of these lenders differs from others. Ginnie Mae believes...
13
FEB
2018
fraud-defects-misrepresentations-index-loan-mortgage

Loan Defects, Fraud, and Misreps on the Rise

Look out, things are starting to slip. With the home mortgage market turning from refi’s to purchases, rates rising, and a housing shortage along comes an increase in loan defects, fraud, and misrepresentations. The good news, according to the most recent First American Financial...
12
FEB
2018
vantagescore-FICO-credit-scoring-

Will Alternative Credit Scoring Dilute Loan Quality?

The FICO credit score was introduced many years ago and touted as the end-all for determining a prospective borrower’s creditworthiness. The better the score, the more likely the borrower would repay the debt. The lower the score, look out, higher potential for default. Simple,...
09
FEB
2018
Broken-reesolutions-new-year-home-buying

A New Year’s Resolution That Should Be Broken

Over a month after we all sat down and tried to improve our lives through our New Year’s resolutions, here is one that came up this year that is a little disheartening. Hopefully, this is a resolution that will not be kept. According to a Debt.com report, buying a home is not at...
08
FEB
2018
trust-corporate-culture

Mary. Mary, How Does Your Garden Grow?

We all sang and heard the childhood nursery rhyme. But, Mary really never reveals how she makes her garden grow. Maybe, it’s her secret to success. One she doesn’t want to share with her competition. Guess we’ll never know. At the MBA’s Independent Mortgage Bankers Conference in...
07
FEB
2018
CFPB-CID-civil-investigative-demand

CFPB’s CIDs. Don’t Just Complain; Do Something

In case you haven’t heard, there are some changes going on down at the CFPB.  The new Administration is trying to foster a more business-friendly atmosphere while maintaining the CFPB’s mission of consumer protection. Can it be done? Only time will tell. The conversation, or...
06
FEB
2018
wire-fraud-money-dark-web-net

Are You Wired For Fraud?

Fraud has always been a problem for mortgage lenders. But, now it’s starting to really get interesting and expensive. In the past, instances of fraud mainly centered around the consumer trying to get away with providing misrepresented information to get approved for their loan....
05
FEB
2018
philadelphia-eagles-world-champions-super-bowl-2018-52-LLI

Planning Does Make Perfect

Excuse me if I take a little detour from business to congratulate my hometown Eagles for winning what may be considered the biggest game in their storied franchise history; the Super Bowl. I can finally say the Philadelphia Eagles are World Champions. What a team, what a game,...