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Mortgage Loan Quality

Fraud Has A Whole New Meaning In Digital Lending

Yesterday, I discussed the impact of today’s “purchase market” on fraud. Today, I want to explore the impact of digital. Because…  It’s a digital world. A few months ago, we learned that one of the nation’s three credit repositories, Equifax, had been hacked. This hack provided the cyber thieves with valuable personal information on about 145 million consumers. The thieves…

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fraud-purchase-market-mortgage
Mortgage Loan Quality

Fraud Has A Whole New Meaning

Fraud has always been a problem for mortgage lenders, but now it’s starting to really get interesting, and expensive. 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. In the past, instances of fraud mainly centered on the consumer trying to get away…

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fannie-mae-home-purchase-sentiment-index
Mortgage Industry Trends

Some Good News on Housing? Maybe…

Everyone is always looking for some positive signs when it comes to business and the economy; mortgage lenders are no different. So, let’s consider the recent results of the Fannie Home Purchase Sentiment survey as a glass half full. According to the Home Purchase Sentiment Index (HPSI), the net share of consumers who think that “now is a good time…

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millennials-enter-housing-market
Mortgage Industry Trends

Millennials Coming of Age in Housing

Another year, another year older for the Millennial generation. They are now in their prime home-buying years and finally coming to market. According to recent activity, 45% of the purchase loans were made to Millennials versus 43% in December. Conversely, loans made to all other generations declined during the same period from 57% to 55. Millennials buying homes is a…

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tax man lien cometh credit repoorting
Mortgage Industry Trends

The Tax Lien Removal Cometh

The dreaded tax filing deadline is fast approaching and this year it also serves as the date that the 3 major repositories will drop the reporting of outstanding tax liens from their credit reporting. As of April 16th, outstanding tax liens against consumers will no longer appear on a credit report pulled by a lender to make a mortgage loan,…

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