18
OCT
2017
housing-market-survey-time-to-buy-a-home-fannie-mae

Is Now a Good Time To Buy a Home?

You bet your sweet bippy it is* if you can find one. That’s according to the results of the most recent Fannie Mae Homebuyer Sentiment survey. The swaying factor is the result of current renters saying they believe that now is a good time to buy a home. This is happening despite...
17
OCT
2017
reg-tech-regtech-on-horizon

With More FinTech – Along Comes RegTech

With the increase of FinTech, technology to support financial service operations, comes RegTech, the technology to address and monitor regulatory compliance. Today, we have the makings of digital mortgages, consisting of online applications, verifications, approvals and closing;...
16
OCT
2017
one-fee-policy-coverage-title-simultaneous

Finally Some Bipartisanship on Capitol Hill

I guess it took some strong lobbying. But, now two Congressman, Rep. French Hill, (R/AK) and Ruben Kihuen (D/NV) want to improve upon how title insurance premium costs are disclosed under TRID. This has been a sticking point with lenders and title companies since the TRID rules...
13
OCT
2017
digital-mortgage-fraud-transactions

Mortgage Fraud in the New Digital Age

It’s estimated that in 2016, almost $20 million in wire transfers, like down payments and settlement funds, from bona fide real estate sale transactions were diverted to criminal’s bank accounts. This was accomplished by manipulating legitimate email accounts. How much more may...
12
OCT
2017
virtual-assistants-loan-originators-mortgage-siri-alexa-cortana

Want a Mortgage? Just Ask

Companies and consumers are increasing their use of voice-activated virtual assistants. Most companies today have interactive call answering systems that will guide a caller to their desired destination or provide static data. Banks offer services for their customers to call in...
11
OCT
2017
home-builders-consider-pros-cons-home-mortgage-interest-rate-deduction

A Change of Heart on Mortgage Interest Deduction

For as long as we can remember, everyone involved in home building, selling, and financing have strongly supported the home mortgage interest tax deduction. People financing their home could reduce their federal income tax by a large amount, if not all, of the interest they paid...
10
OCT
2017
CFPB-independent-non-bank-lenders-seek-exemption

CFPB, Let My People Go

As independent non-bank lenders take the lead away from traditional banks in originating new mortgage business, they also want to be excluded from direct CFPB supervision. They are not the only ones. Small to mid-size non-bank mortgage lenders, like some community banks and...
09
OCT
2017
false-claims-act-see-hear-speak-no-evil-monkeys-doj-

Are You Safe From an FCA Action?

Ask lenders – and just about all will tell you they do their business the right way. If so, they shouldn’t need to worry about any action from the Department of Justice (DOJ) under the False Claims Act (FCA). Right? With everyone supposedly doing business the right way, why...
06
OCT
2017
with-great-power-comes-great-responsibility-non-bank-lenders-number one

And It’s Non-Bank Lenders By a Nose

It’s official (as if we didn’t know), according to the 2016 HMDA data, non-bank lenders made more mortgage loans than their bank counterparts. For the first time since way back in 1995, the non-depository lending institutions closed more purchase and refinance mortgage loan...
05
OCT
2017
irs-data-vault-verify-income-employment

IRS To Validate Income and Identity?

What do Equifax and the IRS have in common? They both house tons of consumer personal data. Equifax got hacked. Could the same happen to the IRS? Some regulators are saying no and pushing for the IRS to get more heavily involved in the data verification game. Rep. Patrick McHenry...