12
JAN
2017
mortgage-performance-increases

Are Mortgage Loans Really Performing Better?

According to the Office of the Comptroller of the Currency (OCC), borrowers are doing a much better job of keeping their mortgages current and staying away from foreclosure. That’s great news for the banks that participated in the OCC survey and that service these loans. The...
11
JAN
2017
upset-football-national-championship-clemson-alabama-trump-victory

FHA Premium Cut. Could We Have Another Upset?

If you’re football fan, you saw a great college football game that decided the National Champion on Monday night. Alabama is considered to be the best college football team in the nation. Some believe they are good enough to compete with some pro teams. Don’t tell that to...
10
JAN
2017
happy-housing-recovery-market

Housing Market in 2017 – Good, Bad, Ugly

The New Year is starting out strong with housing having regained just about all its value lost in the 2008 crash. According to Zillow’s data, the total value of the U.S. housing stock grew to $29.6 trillion, a record high. That’s a $1.6 trillion increase in home value...
06
JAN
2017
purchase-market-ahead

Did You Ever Compete In A Purchase Market?

It’s a new year, offering a new beginning with new opportunities. By all accounts, 2017 will bring in the new purchase market and ring out the old refinances. With that, things will definitely change. New business will now come from Realtors and Builders. They need to be serviced...
05
JAN
2017
pre-show-quality-control-check-mariah-carey

Don’t Gamble on Quality

Once again we witness how important it is to do a quality check before going live. Just ask Mariah Carey who was all dressed up (or not) on New Year’s Eve with nowhere to go. She was totally embarrassed and mortified by a poor performance resulting from problems she encountered...
04
JAN
2017
doj-rings-out-old-year-auld-land-syne

DOJ Rings Out the Old Year to a Familiar Tune.

And it ain’t Auld Lang Syne. The Department of Justice (DOJ) isn’t quite finished yet. They recently settled with Troy, Michigan lender United Shore Financial Services (USFS) to the tune of $48 million. This may be music to their ears, but surely not to United Shore’s. It is...
03
JAN
2017
automatic-verifications-day-1-certainty

Will Automated Verifications Reduce Defects?

With rates increasing, loan refinancing decreasing, and fewer affordable homes on the market, lenders may face some challenges in 2017 to generate business. Challenges that can be overcome with an eye toward purchase business, an expansion of products available for home...
30
DEC
2016
new-year-ahead

What’s Your Plan for 2017?

With the recent election, rising rates, improving the economy, more job opportunities, and wage growth, things could be looking up for housing and mortgage lending in 2017. Then again…maybe not. It all depends to which economist or so-called expert you listen. Here are some...
29
DEC
2016
it-wont-last-forever

We Knew It Wouldn’t Last Forever

  We all knew that those extremely low mortgage rates couldn’t go on indefinitely. The time has come for rates to rise but it appears they may not have such a devastating effect on the housing market. Although forecasts for 2017 and 2018 are being adjusted down, the decrease...
28
DEC
2016
no-action-policy-cfpb

ICYMI – CFPB Introduces the “No Action Policy”

It sounds a little strange. A policy created for no action. It outlines what companies must do to determine if CFPB will not take, or is not contemplating taking, supervisory or regulatory action pertaining to a specific financial product to be offered to consumers (No Action.)...