14
APR
2017
Do-you-Know-your-Customer-millennials-baby-boomers

Do You Know Your Customer?

It’s important for any business to have a profile of the customers they serve. It’s no different in mortgage lending. Yes, it’s easy to think that a mortgage lender’s customer is obviously someone who is financing a home, but there’s a little more to it. That’s a little like...
12
APR
2017
Digital-mortgage-sandbox-rocket

Competing in the Digital Arena

I find it quite interesting to scan the daily headlines covering housing and mortgage lending. (I know, I gotta get a life!) Seriously, some recent headlines indicated: Mortgage rates tumble, but may head back up; Rates at 2017 low and may stay low; Application volume is down;...
11
APR
2017
macarthur-cfpb-reform-congressman

Local Congressman Defends Position on Consumer Protection

Here’s an excerpt from a recent response written by Congressman Tom MacArthur, R-3rd of Toms River, New Jersey, to a letter to the Editor of the Burlington County Times. There’s more going on in NJ than Bridgegate and the Sopranos. “I’m writing in response to a recent letter to...
10
APR
2017
blink-mortgage-digital-rocket

Brokers Go Digital

United Wholesale Mortgage (UWM), one of the nation’s leading wholesale mortgage lenders announced they now offer Brokers a completely digital platform for loan originations. Meet “Blink” (Borrower Link). According to a release by UWM, their new Blink system allows Brokers to...
07
APR
2017
Alt-A-loans-mortgage-pool-increase

More Room in the Deep End of a Shrinking Mortgage Pool

According to a recent forecast from Fannie Mae, the projections for mortgage loan originations for 2017 now stands at about $1.5 trillion. Don’t get too depressed, although down from the past few years, that’s still quite a bit of loan volume. And it could be more; especially if...
06
APR
2017
Insult-to-injury-cat-sitting-on-dog-whistle-blower

Talk About Adding Insult to Injury

Did you hear the one about the Bank who had to pay big bucks to the employee who blew the whistle on suspected illegal behavior? Wells Fargo has been ordered to rehire and pay a former employee $5.4 million dollars in back pay, legal fees, and compensatory damages after firing...
05
APR
2017
Sleep-well-lenders-beach-tent-bed

What Keeps Lenders Up at Night?

With a shift in the mortgage market from refinances to purchase loans, what are the main concerns of most mortgage lenders? The main area over the past few years, when rates were low, was the increasing regulations that hampered lending and definitely increased costs. Not so...
04
APR
2017
low-down-payments-mortgage

What’s The Low Down on Low Down Loans?

    In today’s housing market, with its shortage of homes for sale, will sellers look poorly at a buyer making an offer tied to obtaining a mortgage requiring a low down payment? Not so, according to a recent survey done by Redfin of more than 800 of its real estate...
03
APR
2017
game-has-changed-play-different-robot-man-hand-crystal

The Game Has Changed. Are You Prepared to Play Different?

I just returned from speaking at the ABA Real Estate Lending Conference in Orlando. It was a great conference and the Hyatt Regency was a great venue. I only regret I couldn’t spend more time in Orlando. The conference offered a myriad of information, products, and services...
31
MAR
2017
Hispanic-housing-Market

Where Will You Get New Business?

According to recent MBA forecasts, loan originations will drop in 2017 by about 15%. This shouldn’t be a big surprise. This decline is mainly due to a drastic decrease in refinances, resulting from the gradual rise in rates, and a potential for a rate spike, if the Fed...