27
APR
2017
lend-like-your-kids-live-here-take-your-kid-to-work-child

Hooray! It’s Take Your Kids to Work Day

Okay, who thought it would be a good idea to bring their kids to work?  It seems a little counterproductive to me. Maybe, they thought it was a great opportunity for parents to bond with their children while the kids got a chance to see what the heck mom and dad did all day;...
26
APR
2017
unsettled-pattern-mortgage-originations-weather-chart

Unsettled Pattern is the Forecast for Mortgage Originations

It seems like forecasting the level of new loan mortgage originations is getting like forecasting the weather. There are a number of pretty good indicators. But, things keep changing which makes it difficult to get it just right. Initially, the outlook was for rising interest...
25
APR
2017
Are-costs-to-originate-a-mortgage-really-going-up-arrow-up-sky

Has the Cost To Originate a Loan Really Increased?

I don’t think so. I’ll bet (if I were a betting man) that if we carefully analyzed the process to originate a new loan, we would find the cost to originate a loan has actually declined. What with online applications and the technology for consumer communication, information...
24
APR
2017
Look-Forward-dont-look-back

Don’t Manage by Looking in the Rearview Mirror

It’s important to learn from history. So, we can avoid making the same mistakes, while capitalizing on what we did right. However, to remain successful, we can’t rest on what we did. We need to have a clear vision of what needs to be done in the future to stay successful. It’s...
21
APR
2017
VA-fees-unchanged-since 1054-ford

Time For Some VA Fee Changes?

The allowable fees and charges that a lender can charge a veteran are somewhat limited and they haven’t been changed since 1954. Think about it. What hasn’t changed since 1954? Wow, that’s a long time… Presently, the VA allows specific third party charges which are required in...
20
APR
2017

QC Starts with a Quality Culture

With the emphasis being placed on increasing loan production and capturing more business, it’s extremely important that lenders to not forget about loan quality and compliance. Maybe I’m preaching to the choir here. But, if we’ve learned anything from the 2008 debacle, it’s that...
19
APR
2017

Is Skynet Coming to Mortgage Banking?

“We’re creating software robots to mimic what humans do [in mortgage lending]”, said Mark Davison, a partner at ISG, a technology research and advisory firm specializing in Robotic Process Automation (RPA). Mortgage lending is just now moving into the digital age and it appears...
18
APR
2017
go-digital-LO-west-young-man-mike-vitali-horace-greeley

Everyone is Going Digital

It’s not just Rocket Mortgage or Blink, many other mortgage lenders are launching systems for taking digital mortgage applications and handling loan closings. Seems everyone’s gotten the word. To service today’s consumer, you must have digital capabilities. It’s not just for the...
17
APR
2017
CFPB-Rescue-HMDA-changes

CFPB to the Rescue

Revisions to the Revised HMDA Rules With mortgage lenders just getting over the challenges created from the QM/ATR rules and TRID, they’re now faced with a new hill to climb; HMDA. CFPB just released a new proposal as Technical Corrections and Clarifying Amendments to HMDA. These...
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...