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Mortgage Industry Trends

They Feel The Need for Speed

Do you remember, the line from Top Gun when Maverick turned to Goose and says, “I feel the need, the need for speed!”  It seems consumers may be feeling that way about the digital mortgage process. According to a recent J.D. Powers survey, 43% of all mortgage applications were done online. This was up from 28% a year ago; making…

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Mortgage Compliance

Just Another HMDA Alert

I hope by now everybody knows or should know, that CFPB has increased the reporting requirements for data under the Home Mortgage Disclosure Act (HMDA). Even some people outside of our mortgage lending arena have asked me about it. Go figure. Effective with loan action dates in 2018, lenders need to report 48 loan data elements to CFPB for each…

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infosec-protect-nppi-information-security
Mortgage Industry Trends

InfoSec – The New Buzzword. Do You Have It?

With the recent hacks of Equifax, Google, Target, and other major companies, everyone is becoming much more concerned about information security (InfoSec). It’s no different in mortgage lending. Lenders need to protect the vast amounts of a consumer’s non-public personal information (NPPI) that they collect during a loan process. It’s not easy when so much of the lending process is…

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