22
NOV
2016
mortgage-lenders-create-jobs

Mortgage Lenders Doing Their Part for the Economy

Looking back, non-bank mortgage lenders increased hiring in September, adding 2200 full-time employees to their payrolls. That’s a big jump from the 900 additions in August.  These new employees were all part of an overall rise in September employment to 315,000 new jobs, the...
21
NOV
2016
refi-boom-over

Could It Be The End Of The Refi Boom?

According to all the so-called experts and conventional wisdom, interest rates are on the rise because Donald Trump’s was elected to be the next President of the United States. We’re already seeing a sharp decline in refinancing activity and a drop in home sales. This is all...
18
NOV
2016
trump-housing-market

The Trump Speculation Continues

Now that all the so called experts realize that they called the Presidential election all wrong they are backtracking trying to explain why. The Clinton supporters are all pointing blame at whoever they can think of that may have done something wrong to cause their loss. The...
17
NOV
2016
no-appraisal-freddie-mac

Freddie Announces Appraisal Free Mortgages

While Fannie Mae is talking about relieving lenders from some reps and warranties surrounding appraisals, Freddie is announced that it is doing away with the current traditional appraisal report. This is a bold move that leaves many up in arms. Not surprisingly, the biggest...
15
NOV
2016
dont-forget-the-realtors

Online Apps Are Nice But Don’t Forget The Realtors

Today, to reach and service more potential homebuyers, lenders need to embrace technology with the use of an online application process. Millennials expect it, and others are starting to get used to it. However, with refinancing opportunities dwindling lenders need to once again...
14
NOV
2016
fraud-self-employed-mortgage-lending

Do We Really Need to Get 4506Ts & Transcripts?

This is a question that I hear quite often when auditing loans. The argument is that “the guidelines” don’t require them. I say better be safe than sorry. The “guidelines” do say the lender is required to re-verify the income used to qualify the loan. How else can you re-verify...
11
NOV
2016
veterans-day-2016

Remembering Those Who Served and Sacrificed

Today is the day to step back from all the hustle and bustle of our everyday lives, to set aside our differences and come together for one common cause. Not to stand behind the new President-Elect, although we should. but to honor all those men and women who have served us and...
10
NOV
2016
mortgage-lenders-use-technology

Mortgage Lenders Doing Their Part for the Economy

Hiring among non-bank mortgage lenders increased in September, adding 2200 full-time employees to their payrolls. That’s a big jump from the 900 hires they added in August.  The additions were part of a rise in September employment to 315,000 new jobs, the highest increase since...
09
NOV
2016
loan-origination-costs

Lenders Lament Increases in Loan Origination Costs

By all accounts, it cost a lender more money to originate and close a mortgage loan today than it did 10 years ago. But then again, what doesn’t cost us more today than it did 10 years ago? The question is how much is the increase, why, and is it worth it?  That’s something each...
08
NOV
2016
non-bank-lending-takes-over-mortgage-market

Non-Banks Take Over The Mortgage Market

It’s official. Mark it down. In the third quarter of 2016, non-bank mortgage lenders originated more than half of the mortgages originated in the US. According to a WSJ report, they represented about 51.4% of the mortgage dollars lent as of the end of September. You’ve come a...