16
SEP
2016
hud-penalty-regions-bank-qc

HUD Settlement: Another One Bites the Dust

Same old song. This time to the tune of $52.4 million paid by Regions Financial Corporation of Birmingham, AL to HUD settling an action brought under the False Claims Act by the Department of Justice (DOJ). Under this settlement, Regions acknowledged it made and certified FHA...
15
SEP
2016
ubs-fined-two-billion-dollars

Why is QC Important? Here’s 2 Billion Reasons

UBS Real Estate Securities suffered a major setback recently when US District Judge, Kevin Castel, ruled on a breach of warranties by UBS in connection with securities backed by loans sold to U.S. Bank. In the suit, US Bank, acting as trustee, is suing UBS for damages of more...
14
SEP
2016
mortgage-predictions-lenders-jack-of-all-trades

More Predictions for the Future of Mortgage Lenders

Some now believe that independent mortgage lenders cannot survive strictly by originating mortgage loans. They believe such lenders need to expand their business lines to include other financial products desired and needed by consumers. (Survival) For years, large Banks have...
13
SEP
2016
national-mortgage-news-40th-anniversary-logo

The Only Thing Constant is Change

We hear this quite often but it is so true when it comes to the future of mortgage lending. Aside from the changes resulting from regulatory and agency requirements, the industry is evolving quickly into the digital age. What might the future bring? National Mortgage News, as...
12
SEP
2016
mortgage-default-rate

Are Low Mortgage Default Rates a Bad Sign?

According to the Urban Institute, a Washington DC based “think tank”, the current low mortgage default rates could indicate the current credit standards make it too difficult for many consumers to get their shot at the American Dream. (Mortgages) Why is it that lenders are the...
08
SEP
2016
put-some-skin-in-the-game-mortgage-lenders

It’s Good To Have Some Skin in the Game

Way too many years ago, when I first started in the mortgage business, the emphasis was still on loan originations. But, it was also on the loan’s ongoing performance. Lenders originated but most also serviced the loans they made. Independent Mortgage Lenders and some Banks...
07
SEP
2016
outsourcing-loan-originations-role-of-mortgage-broker

Outsourcing Loan Originations: The Role of the Mortgage Broker

Mortgage Brokers rose to prominence in the era of subprime lending. Their flexibility to react to the opportunities presented by this market provided both them and many lenders with a new line of business, and profits. Since then, the Mortgage Broker has become a staple in the...
06
SEP
2016
low-down-payments-mortgages-low-moderate-income-s

The Low Down on Those Low Down Loans

It seems lenders are finding that the new loan programs offering a minimum of only a 3% down payment aren’t attracting buyers and boosting homeownership among potential low to moderate income home buyers as everyone had hoped. (Low Down Loans) Why not? Some think it’s because of...
02
SEP
2016
wait-or-not-wait-housing-dilemma

To Wait or Not Wait: The Ongoing Housing Dilemma

The most recent Zillow Housing Confidence Index (Where do all these reports come from?) indicates that although many homeowners think now may be a good time to sell their home, they do not believe it is a good time to buy. (Housing Index) That creates a little problem. If...
01
SEP
2016
profits-up-mortage-bankers

Mortgage Banker Profits Higher in 2Q2016

According to MBA’s 2016 second quarter Quarterly Mortgage Bankers Performance Report, Independent Mortgage Bankers income more than doubled over what was earned in the first quarter.  Hooray for Brexit, low rates and good old fashioned hard work and ingenuity. Mortgage Bankers...