11
AUG
2016
realtor.com-blowing-smoke

Realtor.com Economist Not Just Blowing “Smoke” About Housing

Jonathan Smoke, Chief Economist for Realtor.com, says although we had a strong housing market so far in 2106, the near future may not be so good (Housing). The potential for a slight rate hike, or just the hint of one, coupled with a shrinking housing supply, may slow the pace of...
10
AUG
2016
low-rates-both-good-and-bad

Low Mortgage Rates – Both Good and Bad for Lenders

With mortgage rates remaining at historic lows, lenders have continued to reap the benefits of an extended refinance period. But, do these low rates also pose a serious long range problem for lenders and the housing market? Factors, like low rates, that on the surface appear to...
09
AUG
2016
Fannie-mae-home-ready

Are We Ready For Fannie’s HomeReady Changes?

Fannie Mae announced some recent changes to their HomeReady loan program, with more changes coming later. The intent is to make it easier for more people to qualify to buy or refinance a home. Are we heading down the same path that got us in trouble in the past? The HomeReady...
05
AUG
2016
CFPB-new-info-trid

CFPB TRID Resource (Know Before You Disclose)

Here’s some good information provided by the CFPB to help lenders to better understand the TRID rule requirements and answer some questions about the disclosures. Access to an index of the questions addressed by the CFPB during webinars presented may be found on their...
04
AUG
2016
US-bank-credit-tool-box

New Tool To Help Improve Your Credit Profile

In a constant search to find ways to help consumers improve their credit profile, U.S. Bank has partnered with Sage Software to provide their customers’ access to a new accounting product dubbed AP Organizer (Improved Credit). U.S. Bank believes that doing so will help their...
03
AUG
2016
time-FHA-92900-A

It’s Time for Revised HUD 92900-A, Loan Level Certification

As a friendly reminder, for all loans with the FHA case number assigned as of August 1, 2016, a lender must execute the new, improved HUD 92900-A when approving the loan (92900-A). This is the document containing the certifications made by the borrower and lender in connection...
02
AUG
2016
TRID-Comment-period-open-for-business

TRID Rule Update: Comment Period is Now Open

CFPB’s long-awaited and much-anticipated Proposal for updating the “Know Before Owe” rules, or TRID, as it is better known to the lending industry, are now out. (Read all about it) The proposal answers some questions, clarifies prior comments, leaves some things unanswered, and...
01
AUG
2016
predictive-data-big-data-big-brother

Predictive Data: The Path to More Business?

The days of mailing postcards to neighbors announcing the sale of a local home may be coming to an end. Bad news for those postcard makers; but, good news for Realtors and lenders. Is it good news for homeowners? Using ‘Big Data’ and proprietary marketing systems, Realtors may be...
29
JUL
2016
cure-lender-defects-earlier

FHA Reports “No Progress in Lender Defects”

Based on FHA’s most recent Lender Insight newsletter (Insights), FHA lenders are not doing so well in managing their initial gross defects. According to the FHA’s post-endorsement technical reviews, over the past 2 years, the initial unacceptable defect rate is averaging just...
28
JUL
2016

MBA Cautions FHA to “PACE” Itself

The other day I posted a blog outlining FHA’s policy on the acceptance of properties encumbered by PACE (Property Assessed Clean Energy) loans for FHA insured financing. If you missed it, (click here). To be fair, here’s the other side of the story. The MBA is concerned that the...