02
DEC
2016
hmda-coming-january-2018-data-loanlogics

New HMDA Data May Create Problems for Lenders

In January of 2018, just about all mortgage lenders will be required to collect approximately 50 data elements identifying specific information about the consumers obtaining mortgages from them, and the terms and conditions under which they get them. This information is required...
01
DEC
2016
idea-technology-loanhd

An IDEA Who’s Time Has Come

Everyone is familiar with Ford’s advertising campaign – “Quality is Job 1.” Lenders learned since the crash of 2008 that in mortgage lending loan quality and compliance is as important as is product and pricing. A poor quality loan can be as costly as one that is priced...
30
NOV
2016
housing-market-looking-up

Things Are Looking Up for Housing

Lately, most of the reports concerning housing and mortgage lending have to do with the rise in mortgage rates since the election. Many believe that this may derail any potential housing recovery. It seems that prediction may be a little premature. One of the challenges facing...
29
NOV
2016
doj-department-of-justice-softer-kinder

A Softer, Kinder DOJ

Here is some good news about the new administration.  The word on the street is that the Department of Justice is in the process of dismantling their multi-agency task force put in place to seek out potential legal actions against lenders under the False Claims Act. The reason...
25
NOV
2016
black-friday-shop-for-home

It’s Black Friday. Time to Shop…For a Home

Hope you read my blog on Wednesday. I provided some background on Black Friday. The day that now traditionally marks the official beginning of the holiday shopping season; when sales skyrocket and retailers go from red to black. Deck the halls and all that stuff. Well, it looks...
23
NOV
2016
thanksgiving-black-friday-history

‘Black Friday’ Roots in Philly

I hope your Thanksgiving Day is full of fun, family, and football. It’s all about tradition. Although there is some disagreement on the holiday, what is meant to represent and how it was first celebrated, it’s still a tradition of people getting together to share some food and...
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...