27
NOV
2017
cordray-mulvaney-english-cfpb-replacement

Cordray Out! Who’s Next?

As you probably know by now, Richard Cordray resigned as the inaugural Director of the Consumer Financial Protection Bureau (CFPB). With that, President Trump wasted little time in appointing his White House Budget Director, Mick Mulvaney, to replace Mr. Cordray. “Not so fast,”...
22
NOV
2017
Thanksgiving-Wish

A Thanksgiving Wish

Thanksgiving Day comes but once a year. However, the thought and intention of giving thanks for all we share and have should continue throughout the year. LoanLogics give thanks to all our employees, investors, clients, business partners and vendors for their continued support...
20
NOV
2017
reverse-mortgage-new-equity

Reversing the Trend on Reverse Mortgages

Don’t look now, but with home values on the rise so is home equity. That means that homeowners may have a little more available cash built up in their home. This is cash that can be used for a myriad of reasons; from paying off existing high credit card debts to helping their...
17
NOV
2017
hud-secretary-ben-carson-more-clarity-to-lending-process

More False Claims Under the False Claims Act

New HUD Secretary, Ben Carson, made it clear that FHA is concerned about lenders, especially banks, not participating in FHA lending, due to fears from potential False Claims Act (FCA) actions by the Department of Justice (DOJ). Secretary Carson made it quite clear that HUD...
14
NOV
2017

Will Tax Reform Affect the Housing Market?

Will we see any meaningful tax reform any time soon? Maybe, but what impact might it have on the housing market and our economy? Everybody seems to have their opinions. What’s yours? The problem as I see it is that the Republicans are working on tax reform to provide corporations...
13
NOV
2017
need-for-speed-digital-mortgage

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...
10
NOV
2017
CFPB-2018-HMDA-data-regulation2

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...
09
NOV
2017
social-media-policy-unintended-consequences

Are You Monitoring Your Employees’ Social Media Posts?

Social media has exploded in the last few years. Today, people have more ways to communicate through more channels, instantaneously. The speed of information, we see it everywhere; online pictures and videos of events; all news, all the time, in real time, as it happens. Pretty...
07
NOV
2017
infosec-protect-nppi-information-security

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...
06
NOV
2017
are-you-a-good-mortgage-lender

Are You a Good Mortgage Lender?

I read an article in the newspaper the other day and yes, I still read the newspaper, which provided some tips to homebuyers for finding a good mortgage lender. Some were obvious. But, I thought I’d give you the information as this is what is being provided to consumers to help...