02
FEB
2018
hmda-humming-along-cfpb

HMDA Keeps Humming Along

The CFPB just released their new 2018 LAR (Loan/Application Register) formatting tool, with updates to their 2018 HMDA data reporting Instructions Guide.  These can both be found, along with other HMDA data reporting requirements, on the CFPB HMDA Website. This new tool should be...
31
JAN
2018
Non-bank-lenders-could-join-banks-FHA-boycott

Should Non-Bank Lenders Join Banks in FHA Boycott?

One of the byproducts of the housing crash was that many of the large commercial Banks discontinued offering FHA insured mortgage loans. In fact, at present, only two of the big guys are still originating under the FHA program; Wells Fargo and Flagstar? Both also offer a huge...
30
JAN
2018
NAHB-remodeling-index-2017-home-equity-loans

Home Remodeling to Stay or Sell?

Homeowners’ equity is at all-time highs. That affords them the opportunity to use that equity in a number of ways. One way is to take some money and do some long overdue upgrades. The National Association of Home Builders (NAHB) Remodeling Index, (yup, another index), rose 3...
29
JAN
2018
fraud-ahead-inventory-down

Fraud Risk Rises, Inventory Falls & Lenders Expand Programs

The national mortgage average fraud risk indicator, according to CoreLogic, increased by 3 points in the fourth quarter, going from 135 to 138. The CoreLogic’s mortgage fraud risk index is determined from the total of loan application fraud risk scores during the prior quarter....
25
JAN
2018
deceptive-headlines

Headlines Can Be Deceiving

A recent article indicated “Homebuilder sentiment cools in January from 18-year high”.  Sounds a little ominous. Like, maybe the jig is up, things are taking a turn for the worse. That couldn’t be further from the truth. Yes, homebuilder sentiment is down from its highest level...
23
JAN
2018
fico-vantagescore-credit-battle2

The Credit Score Battle Has Begun

A new battle is brewing between bank and non-bank mortgage lenders over the use of credit score models. The battle over FICO versus VantageScore has begun. Which is the better scoring system to use for qualifying mortgage applicants and which is the best indicator of potential...
19
JAN
2018
buy-or-rent-home

Buy or Rent? That is the Question

You may not like the answer. In the category: “Things you should know, but would rather not,” comes some info on the status of housing. According to a recent ATTOM Data Solution’s Rental Affordability Report, buying a median-priced home is more affordable than renting a...
18
JAN
2018
new-tricks-old-dogs-millennials-social-media

You Can Teach An Old Dog New Tricks

A couple of banks in North Carolina are trying some new tactics to attract more customers, especially Millennials. Millennials have drawn much attention as they now represent the single largest group of consumers. Companies of all sorts, including banks and mortgage lenders, are...
17
JAN
2018
beatles-old-new-again

What We’ve Got Here Is A Failure To Communicate

They say (whoever ‘they’ are) that if you stick around long enough, you’ll things come back around. Like clothing styles. You look at men’s suits today and they look a lot like the ones the Beatles wore back in the 60’s.  Women appear to once again be wearing Capri pants. Ties...
16
JAN
2018
minnesota-credit-scores-high-vikings-philadelphia-eagles

Football And Credit Scores Are Up in Minnesota

Minnesota is flying high, just like their receiver Stefon Diggs, after their miracle finish to win the NFC Divisional game on Sunday. What a finish! But that ain’t all. Experian’s annual State of Credit report reveals that Minneapolis posted the highest average credit score for...