01
FEB
2017
Return-To-Yesteryear-Arrow-Right

The Return To Yesteryear?

With a new Administration comes a new look at housing and homeownership. Homeownership rates have been on the decline since the housing crash of 2008. To get them back on track, it may be time for some changes. The stigma associated with mortgage lenders is fading. Taxpayers and...
31
JAN
2017
34th-regional-conferenece-of-mbas-Harrahs-atlantic-city-convention-center

Looking for Ways to Increase Production?

Who isn’t? With the forecast for rising mortgage rates, limited home supply and fewer refinances, mortgage lenders and banks will be fighting to grab a bigger piece of a shrinking pie. Although 2017 is forecast to be a pretty good year for home purchase financing, with so many...
30
JAN
2017
finding-home-renovation-market-for-lenders-heloc-loans-view-of-renovations-through-telescope

New Opportunities In Home Remodeling Market

The outlook for 2017 looks good for home repair and remodeling. Both the Joint Center for Housing Studies at Harvard and the National Association of Homebuilders are forecasting a strong 2017 home repair/remodeling market. This may also open some new doors for home financing to...
27
JAN
2017
dow-hits-20000-stock-market-chart

Breaking 20,000. Where Do We Go From Here?

Well, it happened. As some have been forecasting a stock market crash, the DOW broke the 20,000 mark on Wednesday, showing continued strength. Whether from the “Trump Bump” or not, things are looking up for the markets. What does that mean for mortgage rates and mortgage lending?...
26
JAN
2017
chase-bank-discriminatory-lending-money-in-mouse-trap

Chase Showed “Reckless Disregard” for the Rights of Minority Borrowers

The DOJ strikes again. JPMorgan Chase is paying $55 million to settle a lawsuit accusing it of discrimination in their mortgage lending practices. (DOJ Fine) According to the complaint filed by the US Department of Justice, Chase allowed Brokers originating loans for them to...
25
JAN
2017
home-builders-changing-course-building-houses

Home Builders Are Changing Course

Home Builders may be bucking the old adage to not change horses in the middle of a stream. With the ongoing uncertainty surrounding Millennials’ entry in home ownership, builders are once again courting good old Baby Boomers. The number of 55 and older homebuyers continues to...
24
JAN
2017
Plan-of-action-quality-control-mortgage-defect-management-lending

What’s Your Defect Management Plan of Action?

Over the past few years, lenders should have realized the importance of the quality of the loans they originate and why these need to be done in compliance with all the rules. We’ve seen that lenders originating large volumes of poor quality loans are susceptible to huge fines,...
23
JAN
2017
Trump-signs-executive -order-suspends-FHA-annual-premium-reduction

FHA Price Cut…What FHA Price Cut?

In case you haven’t heard, President Trump officially suspended the reduction in the annual FHA premium previously announced by FHA. With the stroke of a pen, Mr. Trump made one of his first official presidential acts to officially suspend the rate cut indefinitely. This action...
20
JAN
2017
CFPB-listening-complaint-database

Are You a Five Star Complaint?

In case you weren’t aware (and you should be), the CFPB is at it again. This time they propose to institute a system to allow consumers to rate the service they received from lenders when handling their complaints. (Complaints) Once the complaint is closed, the consumer could...
19
JAN
2017
The-interest-rate-game-mortgage

The Rate Game. Here We Go Again.

With the election and the economy supposedly improving, the Fed raised rates in December. That was expected. With that raise also came an increase in mortgage rates. That was also expected. However, now that things have settled down a little, mortgage rates have once again come...