tough-on-fraud-equifax
Uncategorized

Risk of Fraud Increased Before Equifax Hack

Fraud risk increased in the second quarter of 2017; before the reports of the Equifax PII security breach. The national fraud risk index came in at 132.6 as compared to 131.5 for the first quarter of 2017, with a big jump up from the same quarter last year, which was 113.4. Somewhere around 13,400 mortgage applications, or about 0.8%, submitted…

Continue Reading

Refis-not-ready-ride-into-sunset-market-still-alive
Mortgage Industry Trends

Let’s Talk a Little About Refis, Again

With things a little slow in the mortgage world, the conversation again comes around to refinances. Rates have increased slightly and according to those “in the know,” they should continue to rise. With the rise in mortgage rates, smart money says refinances will decline (again). But, we have heard that before and refi’s seem to be hanging around. Maybe this…

Continue Reading

equifax-credit-protection-hack-freeze-lock
Mortgage Industry Trends

Can Consumer’s Info Really Be Protected?

Every day we hear or read about another security breach with volumes of consumer’s private information being acquired by some unscrupulous people. Most recently it was Equifax, a major repository of consumer credit and personal data. Who might be next? Now, all the pundits and politicians saying something needs to be done to protect the consumer. More good intentions… Senator…

Continue Reading

trid-black-hole-cfpb-fee-disclosures
Mortgage Compliance

The “Black Hole” Revisited

You remember TRID’s “Black Hole?” The circumstance created by the new rule whereby a lender is unable to reset fee tolerances once an initial Closing Disclosure is issued and fees increase but closing gets delayed for more than 3 days. The question remains, how can a lender recover a fee increase once a CD is issued but closing gets delayed…

Continue Reading

brian-fitzpatrick-bikems-city-to-shore
Uncategorized

It Takes Training, Preparation, and Commitment

To run a business right and be successful, as in anything we do, it takes training, preparation, and commitment. A commitment to doing things right, no matter what the product or goal. Today, I’m gonna stray a little from what’s happening in the mortgage business and what we need to do to continue to ensure quality and compliance in the…

Continue Reading