08
DEC
2016
information-now-ppe

PPE Technology Advances Beyond the Rate Indicator

In this age of social media and instant information, lenders need to be able to communicate with applicants in a real time environment. Today’s consumers do not want to wait for scheduled meetings or information sent via snail mail. Lenders must embrace technology like never...
07
DEC
2016
ebb-flow-housing-market

The Ebb and Flow of the Housing Market

Like a river, the economy must keep flowing. Sometimes it may get dammed or re-routed but it’s got to keep moving. It cannot stand stagnant. That isn’t good for anyone. Based on all indicators it appears the economy is moving (growing) and with the election of Mr. Trump,...
06
DEC
2016
interest-rates-homes-sales-rise

Can Rising Rates Really Spur More Home Sales?

I’m a little confused. You would think that rising mortgage rates would have a negative impact on home sales. The higher the rate, the more it would cost a consumer in their monthly payments, the fewer consumers buying homes, right? Not necessarily. Most experts are predicting...
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...