28
FEB
2017
Oscars-error-faye-dunaway-warren-beatty-moonlinght-la-la-land

Is QC Important; Ask Warren, Faye & PwC

So you think that things always go as they should, eh? Well, recently we saw Steve Harvey and Mariah Carey fall victim to embarrassing moments, but the award, or should I say the Oscar, goes to Warren Beatty and Faye Dunaway. If you watched the Oscars, you witnessed one of the...
27
FEB
2017
Dodd-Frank-good-bad-lenders-banks-mortgage-thumbs-up-down

Is Dodd-Frank Good for Banks and Mortgage Lenders?

The current Administration is talking about making changes to modify or completely replace the Dodd-Frank Act. However, a new report out of Washington says it’s doing just fine.  According to the FDIC, in the 4th quarter of 2016, banks reported profits of $45.6 billion. This is...
24
FEB
2017
new-penn-conway-financial-services-joint-venture

New Penn and Massachusetts Realtor Join Forces

New Penn Financial, a large successful independent mortgage lender, based in the Philadelphia area, announced a joint venture with a Massachusetts Realtor. New Penn will join forces with Jack Conway, Realtor, to create Conway Financial Services. Conway Financial will operate as a...
23
FEB
2017
CFPB-Considers-Alternate-Credit-History-Sources

CFPB Rides Again. This Time on Credit History

For those of you who were hoping, and maybe believing, the CFPB and their Director, Richard Cordray, were going away, it looks as though that may not happen anytime soon. CFPB just announced plans to hold public hearings on the potential for use and the benefits of...
22
FEB
2017
educate-consumers-mortage-101-teacher-chaulkboard

Are You Educating Your Borrowers?

You would think that after all the hard work put in by CFPB and others to educate consumers on the mortgage process and associated costs we would now be seeing better results. According to a Wilson Perkins Allen Opinion Research survey, for ClosingCorp, in January 2017 more than...
21
FEB
2017
political-divide-hurts-comsumer-confidence-Democrat-Rebuplican-Donkey-elephant

Political Divide Hits Consumer Confidence

You can’t pick up a newspaper, listen to a talk show, news broadcast, read a tweet or online post today without some comment on the political divide. Everything has become a zero-sum game; there’s no room for compromise. It’s right or wrong, black or white, fair or unfair. In the...
20
FEB
2017
apped-out-loan-originators-replaced-Market-place-lending

Will Marketplace Lending “App Out” the Loan Originator?

While Banks and non-bank mortgage lenders battle it out to capture a larger slice of a shrinking pie, Marketplace Lenders have appeared on the mortgage lending scene to upset the pie chart. What effects will such lenders have on the future of mortgage lending, and how it gets...
17
FEB
2017
loan-quality-home-equity-cash-out-money-house

Home Equity and Cash-Out Refi’s On The Rise

It looks as though home refinancing may be down, but not yet out. Although overall home refinancing has declined, lenders are beginning to see a slight resurgence in requests for cash out refinances. This is due to the increase in home equity, the continued low-interest rates and...
16
FEB
2017
millennial-women-finance-FHA-mortgages-men-

Know Your Millennial Customer

Did you know that more Millennial women than men made FHA financed, primary home purchases in 2016? This was reported by Ellie Mae based on information obtained from their Millennial Tracker Report. Who knew such a tracking mechanism existed, but obviously it does. Based on the...
15
FEB
2017
mike-vitali-said-what-patti-labelle-housing-market

Consumer’s Got a New Attitude on Housing

Seems not everyone is upset by the election of our new President. According to Fannie Mae’s January Home Purchase Sentiment Index, consumers have a more positive outlook for housing. That’s a good thing. Patti LaBelle sang it like this… I’m feeling good from my hat to my shoe...