23
MAR
2017
technology-consumers-relationships-star-trek-scotty

Technology or Not, Borrowers Want Relationships

Today it’s all about technology; Social media, online information, immediate access to products and services. You name it, it’s better with technology. Mortgage lending, although a little slow to the dance, is now embracing technology like never before, and what tech can do for...
22
MAR
2017
millennials-education-first-time-home-buyer

What’s Holding Millennials Back?

Millennials have been toying with the idea of buying a home for the past year. Many say they want to make the jump, but there are extenuating circumstances still holding them back.  Things like: Student loan debt Limited credit profile Fears leftover from the credit crash of 2008...
21
MAR
2017
repositories-transunion-equifax-experian-reporting-civil-judgment-tax-liens-gavel

Repositories To Change Credit Reporting Policy

Are you aware that on July 1st, the three (3) credit repositories, Equifax, Experian and TransUnion, are going to stop most of the reporting of information on consumer’s civil judgments and tax liens? Yup, that’s their plan and they’re stickin’ to it. Since this information has a...
20
MAR
2017
dont-know-jack-nicholson-hmda-cfpb

If You Don’t Get HMDA Right, You Don’t Know Jack

“It’s amazing, we can’t do HMDA right,” so said my good friend and colleague Jack Konyk, Executive Director of Government affairs with Weiner Brodsky Kider, during an exchange at a recent industry forum. Jack was talking about the requirements for reporting a borrower’s...
17
MAR
2017
millennials-are-here-paul-revere-mortgage-buyers

They’re Here. Millennial Buyers Are Here!

The much anticipated, and long awaited, entrance of Millennials into the home buying market seems to finally be upon us. This generation accounted for about 85% of the volume of home purchase, closed mortgages in January. Not surprisingly, many of these buyers chose low down...
16
MAR
2017
Are-Your-Ready-For-HMDA-Keyboard-tapping

And So It Begins!

  Are You Ready to HMDA? “Those required to report this information must make more careful efforts to follow the law,” CFPB Director Richard Cordray said in a press release. “Today we are sending a strong reminder that HMDA serves important purposes for many...
15
MAR
2017
can-you-compete-housing-market-business-race

Can You Compete in the New Mortgage Market?

Times they are a changing…rates are on the rise, refi’s are going away, house prices are increasing, and buyers are a little different and getting tougher to qualify. To compete in the new mortgage market, lenders need both a full complement of products and services and current...
14
MAR
2017
housing-starts-impact-home-prices-new-house-construction

Will New Housing Starts Impact Home Prices?

According to Lynn Fisher, MBA’s Vice President of Research and Economics, new housing starts should increase about 10% in 2017 and just a bit less in 2018. The effect should be to slow the rising prices for existing housing,  helping more consumers realize their American Dream....
13
MAR
2017
Consumer-confidence-rises-new-products-mba-nj-conference-atlantic-city-2017

Woo-Woo Consumers Are Upbeat on Housing!

Despite rising mortgage rates and increasing home prices, many consumers are feeling good about housing going into the spring buying season. As evidence, Fannie Mae’s monthly index of homebuyer sentiment rose to its highest level since 2011. That’s great news. Woo-Woo! According...
10
MAR
2017
non-prime-private-label-mortgage-backed-securities-atlantic-city-MBA-NJ-conference

A Look into a Non-Prime, Private Label MBS

The market has been mostly void of private label securities; securities that are not backed by Fannie, Freddie or Ginnie. There are some of these securities being created like the one recently done by Angel Oak of Atlanta. Angel Oak, having previously issued non-rated,...