19
MAR
2015
CFPB Judge Jury

Public Floggings

The current administration is holding true to its statements and intentions to be more transparent, at least when it comes to publishing consumer complaints against lenders. The CFPB announced today they will offer consumers the option to publish the full text of complaints made...
18
MAR
2015
Credit Invisibles

The Credit Invisible Myth

In the never-ending pursuit of more ways to increase homeownership, we now come to another segment of the population which may be deprived of this opportunity. The “Credit Invisibles”, those without a standard credit score (Credit Invisibles).It seems there are between 30 to 35...
17
MAR
2015
Two Sides to every story

Two Sides to a Story

As is usually the case, there are two sides to a story (sometimes three). Yesterday, we heard about a potential increase in home buyers resulting from renters jumping into the market. Today, we get the other side of the story. Builder confidence is at its lowest levels in quite...
16
MAR
2015
Renters to Home owners

Wave of New Home Buyers

Here’s some good news for a change. According to Zillow, in 2015 we should see a wave of new homebuyers coming from the ranks of current renters (Renters). As more and more people are renting, for one reason or another, two things have happened. There are fewer affordable rental...
13
MAR
2015
LoanLogics MBA-NJ Party

Mortgage Bankers Rock On

I just attended the 32nd Annual Regional Conference of MBAs in Atlantic City, NJ and it seems things may be looking up for lending in the next few years. The residential conference opened with an uplifting performance by
11
MAR
2015
Grow Your Own LO's

Where Have All the LOs Gone?

I believe the biggest challenge facing lenders today is not complying with the upcoming TRID changes or anything in the regulatory area, but how and by whom they originate business in the future. We are an industry dominated by production, with a constant drive for more and more...
10
MAR
2015
All Systems Go LoanLogics

All Systems Go

  Prior to running down to the Annual Regional Conference of Mortgage Bankers Associations in Atlantic City, I was checking today’s industry headlines. Let’s see, we have articles about: The increased cost to buyers with FHA financing FHA Costs) Supreme Court’s Ruling on OT...
06
MAR
2015
This is still America CFPB

Is This Still America?

I’ve come across some additional information as follow up to my recent blog about the CFPB and their appeal process (Who’s Watching the Store) which I believe you’ll find interesting.  Thanks to Joe Garrett, of Garrett, McCauley & Co,...
06
MAR
2015
Slow News Day

So What’s New?

Looks like a slow news day; not much being reported is “new” in the news. Maybe, that’s a good thing as it indicates that for the most part things may be settling down. According to most reports, the economy is
05
MAR
2015
The CFPB Store

Who’s Watching the Store?

Many years ago, we, as a Nation, revolted against a King. It seems we may have as close as you can get to an omnipotent ruler in the form of the CFPB, and its Director, Richard Cordray (CFPB Hearings). For the most part, the CFPB answers to no one while carrying out what they...