Introducing the New Improved URLA Don’t look now! Hot on the heels of the system and technology modifications and updates needed to finalize the handling of the disclosures required by TRID, we see the new improved Uniform Residential Loan Application (URLA) looming on the horizon. This new application is being touted by the Agencies as a benefit to both consumers…
Credit Data Just got Bigger Beginning September 24th, Fannie will require lenders to utilize the new improved credit data provided in reports by Equifax and TransUnion. These new reports will utilize trended credit data as opposed to the static FICO score. (Trends) Years ago, we were told that these repositories created a much better process to evaluate a consumer’s credit…
In today’s digital world, websites are able to generate advertising dollars based on content and clicks and views of the site. The more clicks (views) the more successful the site and the more advertising dollars can be generated. So, just as it is with news print media, news outlets seek creative ways to draw attention to their site. One day…
In the interests of time, expense and competition, FHA and Private MI companies offered lenders a delegated process for loan insuring. This was great for everyone until the spit hit the fan in 2007. All of a sudden, these loan insurers were carefully reviewing every detail of each defaulted loan to identify any possibility of a lender’s failure to strictly…
Most believe that the mortgage originator will always be a required component due to the complexities of a mortgage loan process. (Originators) Although technology can help to acquire and process information, many consumers still want someone available to walk them through the process, available, when needed, to answer questions and provide guidance. Many believe, for this reason alone, the originator…
As Jimmy Durante used to say, “Everybody wants to get into act.” Lately, it seems like everyone has an opinion on the Fed’s rate outlook. Rising, steady, who knows! This time, it’s former Fed Chair, Alan Greenspan. When Mr. Greenspan talks about the economy and setting the Fed rates, most people listen. This time, he says rates are due to…
