01
NOV
2017
mortgage-lenders-reinvent-yourself-Mcdonalds

Can Lenders Learn From McDonalds?

A little while ago, McDonald’s saw their profits dropping. It came as the result of increased competition in the fast food market coupled with consumers’ tendencies toward healthier meal choices. What did they do? McDonald’s continued to offer their core products of...
31
OCT
2017
FHFA-what-was-the-questions-again-preferred-language

Preferred Language Question is the Question

FHFA previously floated the possibility of adding another question to their new Uniform Residential Loan Application (URLA). This one has to do with an applicant’s preferred language, for communication. This question raised quite a few questions of its own. Industry participants...
27
OCT
2017
lonely-at-work-remote-birthday-cake

Are We a Lonely Group?

I came across an article that piqued my interest. It talked about the loneliness of today’s workers in an office environment. Not those who work on the road, remotely, or from home, but those who congregate each day at the office to perform their duties. Why would these people be...
26
OCT
2017
student-debt-freddie-mac-new-requirements

Freddie Getting a Little Picky on Student Loan Debt

In a mortgage world of eased credit standards, Freddie Mac is tweaking how they will treat an applicant’s student loan debt. Today when an applicant carries student loans that do not indicate a specific monthly payment amount on their credit report, lenders must obtain...
25
OCT
2017
MBA-annual-conference-2017-recap

ICYMI: A Recap of What’s Going On in Denver

In case you didn’t attend the National MBA Conference in Denver, here are some snippets on what’s going on. Fannie Mae Fannie Mae made some new announcements about more D1C authorized vendors and on expanding pilots to test out the use of single vendors for all required...
24
OCT
2017
equifax-identity-theft-fraud-vault-day-1-certainty

Equifax Breach Could Threaten Mortgages

The recent hack of consumer personal information held by Equifax provides cybercriminals with multiple access points to consumer credit. Aside from the obvious threats to unlawful credit card use, the information obtained could offer the keys needed to open many more unlawful...
23
OCT
2017
dophins-up-mortgage-originations-defaults

Mortgage Origination Forecast is Up | So Are Defaults

We heard some good news from Fannie! They are increasing their overall forecast for loan originations for 2017 and 2018 by nearly $250 billion. They are now projecting originations during the 4th quarter of 2017 to be about $427 billion. Any increase is good news for lenders....
20
OCT
2017
equifax-hacked-here-come-the-legislators

Cybersecurity May Make For Some Strange Bedfellows

As it usually is after some major event that adversely affects anything, the politicians all come out with their “recommendations” for correction of the problem and ways to avoid it in the future. No, I am not talking about the horrific event in Vegas or gun control. I’m...
19
OCT
2017
social-media-compliance-cloud

Are You Protected On Social Media?

Lenders know that any advertising done via social media outlets must comply with applicable related federal and state law. Such laws do not now contain any exceptions for the use of social media.   These include, but are not be limited to:   Equal Credit Opportunity Act...
18
OCT
2017
housing-market-survey-time-to-buy-a-home-fannie-mae

Is Now a Good Time To Buy a Home?

You bet your sweet bippy it is* if you can find one. That’s according to the results of the most recent Fannie Mae Homebuyer Sentiment survey. The swaying factor is the result of current renters saying they believe that now is a good time to buy a home. This is happening despite...