30
DEC
2016
new-year-ahead

What’s Your Plan for 2017?

With the recent election, rising rates, improving the economy, more job opportunities, and wage growth, things could be looking up for housing and mortgage lending in 2017. Then again…maybe not. It all depends to which economist or so-called expert you listen. Here are some...
29
DEC
2016
it-wont-last-forever

We Knew It Wouldn’t Last Forever

  We all knew that those extremely low mortgage rates couldn’t go on indefinitely. The time has come for rates to rise but it appears they may not have such a devastating effect on the housing market. Although forecasts for 2017 and 2018 are being adjusted down, the decrease...
28
DEC
2016
no-action-policy-cfpb

ICYMI – CFPB Introduces the “No Action Policy”

It sounds a little strange. A policy created for no action. It outlines what companies must do to determine if CFPB will not take, or is not contemplating taking, supervisory or regulatory action pertaining to a specific financial product to be offered to consumers (No Action.)...
27
DEC
2016
non-traditional-credit

Alternative Credit: The Opportunities and Challenges

Interesting that someone who does not have what has come to be known as a ‘traditional’ credit score finds it difficult to get a mortgage. It wasn’t that long ago (some of us still remember) when there wasn’t such a thing as a traditional credit score.  Loans were underwritten...
22
DEC
2016
christmas-holiday-make-dough

Let’s Make Dough

          The market shows signs of improving And owners are thinking of moving The mortgage rates are still pretty low Let’s make dough, let’s make dough, let’s make dough   Though the rates may be increasing, And refis are now decreasing The...
21
DEC
2016
day-1-certainty-fannie-mae

Be Sure About Day 1 Certainty

Fannie Mae introduced their new Day 1 Certainty program for relief from the reps and warrants related to the verification and reverification of employment, income, and assets. Good news for lenders. To obtain the relief, lenders need to validate information through Fannie...
20
DEC
2016
bang-for-the-buck-qc

Bang for Your QC Buck

Today lenders are required to perform both pre and post close loan reviews for Fannie, Freddie, and FHA loans. Many banks do those reviews as well for loans held in portfolio. It’s not a bad idea. With the rising costs of quality and compliance, are you sure you are getting the...
19
DEC
2016
optimism-housing-market

Despite Rising Rates Optimism for Housing

Some believe that the rising mortgage rates may spell a real problem for the continuance of a housing recovery. That may be. However, based on the results of the recent Berkshire Hathaway HomeServices’ Homeowners Sentiment Survey (the BtripleHdoubleS), many are still optimistic...
16
DEC
2016
trid-defect-rates

Defect Rates Improve but TRID Still Leads the List

Recent reports from lenders and QC vendors show that overall loan defects are on the decline, including defects related to the TRID rules.  This is good news for lenders, the secondary markets, and the housing industry. Fewer defects mean better loans, better loans mean fewer...
15
DEC
2016
how-do-consumers-feel-about-housing-market

How Do Consumers Feel About Housing?

Two recent reports, one by Fannie and another by Trulia, an online marketplace, indicate that consumers may be a little less optimistic when it comes to homeownership. The Fannie Mae Home Purchase Sentiment Index declined for the fourth straight month in November by about a half...