18
AUG
2017
GSE-Reform-more-than-Bargained-For-future-fannie-mae-freddie-mac

Could GSE Reform Be More Than We Bargained For?

There are all sorts of ideas floating around about ultimate GSE reform. Everyone believes their plan is the best. What would be best for the GSE’s and the industry? Should we have one combined agency with some sort of government backing? Should both Fannie and Freddie stay as is...
17
AUG
2017
buck-rogers-in-25th-century-digital-mortgage

Buck Rogers in the 25th Century!

Well, maybe not quite, but the big news is that United Wholesale Mortgage (UWM) recently closed their first, all-digital mortgage transaction. Yup, all digital, no wet signatures required. Using the new UWM technology, a borrower can execute all documentation, including legal...
16
AUG
2017

Don’t Do The Crime and You Won’t Pay the Fine

Since 2008, the Department of Justice (DOJ) has drastically increased its use of the False Claims Act  (FCA) to go after what say are bad actors in FHA mortgage lending. Since 2009, they have collected fines and penalties totaling more than $7 billion. That ain’t chump change....
15
AUG
2017
mortgage-interest-deduction-eliminated-tax-cuts

Might We Say ‘Goodbye’ to the Mortgage Interest Deduction?

Up until now, the elimination of the mortgage interest deduction has been considered off limits when discussing tax reforms. The third rail, don’t touch it, but that has changed. Elimination is a real possibility now on the table. In fact, according to Gary Cohn, National...
14
AUG
2017
FHFA-preferred-language-question-URLA

Does the FHFA Language Question Create a Slippery Slope?

As I mentioned in a previous post, FHFA is still considering adding a question to the new Uniform Residential Loan Application (URLA). The question would ask the applicant to indicate their ‘preferred language.’ The industry fears that this may open up a whole new regulatory can...
11
AUG
2017
programs-help-buyers-could-hurt

Programs Designed to Help Buyers – Could Hurt Some

Let’s take a look at some recent headlines in the mortgage industry news: Bipartisan Senate Bill would force Fannie & Freddie to think outside FICO FHFA’s Watt: No Change in GSE credit scoring model until 2019 Freddie expects to double low down payment mortgage volume in ‘17...
10
AUG
2017
losing-your-grip-on-loan-quality

Are Lenders Losing Their Grip on Loan Quality?

Could the gains we made on loan quality and compliance over the past few years be slipping away? I sure hope not. Lenders worked too hard. This could be the case. According to the First American Loan Application Defect Index, their last reporting period showed its 7th straight...
09
AUG
2017
correspondent-lending-technology-loanlogics

What’s So Different About Correspondent Lending?

Retail mortgage lenders are constantly looking for technology to find better ways to streamline their methods to take loan applications, gather loan information, approve and close loans. This helps minimize expenses so they can keep prices down to better compete in this highly...
08
AUG
2017
health care costs can pull you under water iceberg

What Does Healthcare Have To Do With Housing?

Over the last month or so, aside from Russia, all we read and heard about in the news is the repeal and replacement of Obamacare and the epic fail by the Republicans in their attempts to do so. This is a passionate concern of many Americans, regardless of their political...
07
AUG
2017
Snapchat-Instagram-Stories-social-media

Are You a Snapchatter or an Instagramer?

In a world of social media and digital advertising, what is the best way to get noticed by potential users of you and your products? Many Realtors and Loan Officers are turning to Snapchat and Instagram Stories. Each will get out the word, just a little differently. The vast...