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...
17
OCT
2017
reg-tech-regtech-on-horizon

With More FinTech – Along Comes RegTech

With the increase of FinTech, technology to support financial service operations, comes RegTech, the technology to address and monitor regulatory compliance. Today, we have the makings of digital mortgages, consisting of online applications, verifications, approvals and closing;...
16
OCT
2017
one-fee-policy-coverage-title-simultaneous

Finally Some Bipartisanship on Capitol Hill

I guess it took some strong lobbying. But, now two Congressman, Rep. French Hill, (R/AK) and Ruben Kihuen (D/NV) want to improve upon how title insurance premium costs are disclosed under TRID. This has been a sticking point with lenders and title companies since the TRID rules...
13
OCT
2017
digital-mortgage-fraud-transactions

Mortgage Fraud in the New Digital Age

It’s estimated that in 2016, almost $20 million in wire transfers, like down payments and settlement funds, from bona fide real estate sale transactions were diverted to criminal’s bank accounts. This was accomplished by manipulating legitimate email accounts. How much more may...
12
OCT
2017
virtual-assistants-loan-originators-mortgage-siri-alexa-cortana

Want a Mortgage? Just Ask

Companies and consumers are increasing their use of voice-activated virtual assistants. Most companies today have interactive call answering systems that will guide a caller to their desired destination or provide static data. Banks offer services for their customers to call in...
11
OCT
2017
home-builders-consider-pros-cons-home-mortgage-interest-rate-deduction

A Change of Heart on Mortgage Interest Deduction

For as long as we can remember, everyone involved in home building, selling, and financing have strongly supported the home mortgage interest tax deduction. People financing their home could reduce their federal income tax by a large amount, if not all, of the interest they paid...