14
DEC
2016
cfpb-prowl-reverse-mortgage

CFPB Still on The Prowl

Don’t look now but among all the talk of the new Trump administration’s defanging of the CFPB, the CFPB has fined three Reverse Mortgage lenders for deceptive advertising. According to CFPB all three, American Advisors, Reverse Mortgage Solutions, and Aegean Financial used...
13
DEC
2016
ada-accessible-mortgage-applications-information

Online Applications Present New Challenges

More and more lenders are providing consumers with online capabilities to obtain information about products offered and make application for a mortgage loan. More and more consumers desire and expect these capabilities when making their decision on which lender they choose. To...
12
DEC
2016
home-values-up-2016-2017

Home Equity Increases Create Opportunities for Lenders

Home prices increased about 6% over 1 year ago, and are projected to continue to rise at a rate of about 5% over the next year. That’s a pretty good jump in values over a two-year period creating wealth for existing homeowners in the form of increased home equity. What this means...
09
DEC
2016
hud-joint-action

And Another One Bites the Dust

This time to the tune of over $92 million in damages! As the result of a joint action brought by the US Attorney for the Southern District of NY, the US Attorney for the Southern District of Texas, Julian Castro, as HUD Secretary, and HUD’s Inspector General, Allied Home Mortgage...
08
DEC
2016
information-now-ppe

PPE Technology Advances Beyond the Rate Indicator

In this age of social media and instant information, lenders need to be able to communicate with applicants in a real time environment. Today’s consumers do not want to wait for scheduled meetings or information sent via snail mail. Lenders must embrace technology like never...
07
DEC
2016
ebb-flow-housing-market

The Ebb and Flow of the Housing Market

Like a river, the economy must keep flowing. Sometimes it may get dammed or re-routed but it’s got to keep moving. It cannot stand stagnant. That isn’t good for anyone. Based on all indicators it appears the economy is moving (growing) and with the election of Mr. Trump,...
06
DEC
2016
interest-rates-homes-sales-rise

Can Rising Rates Really Spur More Home Sales?

I’m a little confused. You would think that rising mortgage rates would have a negative impact on home sales. The higher the rate, the more it would cost a consumer in their monthly payments, the fewer consumers buying homes, right? Not necessarily. Most experts are predicting...
02
DEC
2016
hmda-coming-january-2018-data-loanlogics

New HMDA Data May Create Problems for Lenders

In January of 2018, just about all mortgage lenders will be required to collect approximately 50 data elements identifying specific information about the consumers obtaining mortgages from them, and the terms and conditions under which they get them. This information is required...
01
DEC
2016
idea-technology-loanhd

An IDEA Who’s Time Has Come

Everyone is familiar with Ford’s advertising campaign – “Quality is Job 1.” Lenders learned since the crash of 2008 that in mortgage lending loan quality and compliance is as important as is product and pricing. A poor quality loan can be as costly as one that is priced...
30
NOV
2016
housing-market-looking-up

Things Are Looking Up for Housing

Lately, most of the reports concerning housing and mortgage lending have to do with the rise in mortgage rates since the election. Many believe that this may derail any potential housing recovery. It seems that prediction may be a little premature. One of the challenges facing...