23
FEB
2017
CFPB-Considers-Alternate-Credit-History-Sources

CFPB Rides Again. This Time on Credit History

For those of you who were hoping, and maybe believing, the CFPB and their Director, Richard Cordray, were going away, it looks as though that may not happen anytime soon. CFPB just announced plans to hold public hearings on the potential for use and the benefits of...
22
FEB
2017
educate-consumers-mortage-101-teacher-chaulkboard

Are You Educating Your Borrowers?

You would think that after all the hard work put in by CFPB and others to educate consumers on the mortgage process and associated costs we would now be seeing better results. According to a Wilson Perkins Allen Opinion Research survey, for ClosingCorp, in January 2017 more than...
21
FEB
2017
political-divide-hurts-comsumer-confidence-Democrat-Rebuplican-Donkey-elephant

Political Divide Hits Consumer Confidence

You can’t pick up a newspaper, listen to a talk show, news broadcast, read a tweet or online post today without some comment on the political divide. Everything has become a zero-sum game; there’s no room for compromise. It’s right or wrong, black or white, fair or unfair. In the...
20
FEB
2017
apped-out-loan-originators-replaced-Market-place-lending

Will Marketplace Lending “App Out” the Loan Originator?

While Banks and non-bank mortgage lenders battle it out to capture a larger slice of a shrinking pie, Marketplace Lenders have appeared on the mortgage lending scene to upset the pie chart. What effects will such lenders have on the future of mortgage lending, and how it gets...
17
FEB
2017
loan-quality-home-equity-cash-out-money-house

Home Equity and Cash-Out Refi’s On The Rise

It looks as though home refinancing may be down, but not yet out. Although overall home refinancing has declined, lenders are beginning to see a slight resurgence in requests for cash out refinances. This is due to the increase in home equity, the continued low-interest rates and...
16
FEB
2017
millennial-women-finance-FHA-mortgages-men-

Know Your Millennial Customer

Did you know that more Millennial women than men made FHA financed, primary home purchases in 2016? This was reported by Ellie Mae based on information obtained from their Millennial Tracker Report. Who knew such a tracking mechanism existed, but obviously it does. Based on the...
15
FEB
2017
mike-vitali-said-what-patti-labelle-housing-market

Consumer’s Got a New Attitude on Housing

Seems not everyone is upset by the election of our new President. According to Fannie Mae’s January Home Purchase Sentiment Index, consumers have a more positive outlook for housing. That’s a good thing. Patti LaBelle sang it like this… I’m feeling good from my hat to my shoe...
14
FEB
2017
Executive-order-CFPB-no-love-Trump

No Love for Trump’s Executive Order on Regulatory Restrictions

Happy Valentine’s Day, Mr. President. Another Executive Order (EO) bites the dust. This time the EO issued for Reducing Regulations and Controlling Regulatory Costs. According to a memorandum issued by the Office of Information and Regulatory Affairs’ acting Administrator,...
13
FEB
2017
mixed-signals-messages-consumer-confidence-red-light-green-light

Consumer Confidence Index Sends Mixed Signals

The Consumer Confidence Index, as measured and reported by the Conference Board of New York, slipped slightly in January after hitting a record high in December. This may be somewhat due to consumers settling in after the November elections. Although the Expectations Index fell...
10
FEB
2017
veterans-administration-home-loan-program-salute

Serving Those Who Protected and Served Our Country

Here’s a great opportunity to help someone; while helping yourself. With all of the military actions over the past several years, there are now millions of veterans who are in need of home financing. Many of these vets are blocked from traditional conventional loan programs due...