03
AUG
2017

Ken Markison to Retire…Again!

MBA recently announced two promotions in their regulatory arena. Justin Wiseman is being promoted to Associate Vice President & Marketing Regulatory Counsel, and Sara Singhas is being promoted to Associate Regulatory Counsel, mainly responsible for all servicing issues....
02
AUG
2017
technology-human-loan-originator-hybrid-LO

Keeping the LO in Loan Originations

With all the buzz around implementations using technology and a digital loan process, some say the role of the loan originator (LO) may be diminished, if not eliminated. Recent studies have shown that, although many homebuyers want access to a digital process that is online, they...
01
AUG
2017
its-the-economy-stupid-james-carville-rent-home-own

It’s the Economy, Stupid!

To borrow a slight variation of a phrase used by James Carville, campaign strategist to President Bill Clinton, the economy is dictating what is happening in the housing markets and homeownership rates. Recent studies by the Pew Research Center, a nonpartisan fact tank in...
31
JUL
2017
1-percent-down-loan-freddie-mac

Freddie Closes the Door on “1% Down Loans”

Not too long ago, the rage was all about loans being offered by various lenders with a minimum of a 1% down payment coming from the borrower. Freddie Mac was the secondary source purchasing these loans. This was done to increase homeownership by reducing the amount needed upfront...
28
JUL
2017
CFPB-QM-ATR-deadline-request-for-comment

CFPB QM/ATR Assessment

Hey, did I tell you that the CFPB is in process of their required review of the effects of the QM/ATR rules implemented under Dodd-Frank? Well, they are! CFPB is looking into several lending areas to determine to successes or failures of the new rules. They’ll be reviewing...
27
JUL
2017
FHFA-RFI-LEP-PL-translation

Did You Comment on FHFA’s LEP Borrower Proposals?

  Did you know that the Federal Housing Financing Agency (FHFA) put out a Request for Input for Improving Language Access in Mortgage Lending and Servicing? You should respond because what they propose may have a drastic impact on how mortgage lending and servicing is done...
26
JUL
2017
What-Millennials-Look-For-mortgage-loan

Do You Have What Millennials Are Looking For?

By now, I believe that mortgage lenders are aware of the importance of the Millennial generation. In a world of shrinking opportunities for new originations, this generation represents an oasis for business. How do you make it through the desert to drink from the Millennial pool...
25
JUL
2017
Little-things-that-count-error- tracking

It’s The Little Things That Count

Any business should know that it’s the complaints that you don’t hear that cause the biggest problems and loss of business. The same holds true for the defects that you don’t find. These are the ones hidden in the pipeline that can end up costing a company big money in the long...
24
JUL
2017
debt-to-income-dti-fannie-mae-freddie-mac

Fannie Expands the Credit Box Again

Fannie Mae announced that they are expanding their DU credit box to accept/approve mortgage loans up to 50% total DTI (Debt to Income) ratio, as of July 29th. Some see this as a good thing. This means that Fannie will approve loans where the borrowers total recurring monthly debt...
21
JUL
2017
aba-respa-cfpb-light-end-tunnel

ABA’s; Light at the end of the Tunnel

Looks as though you can fight City Hall! In what may become a landmark decision, Judge Charles R. Simpson III, of the U.S. District Court for the Western District of KY, ruled in favor of a small Louisville, KY, law firm against Richard Cordray, and the powerful Consumer...