need-for-speed-digital-mortgage
Mortgage Industry Trends

They Feel The Need for Speed

Do you remember, the line from Top Gun when Maverick turned to Goose and says, “I feel the need, the need for speed!”  It seems consumers may be feeling that way about the digital mortgage process. According to a recent J.D. Powers survey, 43% of all mortgage applications were done online. This was up from 28% a year ago; making…

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CFPB-2018-HMDA-data-regulation2
Mortgage Compliance

Just Another HMDA Alert

I hope by now everybody knows or should know, that CFPB has increased the reporting requirements for data under the Home Mortgage Disclosure Act (HMDA). Even some people outside of our mortgage lending arena have asked me about it. Go figure. Effective with loan action dates in 2018, lenders need to report 48 loan data elements to CFPB for each…

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