It’s a new year, offering a new beginning with new opportunities. By all accounts, 2017 will bring in the new purchase market and ring out the old refinances. With that, things will definitely change. New business will now come from Realtors and Builders. They need to be serviced as much as the consumers buying the homes they offer. Things are…
Once again we witness how important it is to do a quality check before going live. Just ask Mariah Carey who was all dressed up (or not) on New Year’s Eve with nowhere to go. She was totally embarrassed and mortified by a poor performance resulting from problems she encountered with the soundtrack and systems for the songs she was…
And it ain’t Auld Lang Syne. The Department of Justice (DOJ) isn’t quite finished yet. They recently settled with Troy, Michigan lender United Shore Financial Services (USFS) to the tune of $48 million. This may be music to their ears, but surely not to United Shore’s. It is important to note that this settlement was the result of an investigation…
With rates increasing, loan refinancing decreasing, and fewer affordable homes on the market, lenders may face some challenges in 2017 to generate business. Challenges that can be overcome with an eye toward purchase business, an expansion of products available for home financings and a trained staff to originate quality loans. Many companies have introduced new, online, automated verification systems that…
With the recent election, rising rates, improving the economy, more job opportunities, and wage growth, things could be looking up for housing and mortgage lending in 2017. Then again…maybe not. It all depends to which economist or so-called expert you listen. Here are some recent headlines about housing and home-financing: Borrowers brush off rising rates, pushing mortgage applications 2.5% higher…
We all knew that those extremely low mortgage rates couldn’t go on indefinitely. The time has come for rates to rise but it appears they may not have such a devastating effect on the housing market. Although forecasts for 2017 and 2018 are being adjusted down, the decrease is not that substantial. The good news is that we are…
