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Mortgage Industry Trends

Outsourcing Loan Originations: The Role of the Mortgage Broker

Mortgage Brokers rose to prominence in the era of subprime lending. Their flexibility to react to the opportunities presented by this market provided both them and many lenders with a new line of business, and profits. Since then, the Mortgage Broker has become a staple in the mortgage origination process providing correspondent and wholesale lenders with a steady stream of…

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low-down-payments-mortgages-low-moderate-income-s
Mortgage Industry Trends

The Low Down on Those Low Down Loans

It seems lenders are finding that the new loan programs offering a minimum of only a 3% down payment aren’t attracting buyers and boosting homeownership among potential low to moderate income home buyers as everyone had hoped. (Low Down Loans) Why not? Some think it’s because of a lack of information, education and understanding about the availability of these programs.…

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profits-up-mortage-bankers
Mortgage Industry Trends

Mortgage Banker Profits Higher in 2Q2016

According to MBA’s 2016 second quarter Quarterly Mortgage Bankers Performance Report, Independent Mortgage Bankers income more than doubled over what was earned in the first quarter.  Hooray for Brexit, low rates and good old fashioned hard work and ingenuity. Mortgage Bankers did what they do best. Make loans and make money while doing so. Once again, Independent Mortgage Bankers demonstrated…

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Mortgage Compliance

We’re from FHFA and we’re here to help…

Introducing the New Improved URLA Don’t look now! Hot on the heels of the system and technology modifications and updates needed to finalize the handling of the disclosures required by TRID, we see the new improved Uniform Residential Loan Application (URLA) looming on the horizon. This new application is being touted by the Agencies as a benefit to both consumers…

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Mortgage Industry Trends

Are Ready for the New Trends in Credit Data?

Credit Data Just got Bigger Beginning September 24th, Fannie will require lenders to utilize the new improved credit data provided in reports by Equifax and TransUnion. These new reports will utilize trended credit data as opposed to the static FICO score. (Trends) Years ago, we were told that these repositories created a much better process to evaluate a consumer’s credit…

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