I’ve enjoyed writing the “Hey Boomer” blog series on b-Logics this year, which looked back at the way loan quality control (QC) was once managed in the mortgage industry and how its evolved. For my last post of the series, this will be the fifth and final, I’m diving back into defects. Recent industry volume got me thinking about…
With much of the mortgage industry still grounded, I’ve been reflecting on how much things have changed since the ‘good old days.” Not only the “good old days” pre-pandemic when we could freely meet and greet one another but also long before we had so many tools to use to connect us when we are not together face-to-face. Tools in…
Laughing, we didn’t! Just kidding but not really! Communicating post close defects upon discovery was certainly not on anyone’s service level agreement back in the early days of doing post close audits. The technology just wasn’t there to help facilitate it. Lenders typically received findings from their outsourced quality control (QC) provider 60, sometimes 90, days out from the time…
Remember the days of Local Area Networks (LANs) when computer systems were linked through hardwired telecommunication within a single building or one nearby? Those were novel times back then. Remember loan quality control in those days? As a Boomer, I do and it’s the topic of our second installment of our “Hey Boomer” blog series. Before LAN usage, which dramatically…
Following the great interest we had in our 2019 six-part blog series, “Millennials Mortgage Process,” which followed one of our colleagues on her home buying journey, we are back in 2020 with a new take on generational perspectives in the mortgage industry. Riffing off a fairly well-known and controversial 2019 meme, “Ok, Boomer,” we are kicking off our “Hey, Boomer.”…
It takes 7 years for a foreclosure to clear someone’s credit report. The housing crash hit in 2008 and as a result, many lost their homes in 2008 and 2009 through a foreclosure. That means that many of those foreclosures should be clearing off their credit reports. Get ready, the “Boomerang Buyers” are ready to come back into the home…
