FHA requires lenders to sign an annual and individual loan certification that basically states the lender originates loans for FHA insurance in compliance with all related FHA rules and requirements. If the lender is found to have violated these rules, the lender may be fined and prohibited from further participation in the FHA lending program. In some cases, the lender…
As it should be with everything we do, it is important to start at the beginning. Sometimes we get so wrapped up in what’s happening or going to happen, we jump in without looking where we leap. This can be dangerous. With all the concentration on the upcoming TRID changes and the two new TRID forms, it’s important to be…
The NFL football season finally got into full swing on Sunday with a slate of games nationwide. There was drama, intrigue, excitement and fun for all (except if your team lost). For the most part, it was a typical fall Sunday afternoon (although it’s not quite Fall, yet). There were great games, upsets, controversy and big plays, with one major…
It’s taking a little longer than prior generations, but the current Millennial generation is growing up and starting to take hold of their future. Although their priorities may be a little different, many of the more than the 75 million Millennials, now between the ages of 18 and 29, will look to purchase a home in the next 5 years.…
You heard the saying that the only thing constant is change. Well, I’m attending the MBA’s Risk Management, QA and Fraud Prevention Forum in Dallas this week and the word seems to be that the only thing certain when it comes to life of loan reps and warrants for the GSEs and FHA is that lenders are uncertain. The GSEs…
If you’re a lender and you haven’t seen this video you should take a look (Complaint). CFPB is now posting videos of consumer complaints to bring about awareness of the recourse available when they think they have been wronged by a lender. Interestingly, in the video posted here, the consumer happens to be an immigrant. Although we do not get…
