It seems like just yesterday the pandemic was fanning the flames on the importance of post-closing reverifications of income and employment. While some of that economic volatility has settled down, two years later reverification is still just as significant but for different reasons. In a purchase market, one that’s forecasted to grow 9% this year*, heightened fraud risk comes with…
In less than two months, on March 19th, desktop appraisals will officially transition from a 2020 covid flexibility to a long-term reality for some GSE products. As a result, the Post-Closing QC appraisal field review for many conventional loans is no longer required. Replacing the field review requirement on 10% of conventional loans in Post-Closing QC samples, is a Collateral…
In an October blog post summarizing insights learned at the 2021 RMQA forum, we covered the latest industry defect trends. According to Freddie Mac, 4% of the QC reviews the performed in 2019 resulted in repurchase. That number grew to 6% in 2020 and through August of 2021 that number was already at 8%. They also reported that multiple deficiencies…
2022! New Year, new budgets, right? Both typically mean new tech investments are on the horizon to increase the efficiency and reduce the cost of mortgage operations across an organization. Before you can see any of these investments pay off, technology implementation must be prioritized. How can you be sure these projects go off without a hitch? LoanLogics has a sound…
According to one all-in Non-QM lender, the sector is expected to see a leap into near double digits in 2022, growing from 5% to 10%. This is already on top of the staggering figure of $18.9 billion that this segment pulled in during 2020. When you survey the landscape it’s easy to see why opportunity is ripe. Generally speaking, we…
When the house you love starts to show worn flooring, loved appliances and outdated fixtures it’s time to renovate. Most of us don’t have the budget to renovate the entire house. Nor do we have the capacity to do it all at once. Neither living with mom or in a construction zone is ideal. That’s why so many of us…
