As it was said to a young Peter Parker (aka Spiderman) by his Uncle Ben. This is now so true when it comes to non-bank lenders increasing their share of FHA loan originations. Did you know it is believed that this quote actually dates back to Voltaire? A variation dates back to Jesus Christ (Luke 12:48), “To those who much…
Last week there was some rumbling about the possibility of the CFPB extending the start date for the required new TRID rules. Don’t get your hopes up (TRID Rule). CFPB is now making it quite clear that they have no intentions of extending the August 1st deadline. The requirements for the new rules and new forms will take effect for…
This is my favorite sports time of the year. I love the World Series, Super Bowl, the NBA and Stanley Cup Finals. But, for me March Madness takes the cake. In the professional sports, the athletes are pampered and overpaid, playing as much for themselves as they do for their team. Don’t get me wrong, I cheer just as hard…
Does your Firm originate USDA loans? If so, you should be aware of the recent enhancement in the past three months in which the USDA’s Lender Loan Closing system was modified to permit the electronic issuance of Loan Note Guarantees. Now, there’s an even larger technological enhancement. Beginning on March 28, 2015, the USDA’s Government Underwriting System (GUS) will be…
I just attended the 32nd Annual Regional Conference of MBAs in Atlantic City, NJ and it seems things may be looking up for lending in the next few years. The residential conference opened with an uplifting performance by
Processing a Loan Application with an Amended Agreement of Sale? Don’t forget about the Appraiser! In Circular Letter 26-14-29, the VA issued instructions to lenders relative to their responsibility in providing a copy of the Agreement of Sale on a purchase transaction to the assigned appraiser at the time of the appraisal assignment. In this regard, appraisers are required to…
