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…
Are You Prepared? Several months ago, HUD/FHA released a draft copy of its “Origination through Post-Closing Endorsement” Handbook (4000.1) on its website. Most noteworthy is the fact that the policy & procedural changes that are being implemented by HUD/FHA via this Handbook are scheduled to be effective as of June 15, 2015 – which is now less than 3 months…
Just a reminder, as if you need it, the new TRID rules become effective with loan apps taken as of August 1, 2015. Besides the two new disclosures that everyone is preparing for, there is another big change. With an application, you need to provide the consumer with a new settlement cost booklet (New Booklet). Like the HUD-1, the current…
It’s spring and a time when a young man’s fancies turns to love, and a Realtor’s and mortgage lender’s fancies turn to the spring buying season. The timing is good. According to study recently released by Nationwide Economics the housing market is the healthiest it’s been since 2001 with less chance of a downturn like we recently experienced (Housing). That’s…
Okay, here’s a new one. Have you heard about this? Your Quality Control audits may work against you in a court of law (Hazardous QC). Wells Fargo may get slammed in court partly as a result of the findings from their internal quality control audit findings. Now, ain’t that a hole in the boat? With all the recent chatter about…
Well, it is finally April and thoughts of many Americans are to seek an extension from the Federal Government regarding the filing of their Tax Returns. However, the topic of this Blog Post is not income taxes but two widely discussed mortgage industry initiatives that have effective dates looming and extensions being sought by many entities. In Mike Vitali’s, B-Logics’…
