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…
I believe the biggest challenge facing lenders today is not complying with the upcoming TRID changes or anything in the regulatory area, but how and by whom they originate business in the future. We are an industry dominated by production, with a constant drive for more and more business. Look at job boards and postings and you’ll find the vast…
Prior to running down to the Annual Regional Conference of Mortgage Bankers Associations in Atlantic City, I was checking today’s industry headlines. Let’s see, we have articles about: The increased cost to buyers with FHA financing FHA Costs) Supreme Court’s Ruling on OT for LOs (LOOT) Consumers now think it is easier to get a mortgage (Consumers) US unrealistic…
Lenders – are you utilizing Service Providers (or Third Party Vendors) to assist you in your Operations? If so – are you properly monitoring the associated risks in employing such Firms? Read on! The Consumer Financial Protection Bureau (CFPB) fully expects supervised banks and non-banks to properly manage the associated risks with employing service providers (or third party vendors). These…
