Driven by several economic factors, lenders who held mortgage servicing rights (MSR) in their portfolio in 2018 saw more profitability than those without, according to recent comments made by the MBA’s Vice President of Industry Analysis, Marina Walsh. In fact, servicing income more than tripled year-over-year, increasing from $64 per loan in 2017 to $203 in 2018 loan.[1] That’s the…
The data requirements needed to manufacture and decision a loan seem to be ever growing, as do regulator and investor expectations. Data is distributed across multiple document types, the loan origination system and a multitude of other sources. All this information needs to be verified and validated to ultimately come to the source of truth and support confidence in loan…
It’s that time of year again when Servicers should begin working with their independent third-party reviewer to complete their mandatory annual MERS quality assurance attestation. Waiting until the end of the year does not allow time for a comprehensive assessment or time to set a remediation plan in place, which jeopardizes a servicer’s compliance position. As an experienced reviewer, LoanLogics…
Welcome back to the series, Millennials Mortgage Process! Today’s topic is about the best thing smartphones have given us in the last few years: Apps! There are a lot of different Apps to use when searching for and buying a home. Here’s a short list of the most helpful Apps I’ve been using for the past year: Zillow– I started…
The industry is a buzz with the how artificial intelligence (AI) and machine learning will change the way we work and the benefits it will create for labor intensive processes. LoanLogics has certainly been at the forefront of that transformative conversation in a number of recent industry articles and webinar on the topic What has been talked about less though is how organizational…
Welcome back to the series, Millennials Mortgage Process! In this post, I’ll explore my reactions to the ‘affordability’ of housing and how greatly Credit Score plays a role. As I prepare to apply for a mortgage and continue to scroll through Zillow at mini-mansions I know I could never afford (we all do it…), one thing keeps cropping up and…
