We all sang and heard the childhood nursery rhyme. But, Mary really never reveals how she makes her garden grow. Maybe, it’s her secret to success. One she doesn’t want to share with her competition. Guess we’ll never know. At the MBA’s Independent Mortgage Bankers Conference in Florida, attendees heard from Todd Duncan, founder & CEO of High Trust of…
In case you haven’t heard, there are some changes going on down at the CFPB. The new Administration is trying to foster a more business-friendly atmosphere while maintaining the CFPB’s mission of consumer protection. Can it be done? Only time will tell. The conversation, or should I say debate, has begun. With Mulvaney now as Acting Director, moves are being…
Fraud has always been a problem for mortgage lenders. But, now it’s starting to really get interesting and expensive. In the past, instances of fraud mainly centered around the consumer trying to get away with providing misrepresented information to get approved for their loan. Some instances dealt with unscrupulous parties creating bogus loans based on fictitious information to reap some…
Excuse me if I take a little detour from business to congratulate my hometown Eagles for winning what may be considered the biggest game in their storied franchise history; the Super Bowl. I can finally say the Philadelphia Eagles are World Champions. What a team, what a game, one off my bucket list. It just goes to show what careful…
The CFPB just released their new 2018 LAR (Loan/Application Register) formatting tool, with updates to their 2018 HMDA data reporting Instructions Guide. These can both be found, along with other HMDA data reporting requirements, on the CFPB HMDA Website. This new tool should be used for the reporting of the new required HMDA data collected by lenders in 2018 for…
One of the byproducts of the housing crash was that many of the large commercial Banks discontinued offering FHA insured mortgage loans. In fact, at present, only two of the big guys are still originating under the FHA program; Wells Fargo and Flagstar? Both also offer a huge correspondent loan program allowing many non-bank lenders to originate these loans as…
