I had the pleasure of speaking on the 2022 panel discussion, “Improving QC Strategies in Today’s Volatile Lending Market” during the MBA’s Risk Management, QA, and Fraud Prevention (RMQA) last week. My fellow panelists and I (Stephen W. Spies, CMB, Principal and Founder, at SWS Risk Advisors, Duane Gilkison, Senior Director, Credit Risk Management, for Fannie Mae, and moderator Brian…
Shrinking profit margins, resource constraints, and growing revenue goals are forcing lenders to rethink their mortgage application process. If you’re reading this, you’ve likely been considering (or doing) ways to automate some or all your application process. Some parts have been easier than others, (e.g., credit scoring) but others, such as income assessment, have been more elusive. But, if you…
Business is still booming. The June 18th MBA Mortgage Finance Forecast reported in Q1 2021 refinance and purchase volumes outpaced 2020 and Q2 would see similar upticks, with purchase activity holding strong through years end. All good stuff, particularly for an industry that already experienced such unexpected good fortune in the midst of a global pandemic. With all this focus…
Twenty-twenty, the year of the refinancing boom, reflected a profile of lower mortgage fraud risk. However, purchase loan fraud increased 9% over the prior year.[1] Another industry study also indicated that in the second quarter of 2020, one in 126 purchase applications showed indications of fraud.[2] As we roll into 2021, and by all estimates flip to a purchase market,…
Many might know LoanLogics as a QC company, but our technology and services support the needs of residential mortgage lenders, servicers, insurers and investors. Our capabilities span the loan life cycle providing oversight across origination, correspondent loan acquisition, MSR transfer and servicing. We are innovating in machine learning doc processing automation and mortgage quality control technology for our clients. The…
How is it that you came across this LoanLogics blog post today? Did you come by way of social media? The LoanLogics home page? Did a colleague forward this post along or do you sporadically pop into b-logics to see what we’ve been discussing as of late? Whatever the way, we are glad you’re here. Stay current with us and…
