A little while ago, McDonald’s saw their profits dropping. It came as the result of increased competition in the fast food market coupled with consumers’ tendencies toward healthier meal choices. What did they do? McDonald’s continued to offer their core products of burgers and fries (I think they have the best fries) to serve their base customer. But, they decided…
FHFA previously floated the possibility of adding another question to their new Uniform Residential Loan Application (URLA). This one has to do with an applicant’s preferred language, for communication. This question raised quite a few questions of its own. Industry participants are concerned that such a question might raise some operational and more importantly, legal challenges for lenders. Would it…
I came across an article that piqued my interest. It talked about the loneliness of today’s workers in an office environment. Not those who work on the road, remotely, or from home, but those who congregate each day at the office to perform their duties. Why would these people be so lonely when surrounded by all their counterparts? Maybe, because…
In a mortgage world of eased credit standards, Freddie Mac is tweaking how they will treat an applicant’s student loan debt. Today when an applicant carries student loans that do not indicate a specific monthly payment amount on their credit report, lenders must obtain documentation to evidence the monthly payment due. This can cause problems and delays. Student loans with…
In case you didn’t attend the National MBA Conference in Denver, here are some snippets on what’s going on. Fannie Mae Fannie Mae made some new announcements about more D1C authorized vendors and on expanding pilots to test out the use of single vendors for all required validations. They also announced their new Application Interfaces providing lenders with everything needed…
The recent hack of consumer personal information held by Equifax provides cybercriminals with multiple access points to consumer credit. Aside from the obvious threats to unlawful credit card use, the information obtained could offer the keys needed to open many more unlawful opportunities. The breach opened the door for access to Equifax’s The Work Number employment and income verification service.…
