They say that anyone who represents themselves in court has a fool for a client. I am not calling any lender a fool. But, there are situations that require an expert in order to achieve the desired result. Even with all of the recent changes in the GSE Representation and Warranty framework and HUD’s Indemnification Policy, lenders still have uncertainty…
As you should know by now, the Senate voted to roll back the CFPB’s rule banning arbitration clauses in loan documents. It was very close and needing a simple majority required the vote of the Vice President to break a tie. That is quite telling in itself. The Senate vote means that lenders can require a consumer to submit to binding…
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…
