We heard some good news from Fannie! They are increasing their overall forecast for loan originations for 2017 and 2018 by nearly $250 billion. They are now projecting originations during the 4th quarter of 2017 to be about $427 billion. Any increase is good news for lenders. More good news came from the most current NAHB/Wells Fargo Housing Market Survey…
As it usually is after some major event that adversely affects anything, the politicians all come out with their “recommendations” for correction of the problem and ways to avoid it in the future. No, I am not talking about the horrific event in Vegas or gun control. I’m referring to the data breach of consumer non-public personal information at Equifax.…
Lenders know that any advertising done via social media outlets must comply with applicable related federal and state law. Such laws do not now contain any exceptions for the use of social media. These include, but are not be limited to: Equal Credit Opportunity Act (ECOA/Reg. B) Fair Housing Act Truth in Lending (TILA/Reg. Z) Real Estate Settlement…
You bet your sweet bippy it is* if you can find one. That’s according to the results of the most recent Fannie Mae Homebuyer Sentiment survey. The swaying factor is the result of current renters saying they believe that now is a good time to buy a home. This is happening despite rising rates, increasing home prices, and a diminishing…
With the increase of FinTech, technology to support financial service operations, comes RegTech, the technology to address and monitor regulatory compliance. Today, we have the makings of digital mortgages, consisting of online applications, verifications, approvals and closing; the paperless, virtual mortgage. FinTech companies and processes were created to enhance the consumer experience while improving their communication and engagement with financial…
I guess it took some strong lobbying. But, now two Congressman, Rep. French Hill, (R/AK) and Ruben Kihuen (D/NV) want to improve upon how title insurance premium costs are disclosed under TRID. This has been a sticking point with lenders and title companies since the TRID rules were finalized. It was not addressed in the most recent TRID updates. Rep.…
