Could the gains we made on loan quality and compliance over the past few years be slipping away? I sure hope not. Lenders worked too hard. This could be the case. According to the First American Loan Application Defect Index, their last reporting period showed its 7th straight month of defect increases. The index measures the frequency of defects, fraud,…
Retail mortgage lenders are constantly looking for technology to find better ways to streamline their methods to take loan applications, gather loan information, approve and close loans. This helps minimize expenses so they can keep prices down to better compete in this highly competitive market. But what about the companies that buy their loans? Known as Correspondent Lenders or Loan…
Over the last month or so, aside from Russia, all we read and heard about in the news is the repeal and replacement of Obamacare and the epic fail by the Republicans in their attempts to do so. This is a passionate concern of many Americans, regardless of their political persuasion. People care deeply about the issue and those who…
In a world of social media and digital advertising, what is the best way to get noticed by potential users of you and your products? Many Realtors and Loan Officers are turning to Snapchat and Instagram Stories. Each will get out the word, just a little differently. The vast majority of the users of these applications are under 34. It’s…
Think carefully before you answer. How many times, after closing, have you found that some information about the loan, the property, and/or the borrowers is inaccurate? The LOS data is only as good as the data that is input by humans… and humans make mistakes. Here’s a great article in DSNews about LOS data written by LoanLogic’s President and CEO (my boss),…
MBA recently announced two promotions in their regulatory arena. Justin Wiseman is being promoted to Associate Vice President & Marketing Regulatory Counsel, and Sara Singhas is being promoted to Associate Regulatory Counsel, mainly responsible for all servicing issues. Congrats to both! These promotions are the result of the retirement of Ken Markinson, current MBA Vice President, and Regulatory Counsel. Well…
