Recent reports from lenders and QC vendors show that overall loan defects are on the decline, including defects related to the TRID rules. This is good news for lenders, the secondary markets, and the housing industry. Fewer defects mean better loans, better loans mean fewer delays with better performance and fewer delays with good loan performance contributes to a much…
Two recent reports, one by Fannie and another by Trulia, an online marketplace, indicate that consumers may be a little less optimistic when it comes to homeownership. The Fannie Mae Home Purchase Sentiment Index declined for the fourth straight month in November by about a half a percent (not much). This included information gathered both pre and post-election. Interestingly, Trulia…
Don’t look now but among all the talk of the new Trump administration’s defanging of the CFPB, the CFPB has fined three Reverse Mortgage lenders for deceptive advertising. According to CFPB all three, American Advisors, Reverse Mortgage Solutions, and Aegean Financial used inaccurate advertising to promote their reverse mortgage product to unsuspecting seniors. That’s no so nice. According to statements…
More and more lenders are providing consumers with online capabilities to obtain information about products offered and make application for a mortgage loan. More and more consumers desire and expect these capabilities when making their decision on which lender they choose. To stay competitive as a mortgage lender you need to offer the consumer the option to communicate through online…
Home prices increased about 6% over 1 year ago, and are projected to continue to rise at a rate of about 5% over the next year. That’s a pretty good jump in values over a two-year period creating wealth for existing homeowners in the form of increased home equity. What this means is that these homeowners have access to additional…
This time to the tune of over $92 million in damages! As the result of a joint action brought by the US Attorney for the Southern District of NY, the US Attorney for the Southern District of Texas, Julian Castro, as HUD Secretary, and HUD’s Inspector General, Allied Home Mortgage Capital Corp., and Allied Home Mortgage Corp. (collectively “Allied”), plus…
