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…
In this age of social media and instant information, lenders need to be able to communicate with applicants in a real time environment. Today’s consumers do not want to wait for scheduled meetings or information sent via snail mail. Lenders must embrace technology like never before; not just to compete, but to survive. In additional to online applications, lenders need…
Like a river, the economy must keep flowing. Sometimes it may get dammed or re-routed but it’s got to keep moving. It cannot stand stagnant. That isn’t good for anyone. Based on all indicators it appears the economy is moving (growing) and with the election of Mr. Trump, conventional wisdom is it will grow even more. It seems that should…
