In less than two months, on March 19th, desktop appraisals will officially transition from a 2020 covid flexibility to a long-term reality for some GSE products. As a result, the Post-Closing QC appraisal field review for many conventional loans is no longer required. Replacing the field review requirement on 10% of conventional loans in Post-Closing QC samples, is a Collateral…
Late 2021 LoanLogics, a leader in loan quality technology, acquired LoanBeam. This was a natural acquisition for LoanLogics as they look to expand their technology platform to include income calculation. And for LoanBeam, it made sense to align itself with one of the mortgage industries smartest document classification platforms, improving overall turn-time and quality of our output. As the Head…
Last week LoanLogics’ director of data governance, Mike Bixby, was named a 2021 MISMO Outstanding Contributor. The Outstanding Contributor award is presented from the MISMO staff to the person who stood out over the course of the past year with their contribution to the organization as a whole. Mike has been active with MISMO for more than two decades and…
In an October blog post summarizing insights learned at the 2021 RMQA forum, we covered the latest industry defect trends. According to Freddie Mac, 4% of the QC reviews the performed in 2019 resulted in repurchase. That number grew to 6% in 2020 and through August of 2021 that number was already at 8%. They also reported that multiple deficiencies…
2022! New Year, new budgets, right? Both typically mean new tech investments are on the horizon to increase the efficiency and reduce the cost of mortgage operations across an organization. Before you can see any of these investments pay off, technology implementation must be prioritized. How can you be sure these projects go off without a hitch? LoanLogics has a sound…
Wow, where did 2021 go? Like for many of you in the mortgage industry it was another busy year for LoanLogics! We had so many exciting announcements and initiatives it’s no wonder we looked up and it’s almost 2022. ICYMI (In case you missed it) or some of what we were up to this year here are the highlights, our…
