The most recent Zillow Housing Confidence Index (Where do all these reports come from?) indicates that although many homeowners think now may be a good time to sell their home, they do not believe it is a good time to buy. (Housing Index) That creates a little problem. If existing home owners won’t sell, or buy, and builders aren’t building…
According to MBA’s 2016 second quarter Quarterly Mortgage Bankers Performance Report, Independent Mortgage Bankers income more than doubled over what was earned in the first quarter. Hooray for Brexit, low rates and good old fashioned hard work and ingenuity. Mortgage Bankers did what they do best. Make loans and make money while doing so. Once again, Independent Mortgage Bankers demonstrated…
Introducing the New Improved URLA Don’t look now! Hot on the heels of the system and technology modifications and updates needed to finalize the handling of the disclosures required by TRID, we see the new improved Uniform Residential Loan Application (URLA) looming on the horizon. This new application is being touted by the Agencies as a benefit to both consumers…
Credit Data Just got Bigger Beginning September 24th, Fannie will require lenders to utilize the new improved credit data provided in reports by Equifax and TransUnion. These new reports will utilize trended credit data as opposed to the static FICO score. (Trends) Years ago, we were told that these repositories created a much better process to evaluate a consumer’s credit…
In today’s digital world, websites are able to generate advertising dollars based on content and clicks and views of the site. The more clicks (views) the more successful the site and the more advertising dollars can be generated. So, just as it is with news print media, news outlets seek creative ways to draw attention to their site. One day…
In the interests of time, expense and competition, FHA and Private MI companies offered lenders a delegated process for loan insuring. This was great for everyone until the spit hit the fan in 2007. All of a sudden, these loan insurers were carefully reviewing every detail of each defaulted loan to identify any possibility of a lender’s failure to strictly…
