As you may know, LoanLogics (the company I work for) is a vendor to the mortgage industry. We provide technology, technology platforms, and reporting, to lenders for quality and risk management, MERS reviews, correspondent lending, portfolio monitoring and much more. You can view all our services at our website. As a service provider we are required by our clients, under…
It’s an old song, sung by performers like Elvis, Willie Nelson, and Al Green. They talk about what goes around, comes around, and sooner or later “you’re gonna pay” in love and in life. Things ain’t so different in business. If you do right by your customers, then they’ll do right by you. If you cut corners, look for shortcuts,…
Recently, Rep. Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee, announced that his Committee will hold new hearings to discuss the provision of the amended CHOICE (Creating Hope and Opportunity for Investors, Consumers, and Entrepreneurs). You can’t make this stuff up! The new version, known as CHOICE 2.0 is intended to replace the controversial Dodd-Frank Act and reshape…
You’ve probably seen the commercials on TV with a bank security guard or a guy looking like a dentist, where they say they are just a ‘monitor’ but don’t do anything about what they find. It’s funny for a commercial, but not so funny to the bank or the patient needing dental work. Today, with so much emphasis placed on…
Fannie and Freddie previously announced programs for lenders to obtain some relief from their reps and warrants for quality loans. Fannie recently expanded such access to relief under their new Day 1 Certainty program. (D1C) Under D1C, a lender may get complete relief from the normal required reps and warrants associated with employment, income, and/or asset information/documentation. There are some…
Okay, who thought it would be a good idea to bring their kids to work? It seems a little counterproductive to me. Maybe, they thought it was a great opportunity for parents to bond with their children while the kids got a chance to see what the heck mom and dad did all day; while they slaved over tough subjects…
