Revisions to the Revised HMDA Rules With mortgage lenders just getting over the challenges created from the QM/ATR rules and TRID, they’re now faced with a new hill to climb; HMDA. CFPB just released a new proposal as Technical Corrections and Clarifying Amendments to HMDA. These are intended to update and clarify the new HMDA final rule it issued in…
It’s important for any business to have a profile of the customers they serve. It’s no different in mortgage lending. Yes, it’s easy to think that a mortgage lender’s customer is obviously someone who is financing a home, but there’s a little more to it. That’s a little like thinking that everyone coming to a wedding will dance to the…
I am very happy to announce that MarketLogics™, our free, daily newsletter, is now featured on Lykken on Lending Radio each week. The newsletter includes: Our nearly-famous song parody’s Market Summary Interest Rate Outlook Volatility Outlook Yield Spread Outlook Long Term Technical Outlook Intraday Technical Outlook MarketLogics Live! is a synopsis of one or two of these insights and, of…
I find it quite interesting to scan the daily headlines covering housing and mortgage lending. (I know, I gotta get a life!) Seriously, some recent headlines indicated: Mortgage rates tumble, but may head back up; Rates at 2017 low and may stay low; Application volume is down; but Credit availability is up What’s your take on rates, the housing market,…
Here’s an excerpt from a recent response written by Congressman Tom MacArthur, R-3rd of Toms River, New Jersey, to a letter to the Editor of the Burlington County Times. There’s more going on in NJ than Bridgegate and the Sopranos. “I’m writing in response to a recent letter to the Editor, “Dismantling consumer finance protection is a very bad idea”…
United Wholesale Mortgage (UWM), one of the nation’s leading wholesale mortgage lenders announced they now offer Brokers a completely digital platform for loan originations. Meet “Blink” (Borrower Link). According to a release by UWM, their new Blink system allows Brokers to compete with large lenders that offer online applications and a digital loan experience. Just like QuickenLoans’ Rocket Mortgage. The…
