Recently, LoanLogics CEO, Brian K. Fitzpatrick, appeared on Executive Leaders Radio, a show that conducts “elite interviews” of prominent CEOs, CFOs, and Presidents focusing on “what makes people tick.” The ten minute on-air interviews are really informal POSITIVE conversations. Guests may be asked about their background education, influences, mentors and early career experiences, asked about their business, what they do…
Mortgage Servicing Rights acquisition requires responsiveness between buyer and seller. A seller must accommodate the stacking order and documentation requirements of each buyer. A buyer must consume data and files in a timely manner to complete the acquisition process. Meg Guard, Vice President, Account Management and Craig Riddell, Executive Vice President and Chief Business Officer discuss the LoanLogics MSR acquisition…
Today we are going to discuss the confusion surrounding the application of real estate tax credits to the borrower’s closing costs and (MRI) minimum required investment, when applicable. If you are just as confused, this blog is for you. In some state’s property taxes are paid in the arrears which means that the borrower is paying for “services” the municipality…
Why Regtech is a Necessity for Reducing the Cost of Managing Mortgage Loan Quality This overview of our “Regtech Explained” whitepaper is an invitation to read our latest whitepaper on Regtech. The full whitepaper is free and shows how the mortgage industry has struggled with loan quality for decades and explains that the problem is only getting worse. Even as more…
Many of the industry’s correspondent lenders have assembled a series of incomplete technology systems to perform the various complex functions of closed loan acquisition. This approach was born out of necessity since a complete system that meets the end-to-end needs of correspondent loan acquisition has proven elusive. Rather than spending millions of dollars to build a proprietary system, most correspondent…
Automation provides a wealth of benefit to any manual process, inlcuding speed (file reviews in under 5 minutes), accuracy (99% for data validation) and traceability (audit trail of defects), to name a few. But, in the case of HMDA, lenders are often surprised to find that it brings three unique value-adds to their reporting process. Automation can eliminate “check the…
