Way too many years ago, when I first started in the mortgage business, the emphasis was still on loan originations. But, it was also on the loan’s ongoing performance. Lenders originated but most also serviced the loans they made. Independent Mortgage Lenders and some Banks originated government loans that were sold into Ginnie Mae pools. Other Banks and S &…
In a constant search to find ways to help consumers improve their credit profile, U.S. Bank has partnered with Sage Software to provide their customers’ access to a new accounting product dubbed AP Organizer (Improved Credit). U.S. Bank believes that doing so will help their customers, especially Millennials, find ways to better manage their resources to improve payment patterns on…
The days of mailing postcards to neighbors announcing the sale of a local home may be coming to an end. Bad news for those postcard makers; but, good news for Realtors and lenders. Is it good news for homeowners? Using ‘Big Data’ and proprietary marketing systems, Realtors may be able to identify those homeowners within a specified area that are…
Beginning in 2019, lenders must report an additional 24 loan data elements under HMDA, collected for loans originated in 2018. This means lenders must be prepared by January 1, 2018, to capture these data elements. A complete list of the required data can be found at HMDA. Lenders have expressed concerns with the additional consumer information being captured. Does this…
Recently, we’ve read and heard much about what needs to be done to improve homeownership opportunities. A recent survey shows that many Americans are concerned with the housing market and believe the presidential candidates need to address this issue. The surveys say the lending industry and the government need to do more. Is this true or is it that consumers…
Today, communication on social media is quite common. People are constantly texting, tweeting and posting information, both personal and professional. No different with many mortgage lenders and so too their loan originators. It’s how we communicate, especially with the Millennial generation. Not just Millennials are paying attention to what gets posted on social media when it comes to mortgage lending.…
