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Mortgage Industry Trends

Competition and Declining Profits Leading to Easing Credit

According to Freddie Mac, we’ve hit the high point for 2017 loan originations. New business is now expected to decline over the next two-quarters. Further, although purchase volumes are projected to increase in 2018, overall originations are expected to be less due to the decrease in expected refinances. This is not good news for struggling mortgage lenders. According to the…

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Mortgage Industry Trends

Predicting Mortgage Default Risk is Like Predicting the Weather

With all the sophisticated equipment and computer models forecasting, the weather is still not an exact science. It all depends on which way the wind blows. It seems that predicting mortgage default rates is about the same. According to recent reports on default risk: The Universal Financial Associates (UFA) Default Risk Index says it’s up 25% over 2016 Corelogic says…

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Mortgage Compliance

Fannie Issues Guidance on NCAP Changes

In case you didn’t know, NCAP is the National Consumer Assistance Plan. Under this plan, the 3 credit repositories will no longer report most civil judgments and tax liens, or unpaid medical bills less than 6 months. They say it’s because, in many cases, these issues are not accurate and they may negatively impact a consumer’s credit profile and score.…

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Mortgage Compliance

What’s The National Consumer Assistance Plan?

The National Consumer Assistance Plan is an initiative launched by the three nationwide consumer credit reporting companies – Equifax, Experian, and TransUnion – to make credit reports more accurate and make it easier for consumers to correct any errors on their credit reports. Under the plan, which was launched in March 2015, the three companies are taking a number of steps…

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