At LoanLogics we’ve been talking a lot about the latest mortgage industry trends with the hopes that it pushes the industry to do something different this year to effectively deal with them. As the reverification manager for the company, I too see and experience the impact of distinct trends during Pre-Funding, Pre-Closing, Post-Closing, Early Payment Default (EPD) etc, reviews in…
It seems like just yesterday the pandemic was fanning the flames on the importance of post-closing reverifications of income and employment. While some of that economic volatility has settled down, two years later reverification is still just as significant but for different reasons. In a purchase market, one that’s forecasted to grow 9% this year*, heightened fraud risk comes with…
We are now in unprecedented times, and the importance of verifications and reverifications are even more heightened as the industry deals with the current health crisis triggering a tsunami of unemployment and economic strain. Advancements have been made in the industry to streamline the verification process, certainly helpful in a time like today, which ends up having a downstream…
Following the great interest we had in our 2019 six-part blog series, “Millennials Mortgage Process,” which followed one of our colleagues on her home buying journey, we are back in 2020 with a new take on generational perspectives in the mortgage industry. Riffing off a fairly well-known and controversial 2019 meme, “Ok, Boomer,” we are kicking off our “Hey, Boomer.”…
