On June 17, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it would re-examine a rule determining which mortgages are exempt from some litigation during foreclosures. In a blog post, the government agency said it would review its Qualified Mortgage (QM) rule. The [...]
Here are three pointers to consider as you expand your mortgage broker firm. Make Realistic Goals You can set ambitious goals, but remember that they must be attainable. For example, what is the maximum size of your mortgage broker business? How much money do [...]
According to lenders and homeowners, the traditional in-person signing system has long been riddled with inefficiencies. Moreover, traditional techniques for completing in-person signings are not without their challenges; they have only become more apparent in recent years as digitization has increased in an increasingly [...]
Companies continually deal with high volume and tight regulatory supervision while managing a huge cohort of vendor partners, from mortgage origination to servicing. To be competitive when the pressure is on, lenders must provide higher levels of customer satisfaction, lower costs, or both. Increased [...]
It's more crucial than ever to nurture existing borrower connections in the face of a competitive buying market. In light of this, HW Media CEO Clayton Collins spoke with Steve Reich, COO of Finance of America Mortgage, to learn more about the strategies used [...]
Until the end of May, the mortgage industry has to comment on the Federal Housing Administration's (FHA) proposed 40-year loan modification regulation. While four major trade associations expressed approval, they also suggested some changes. The Mortgage Bankers Association, Housing Policy Council, National Association of [...]
With production volumes leveling off and non-QM originations on the rise, lenders' desire to concentrate resources and costs on the front end of the business may lead to additional subservicing opportunities. Midsize lenders are ideal candidates for subservicing while offering servicing control to a [...]
Lenders are looking to take advantage of anticipated downtime by upgrading their internal processes as 2022 proves to be a difficult year for the lending industry. Lenders compete for time and resources all the time. The last two years have been spent completing, shipping, [...]
According to a Fannie Mae study released in mid-May, mortgage lenders find benefits in appraisal modernization, particularly in introducing non-traditional appraisals and inspection-based appraisal exemptions. However, when it comes to what they are investing in, they have a few more important considerations. 94% of [...]
After investigating whether companies claiming exemption because they rely on "complex algorithms" violated federal anti-discrimination law, the Consumer Financial Protection Bureau confirmed on Thursday, May 23rd, that all lenders must explain their rationale when denying credit to loan applicants. According to legal experts, the [...]
