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So far Note Servicing Center has created 325 blog entries.

New York Bill that Would Change the Statute of Limitations on Foreclosures Affects Lenders


A bill in the New York Senate may drastically reduce the time it takes for a lender to start a foreclosure process. The bill introduced by James Sanders Jr. (D) of the 10th Senate District, nicknamed the Foreclosure Abuse Prevention Act, mandates that once [...]

California Supreme Court Ruling Could Spell Trouble for Private Lenders


Recently, the California Supreme Court issued a judgment in a case that sent shockwaves through the lending sector, determining whether interest rates are "unconscionable" under California's Unfair Competition Law ("UCL"). Although the case originated in consumer finance, it is conceivable that this precedent will [...]

3 Questions Lenders Should Ask Before Implementing Non-QM

2022-03-24T07:44:58-07:00Private Money Lending|

With refinance volumes expected to drop by 62% this year and many originators facing layoffs, lenders seek non-QM products to broaden their offerings and obtain new business to stay profitable. So, what should lenders know before adding non-QM products to their portfolios? How are [...]

How to Proactively Maintain Fair Lending


The Consumer Financial Protection Bureau (CFPB) has continuously shown over time that fair lending and fair servicing are the same and that fair lending affects the servicing of mortgages. However, recently, specific servicing problems have been raised by the CFPB regarding this, including CARES [...]

CFPB Proposes Changes to HMDA Reporting Requirements that will Benefit Lenders


The Home Mortgage Disclosure Act ("HMDA") data collection and reporting standards were recently changed by the Consumer Financial Protection Bureau ("CFPB"). According to the new regulation, insured depository institutions and credit unions are excluded from certain HMDA criteria if they generated less than 500 [...]

What Opportunities Do Lenders Miss Out On By Not Focusing On Credit?

2022-03-18T07:32:59-07:00Private Money Lending|

With loan volumes in the business already declining, lenders are looking for new ways to meet their growth targets. Several opportunities are available for lenders that focus on credit, especially early in the mortgage origination cycle, all across the consumer credit range, without exception [...]

Affordable Lending Requires Creative Thinking


This year, the mortgage business will see a shift in trend forecasts, as experts informally name a "color of the year" in the industry. For example, affordable, underserved, accessible, and equity are all current keywords in the mortgage sector. In addition, mortgage lenders must [...]

Consumer Engagement Solutions for Lenders to Win a Borrower’s Business for Life


This year, lenders' efforts are projected to change from operational efficiency in the high purchase and refi volumes to expanding sales volume and competitive differentiation in a market dominated by purchases. In 2022, the ability of lenders to compete will come down to their [...]

CFPB Issues Final Rule Loosening HMDA Requirements


The Consumer Financial Protection Bureau (CFPB) recently announced a proposed rule package that contained temporary HMDA data collection and reporting thresholds for open-end lines of credit. The rule also established partial exclusions for lenders from certain HMDA standards included in Congress's Economic Growth, Regulatory [...]

California Passes AB3088 – Some Relief for Lenders


AB 3088 is an omnibus law that brings together several past tenant and landlord protection bills. For months, the American Association of Private Lenders has been at the vanguard of the legislative fight against these measures, first with opposition to AB 828, then with [...]

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