The D.C. Circuit's 2016 decision in PHH Corp. v. Consumer Financial Protection Bureau, 839 F.3d 1, reshaped how lenders, brokers, and partners structure referral arrangements under RESPA Section 8. The case rejected the CFPB's view that captive reinsurance arrangements automatically violate Section 8, holding [...]
A private lender has two repeat-business channels: direct borrowers and broker partners. Both compound, but they compound at different rates and reward different operational disciplines. The lender who runs both knows which lever moves which channel.What is the structural difference between the two channels?Direct-borrower [...]
The payoff is the lender's last operational signal. Borrowers remember it longer than they remember closing. The process below runs a payoff that earns the next loan rather than ending the relationship.How fast should a payoff statement go out?One business day from the borrower's [...]
Repeat borrower business is earned across the life of the loan, not at the rate sheet. Seven operational habits do most of the work. Each one is small in isolation. The cumulative effect across twelve, twenty-four, or sixty months of servicing is the next [...]
A first-time private mortgage borrower costs the lender real money to acquire — marketing spend, broker fees, underwriting hours, and the opportunity cost of every loan that did not close. A repeat borrower costs almost none of that. The same is true at the [...]
Note sale compliance is structured. Ten questions cover the territory most sellers and buyers face at closing.What notice does the borrower receive under §1024.33?For federally related mortgage loans, Regulation X §1024.33 requires the transferor servicer to send the borrower a Notice of Servicing Transfer [...]
A note seller has two structural choices: sell the whole note and exit, or sell a partial — a defined slice of future payments — and retain the tail. Each path preserves a different kind of value. The right answer depends on the seller's [...]
Five factors do most of the work in setting the bid price on a private mortgage note. The seller who controls them controls the trade; the seller who ignores them prices against the buyer's worst case.What is ITV and why is it the first [...]
The Supreme Court's 2017 decision in Henson v. Santander Consumer USA Inc., 137 S. Ct. 1718, reshaped FDCPA exposure for note buyers. The decision is short, clean, and load-bearing: a party that buys a debt and collects for its own account is not collecting [...]
The packet the buyer's due-diligence reviewer opens is the packet that sets the price. A complete packet closes at premium; a partial packet closes at discount or kills the trade. The process below assembles a seller-controlled packet that a buyer underwrites without curative work.What [...]
