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Are You Re-Evaluating Your Origination Tools? Here Is Where To Start

2022-10-24T08:53:15-07:00Private Money Lending|

Many lenders are taking advantage of the current decline in the number of new originations to inventory the instruments available for risk reduction and workflow efficiency. However, the state of residential mortgage originations has also sparked increased attention. As a result, many lenders now [...]

How The Upcoming Tax Season Will Be Different For Servicers

2022-10-24T08:52:05-07:00Private Money Lending|

Every tax season is difficult since little happens, or at least not much, until the time the taxing authorities release their bills, and the taxing authorities frequently alter the release and due dates. For instance, a county with over 1.8 million assessed parcels, one [...]

How to Maintain Loan Quality in a Rapidly Changing Market

2022-09-29T06:35:39-07:00Private Money Lending|

It is not surprising that the likelihood of mortgage fraud has grown this year, given how much the market is changing. Housing Wire reported on a CoreLogic mortgage fraud report on September 12 that stated that the risk of income (which increased by 27.3%) [...]

How Loan Originators are Dealing with a Mortgage Rate Lockdown

2022-09-29T06:35:12-07:00Private Money Lending|

According to a Michigan retail loan officer, business is at a "dead halt." The LO, who has more than 20 years of experience in the sector, said it is sad to see offers vanish with mortgage rates virtually doubling from 2022 onward. Who is [...]

What You Should Know About Regulation X: The Real Estate Settlement Procedures Act

2022-12-05T23:32:51-08:00Private Money Lending|

One of the more notable federal laws governing mortgage lending is the Real Estate Settlement Procedures Act ("RESPA"). RESPA, also known as Regulation X, was passed to control loan settlement practices for consumer loans. Lenders, brokers, and title firms who provide loans for domestic, [...]

Everything You Should Know About Regulation Z: The Truth in Lending Act

2022-12-05T23:29:58-08:00Private Money Lending|

TILA, commonly known as the Truth in Lending Act or Regulation Z, is a 1968 federal law. Congress first enacted TILA as part of the Consumer Credit Protection Act to safeguard consumers from unfair credit practices. Due to the several amendments that have been [...]

MBA Urges White House to Cut MI Premiums

2022-09-29T06:33:29-07:00Private Money Lending|

The Mortgage Bankers Association (MBA) has recently urged the White House and the Federal Housing Administration to lower annual Mortgage Insurance Premiums (MIP) in light of the historically low level of housing affordability and the way that rising consumer prices disproportionately affect lower- and [...]

Learning Platforms for Mortgage Professionals

2022-09-29T06:33:08-07:00Private Money Lending|

Looking for a quick and simple method to remain current on news, trends, and technology in mortgage lending? With shows that cover industry updates, business guidance, and the experiences of other pros in the mortgage sector, podcasts are a fantastic resource for mortgage professionals [...]

Fed’s Beige Book Offers Sad News for the Housing Industry

2022-09-29T06:32:37-07:00Private Money Lending|

According to the Fed's most recent Beige Book report, house sales have decreased across all 12 Federal Reserve districts due to the economic impasse between rising interest rates and inflation. The likelihood of future progress is also remote. According to the report, the forecast [...]

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