BLOG VIEW: In recent years, change has been synonymous with challenge. Although many regulatory changes have created added burdens for lenders and other mortgage industry participants, it’s important to acknowledge the changes simplifying mandatory processes. Consider, for instance, the Federal Housing [Read More]
BLOG VIEW: Increasingly, shopping is being done online these days – and shopping for a mortgage is no exception. Millennials, in particular, are likely to at least start the process of looking for a home loan online. As that segment [Read More]
(Editor’s note: “Closing Time” is a new, semi-regular “Blog View” series brought to readers of MortgageOrb by the folks at Velocify, which offers an automated marketing and sales platform geared for the mortgage industry. To read the first post in [Read More]
BLOG VIEW: Mortgage rates have been consistently below 4% since New Year’s Eve, and there’s no reason to think they will suddenly soar. If anything, the market forces behind the lending process are pointing down in a way that may be [Read More]
BLOG VIEW: We hear a lot about the constant changes in the mortgage industry. During the last few years, most of the changes have been due to new regulations and the need to be compliant with them. Companies have used [Read More]
BLOG VIEW: Appraisal management companies (AMCs) in Iowa are now required to comply with a new set of requirements and conditions, as mandated by a recently enacted bill. The bill includes provisions on the conditions under which AMCs in Iowa may [Read More]
BLOG VIEW: A highly reliable source indicates there are more people wanting to buy homes than there are willing to sell them. The National Association of Realtors’ Housing Opportunities and Market Experience Survey from the first quarter of this year [Read More]
If you think the Home Equity Conversion Mortgage, or reverse mortgage, is a relatively new product, you had better think again.
BLOG VIEW: In Idaho and across the country, the appraisal management industry is still young, but a new law passed by the state will further define and establish the profession. The new surety bond requirement is perhaps the most major [Read More]
BLOG VIEW: At first glance, there has never been an easier time to get a loan. Financial institutions and lenders saturate the market with offers of low-cost credit – all promising quick approval.
BLOG VIEW: There are lots of great reasons for mortgage lenders to adopt the e-mortgage, but one huge benefit that sometimes gets overlooked is the tremendous savings on paper. According to recent research conducted by e-signature technology firm SIGNiX, a [Read More]
It may be that TRID’s apparently negative impact on the bottom line is less certain than initial numbers suggest.
CLOSING TIME: By most accounts, 2016 should be a solid year for mortgage lending. The Mortgage Bankers Association is predicting the best year for purchase loans since the Great Recession, with volume projected at nearly $1 trillion. And yet, I [Read More]
Only about 10% of existing HARP borrowers have refinanced, according to Freddie Mac, so there are a lot more who could emerge as refinancing candidates.
BLOG VIEW: Mortgage lenders have traditionally wanted both an origination fee plus points when making a loan, but now there’s evidence that such charges are going the way of landlines and boom boxes. Research from Freddie Mac shows that points [Read More]
BLOG VIEW: Because the private mortgage insurance industry plays a major role in helping first-time home buyers by lowering the down payment requirements, it has a unique view on the hurdles that first-time home buyers face. Private mortgage insurers have [Read More]
BLOG VIEW: The mortgage industry continues to make significant strides toward innovation. Across the board, lenders and their various partners have automated several key processes in an effort to remain compliant, become more efficient, reduce costs and better serve the [Read More]
There are ways to build bridges between disparate systems to create an improved customer experience.
“The CFPB’s objectives in taking these actions are questionable, since consumers already could complain about marketplace loans using the CFPB’s existing loan categories.”
BLOG VIEW: As compliance becomes more of a focus for lenders and servicers, they must review their business processes and policies to ensure they will not get slapped with any fines that could potentially damage their reputation or, worse yet, [Read More]