From The Orb

Barry Malone: Customers Appreciate Having Their Loans Serviced By Their Original Lender

Written by Patrick Barnard on June 09, 2017

PERSON OF THE WEEK: Barry Malone is senior vice president of sales for Financial Industry Computer Systems Inc., a provider of mortgage loan origination and mortgage servicing software. MortgageOrb recently interviewed Malone to learn more about the challenges of in-house [Read More]

Why Repealing Dodd-Frank Will Fail

Written by Peter G. Miller on June 08, 2017

The last time the Financial CHOICE Act was up before Congress, the bill went nowhere.

HMDA Changes Are Coming: Are You Prepared?

Written by Jennifer Cagle on June 05, 2017

BLOG VIEW: Nationstar Mortgage was recently fined $1.75 million for violating the Home Mortgage Disclosure Act (HMDA) by allegedly consistently failing to report accurate data about mortgage transactions from 2012 through 2014. This is the largest HMDA civil penalty imposed [Read More]

Mortgage Loan Solicitors In Vermont Must Get Bonded By Year’s End

Written by Todd Bryant on May 30, 2017

BLOG VIEW: A bill recently passed in the state of Vermont introduces changes to the licensing requirements for loan solicitors. According to the new bill, as of Dec. 31, loan solicitation companies and individuals will be required to obtain a [Read More]

Barry Hays: Servicers Must Reinvent Their Call Centers For Multichannel Millennials

Written by Patrick Barnard on May 30, 2017

PERSON OF THE WEEK: If you’re a mortgage servicer, you can safely assume that live phone communications with borrowers will become much less prevalent in the future. That’s because younger borrowers – millennials included – are much more inclined to [Read More]

Michael Wojcik: Appraisers Concerned About Growing Use Of Data And Analytics

Written by Patrick Barnard on May 23, 2017

Appraisers are concerned about the technology movement, including the use of big data and analytics, and how that might impact their careers in the future.

Refining Property Preservation Is Doable With Technology

Written by Bill Colby on May 22, 2017

Pre-foreclosure management of properties can be greatly improved with technology.

Conferences: How Prepared Are You To Make The Most Of Them?

Written by Barry Hays on May 22, 2017

BLOG VIEW: Like the swallows returning to Capistrano, most of us have annual pilgrimages that mark the seasons. We call them conferences. The mortgage industry is fortunate to have some of the best annual conferences of any business sector in [Read More]

Bob Dougherty: Data-Driven LOS Will Gain Favor Among Mortgage Lenders

Written by Patrick Barnard on May 15, 2017

PERSON OF THE WEEK: The loan origination system (LOS) is the core system and “workhorse” of any mortgage software ecosystem. These central software applications control the bulk of the mortgage origination process, from application through closing, including the automated processing [Read More]

MORNING COMMUTE: CFPB Seeks Feedback On Mortgage Servicing Rules

Written by Patrick Barnard on May 09, 2017

MORNING COMMUTE: Morning Commute makes its triumphant return after a four-week hiatus. And the music this morning was Allan Holdsworth’s “Road Games,” a fabulous jazz fusion record from 1983 and Holdsworth’s only release on a major label (Warner Brothers). On [Read More]

Can The Mortgage Interest Deduction Really End?

Written by Peter G. Miller on May 03, 2017

Is the mortgage interest deduction safe from extinction? Like much in Washington, D.C., one must read between the lines.

Rida Sharaf: Evolution Of REO Asset Management Drives Need For Deep Expertise

Written by Patrick Barnard on May 01, 2017

PERSON OF THE WEEK: Although it is true that the inventory of real estate owned (REO) properties has dropped nearly to pre-recession levels – and that mortgage delinquencies and defaults have fallen to pre-crisis lows – by no means is [Read More]

Can We Avoid A GSE Bailout?

Written by Peter G. Miller on May 01, 2017

Proposals to replace Fannie Mae and Freddie Mac with new firms will falter unless Congress okays a federal line of credit.

Blockchain: The Next Mortgage Industry Shake-Up?

Written by Jason Nadeau on April 26, 2017

Why blockchain technology will be the next big thing for the mortgage industry.

Self-Driving Technology And The Mortgage Industry: What Could The Future Hold?

Written by Pramod Karachur on April 25, 2017

Much like the automotive industry, mortgage lenders and their vendor partners are now in a quest to build a fully “self-driving” mortgage process.

Carlos Sa: Building Your Own Lending System Offers Many Benefits

Written by Patrick Barnard on April 24, 2017

PERSON OF THE WEEK: Although most mortgage lenders use “best of breed” or “out of the box” loan origination systems (LOS) from the top vendors, there are still plenty out there that have developed – and that continue to support [Read More]

CFPB To The Rescue: Revisions To The Revised HMDA Rules

Written by Michael Vitali on April 18, 2017

As is to be expected with any regulatory change, there has been some confusion and uncertainty surrounding these new rules.

Using Old Technology Is One Way To Drive Away Mortgage Customers

Written by Josh Friend on April 17, 2017

BLOG VIEW: When was the last time you used a fax machine? Can’t remember? Neither can I. Yet the other day, I found myself speaking with a company that could only take my order if I sent it via an [Read More]

Linn Cook: An Open LOS Gives Lenders Flexibility Today And Tomorrow

Written by Patrick Barnard on April 17, 2017

PERSON OF THE WEEK: Mortgage lenders everywhere are upgrading to e-mortgage capabilities, which means they are moving away from the traditional paper-based processes of the past and converting over to all-digital processes. That means lenders are increasingly investing in new [Read More]

Closing Time: Learning Lessons From AI

Written by Chris Backe on April 14, 2017

CLOSING TIME: In the classic sci-fi film “2001: A Space Odyssey,” two astronauts find their lives in jeopardy when an onboard ship computer thinks it is smarter than the humans that built it and takes over their space mission. A [Read More]