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Industry News

Will Student Loans Kill the Purchase Mortgage Market?

Industry News - Wed, 06/18/2014 - 17:57
Student loan payments can be up to 20% of a graduate's current monthly debt obligations. Based on current housing ratios, that does not leave a lot of room for mortgage payments.
Categories: Industry News

CFPB Disregards Employment Classification to Find Kickbacks

Industry News - Mon, 06/16/2014 - 16:31
The Consumer Financial Protection Bureau recognized a distinction in terms of the treatment of persons working for a company based upon their classification as employees or contractors.
Categories: Industry News

Six Takeaways from the Epic HUD/Census Report on Home Building

Industry News - Fri, 06/13/2014 - 12:26
Among the revelations: A large number of single-family homes built in 2013 weren't sold that year; single-family units, surprisingly, kept getting bigger; cash sales remain higher than before the recession.
Categories: Industry News

CFPB Leading the Way on E-Close

Industry News - Thu, 06/12/2014 - 15:05
The CFPB believes that the answer to all of these problems lies in taking the paper completely out of the transaction and closing electronically.
Categories: Industry News

Financial Institutions to Fund Big Part of $40B NYC Housing Plan

Industry News - Tue, 06/10/2014 - 14:25
Though the bulk of the ambitious Housing New York plan is intended to build or rehabilitate rentals, there are several homeownership components as well.
Categories: Industry News

Have Delinquencies Really Declined - Or Just Relocated?

Industry News - Tue, 06/10/2014 - 14:00
Previously there were a few larger institutions assuming the majority of the risk in the mortgage servicing market, but now this risk is more evenly distributed across smaller institutions.
Categories: Industry News

The Most Important Thing About Originating Non-QM Loans

Industry News - Tue, 06/10/2014 - 11:05
By obtaining a third-party opinion that provides a reasoned analysis supporting borrowers' ability to repay, a lender places itself in a substantially stronger position with respect to subsequent ATR claims.
Categories: Industry News

Why the Single-Family Rental Securitization Trend May Last

Industry News - Fri, 06/06/2014 - 15:43
Risks and headwinds abound, but if smaller investors opt to pool their properties into multi-borrower securitizations, this market could materially grow. Lingering economic factors suggest large players will remain involved.
Categories: Industry News

E-Disclosures Take Flight in the Mortgage Industry

Industry News - Thu, 06/05/2014 - 12:47
Nearly twice as many direct lenders are offering electronic disclosures to consumers now as they were only one year ago, and most of the consumers are opting to use them.
Categories: Industry News

HMDA Data Offers Clues on Discrimination Against Gays

Industry News - Wed, 06/04/2014 - 17:46
While lenders do not survey applicants on sexual orientation for their Home Mortgage Disclosure Act reports, a look at the data on same-sex couple applicants is intriguing.
Categories: Industry News

CFPB Shows No Signs of Forgetting about RESPA

Industry News - Mon, 06/02/2014 - 15:29
Real Estate Settlement Procedure Act violations cited in a recent Consumer Financial Protection Bureau action suggest technical compliance required rises in line with the aggressiveness of past or present marketing.
Categories: Industry News

Converting Disappointed Borrowers into Evangelists

Industry News - Wed, 05/28/2014 - 19:10
One of the most difficult conversions for lenders to accomplish is turning a past customer into a future customer.
Categories: Industry News

Five Best Answers to 'When Will Nonconforming Secondary Return?'

Industry News - Tue, 05/27/2014 - 16:07
It could take quarters or years. It may require fatter yields to entice investors, or move-up homebuyers in need of jumbo loans. This much is agreed upon: Nobody really knows.
Categories: Industry News

It's What You Don't Hear About the CFPB that Can Hurt You

Industry News - Tue, 05/27/2014 - 15:26
The Consumer Financial Protection Bureau last week quietly issued over $70 million in fines to entities which have been through private settlements without specifying why. Here are some likely causes.
Categories: Industry News

What I've Learned About Borrower Satisfaction

Industry News - Wed, 05/21/2014 - 18:32
White papers don't always get much respect in our industry, probably because so many are just veiled brochures, pitching products and services.
Categories: Industry News

A Reminder of the Risks from Lending Through Third Parties

Industry News - Mon, 05/19/2014 - 15:51
Last month, BMO Harris Bank changed policies on auto lending to pay a flat percentage of the loan amount to auto dealers making loans (sound familiar?).
Categories: Industry News

Why Today's Mortgage Market May Be Worse Than After the Collapse

Industry News - Mon, 05/19/2014 - 10:00
The mortgage life support provided by the federal government since the crash is ebbing. It will be interesting to see if the industry can breathe on its own now.
Categories: Industry News

How I Single-Handedly Changed the Mortgage Industry--And So Can You

Industry News - Wed, 05/14/2014 - 18:59
So, every week I write a column in this space, and often I get some interesting feedback.
Categories: Industry News

Millions of Nonperforming Loans Resolved, Millions to Go

Industry News - Tue, 05/13/2014 - 14:12
There will be enough grist for the NPL mill for at least three more years, industry insiders say.
Categories: Industry News

What Small Mortgage Lenders Can Learn from Credit Card Settlement

Industry News - Mon, 05/12/2014 - 12:05
Credit card telemarketers allegedly "went off script" in describing the benefits and charges of credit protection plans to coax consumers into receiving them. The move has implications for loan officers.
Categories: Industry News


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