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Industry News

How Underwriting Affects Customer Satisfaction

Industry News - Fri, 03/14/2014 - 15:43
Underwriting is back in style and underwriters are in high demand as the requirements of investors and regulatory considerations require more documentation and more scrutiny around whether a borrower can pay back the loan.
Categories: Industry News

Burden of Student Loans Stifles the Housing Market

Industry News - Wed, 03/12/2014 - 15:34
Lenders don't want to make loans outside the Qualified Mortgage rule's tight debt-to-income standard. Young graduates don't want to add to their hefty monthly payments. Net effect: Fewer first-time buyers.
Categories: Industry News

'Reasonableness' Standard Will Set a High Bar for Lenders

Industry News - Mon, 03/10/2014 - 13:26
Over the last year several decisions and regulatory actions suggest industry standards are soon going to become the way of life for lenders.
Categories: Industry News

Beware of MBS Extension Risk

Industry News - Mon, 03/10/2014 - 12:46
As interest rates increase, prepayment speeds are falling precipitously, extending the maturities of mortgage-backed securities, especially the guaranteed variety. This trend is likely to cause future declines in MBS values.
Categories: Industry News

U.S. Housing Sector Is in Big Trouble

Industry News - Fri, 03/07/2014 - 18:03
The housing sector is increasingly a drag on consumption and job creation. The fault lies not with the market but with ill-considered regulations and bank capital rules.
Categories: Industry News

Legacies of Thrift Crisis Buoy Affordable Housing to This Day

Industry News - Fri, 03/07/2014 - 14:29
The Affordable Housing and Community Investment programs of the Federal Home Loan Banks provide important gap financing to support other sources of financing for affordable housing.
Categories: Industry News

Back Office Can Help Boost Conversion Rates, Too

Industry News - Thu, 03/06/2014 - 15:17
Loan processors should continue the conversation that the loan officers hopefully started. Like asking, "What did you like about that house?" while trying to nail down the appraiser's contact information.
Categories: Industry News

Why Loan Officers Should Consider Hiring Assistants

Industry News - Thu, 03/06/2014 - 09:48
Have you made excuses to your friends, family and even yourself as to why you have to work late?
Categories: Industry News

Don't Push Your Luck with QM

Industry News - Mon, 03/03/2014 - 12:06
A technical reading of the rule supports excluding charges by a broker's title affiliate from the 3% fee cap. But without a specific interpretation from the CFPB, it would be unwise to risk a loan's QM status.
Categories: Industry News

Changing the Loan Process

Industry News - Wed, 02/26/2014 - 15:51
Once into the application stage, the process of having a dialogue instead of an interview increases conversion even more.
Categories: Industry News

The Hazards of Reimbursing Branch Managers for Expenses

Industry News - Mon, 02/24/2014 - 11:55
Lenders should be aware auditors are focusing on 1099 payments due to the concern that the payments could be a vehicle for compensation no longer permissible under the Dodd-Frank Act.
Categories: Industry News

Negotiating an Employment Contract

Industry News - Thu, 02/20/2014 - 10:01
Here is a list of 18 items loan officers should consider when talking with their current or future employers, including who owns the database.
Categories: Industry News

Conversation, Not Examination

Industry News - Wed, 02/19/2014 - 17:29
There are many conversations that take place during the mortgage process, and a lot of them are conversations between players in the industry.
Categories: Industry News

A Small Victory for Lenders on Loan Officer Pay

Industry News - Tue, 02/18/2014 - 11:28
A jury found a particular loan officer was exempt from minimum wage/overtime requirements because her work involved "outside sales," but the case's decision fails to broadly apply to all LOs.
Categories: Industry News

Your First Opportunity to Score a Conversion

Industry News - Thu, 02/13/2014 - 12:22
Perhaps the very first opportunity a lender has to convert is by turning a website visitor into a loan applicant.
Categories: Industry News

What Does Success Look Like to You

Industry News - Thu, 02/13/2014 - 10:05
Here are 14 questions to ask yourself to develop your personal plan.
Categories: Industry News

The Unseen Risks of Open-Ended Loans

Industry News - Mon, 02/10/2014 - 12:03
Lenders should consider carefully the potential for originators to steer borrowers from closed-end products into open-ended loans.
Categories: Industry News

Will Non-QM Loans Be Available This Year?

Industry News - Fri, 02/07/2014 - 17:59
There are plenty of companies waiting for a secondary mortgage market to develop for these high-margin loans.
Categories: Industry News

Things to Think About When Someone Disses You

Industry News - Thu, 02/06/2014 - 10:16
Some advice on learning to "play well with others" in your office.
Categories: Industry News

Scoring Big in a Game that Doesn't End

Industry News - Wed, 02/05/2014 - 15:53
The contest, as it were, is not really over when the big game ends.
Categories: Industry News

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