Organizations implement vendor risk management programs as a formal way to evaluate, track and measure third-party risk; to assess its impact on all aspects of your business; and to develop compensating controls or other forms of mitigation to lessen the impact on your business if something should happen. A program of this nature gives you […]
Regulatory pressure combined with consumer expectations for convenient and efficient service are driving mortgage companies to go digital. And while the idea of a paperless mortgage industry may feel like illusive promise, many have taken impressive steps towards eradicating the costs, errors and delays inherent in paper. Automating the electronic delivery of mortgage disclosures is […]
Making mistakes in the lien release and assignment process can be costly for mortgage servicers and investors, who are facing increased scrutiny from regulators. But managing this process requires complying with a myriad of local, state and federal regulations while adapting to each county’s technology capabilities. Which of these mistakes is your company making, and […]
There is a shakeup occurring in financial services. Is your mortgage business prepared to compete with fintech firms and alternative lenders for tomorrow’s mortgages? As established lenders make their way out of the compliance weeds, what are some of the emerging trends, technologies and customer-centric strategies that can help make a difference today and in the future? To […]
There’s no denying that the TILA-RESPA Integrated Disclosure (or Know Before You Owe) rule (TRID) made its presence known long before it took effect on October 3, 2015. The rule required lenders to replace the Good Faith Estimate and the initial TIL disclosures with the Loan Estimate (LE), and the Final TIL disclosure and the […]
Because you want to close more low-down payment mortgages and here’s how. In December 2014, Freddie Mac officially rolled out 97% loan-to-value products. At the time, officials from the Federal Housing Finance Agency said that they expected the low-down payment loans to represent a small portion of the government-sponsored enterprises’ business moving forward. In 2015, high-LTV loans represented only approximately […]
If you’ve looked at a mortgage management solution recently, you’ve probably heard the terms “customizable,” “configurable,” “end-to-end,” “all-in-one.” Ready for the inside scoop? A configurable, all-in-one solution delivers the visibility, compliance safeguards and flexibility today’s mortgage lenders need, without the inherent risk of moving data across multiple systems. Set up the workflow you need, increase […]
A roundtable of economists convened by the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) Center for California Real Estate address the need for education reform and the mismatch between the location of economic activity and housing affordability in order to preserve the stability and wealth creation enabled by homeownership. Publisher: Center for California Real Estate Date: […]
According to the MBA, 2Q 2015 brought $225 billion in new purchase originations – the highest level we’ve seen since Q4 2007. Stories of mortgage firms beating their own 2015 projections are rampant industry-wide. And it’s very possible interest rates will stay low – and consumer demand steady – well into 2016. How can you […]
Property tax management is vital to keeping your real property portfolio safe and healthy. Not knowing bill amounts or the delinquency status of properties carries serious ramifications. In this comprehensive new report, tax specialist LERETA has analyzed and highlighted current trends in property tax bill amounts and delinquencies across 53 counties in California. By downloading this report, […]
The complexity of credit reporting has increased dramatically. Fannie Mae now requires that specific trade lines be consistently verified and newly introduced credit comments such as “consumer dispute” and “short sale” be addressed prior to receiving Fannie Mae’s automated approval. Other items such as tracking costs across multiple branches, accepting consumer credit card payments and […]
Although the TRID timing has changed, TRID will still require lenders to replace the Good Faith Estimate and the initial TIL disclosure with the Loan Estimate (LE), and the Final TIL disclosure and the HUD-1 Settlement Statement with the Closing Disclosure (CD). This will mean extensive workflow redesign for lenders, as well as loan officer […]
On Oct. 4, 2015, the mortgage industry will enter into the next phase of its existence: post-TRID. The industry is actively working to solve the immediate problems and challenges posed by the new Loan Estimate and Closing Disclosure forms However, the immediate document production issues only cover about 20 percent of the total changes required […]
The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) convened a roundtable of industry experts on the topic of the Multiple Listing Service and data management issues. The highlights of the roundtable are outlined in a new whitepaper issued by the Center for California Real Estate, an institute from C.A.R. dedicated to intellectual engagement in the field of […]
The second quarter of Freddie Mac’s refinance report indicates that the Refinance boom is over. The report shows the share of borrowers refinancing fell below 50% for the first time since the third quarter of 2008. If you don’t have a successful strategy to market to and convert business in a purchase market, this resource […]