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 […]
Homeownership is and continues to be the American Dream for the Hispanic community. Do you have the right tools and procedures in place to meet the needs of this diverse group of borrowers? Or do you need help understanding what your next steps should be to better serve them? HousingWire gathered three experts on the […]
Are you ready to say hello to 75 million home buying Millennials? The largest generation is growing up, and quick. And unlike popular belief, they do want to buy homes; but it won’t be the same way as their predecessors. Millennials demand social media, online banking — and yes, online mortgages. Attendees will learn: An inside […]
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 […]
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 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 […]
“Mortgage Lending Shaped by the Customer” closely examines insights from Accenture’s recent consumer research study – the 2015 North America Consumer Digital Banking Survey. For bank and non-bank lenders in North America to compete and grow, they need to better understand and anticipate what today’s borrowers really want. Analysis on numerous data points uncovered three […]
The CFPB’s Integrated Mortgage Disclosure Rules are about to take effect, and the e-delivery of mortgage disclosures is taking center stage in the industry. Beginning August 1, 2015, there will be only two ways to shorten the closing timeline: hand-deliver the Closing Disclosure or do it electronically. In this white paper, we discuss how e-signatures […]
There have been a lot of Webinars and topics of discussion at conferences on the new TILA-RESPA (TRID) regulation set place to take effect on August 1, 2015. The Devil in these new rules is in the details, and some of those rarely discussed topics & solutions will be answered by the leading industry professionals […]
With the costs of compliance layering expense on the origination process, automation of appraisal review has become more important than ever to help lenders increase efficiency and increase confidence related to value estimates. Although there are several appraisal scoring options available, optimal solutions will examine each appraisal for potential risk within and outside of the […]
As the mortgage lending industry continues to work through a myriad of challenges, one truth is emerging clearly. Consumers will be won or lost based on how easy lenders make it to engage with them. While giving borrowers a smooth and efficient process is key to winning them over, the successful lender of tomorrow must […]