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Nonbank Servicers Under Scrutiny

Nonbank Servicers Under Scrutiny

non banksWith the current exponential rise in nonbank servicers, the CFPB and FHFA are weighing both the consequences and positive reinforcements the new trend could have on the mortgage industry and consumers. 

Since the financial crisis, the nations’ biggest banks are …

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Insurable Value

Insurable Value

insurable valueInsurable Value – “The cost of total replacement of destructible improvements to a property; may be based on replacement cost rather than market value”

 

When it comes to real estate appraisals, property valuation or land valuation is the process

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HMDA Analysis Shows Lenders Could Add Significant Revenues

HMDA Analysis Shows Lenders Could Add Significant Revenues

April 2014 Industry News - Mortgage Payment PriorityAn analysis of the 2013 HMDA data shows that lenders are missing opportunities; There is a gap in the approval rates between lenders. Some lenders have approval rates on non-conventional loans of as low as 11 perfect, where the typical …

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TILA-RESPA Integrated Disclosures Rule Explained

TILA-RESPA Integrated Disclosures Rule Explained

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TILA-RESPA standing at 1,888 pages, with over 400 changes, 1,122 business rules, and 362 data points is a terrifying upcoming change to the mortgage industry.

The official Home Loan Toolkit brochure you are required to use doesn’t explain “form rounding” …

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Bank Customers Embracing Mobile Banking – How Credit Unions And Community Banks Should Adapt

Bank Customers Embracing Mobile Banking – How Credit Unions And Community Banks Should Adapt

mobile_banking_application_platforms_operating_systems_customer_ratingsMore than 75 million American consumers use their smartphones for mobile banking. National banks are leading the way with mobile banking because consumers who want digital banking believe big banks have better mobile banking solutions. 80% of users report using …

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Credit Box To Be Opened By Large Lenders

Nonprime loans help borrowers with low credit scores become homeownersThe Credit Box Opens

Since the great depression, housing starts have nearly doubled. More recently, strong investors have been buying properties in distress at a insatiable rate, driven by low house prices and strong rental demand, but as that trend …

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The CFPB Proposes New Rules and Changes to Regulation C to Apply Changes to the HMDA Required by Dodd-Frank

The CFPB Proposes New Rules and Changes to Regulation C to Apply Changes to the HMDA Required by Dodd-Frank

The CFPB’s Proposed Rules Primarily Effects How Banks Collect and Report Data

 

On August 29th, 2014, the CFPB suggested a  rule and changes to its Regulation C (Home Mortgage Disclosure) to apply changes to the HMDA

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Expectations for Mortgage Servicers and Adjustments to the CARD Act

Expectations for Mortgage Servicers and Adjustments to the CARD Act

CFPB Releases Expectations for Mortgage Servicers and Adjustments to the Card Act

Know Before You Owe - Mortgage Pain Points

Last Friday, the CFPB issued a bulletin that outlined expectations for mortgage servicers that transfer loans; it details how mortgage servicers should heed new rules protecting consumers applying …

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CFPB Proposes Remedy for Mortgage Pain Points

CFPB Proposes Remedy for Mortgage Pain Points

CFPB Study Looks at Mortgage Pain Points

Know Before You Owe - Mortgage Pain PointsOver the course of the last year, the Consumer Financial Protection Bureau (CFPB) has been gathering data on the mortgage loan closing process. They solicited feedback from borrowers, lenders and others involved in

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