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New GSE Lending Guidelines In Effect

New GSE Lending Guidelines In Effect

lending rules

New Lending Guidelines Could Loosen Credit Standards

Fannie Mae & Freddie Mac’s easier lending guidelines went into effect yesterday and mortgage lenders are eager to take advantage of them in an ongoing effort to offset the long-term slowdown in mortgage

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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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Lenders & Insurers Preparing To Tap VA Market

Lenders & Insurers Preparing To Tap VA Market

VA Lending Rising, Borrowers Leaving FHA; Small Lenders & Mortgage Insurers BenefitingFHA

 

Currently, veterans are the fastest growing part of the housing market, and US officials are urging private insurers to guarantee mortgages for them. VA loans have risen …

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Buyback Rules Clarified By FHFA

Buyback Rules Clarified By FHFA

Americans are currently experiencing the tightest credit market in 16 years, which lenders are blaming on penalties from being forced to ‘buyback’ loans they were issued based on false or inaccurate information.

buyback

politic365.com

 

The US-backed companies, Fannie Mae and …

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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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CFPB Plans To Improve Reporting Of Mortgage Application Activity

CFPB Plans To Improve Reporting Of Mortgage Application Activity

activerain.trulia.com

activerain.trulia.com

In addition to improving data quality and streamlining the reporting process, the CFPB is considering implementing SAAS to facilitate the reporting process. AppraisalPro is currently integrated with TrakLogix, an SAAS platform.

The CFPB is proactively aiming to improve reporting …

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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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