Monthly Archives: April 2017

Expect a Change to Regulation of Non-Bank Mortgage Servicers

Last month, Citigroup announced plans to exit the mortgage servicing business and sell off a $97 billion portfolio to a non-bank servicer and transfer their remaining mortgage servicing rights (MSRs) to another non-bank servicer by early 2018. Thus continues the trend of non-bank mortgage servicers capturing more market share year after year than their bank competition. Last year, the U.S. Government Accountability Office (GAO) issued a report which emphasized the fact that the share of mortgages serviced by non-banks increased from 6.8 percent in 2012 to 24.2 percent in 2015. Continue reading Expect a Change to Regulation of Non-Bank Mortgage Servicers

Strategies to Improve Your Commercial Loan Origination

Today’s business borrowers demand a lot more than just good rates. They expect to communicate with their lender via a variety of channels at a time that suits them. They are too busy running their own businesses to prepare thick files of financial information. And they want to deal with partners whom they regard as having a modern, world-class business model and technology stack. Continue reading Strategies to Improve Your Commercial Loan Origination

Fannie Mae Selling Guide Updates SEL-2017-03

In response to requests from a number of our customers, we are clarifying that lenders may obtain a verification report for use with the Desktop Underwriter® (DU®) validation service directly from a “report supplier” that generates the report and sends the data electronically to DU, or from a “report distributor” that obtains the report from an authorized report supplier. Continue reading Fannie Mae Selling Guide Updates SEL-2017-03

CFPB to Re-Examine Regulations

On Tuesday, Chris D’Angelo, the associate director of the Consumer Financial Protection Bureau’s (CFPB) division of Supervision, Enforcement and Fair Lending, said at an American Bankers Association meeting in Washington that the CFPB is bureau was set to undertake a review of a host of major rules that it has put in place, including the qualified mortgage rule.

D’Angelo stated that the CFPB is “embarking” on the process of reviewing rules that it has put in place as mandated under the Dodd-Frank Act. Continue reading CFPB to Re-Examine Regulations

These Two Colors Make Office Workers More Alert and Productive

Offices are increasingly being designed with collaboration in mind, as the lines between corporate meetings, private work sessions, and coffee dates with clients blur. While furniture and layout are often discussed, experts say there is a new frontier of workplace design they are just now tapping into: color. Continue reading These Two Colors Make Office Workers More Alert and Productive

Regulatory Relief on the Horizon for Community Banks?

A group of Wisconsin bankers on a recent lobbying trip to Washington, D.C., returned with heightened optimism that some of the rules now governing community banks — regulations they contend are too costly — will be eased.

Community banks in Wisconsin and the U.S., defined generally as banks with assets of less than $10 billion, have complained since 2010 that reforms passed by a then-Democrat controlled Congress and aimed at preventing another financial crisis unfairly imposed an expensive compliance burden on them.

Continue reading Regulatory Relief on the Horizon for Community Banks?

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