Monthly Archives: April 2017

FHA Provides Effective Dates for Implementation of the Loan Review System and Timeframe for Conducting Pre-Endorsement Mortgage Reviews

Effective Date of Implementation of the Federal Housing Administration’s Loan Review System, and Change in Effective Date for Timeframe for Conducting Pre-Endorsement Mortgage Reviews for Unconditional DE Authority Continue reading FHA Provides Effective Dates for Implementation of the Loan Review System and Timeframe for Conducting Pre-Endorsement Mortgage Reviews

Proposed Accounting Changes Should Make Hedging More Attractive to Community Banks

In the regular course of business, banks are exposed to market risks from movements in interest rates, foreign currencies and commodities. Many banks respond by utilizing over the counter derivative instruments to hedge against volatility. Under current accounting standards, banks must account for derivatives under the ASC 815 (formerly FAS 133) models. Continue reading Proposed Accounting Changes Should Make Hedging More Attractive to Community Banks

Why Loan Officers Should Attend Mortgage Closings

For many years, mortgage loan officers touted the value of attending closings out of a belief that doing so helped build relationships with the borrower, real estate agents and title companies. At the National Mortgage Lending Conference, the STRATMOR Group’s Senior Partner Garth Graham shared new data calculated from more than 150,000 home loan experiences to learn the truth behind this activity and whether it impacted borrower satisfaction. The result? A resounding yes – there’s a direct link between borrower satisfaction and whether loan officers attend mortgage closings. Continue reading Why Loan Officers Should Attend Mortgage Closings

Ready for the E-Mortgage – Here’s the Latest

If we learned anything at December’s Digital Mortgage Conference in San Francisco, it was that the industry is ready for the electronic mortgage.

That should come as no surprise to anyone who has been in the industry for very long. A mortgage originated, sold into the secondary market, and then serviced in a completely electronic fashion, has been the dream of many mortgage industry technologists for almost two decades. That’s how long ago the federal government passed the Electronic Signatures in Global and National Commerce Law, also known as the E-Sign Act. Continue reading Ready for the E-Mortgage – Here’s the Latest

Zillow May Have Violated Mortgage Regulations – Be Smart to Stay Safe

Zillow Group (Z, ZG) shares have struggled in recent weeks, and new headaches may be coming investors’ way.

The real estate portal historically relied on advertising revenue from real estate agents listing homes, but Zillow’s strategic focus in recent years has been to add revenue from mortgage providers. While this has been beneficial to revenues in the past, the new income stream may be at risk due to a possible breach of regulations. Continue reading Zillow May Have Violated Mortgage Regulations – Be Smart to Stay Safe

ECOA Amendments Are on the Way – Are You Ready ?

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) has released a proposal to amend Equal Credit Opportunity Act regulations to provide additional flexibility for mortgage lenders in the collection of consumer ethnicity and race information. The CFPB believes the proposed amendments will provide greater clarity to lenders regarding their obligations under the law, while promoting compliance with rules intended to ensure consumers are treated fairly. Continue reading ECOA Amendments Are on the Way – Are You Ready ?

CRE Lending Changes Are Coming

Regulatory relief for community banks appears to be on the way, and the changes will likely make commercial real estate lending easier.

Banking regulators on March 21 issued a joint report to Congress on their efforts to reduce regulatory burden. Most notably, the report stated that regulators were considering changes to the capital treatment of risky commercial real estate, mortgage servicing assets and certain deferred tax assets. Continue reading CRE Lending Changes Are Coming

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