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REwired

How burdensome regulations now mean survival of the fittest

The mortgage industry needs more than compliance capabilities
Even today, the consequences of the mortgage crisis of 2008 resonate throughout the mortgage industry. However, the biggest impact from the meltdown wasn't sweeping regulation. Most will agree that there will be more “TRIDs” or “ATRs.” Instead, it's this key factor for businesses that is important.
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There's no consensus on GSE reform, but there is this

Revolution deadline, TBD
After attending a conference with some of the top investors in housing, I’ve come to realize housing is as close to solving GSE reform as it is in solving "which came first, the chicken or the egg?" But amid all the opinions and solutions discussed, there was one session right before I headed back to Dallas that tossed out an opinion I think needs to be mentioned.
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Love working in real estate finance, but hate to network?

3 tips to master small talk
As consummate appraisers, real estate agents, mortgage loan brokers, etc., readers of HousingWire are often called upon to network as part of their jobs, be it happy hour or industry conferences, such as MBA Secondary, which is going on right now. Love it or hate it, but at least learn to master it.
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Closing Call

Taking ID verification to the MAXX

New tool lets lenders validate borrower's identity, character references
With its latest tool, IDMAXX, Pavaso has enabled lenders to achieve two aims with one solution. By leveraging a borrower’s network for both identity verification and character references, lenders can be assured that 1) the borrower is who they claim to be and 2) the total picture they have of that borrower, and the risk that borrower may pose, is accurate and complete.
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Redefining when the mortgage process starts

It's not what you think
Traditionally, there is plenty of jockeying for position amongst the differing players in the real estate transaction, particularly between lenders and realtors, over who owns the relationship with the consumer. Be warned: There isn’t going to be any place for that kind of possessiveness in the post-TRID market.
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The production challenges beyond TRID

Transitioning to a digital space
If the mortgage industry is serious about addressing the longer closing times created by TRID, not to mention attracting millennials as potential homebuyers and/or employees, it has got to get with the times. And the times? They are digital.
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A new era of solutions

Recapping last week's posts and tech progress this year

Solutions exist today that can help with a large majority of the business process shifts that will result from the rule. And the last year has provided an opportunity for them to solve things further.  


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