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REwired

Monday Morning Cup of Coffee: Was TRID worth it?

Plus a window into the credit invisible
For businesses in the mortgage space, there's some optimism of late thanks to the Trump administration's emphasis on deregulation. And that's understandable. But what about all the time, energy, and money that the industry spent over the last few years dealing with a glut of new regulations? Was it all worth it?
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Fannie Mae CEO: G-fee pricing is in the "right zone"

No one is complaining about the free stuff, either
One of the larger shifts this quarter, although profits remain flat, is earnings from guarantee-fees now outpace portfolio investments. In other words, Fannie Mae is now making more money off of business it is doing rather than business it once did.
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Freddie Mac CEO: 4 ways to turn around the supertanker

This is how to manage $2 trillion in assets
One thing that gets little coverage is how effective Freddie Mac CEO Donald Layton managed his team, which runs $2 trillion in assets. So, it seemed appropriate to find out his formula for retaining top staff and keeping the foot soldiers motivated. Layton puts it down to 4 ways they helped turn around this “supertanker.”
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Unconscious bias in the workplace – what if the experts got it wrong?

An expert tells how to avoid bias, but she could be missing the point
One expert, who spoke at the Mortgage Banker’s Association national mortgage servicing conference and expo in Dallas, pointed out how mortgage professionals can avoid bias in the workplace. However, while she points out interesting facts, could she be looking at it from the wrong angle?
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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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