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Campaign pain: What does this election season mean for mortgage finance?

"From caucus to raucous"
It seems like we've gone from caucus to raucous this election year.  Anyone not bombarded by the rancor is probably hiding under a rock. The rest of us, however, are left wondering not only who will occupy the White House next, but what we're in for. For mortgage and real estate professionals, there's some interesting solace to be found in historical economic data.
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Here are 5 big insights from the new HMDA data

The state of the mortgage and housing market for 2015
The release of the Home Mortgage Disclosure Act data for 2015 at the end of September gave an important status update on mortgage origination market. Most notably, it showed the market continued to benefit from an improved housing market in 2015. Here are five takeaways from the new HMDA data set, according to one expert economist.
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Here's how to navigate the turbulent waters between CFPB regulation and bankruptcy code

Getting bankruptcy right
As each year goes by, lenders and servicers spend more of their budgets on compliance to avoid regulatory potential pitfalls. The perception that the cost of proper training and revising current procedures outweighs the cost of litigation related to default bankruptcy servicing. This isn't true. Instead, this is what you need to do.
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Bye-bye regulation, the mortgage industry found a new focus: technology innovation

The hot topic at MBA Annual 2016
There was a clear difference in the atmosphere at the Mortgage Bankers Association’s annual convention and expo in Boston this year. A quick look at this year's headlines compared to last year's headlines shows the dichotomy between the two. The industry was so stifled by TRID last year that the burden carried over into the mood of the conference. This year, however, produced a different, better story.
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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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