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REwired

Loan Officers: Teach your Realtor partners how to fish

On Facebook, that is
[Op-ed] What I always tell my MLOs, is teach your Realtors how to fish. What do I mean by that? Simply stated, is that instead of giving them that "one-off lead," teach them a strategy or tactic that will get them multiple leads per year. In this case, learn how to do Facebook Lead Ads for Real Estate.
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VantageScore: Director Watt, don’t waste this opportunity

Mel Watt, the director of the FHFA, has a decision to make
[Expert Commentary] As regulator and conservator of the GSEs, Mel Watt, the director of the FHFA, has a decision to make. He could open the GSEs’ credit score requirements to include other credit scoring models– broadening access to mainstream mortgage financing without lowering standards and in the process eliminating the scoring monopoly created by the GSEs.
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Monday Morning Cup of Coffee: Countrywide, LandSafe accused of fraudulent appraisals during housing boom

Plus, Mueller says Manafort committed mortgage malfeasance
In today's Monday Morning Cup of Coffee: A federal judge recently granted class-action status to a lawsuit alleging that Countrywide Financial used LandSafe to conduct “sham” appraisals to increase the number of loans Countrywide originated during the mid-2000s. Plus, former Trump campaign manager Paul Manafort was accused of some mortgage misconduct. Click the headline for more.
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Fannie Mae CEO: We will return to profit in 2018

"We are a b2b business, we’re not a b2c business."
“We had a solid quarter in that our business performance was excellent,” Timothy Mayopoulos told HousingWire by phone. “The quarter’s earning are not a reflection of our underlying business. We will also benefit from the lower corporate tax rate.”
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Pavaso blog header revision 2

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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