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REwired

How employers can reassure potential LOs in the midst of mortgage layoffs

Invest in the right technology for LO retention
Under these circumstances, it can be an intimidating market for both job seekers and employers in the mortgage industry. So how do you reassure potential LOs when recruiting? Many professionals in the industry believe the key for recruiting loan officers is investing in technology that streamlines work to increase both efficiency and LO retention.
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Commercial real estate insider: Investors need to broaden their minds about funding sources

The most important debt products you may not know about
[Expert commentary] When it comes to debt, everyone seems to be eating from the same basic food groups. Banks, commercial mortgage-backed securities and big balance sheets dominate the market. If you're a multifamily investor, there’s also Fannie Mae and Freddie Mac. But most folks are really missing the most important and liquid debt products out there.
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Here’s what title insurers need to know about the feds’ new rules for all-cash real estate deals

Deloitte experts on FinCEN’s new requirements
[Expert commentary] Last month, the Treasury Department’s Financial Crimes Enforcement Network announced that it was expanding on its rules that require title insurers to report buyers’ identities and the source of the funds for certain residential real estate deals. Here's what title insurers need to know about the new rules and what they can do to comply with them.
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The evolving role of chief compliance officers in selecting technology and vendors

Digital food for thought
[Expert commentary] The digital mortgage promise is compelling: new technology and better workflow to meet all needs and requirements — all built for compliance and protecting participants from unnecessary risk but it's not guaranteed. As technology is evaluated and implemented, chief compliance officers must have a seat at the table.
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Pulse

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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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