Items Tagged with 'Upfront mortgage lender'

ARTICLES

  • Compliance in the Age of Change it Now

    Things are changing in America. We asked for it. Now all we have to do is keep up with it. Of course, that may be problematic when we're dealing with new bills passed without even being read by Congress and signed into law alongside executive orders that may or may not change the letter of the law. This, all piled on top of a regulatory system that has proven inadequate for policing the laws we already have on the books—even if they were given additional budget for enforcement, which they are not. Fun times.
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  • Giving Information Away

    Many lenders who are struggling to comply with HUD's new rules now know that the government isn’t only interested in giving consumers more information, but more information that is more likely to be more accurate when they get to the closing table. Despite the pain change always brings, this is a noble idea.
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  • Managing the Appraisal Process

    While I generally frown on profiling humans, I learned in engineering school that some comparisons between people can be genuinely useful. For instance, what was your favorite building toy as a child? You’ll find that folks who enjoyed Lincoln Logs generally prefer ready-made solutions more than someone who enjoyed Legos or K’nex. Future engineers, I found, were the only class of human to really enjoy erector sets. Now that I’ve learned about mortgage lenders, I wonder if many executives working in our space were also closet erectors.
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  • MRG's Electronic Disclosure Software Anticipates Truth-in-Lending Expansion

    Dallas-based software developer MRG Document Technologies announced it upgraded its Web-based eConsent electronic disclosure delivery system to comply with the upcoming expansion of the federally mandated truth-in-lending disclosures. The new regulations, which take effect July 30, require additional disclosures for refinanced mortgages and loans on dwellings other than a borrower’s primary residence. According to MRG, its upgraded eConsent system can speed the delivery of these mandatory disclosures to three days.
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  • Foundation to Tackle Predatory Lending

    In the wake of the ongoing mortgage foreclosure crisis fueled in part by predatory lending, one foundation is aiming to restore consumer confidence. The effort will allow borrowers the option of using lenders that are certified as "safe," "fair" and free of predatory lending, under a 21-member national network known as nonprofit "Fair Mortgage Collaborative" (FMC). "During uncertain economic times, American families need someone to look out for their best interest," says Janet Murguia, president and CEO of National Council of La Raza, a Collaborative member organization.
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  • Lenders Line Up for New Business

    As mortgage rates hovered near historic lows for much of Q109, keeping borrower demand strong, 50 mortgage lenders joined the lender recruiting network at LendingTree, an online lending exchange service. LendingTree matches thousands of high-quality borrowers to four banks, which then compete with one another for the loan business. The lead generator provides banks with the customers that fit their portfolios while freeing up the time they would have spent marketing to focus on the part of the process they specialize in: closing loans.
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  • Online Resource for RESPA Compliance

    Months ahead of the US Department of Housing and Urban Development's new regulatory requirements that will force lenders to provide revised good faith estimates (GFEs) and other disclosure documents to create more transparency at the closing table, industry professionals are getting compliant.
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