Hopin On Board The NMLS Train
Mortgage Banker Magazine
by Luca Luna
3y ago
The NMLS Annual Conference and Training will be not be held in a location this year, but on a platform. The Hopin platform aims to replicate the same experiences and benefits normally shared by NMLS conference attendees. The virtual conference will provide traditional sessions, networking, share contact information, participant roundtables, attendee chat, and what is being billed as Accidental Networking. Accidental or Speed Networking is meant to simulate the random encounters that typically occur between meetings, during coffee breaks, or just walking the hallways. Networking time is also al ..read more
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Diversification
Mortgage Banker Magazine
by Luca Luna
3y ago
A Tried and True Strategy for Uncertain Times By Bruno Pasceri, Incenter Here we all are, halfway through winter, optimistic yet uneasy about what the next several months will bring. Despite the data-driven forecasts and projections, no one really has a handle on what’s ahead. We’ve never seen such a unique and confounding set of variables influencing our business. Purchase demand is high but inventory is so tight that the idea of home sales replacing the refi boom is simply not logical. Student debt is directly impacting the purchase timeline for first-time buyers. Will the anticipated defaul ..read more
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The Near Future of Forbearance
Mortgage Banker Magazine
by Luca Luna
3y ago
By Michelle Garcia Gilbert, Gilbert Garcia Group P.A. The Not-So-Distant Past             Beginning March 27, 2020, when President Trump signed the CARES Act into law, a moratorium, now extended through January 31, 2021, was placed on foreclosures and evictions for loans owned by Fannie Mae and Freddie Mac, and now extended through February 28, 2021 for VA, FHA and USDA loans, affecting about two-thirds of the single-family residential lending market.             The Federal Housing Ad ..read more
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A Fast-Moving Target
Mortgage Banker Magazine
by Luca Luna
3y ago
The Evolving Business of Compliance Management By Leonard Ryan, QuestSoft If loan production provides the life blood of the modern lending enterprise, it’s the compliance department that keeps the company from bleeding to death. That’s what it can feel like when a regulator finds a compliance problem that has been hiding in your loan production process and impacted hundreds or even thousands of borrowers. Believe it or not, there was a time when keeping a financial institution in compliance was much simpler. Today, the fast pace of new technology adoption and an enhanced regulatory focus on pr ..read more
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UDAAP: The Balancing Act
Mortgage Banker Magazine
by Luca Luna
3y ago
UDAAP. A difficult topic. UDAAP is broad in scope and challenging as it crisscrosses with other consumer protection laws and regulations. Fair lending comes to mind. Definitions of each word in UDAAP can be fuzzy and we often need clarity. These definitions are from the Dodd-Frank Act, Section 1031. The risk here is that some of these definitions are subjective; so it often takes reviewing these terms on a regular basis. 1. Unfair…An act or practice is unfair when: It causes or is likely to cause substantial injury to consumers. Substantial harm to consumers usually means monetary harm, such ..read more
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Marketing and Compliance Don’t Have to be like Oil and Water
Mortgage Banker Magazine
by Luca Luna
3y ago
We can all agree that our marketing folks are creative individuals with the eye and the talent to power their focus on the art and the design of your institution’s marketing campaigns. Give them an idea, a goal and they can create advertising material that appeals to your customers. We need these individuals and the amazing talent they bring. And, often, conflict occurs when there is a lack of understanding of how compliance intersects with marketing. From a marketer’s perspective, compliance slows down the process, and for compliance folks, marketers are just in a hurry to get the campaign fi ..read more
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C-Suite January 2021
Mortgage Banker Magazine
by Luca Luna
3y ago
Amit Haller Co-Founder and CEO, Reali What is the most rewarding thing about your position?I get to create and direct life-changing products for the entire homeownership journey with an incredible team. Seeing how Reali impacts people’s lives daily, and driving results for the consumer, is what keeps me going. Buying and selling a home and the process of getting a mortgage are the most stressful transactions in someone’s life. Being able to provide a stress-free and simplified process while saving customers money is very rewarding. What do you think the biggest challenge the industry is faci ..read more
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C-Suite November 2020
Mortgage Banker Magazine
by Luca Luna
3y ago
Wes Hunt President and CEO, Homestar Financial Corporation What do you find most rewarding about your job? The most rewarding aspect is helping team members at HOMESTAR be successful and grow as well as driving growth and expansion of the company to the next level. Additionally, I have always had a passion for helping individuals become homeowners while really and truly supporting our builder and realtor referral partners. HOMESTAR is a “boots-on-the-ground” traditional company, therefore we’re highly engaged with the real estate and builder communities. What do you think is the biggest challe ..read more
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A Powerful Resource for Lenders
Mortgage Banker Magazine
by Luca Luna
3y ago
By Rebecca Steele It is true. You don’t know what you don’t know, and that lack of knowledge can stand in the way of renters who aspire to become homeowners. Pre-purchase counseling has been an instrumental resource that has made the dream of homeownership a reality for countless individuals and families. As a result, counseled individuals who achieve their goal of homeownership are less likely to experience delinquency or foreclosure, according to research by the Department of Housing and Urban Development (HUD). Such an outcome is mutually beneficial for homeowners and lenders alike. The cha ..read more
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Will the GSEs Exit Conservatorship This Year?
Mortgage Banker Magazine
by Luca Luna
3y ago
By Brian Honea The once mighty GSEs were controversially forced into conservatorship by the FHFA in September 2008 amid the greatest housing crisis the country has ever seen. The FHFA has now been operating the GSEs in conservatorship for a dozen years and the conservatorship remains just as controversial as it was in 2008 as Fannie Mae and Freddie Mac continue to turn profits. In the months leading up to the presidential election, rumors swirled regarding a possible exit from conservatorship in 2021, but just how likely is that? The MORTGAGE BANKER Magazine recently spoke with Dr. Michael Ste ..read more
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