One of the most difficult conversions for lenders to accomplish is turning a past customer into a future customer.
It could take quarters or years. It may require fatter yields to entice investors, or move-up homebuyers in need of jumbo loans. This much is agreed upon: Nobody really knows.
The Consumer Financial Protection Bureau last week quietly issued over $70 million in fines to entities which have been through private settlements without specifying why. Here are some likely causes.
White papers dont always get much respect in our industry, probably because so many are just veiled brochures, pitching products and services.
Last month, BMO Harris Bank changed policies on auto lending to pay a flat percentage of the loan amount to auto dealers making loans (sound familiar?).
The mortgage life support provided by the federal government since the crash is ebbing. It will be interesting to see if the industry can breathe on its own now.
So, every week I write a column in this space, and often I get some interesting feedback.
Affordable housing is one of the sticking points keeping the secondary mortgage market reform bill from advancing in Congress.
Mortgage originators have been slow to adopt this tool which can assist in educating potential clients about your products and services.
Proposed reforms for Freddie Mac and Fannie Mae seem to be bogged down in the House and Senate. It might be time for legislators to start thinking about different solutions.
Most of what I've been visiting with you about in this series has been about conversion, since I expect it to be the word of the year for 2014.
What might work better would be clarifying guidance on mortgage insurance premium rules, the meaning of bona fide discount points, and the rules for affiliate compensation.
A roundup of comments on our Editor at Large blog, from the best and brightest to the not-so-bright.
Last week I wrote about how the college application process compares to the mortgage industry, and I got a lot of commentary on that, more than anything else I have written in the past few months.
The proposed federal mortgage guarantor in the Senate reform bill needs 5% hard equity to protect taxpayers, but 10% capital to pass Congress, the Housing Policy Council's John Dalton reckons.