Lenders increasingly find themselves responsible for protecting clients’ money and non-public personal information as those funds and data pass through several vendors that are part of the mortgage process.
WAVE OF THE FUTURE? The mortgage industry will "recognize the economic benefits" of ITIN loans, and they will "become more common in the long term," said Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals.
Many lenders think home loans are off-limits for undocumented immigrants because they lack Social Security numbers, but higher-cost loans using borrowers' individual taxpayer identification numbers are available and being made by a handful of firms.

"This case is really about what is a regulation," said one expert.
Although the case ostensibly turns on whether loan officers should be paid for overtime, the high court is focused on whether government agencies have the right to substantially change regulations without seeking public comment.

Hard money lenders fear New York watchdog Benjamin Lawsky's investigation into their industry could make the public mistakenly think their business primarily involves making loans designed to fail to homeowners who occupy properties.

“The impediments to a merger could be a circumstance in which you have two strong presidents and only one slot to fill,” said Steve Cross, the Home Loan Banks’ former top examiner.
As the Seattle and Des Moines Home Loan banks inch closer to the first successful voluntary merger in the system's history, observers are beginning to ask which institution will try next.

Key Community Bank's E.J. Burke reflects on the highs and lows of his term as chairman of the Mortgage Bankers Association.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.