Loan Think

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.

Mortgage lenders may have managed to learn about hashtags and followers, but streaming audio and podcasts are still pretty mysterious to them.

Prior to 2006, the industry primarily relied on enforcing lender representations and warranties. Recent widespread litigation has shown the immense costs of relying on cures. Prevention is a better solution.

Mortgage originators do not meet two of the eight required tests to qualify for tax purposes as statutory employees.

White papers don’t always get much respect in our industry, probably because so many are just veiled brochures, pitching products and services.

A mortgage originator gives his take on whether the gift card giveaway violates RESPA's anti-kickback provision.

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.

The right use of technology will allow the originator to be the first responder to an inquiry.

Some words of advice to pass on to your referral sources and clients about the post-underwriting checks now in place.