Loan Think

Is the bar set so low that investors must dictate to servicers what the minimums are and how to manage the very basic elements of our business?

First-time homebuyers, usually between 18 and 34 years old, prefer mortgage shopping through the web, to getting in their cars and driving to their banks to shop for a mortgage.

The National Security Agency spying scandal, sparked by news that the NSA has been monitoring phone and e-mail records of millions of Americans, could spill over into the mortgage industry.

Industry groups are growing skeptical about the prospects for a FHA reform bill as we get closer to the summer solstice.

The prevalence of short sales is likely the most significant factor impacting foreclosure rate improvements and the housing recovery.

An oversimplified but generally useful way of understanding what is included in the 3% cap, is that it is the same as the old definition of “finance charge,” with a few important additions.

For the most part, qualified mortgage/Ability-to-Repay guidelines should provide a level of compliance certainty. But are they still too severe?

Regulators, creditors, accountants and shareholders all have increased focus on this asset. Basel III implementation may further exacerbate this.

The amendment provides certain exceptions to this Dodd-Frank requirement that loan originator compensation be included in the total permissible points and fees for both Qualified Mortgages and high-cost loans.

Homeowners are “under paper” and unable to close on a home sale or refi transaction because a mortgage satisfaction has never been recorded in the public records.