Loan Think

Most lenders have either developed an anti-money laundering policy or are in the process of doing so. What many have not thought about are some of the practical implications of AML compliance as it pertains to the actual business of selling loans to investors.

We all know that the Consumer Financial Protection Bureau is in business to help the little guy (the borrower, that is) but why isn’t it taking a close look at underwriting guideline ‘overlays’ being hoisted upon the industry by the megabanks?

On July 17, a 26-count indictment was unsealed charging Eliseo Jara Jr., Sergio Jara, Antonio Perez Marcial, Lucia Yolanda Chavez, Arlene Jeanette Jara, Candace Shantel Gonzales, Joseph Shawn Chavez Jr., Melissa Rochelle Jara and Ricardo Fabian Salinas in a mortgage fraud conspiracy. The indictment was returned on July 12 by a federal grand jury in Fresno and the defendants were arrested at their residences on July 17.

To be successful in the mortgage business, you need to remain healthy.

As we’ve reported before, private equity firms have been eyeing the mortgage market for the past two years – in particular MSRs. But here’s the catch: although there has been plenty of ‘talk,’ no household name PE firms (if there is such a thing) have taken the bait.

The next step in developing a warrior mindset.

LOS providers who offer, and lenders who select, an EDM product that’s crafted and maintained by a team of skilled craftsmen, not a “Jack of all trades” won’t be disappointed; even after the check is cashed.

Everything is great when you are getting a healthy paycheck, but life can become quite stressful if you don't plan for the day when loans will slow down.

The appraisal independence requirements within the Dodd-Frank Act go a long way to shedding more light onto an issue that needs to be solved, but it doesn’t go quite far enough.

There is much discussion about how housing prices have stabilized lately, implying the housing market is progressing forward into recovery mode. Econ 101 says differently.