Loan Think

The recent White House fintech summit was helpful in exposing companies to regulators, and vice versa, but we need to strengthen the lines of communications even more.

Mergers and acquisitions are important, but simply buying out the competition is no longer the road to success.

The promise of digital verification, beyond process improvements and time savings for lenders, is the ability to help both consumer and lender drive to the right outcome more quickly, with greater transparency and predictability along the way.

Banks frequently blame "the rules" in shunning partnerships with fintech startups. However, compliance can be a positive force, not something that inhibits growth.

Although the Consumer Financial Protection Bureau doesn't mandate doing so, lenders' best chance to stay compliant with future data initiatives and regulatory changes is to implement standards set by the Mortgage Industry Standards Maintenance Organization.

Good intentions won't lower costs, improve workflow or maintain compliance. Decision-makers need to put their money where their mouths are when it comes to implementing technology to keep costs down, improving workflow and maintaining compliance.

Inaccurately insured homes can cost mortgage servicers millions of dollars in civil penalties — a loss that can be prevented by better understanding the figures and analysis used to determine the correct cost of insurance needed.

The Consumer Financial Protection Bureau is keeping lenders in the dark about how it will ensure borrower data is secure and private under the expanded Home Mortgage Disclosure Act reporting requirements.

The ultimate approval of the CIT-OneWest merger by regulators represents a giant step backwards for the Community Reinvestment Act.

Home Equity Conversion Mortgages can be a valuable retirement tool to older borrowers who qualify for the product, and lenders who shy from offering them are doing their clients a costly disservice.