Loan Think

Unless Congress acts before the end of 2015, homeowners who had their mortgage principal reduced in a loan modification or lost their homes through a foreclosure or short sale will find themselves in this position.

Trading space for place with micro-housing could be a promising solution to compounding homeownership woes.

Operations staff is at the tricky crossroads of managing and changing the business. To remain competitive and compliant, lenders must make additional training and networking opportunities available for that team.

Some argue that nonbank mortgage lenders' rising market share poses a risk to the financial system. But this belief arises from an inaccurate understanding of what is in fact a well-regulated sector.

A recent critique of the CFPB's enforcement action against an alleged loan officer point bank run by RPM Mortgage perpetuates misinformation that only serves to undermine the policies and practices of responsible lenders.

When the next wave of REO activity hits, it will be heavily influenced by some of the leftover problem loans from the last downturn, as well as new defaults from more recent originations.

FICO discards incomplete and old credit history information for a good reason. The solution to today's credit-access problems is not to use this unreliable data but to turn to alternative data such as the payment of everyday bills.

Access to credit is too tight. New credit-scoring models could increase the number of eligible borrowers in the U.S. without weakening todays underwriting parameters.

Throwing bodies at TRID implementation won't solve problems. Using technology to automate origination processes can help rein in costs and maintain compliance.

Alternative data used to score "credit invisibles" may do more harm than good. That's because in areas like employment and insurance, no credit score is often better than a bad one