Marketing

Former MBA chair and owner, president, and CEO of Union Home Mortgage, Bill Cosgrove, provides a peek into his pandemic playbook and offers advice to smaller lenders on how to stay competitive amid a rash of companies going public.

The final consent order contained the largest penalty, for $1.8 million to be paid by Low VA Rates. In total, the CFPB has issued $4.4 million in fines for such marketing of VA loans.

There will be no cocktail parties, breakfasts, lunches and dinners at this year's annual convention for the Mortgage Bankers Association. Instead of industry folks traveling to Chicago as was planned, arranging meet and greets in the exhibit halls, participants will sit in front of their computers in homes scattered across the country, thanks to the precautions created by the pandemic.

The agency had raised concerns in the Obama administration about kickbacks in the marketing pacts between mortgage lenders and other providers, but the agency's recent guidance says the deals are legally viable.

When the economy inevitably slides, leaders with a culture based on the mantra, "Treat people like family, and the money will take care of itself," won't need a miracle to survive.

Whether low rates will continue to outweigh health and employment concerns for millennials and Generation Z remains to be seen.

For the majority of borrowers, interest rate research for mortgage refinancing came with unwanted and annoying sales calls, which could ultimately hinder potential business for lenders.

The donation will go through the Association of Independent Mortgage Experts in an effort to expand and diversify opportunities in the industry.

Only 18% of refinance borrowers returned to the same lender in the second quarter, the second lowest rate since 2005.

From an increased interest in outdoor space to a need for a dedicated home office, the pandemic has created new drivers for refinancing, moving and other housing decisions, TD Bank found.