Archive for regulation
FHA Piles It On
Well, last month there were no FHA updates to report—but I just knew that the “silence” meant that they are dumping a bunch of changes on you—and what a dump It’s going to be. The big… Read more
Disclosure Triggers: What Makes a Mortgage Loan Application “Official”!
A loan application requires 6 pieces of information in order to trigger the GFE and disclosures: 1. Property Address 2. Loan Amount sought 3. Monthly Income 4. Estimated Value 5…. Read more
Mortgage Rule & Regulation Updates – November 2011
Let’s start these updates with some good news out of Freddie. They are relaxing some of the income verification requirements when it comes to Social Security, retirement, survivor and… Read more
Mortgage Rules and Reg Updates – September 2011
NMLS New Logo and Course Numbers Who would have thought that there were some fake NMLS instructors, teaching unauthorized courses out there? Well, NMLS has put the kibosh to that by requiring… Read more
What’s Happening in the Mortgage Rules World Lately?
There were a lot of updates over the last 30 days that will have a huge impact on your business and your loans. So let’s just set started with a couple of Dodd-Frank updates – I know, I… Read more
The Emperor’s New Clothes
Do you remember the Hans Christian Anderson Tale of the Emperor’s New Clothes? It is a tale of two crafty weavers who sell the Emperor a suit spun out of a material that is completely invisible to… Read more
Rates Way Down, Apps Way Up… That’s Good, Right?
Last week mortgage applications rose a whopping 21.7% from the previous week according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Great news for the industry… Read more
One Humongous, Sweeping Piece of Legislation – just 9 days from now!
Wow, this is one humongous, sweeping piece of legislation—but if I were to rename it, I’d call it the “Mortgage Misrepresentation and Deceptive Practices Act”—because the 19 rules prohibit a… Read more
An Analysis Of The Proposed QRM Rules
In an attempt to correct problems encountered during the Housing Boom and later Foreclosure Crisis. the government, in its infinite wisdom, has issued for review new guidelines for mortgages. These… Read more
The Changing Role of the Wholesale AE
Over the past twenty years the mortgage industry has gone through immense changes. Think of the new products, technology regulations and disclosures. And the wholesale account executive… Read more
