by | Nov 20, 2016 | Rules & Regulations
Written By: Lloyd Rutherford, Advisory Board, MortgageCurrentcy.com Have you ever wondered how a very well-known lender was able to have you just push a button and get a mortgage? Well, this is how they have been doing it. They were a pilot lender for these validation...
by KarenDeis | Oct 5, 2016 | Rules & Regulations
Written By: Karen Deis, Publisher Non-allowable fees to the veteran are just that – non-allowable fees. The seller or lender can pay them, but they cannot be charged to the Veteran. The new TRID forms have many people confused as to fee placement. The old HUD1 had you...
by KarenDeis | Sep 5, 2016 | Rules & Regulations
Written By: Karen Deis, Publisher So, Fannie rolled out their HomeReady® loan in December, 2015—and it wasn’t a big hit with lenders! Why? Because the rules (to begin with) were too restrictive. I don’t know if you know this or not, but every month for the last 6...
by KarenDeis | Jul 5, 2016 | Rules & Regulations
Written By: Karen Deis, Publisher Back in October 2009, there was a major overhaul to the mortgage advertising rules for closed-end mortgages, secured by a 1-4 family home. However, it seems that lenders (and real estate agents) continue to run ads that violate the...
by | Jun 20, 2016 | Rules & Regulations
Written By: Tammy Butler, Founder, FairLendingDiversity.com Marketing in general is tough, but when you combine marketing with Fair Lending compliance, it gets even tougher. If you’ve been reading my work for a period of time, you know I love checklists. We have...
by KarenDeis | Jun 5, 2016 | Rules & Regulations
(Reprinted with Permission of MortgageCurrentcy.com) So here’s the thing — every mortgage servicing department had their own interpretation of what borrowers had to do to drop mortgage insurance from their monthly payment. A little while ago the CFPB said, “Okay you...
