Category Archives: Mortgage Services

A Breakdown of the New CFPB Rules

The new regulations from the Consumer Financial Protection Bureau (CFPB) are geared toward providing the customer with a more transparent transaction. To help achieve this transparency, the agency has proposed seven changes to the real estate process. The changes touch almost every aspect of the real estate transaction, including the process, the length of time …Read more

A CFPB Overview

Many things changed in the U.S. economy after the market crash a few years ago. One was the establishment of the Consumer Financial Protection Bureau (CFPB). Created as part of the Dodd-Frank Wall Street Reform & Consumer Protection Act, the new government agency’s stated goal is to focus on fairness and transparency in many types …Read more

Updated December 2012 Residential Lending Forecast

So many of you responded to a blog last week on forecast residential lending forecasts by Fannie Mae, Freddie Mac and the Mortgage Bankers Association (MBA), with the updated forecasts today from the MBA and Fannie Mae, attached are the latest tables, charts and the respective forecasts from December 2012. Since October 2011, the total …Read more

Home Mortgage Interest Deduction on the Chopping Block?

Homeownership in the U.S. is good for everyone—correct? And the more people that own homes, the better—correct? Not necessarily so, conclude some individuals. Many would argue that the Federal government’s push to increase homeownership rates from 2004 through 2007 via subprime lending with little or no equity requirements was directly responsible for the housing bubble …Read more

Qualified, Quality Conundrum

If there is one thing that mortgage bankers have learned to accept is the reality of the new world order, that quality and compliance will become the forefront of all origination for the foreseeable future. Anyone who has been involved in the closing of a real estate transaction in the last three years has already …Read more

Convention Season and a Moment of Reflection

So, it is the time of year again. It is convention season, when all the big trade associations in our industry host their annual conventions. This is the time of year when companies reconsider their messaging and marketing approach to their customers. This exercise usually brings a bit of introspection, so I thought I would …Read more

Home Mortgage Interest Deduction

As the U.S. continues deeper into the abyss given massive federal deficits and looming spending increases on entitlements, Congress and the President are scrambling for potential spending cuts and tax increases. Included in this discussion is a potential to limit or eliminate the mortgage interest deduction (MID) on primary and second homes. The National Association …Read more

MBA’s Q2 2012 Mortgage Lending Report — The Best Quarter Since 2008

The Mortgage Bankers Association each quarter publishes a phenomenal report delineating lending statistics and an array of related data. A summary article of their findings can be viewed at the Mortgage Bankers website. Included in their findings: Commercial lending (including multifamily) was up 25 percent year-over-year in the second quarter and up 39 percent sequentially …Read more