Data Facts Lending Solutions Blog

Jennifer Hamby

Jennifer Hamby’s career started at Data Facts, Inc. in 2007. During her tenure she has been dedicated to educating consumers on financial responsibility and the impact it has on one’s credit score. She has worked in the financial sector since 1996, and in 2010, was named Executive Vice President of My Credit My Future, a division of Data Facts, Inc. that provides credit and financial resources to companies as well as direct to consumers. Jennifer is very involved in both business and her community. She is a former member of NMBA, and served on the Advisory Board for TNMBA and NMBA . She has volunteered with Habitat for Humanity as a Budget Coach, and partnered with Junior Achievement by teaching financial education classes to High School Seniors. In 2008, when Tennessee adopted the Personal Financial Literacy requirement for all graduating seniors, Jennifer, worked directly with TN Jump$tart, educating Tennessee Teachers on all aspects of Financial Literacy to be used in the classroom.

Recent Posts

Top 10 Student Loan Tips For Recent Grads

Posted by Jennifer Hamby

Jul 1, 2015 8:31:00 AM

Whether you just graduated, are taking a break from school, or have already started repaying your student loans, these tips will help you keep your student loan debt under control.

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5 Steps To Best Manage 3rd Party Vendor Compliance

Posted by Jennifer Hamby

Jun 29, 2015 8:00:00 AM

TRID, TRID, TRID….it seems this has been the main focus, and topic of discussion this entire year.  And with delays and more delays, we are now wondering will this ever come to fruition? 

One thing we know is the CFPB is clear about their stance on consumer protection and that includes third-party vendor relationships. When a transaction between a financial institution and its customer involves a third-party, the financial institution is still responsible for compliance with laws and regulations 

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Topics: Compliance, Third Party Vendor Management, TRID

Protecting Your Identity While On Vacation

Posted by Jennifer Hamby

Jun 23, 2015 8:29:26 AM

Vacations are meant to be a time for you to relax and to enjoy yourself. It's likely that the last thing on your mind when you're vacationing is becoming the victim of theft. However, vacation time is also when identity thieves are at their busiest.

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Topics: Identity theft

Reduce Costs and Ensure Compliance with Technology

Posted by Jennifer Hamby

Jun 8, 2015 7:15:30 AM

As a mortgage lending services company, we have seen big changes lately. Over the past few years, the mortgage industry has faced multiple significant regulatory changes.   The Office of the Comptroller of the Currency, the Consumer Finance Protection Bureau, the Federal Reserve, and the Federal Deposit Insurance Corporation, (just to name a few)  all have issued new rules and regulations that affect our industry.  And like everything else, these changes come with a price.

The overall cost of originating a loan has gone from $2,291 per loan in 2008 to $6,769 in 2014, according to the MBA, with compliance costs being the fastest growing operational costs in our industry. 

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Topics: Mortgage compliance, Compliance, compliance tips for lenders, hiring process, mortgage lending services

3rd Party Vendor Management Checklist

Posted by Jennifer Hamby

May 26, 2015 2:20:00 PM

Third Party Vendor Management is a hot topic these days. 

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Topics: Mortgage compliance, Compliance

Data Facts Helps You Detect & Reduce Mortgage Fraud

Posted by Jennifer Hamby

Apr 17, 2015 7:45:00 AM

More sophisticated fraud schemes and new regulations mean your mortgage lending services need to include fraud and verification tools optimized for today’s lending environment. Now, more than ever, you need to know whether the information behind loan documentation is authentic.

Since mortgage lending has changed over the last few years and more changes are coming in the years ahead, it’s imperative that your information provider has the ability to keep up with the evolution in the market.

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Topics: mortgage fraud, Fraud, mortgage lending services

How To Lower Your Compliance Costs

Posted by Jennifer Hamby

Apr 9, 2015 2:51:09 PM

According to Fannie Mae’s October 2014 Third Quarter Mortgage Lender Sentiment Survey* of senior mortgage officials, 72% of respondents said they paid more for compliance in 2014 than they did in 2013. The median increase in compliance spending was 29%. And with TRID and other pending regulations, those compliance costs are expected to increase even more in 2015. 

With costs up for the majority of lenders, and greater partnering with vendors, the goal, then, is to figure out how to meet compliance requirements in the most cost-effective, least labor-intensive manner possible. The answer….TECHNOLOGY

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Topics: Mortgage compliance

What Your Credit Report Says About You: A Guide To Understanding Your Credit Report

Posted by Jennifer Hamby

Apr 1, 2015 12:14:34 PM

You are ready to tackle your bad credit and you want to increase your credit score so you just ordered your credit report. But, if you are like most people, you have a hard time understanding what your credit report means let alone interpreting all of the information it contains.

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Topics: credit reports

What You Need To Know About FICO 9.0

Posted by Jennifer Hamby

Mar 20, 2015 1:04:00 PM

FICO, the nation’s most popular credit-scoring system, released news about its latest credit scoring model, FICO®9.0.  While the media was all a-buzz with the potential “improvements” associated with the expected changes to the new scoring model, it is important to note that this will take time for mortgage consumers to experience its impact.

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Topics: credit reports, Credit Score, Collections, FICO, Understanding Credit Scores

Prevent Mortgage Fraud with Soc. Sec. Verifications

Posted by Jennifer Hamby

Mar 19, 2015 10:20:49 AM

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Topics: mortgage fraud

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