Data Facts Lending Solutions Blog

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

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