Data Facts Lending Solutions Blog

 

We all know the lending compliance is highly regulated and takes considerable resources. Lender compliance costs put a strain on lender profits, can be frustrating and seem unreasonable.

And they keep increasing.

Topics: Lending compliance, Mortgage Lending, mortgage changes, compliance tips for lenders, compliance costs in lending, mortgage lending services

Is it what you hope is the last Halloween before you move into a new home? Are you dreaming of passing out candy to hungry zombies and beautiful princesses?

Topics: Credit Score, Mortgage Lending, mortgage process

This article was originally published on HousingWire by Kelsey Ramirez. 

Fannie Mae announced it is increasing debt-to-income ratio, the No. 1 reason that mortgage lending applicants get rejected, according to an article by Kenneth Harney for The Washington Post .

The largest population rejected due to high DTI ratios is Millennial borrowers, who often stretch to pay their rent early in their careers, according to

the article.

Topics: fannie mae, Mortgage Lending

Several components play into the fact there's no easy sailing for mortgage professionals.

 2017 poses especially unique challenges. Being prepared with the right tools and education is key to being successful in today's mortgage industry. 

Topics: Millennials, Data Facts blog, Potential Millennial homebuyers, Mortgage Lending

When it comes to consumer credit portfolios, the only constant is change. And, unfortunately, when lenders attempt to keep a good grasp on their consumer credit portfolios, change can be a major challenge.

The good news is there are tools to help proactively review consumer credit profiles faster and more frequently. With this type of information in hand, you can now make better risk-management decisions for your portfolio as a whole. 

These tools are lending portfolio monitoring solutions. Employing such a system allows lenders to quickly identify, segment and prioritize accounts that meet designated risk levels to improve profitability.

What do lending portfolio monitoring solutions do for you?

They realize deeper insights to optimize strategies. The more in-depth information lenders gain, the better able they are at managing their portfolios in a way that meets goals and gain opportunities. Consistent lending portfolio review provides this. 

Such as...

#1: Predicting a consumer’s capacity to pay so you can improve: 

Topics: Mortgage Lending, Lending portfolio review, Portfolio monitoring

Flood certifications are an essential part of the mortgage process, but how much do most mortgage professionals really know about them? Here are some quick pointers from our flood certifications' vendor, ServiceLink. 

#1: What is a Flood Zone Determination, and why is this service needed?

A Flood Zone Determination (FZD) is an assessment of a property’s risk for flooding as determined by the Federal Emergency Management Agency (FEMA). FZDs are made by locating properties in question on Flood Insurance Rate Maps (FIRMs) or Flood Hazard Boundary Maps (FHBMs) published by FEMA and

Topics: Mortgage loan, Mortgage, Mortgage Lending, flood certifications

E-Signatures simplify and expedite transactions, making it easier, faster, and cheaper for buyers, sellers and borrowers to conduct business. What used to take days and weeks can now be accomplished in as little as 15 minutes.  The The E-Sign Act  was passed in 2000, so why has it taken so long for our industry to see the benefits for buyers, sellers, and borrowers?

Topics: Mortgage compliance, CFPB, Mortgage Lending, TRID, Know Before You Owe, E-Closing, E-Signatures

Thank you to ComplianceBuzz for putting together a comprehensive list of 40 TRID Facts You Need To Know. We are less than a month til the October 3^rd deadline and wanted to refresh you and your team on some of these facts.  An added bonus...You can also take a sneak peek at our eBook "Steps to Reduce Third Party Risks" as part of our mortgage lending services. Enjoy!

Topics: Mortgage loan, Mortgage compliance, mortgage news, Mortgage Lending, third party vendor, BankerVMS, Third Party Vendor Management, TRID, BDV

The housing market is HOT!  Are you getting ready to sell your home, but wonder if and how it will affect your credit? Selling your home could impact your credit in a few key ways. Let’s take a look and some of the ways- both postive and negative-your score could be affected after the sale of your home...

Topics: Mortgage loan, short sale, Mortgage Lending, Understanding Credit Scores

We know mortgage fraud comes in various shapes and forms. Catching it early is key if mortgage lenders want to protect their organizations from costly expenses associated with the crime. 

There are several mortgage lending services that address mortgage fraud, and being proactive and savvy to the common ways consumers try to "pull off" mortgage fraud is necessary. 

Watch out for these key indicators of potential mortgage fraud. 

Topics: lending solutions, Mortgage compliance, mortgage fraud, Mortgage Lending, mortgage lending services