Links in “Mortgage Lending”

This very comprehensive article looks at how the improving economy and slowly-rising interest rates should impact your lending strategies. For example, skyrocketing student loan debt has kept many Millennials from purchasing a home, but as their earnings improve credit unions need to be ready to meet that pent up demand. This means developing strategies to compete in the home purchase market versus the refi market and a plan to address the needs of low-income borrowers and borrowers with credit challenges. [1/27/16]

A recent report from the Congressional Budget Office predicts that in 2016 the growth in wages will outpace the increase in housing prices, reversing the trend in 2015.  This means that more would-be home buyers may be able to qualify to purchase a home. [1/27/16]

After November's steep drop in mortgage originations, December experienced a bounce-back, as buyers sought to close before year-end. [1/26/16]

The CFPB's fact sheet on disclosures of construction-to-permanent loans under TILA/RESPA Integrated Disclosure falls far short of the detailed guidance sought by the mortgage industry. [1/15/16]

FinCEN issued Geographic Targeting Orders (GTO) that will temporarily require certain U.S. title insurance companies to identify the natural persons behind companies used to pay “all cash” for high-end residential real estate in the Borough of Manhattan in New York City, New York, and Miami-Dade County, Florida. The order follows a series of actions involving detection of real estate and potential money laundering. [1/15/16]

He worked as a real estate sales associate, negotiated sales, concealed sales incentives from mortgage lenders intended for the buyers, and kept them, pocketing nearly a cool million, which probably sounded attractive, but now he is facing 150 years in prison, which works out to only about $6,700 per year, so...  [1/13/16]

With marketing services agreements coming under regulatory fire, mortgage lenders are going to have to earn referrals from real estate agents the old-fashioned way. [1/13/16]

OCC releases JPMorgan Chase from business restrictions for violations regarding residential mortgage loan servicing and foreclosure practices, but hits it with a $48 million fine for earlier violations of the same practices. [1/6/16]

During November, existing-home sales cooled to their slowest pace in 19 months. The average time it took to close a loan increased three days in November. Not all the blame can belong to TRID, but it certainly isn't helping. [12/23/15]

The $1.1 trillion appropriations bill includes a provision that allows homeowners to exclude forgiven mortgage debt from their gross income when filing tax returns and to consider mortgage insurance premiums paid as deductible mortgage interest. Such provisions are seen as helping homeowners maintain a current mortgage status. [12/22/15]