Simplified HMDA Data When Applicant Declines to Report GMI
We in the regulation, I mean mortgage, business are all learning about the new HMDA requirements. One particular issue that arises is...
TRID Tips on Speeding-Up Closing
Who has time to waste? Take Alec Baldwin's advice from Glengarry Glen Ross and "Always Be Closing" Mistakes happen when you're rushing...
Understand which vendors need extreme vetting per CFPB
Which vendors require due diligence, written contracts, and all the rest? CFPB-regulated institutions are required "to have an effective...
The Appraisal Disclosure on quickly denied loans?
ECOA (aka Reg. B) requires us to disclose to mortgage borrowers that they have the right to receive any appraisal or valuation that we...
Dodging HMDA-applicability on pre- approvals under the new rules
It's nice to avoid HMDA reporting requirements when you can, for example by using pre-qualifications instead of full pre-approvals. But...