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mortgagenewsdigest.com
Mortgage News Digest: Processor Boot Camp: Training Processors no Longer Means Re-Inventing the Wheel!
http://www.mortgagenewsdigest.com/2015/07/processor-boot-camp-training-processors.html
Pages in this Blog. Wednesday, July 29, 2015. Processor Boot Camp: Training Processors no Longer Means Re-Inventing the Wheel! A goldmine of pre-developed training by industry leaders means you no longer have to pay to train new processors. Fortunately, we have developed the template for you. But this remains a good opportunity to refine the way your company works. Going through the process of developing the program can really help you understand where the weaknesses in your production system are. Basic ...
mortgagenewsdigest.com
Mortgage News Digest: June 2014
http://www.mortgagenewsdigest.com/2014_06_01_archive.html
Pages in this Blog. Wednesday, June 25, 2014. CFPB Rules Update - The HPML Appraisal Rule and The Concept of Layering. Current Customers can Download HPML Appraisal Policy Here. New Customers, see the site for a copy here. You can download the ABA's entire letter here. One clear example of this can be seen in its regulation of HOEPA. Section 32 loans have always been at the margin of the mainstream mortgage business. The Counseling Rule - Ubiquitous Requirement Hidden in Margins. Where should this go?
mortgagenewsdigest.com
Mortgage News Digest: April 2015
http://www.mortgagenewsdigest.com/2015_04_01_archive.html
Pages in this Blog. Friday, April 24, 2015. Recent Fine Points to the Need for a Documented Training Policy. SAFE Act Training - It's Here. Deal With It. While it doesn't excuse the actions of the individuals who cut class, it's likely the class cutters already knew the material being delivered in the "mandatory" continuing education. Like any long time industry professional, one is aware of the regulatory compliance requirements; many long-timers could teach the course (and do! Still, the questions are ...
mortgagenewsdigest.com
Mortgage News Digest: January 2014
http://www.mortgagenewsdigest.com/2014_01_01_archive.html
Pages in this Blog. Friday, January 31, 2014. Beware of Pirated Manuals. Here's how it happens. A client orders a product, but they don't want the normal information services we give to customers. We call and make sure they understand the license - that it can't be transferred - and they state they understand: it's only for their own purposes. We have a reason we don't sell to consultants - they pirate our product and then don't stand behind it. Who pays the price? Make Sure Your Product is Not Pirated.
mortgagenewsdigest.com
Mortgage News Digest: December 2013
http://www.mortgagenewsdigest.com/2013_12_01_archive.html
Pages in this Blog. Thursday, December 5, 2013. Brokers: Do I Report HMDA Data? Among the risks you expose yourself to:. State Regulator sanctions for acting as a lender without a lender license. Scrutiny from a Federal regulator regarding why ALL your loans are denied? Inconsistent reporting/reporting errors on other reports. NMLS Call Report - Requests Denied Applications. Brokers should only put the loans which the INVESTOR has denied in this column. Is It Really a Loan Until the Lender Has It? Mortga...
mortgagenewsdigest.com
Mortgage News Digest: Recent Fine Points to the Need for a Documented Training Policy
http://www.mortgagenewsdigest.com/2015/04/recent-fine-points-to-need-for.html
Pages in this Blog. Friday, April 24, 2015. Recent Fine Points to the Need for a Documented Training Policy. SAFE Act Training - It's Here. Deal With It. While it doesn't excuse the actions of the individuals who cut class, it's likely the class cutters already knew the material being delivered in the "mandatory" continuing education. Like any long time industry professional, one is aware of the regulatory compliance requirements; many long-timers could teach the course (and do! Still, the questions are ...
mortgagenewsdigest.com
Mortgage News Digest: October 2013
http://www.mortgagenewsdigest.com/2013_10_01_archive.html
Pages in this Blog. Wednesday, October 23, 2013. Sample Ability to Repay Policy. With the degree to which the Qualified Mortgage and Ability to Repay rules have affected the outlook for the mortgage industry, it comes as a surprise that an "Ability to Repay" policy does not represent a bulky and expansive document. What should it say? HOW will you comply? THAT is an effective policy. Here is a sample Ability to Repay POLICY:. 237 Ability to Repay. Insured by the Federal Housing Administration. On all oth...
mortgagenewsdigest.com
Mortgage News Digest: "I Need Income Computation Training" means I don't understand self-employment
http://www.mortgagenewsdigest.com/2015/07/i-need-income-computation-training.html
Pages in this Blog. Wednesday, July 1, 2015. I Need Income Computation Training" means I don't understand self-employment. Changes to FNMA 1084 and Rental Income Computation Create Frustration. 4 Months After SEL-2014-16, Confusion Persists. Please note that the changes required in SEL-2014-16 were effective 4/1, but then tabled until further notice by Selling Notice 3/24. FNMA 1084 Changes Not Fully Appreciated. The Fannie Mae form doesn't provide a form filler or calculator mode, so you stand the chanc...
